5 Agosto 2019

Libra does not yet exist but the American tax authorities "warn" 10 thousand citizens about the contributory obligations in terms of cryptocurrencies

The Facebook currency is not yet a reality, but Libra already provokes a great deal of attention: for example those of the US tax authorities which in recent weeks has issued more than 10,000 notices to US citizens who have done cryptocurrency transactions. The reasons? At least two, as highlighted by Fabrizio Cancelliere on the Sole 24 Ore. On the one hand, in fact, there is the desire to inform taxpayers of their tax obligations, in order to incentivize the spontaneous fulfillment of the ever more numerous "investor crypts". However, there is something else. In the United States, in fact, a 2014 law states that "virtual currencies do not have the nature of foreign currency but more generically assets (property)", as pointed out by the Sole 24 Ore. This implies, for American citizens, "the obligation to declare all the operations of exchange of the cryptoassets", and above all facilitates the US tax administration, committed to adjust the tax obligations of the tax payers to a very changed economic context in recent years, an accomplice also the birth of cryptocurrencies. In short, Libra does not yet exist, but it is the Fisco has already begun to make its own accounts to prepare the new guidelines for the declarative obligations of the investor crypto. From which they cannot avoid.