Cryptocurrency Q&A
What is the GST rate for Bitcoin?
What is the GST rate for Bitcoin?
Michele
Thu Nov 28 2024
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6 answers
2017
I'm wondering about the GST rate that applies to Bitcoin. I need to know how much tax I would have to pay if I were to purchase or sell Bitcoin, considering the Goods and Services Tax.
6 answers
Giulia
Sat Nov 30 2024
The GST rate for such goods is typically set at 18%.
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Elena
Sat Nov 30 2024
Considering cryptocurrencies as goods for taxation purposes aligns with their nature as tradable assets.
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CryptoEmpireGuard
Sat Nov 30 2024
Cryptocurrencies such as VDAs can be categorized as goods.
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CryptoElite
Sat Nov 30 2024
Tax authorities may treat them similarly to other tangible and intangible goods.
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Giuseppe
Sat Nov 30 2024
This categorization opens up the possibility of GST being applicable to them.
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