July 20, 2024

The Danish authorities demanded that traders report on bitcoin transactions for 2016-2018

The Danish Tax Office has started sending letters to local traders asking them to providecomprehensive information on cryptocurrency transactions over the past few years. It is reported by Cointelegraph, citing its own sources.

In addition to profit and loss information from 2016 toIn 2018, users must provide data on asset rates at the time of the transaction, the purposes of acquiring digital currency, as well as information about the created wallets.

In addition, users need to doa screenshot to confirm the trading activity, on which should be the name of the trader and information about creating an account. The agency also intends to obtain bank statements from traders for the above period.

“Many of our Danish users have received such emails. Skat [Skattestyrelsen - tax office] requires a complete breakdown of all transactions, as well as corrections to all previous reports, Says Koinly startup founder Robin Singh. -This is not easy to do, becauseCrypto traders usually have several exchange accounts and wallets between which they freely move funds. Therefore, it is not so easy to calculate capital gains on a particular trading transaction.”

Recall that at the beginning of this year, the Danish authorities ordered the bitcoin exchange to provide them with information on cryptocurrency trading on request from 2016 to 2018.