If a person makes digital transactions and achieves at least one favorable result through the sale, they will have to pay certain taxes. bitcoin-crypto-currency-diagram (1).jpg
What taxes do cryptocurrencies pay?
There are different types of regulated taxes for which a person can pay in case of having cryptocurrencies: Personal Assets: their treatment will depend both the type of asset and the location. The treatment is different if it is considered a financial asset or a credit. The criteria will also depend on whether it is located abroad or within the country. Income Tax: this is a tax that is present in many of the digital asset operations. If a person acquires a Bitcoin and then sells it at another price, he will have to pay said tax. Scheduled tax: consists of a tax regulated by AFIP that is applied on financial income. It reaches operations with cryptocurrencies since paid for money earned on investments: dividends, transfer of securities or real estate. The payment can be between 5% and 15%, depending on the result obtained. Monotax: in principle, the monotax does not cover cryptocurrency mining, trading or NFT trading. However, many people use it to justify taxes. ethereum.jpg
Do cryptocurrencies pay VAT?
It is important to clarify that those people who are reached by the AFIP taxes, they will not have to pay the Value Added Tax (VAT). According to the established Law on VAT, the tax reaches material goods, that is, sale of furniture, works, locations or provision of services. The commissions that one gets for the sale or purchase of cryptocurrencies yes they are covered by VAT. If a person charges for a digital currency operation, he will have to pay the tax.