OpenRuby.com

07 Nov '12, 4pm

Digital Currency: A New Worry for Tax Administrators? #bitcoin

Digital Currency: A New Worry for Tax Administrators? #bitcoin

Tax Analysts sought out members of the bitcoin community as well as tax experts to identify what the implications are for tax administrators. Some believe that the system could be used to facilitate tax evasion, while others contend that the open nature of the transactions would deter such evasion. All believe, however, that bitcoins raise significant questions. For tax administrators, the challenge is how to approach a system that is outside the traditional streams of commerce and finance. For users, the challenge is how to navigate an ambiguous regulatory climate in which guidance is difficult to come by.

Full article: http://www.taxanalysts.com/www/features.nsf/Articles/C1A7...

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