In Estonia the procedure for taxation of cryptocurrencies has been clarified
Publishedо 12 May, 2021
The Tax and Customs Department of Estonia has clarified the rules for working with cryptocurrency in terms of paying taxes. This issue is particularly relevant in view of the extension of the period for filing an income declaration until the end of May.
Mandatory payments will be required if the owner of the cryptocurrency exchanges it for another digital payment instrument or for ordinary money and receives income at the same time, as well as pays with “electronic” bills for goods or services. In the latter case, the difference in the exchange rates on the day of purchase and the day of use of the cryptocurrency is taken as income.
Source: emta.ee
Mandatory payments will be required if the owner of the cryptocurrency exchanges it for another digital payment instrument or for ordinary money and receives income at the same time, as well as pays with “electronic” bills for goods or services. In the latter case, the difference in the exchange rates on the day of purchase and the day of use of the cryptocurrency is taken as income.
Source: emta.ee
