OECD encourages countries to finalize the principles of taxation of cryptoacivis


The organization of economic cooperation and development (OECD) believes that in most countries, the principles of taxation of cryptocurrency are inconsistent and differ much depending on the jurisdiction.

The report provides a number of examples, among which various definitions of digital assets in regulatory bases. Most often, cryptocurrency refers to financial instruments or assets, in other cases they are classified as goods, currency or payment means. In some countries, including the United States, they remain an uncertain class of asset in terms of taxation.

A similar situation with the calculation of the cost of cryptoacivisses produced by mining. Most often, the basis is the course at the time of their creation, but in a number of jurisdictions tax is subject to income from the first sale. In several countries, different rules can even combine depending on the subject under consideration. At the same time, high volatility additionally complicates the assessment of the final amount of capital.

The OECD document encourages the governments of all countries to make more clarity in the Cryptovalum tax mechanisms, proposes to provide benefits to POS-Mainers due to consumption of a smaller amount of electricity, and simplify the system or not to take into account small transactions and transactions at all.

Until officials study these suggestions, members of great twenty already

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