CRYPTOCURRENCY CALCULATIONS IN ESTONIA

CRYPTOCURRENCY CALCULATIONS IN ESTONIA

Income received in cryptocurrency (gains from the transfer of property, income from employment, income from business activities) is taxed on the same basis as income received in traditional currency.

With regard to the taxation of virtual income, the purchase or sale price or the income received must be converted into euros at the cryptocurrency exchange rate (market price) valid on the date of receipt of income or expenses.

Pursuant to Part 1 of Article 15 of the Law on Income Tax, cryptocurrency is considered property.

Income from the transfer of cryptocurrency, including exchange (clauses 15(1) and 37(1) of the Law on Income Tax), is subject to income tax.

If a private person receives income from trading, buying, and selling cryptocurrency or from exchanging cryptocurrency for another cryptocurrency or traditional currency, the received income must be declared in tables 6.3 or 8.3 of the income declaration as income from the transfer of other property.

The revenue is calculated by the agreement as the difference between the sale price and the purchase price or, in the case of an exchange, between the price of the property received and the purchase price of the cryptocurrency.

It is necessary to declare only those operations that brought income. When a property is taxed, each transaction of transfer, in a particular exchange, is perceived as a separate object of taxation.

The alienation operation that caused losses can be taken into account for taxation purposes only in the case of the alienation of securities under the conditions provided for in Article 39 of the Law on Income Tax. Cryptocurrency is not considered a security, and losses incurred during the exchange of cryptocurrency cannot be taken into account for tax purposes. Therefore, it is impossible to announce such a transaction.

Cryptocurrency can be used to pay for goods or services. If an individual uses cryptocurrency to pay for goods and services, the resulting profit must be declared in table 6.3 or 8.3 of the income statement as profit from the transfer of other assets.

Profit is calculated as the difference between the price of goods or services received and the purchase of spent cryptocurrency.

If an individual decides to start or continue investing in cryptocurrency as a company (a legal entity), he must consider the company’s tax rules.

A resident company pays income tax on the distribution of profits, i.e. from the payment of dividends at the rate of 20/80. Benefits provided by the employer (additional benefits) to employees are subject to income tax at the rate of 20/80 and social tax at the rate of 33%. Expenses or payments of a resident company that are not related to the company’s activities are subject to income tax at the rate of 20/80.

Cryptocurrency lawyer in Estonia

Legal assistance on crypto issues in Estonia

• Legal use of cryptocurrency
• Legalization of income received from operations with crypto and investments in cryptocurrencies
• Mining Bitcoin and Ethereum
• Consulting on IEO
• Taxation of withdrawal of assets in fiat money
• Legal support of ICO and IEO projects
• Structuring of blockchain companies
• Assistance to crypto investors
• The assistance of a lawyer on cryptocurrency investments
• Registration of ICO/IEO/Defi and Mining

We provide full legal support for transactions with cryptocurrencies, ICO / IEO, Defi registration, and organization of cryptocurrency mining, which is why you landed on this page when you entered “cryptocurrency legal help”, “cryptocurrency lawyer”, and “bitcoin legal advice” into the search engine. help with cryptocurrencies”, “bitcoin consultations”, “lawyer’s advice on cryptocurrencies”, “blockchain contract”, “Ethereum contract”, “legal advice on cryptocurrencies and taxes”

Legal assistance in Estonia — Bitcoin and cryptocurrency.

Therefore, the assistance of lawyers in matters of cryptocurrencies, their mining, registration of IEO, Defi, and other crypto projects is a set of measures aimed at registration of such relationships in full compliance with the current legislation of Estonia and the EU.

The most common questions to our lawyers are:

Payment for services, works, real estate, and other assets in Estonia with Bitcoin (BTC) and Ethereum (ETH). Truth or myth?

In which cities in Hungary can you exchange Bitcoin, Ethereum, Ripple, and other cryptocurrencies?

How to buy goods for bitcoin in Estonia?

You can get answers to these and other questions by calling our lawyers or by leaving your phone number.

For example, cryptocurrency in Ukraine is not recognized as a means of payment, and due to some regulations and positions of central authorities, it is equated to surrogate money.

Our lawyers are perfectly versed in all the trends in the regulation of cryptocurrency in the world, including in Ukraine, and guarantee the most protected ways of using it.

Crypto exchange in Estonia (Tallinn)

Buying and selling cryptocurrency in Estonia through YK Prykhodko and partners is profitable and safe.