If you are a cryptocurrency investor, you will have to be more attentive to the campaign of the Income Statement next year corresponding to 2022. The new box, corresponding to digital currencies, will come into force as of the next January 1, 2023, according to what they tell us from w3volution. In addition to having to declare the movements, since they are considered capital gains and losses or income from movable capital, there will be a specific box for the bitcoins.
It will be within the section of «Capital gains and losses derived from transfers of other capital elements»In the box 1626 the key 0which will be linked to ‘Virtual currencies’. Tax authorities will oblige us to inform you about the available balance in bitcoins. It is one of the great changes that the new Model 721 of the Declaration, since they previously appeared in the section ‘Other goods’specifically in box 22 ‘Other goods and rights of economic content’.
The new royal decreedeveloped by the new Law against Fraud 11/2021affects both people and companies that are dedicated to the purchase and exchange of cryptocurrencies, such as bitcoins. Profits obtained from virtual currencies deposited abroad (outside the European Union) will be declared in the personal income taxbut not to Tax authorities. Therefore, it focuses on movements carried out in national territory.
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