Slashdot Mirror

← Back to Stories (view on slashdot.org)

Norway Rejects Bitcoin As Currency; Taxes As Asset, Instead

Posted by timothy on from the money-need-not-derive-from-the-state dept.

An anonymous reader writes "Norway is the latest country to consider the legal implications of cryptocurrencies like Bitcoin. Norway's director general of taxation has come out and said '[Bitcoin] doesn't fall under the usual definition of money,' which means that it will be considered as assets and charged under capital gains laws. This sentiment was echoed last week by the European banking authority as well, where citizens were warned of using the cyrptocurrency."

2 of 245 comments (clear)

  1. Re:How is Norway going to know? by PolygamousRanchKid+ · · Score: 5, Insightful

    For example, tax fraud is assumed to be low in Switzerland compared to its neighbor states.

    Tax fraud committed by Swiss citizens may be low . . . but tax fraud committed by citizens of its neighbor states in Switzerland is very high.

    --
    Schroedinger's Brexit: The UK is both in and out of the EU at the same time!
  2. Re: How is Norway going to know? by alexander_686 · · Score: 5, Insightful

    To follow up, and make the point even more explicitly, the same logic holds for foreign currency. if I hold Euros for more than a year and the Euro gets strong, I have to pay cap gains on that profit.