The Tax Implications of Salaries in Bitcoins


*+-Tech startups are now starting to trend toward paying their staff in a new form of payment: bitcoins. But they might be forgetting about the tax implications of salaries in bitcoins. It’s easy to see the allure of getting paid in bitcoins for those that work in innovative, cutting edge environments, for bitcoins themselves are innovative and… Read more »

Digital Currency Sparking Entrepreneurship in Africa

Danetha Doe Headshot

*+-Civil unrest, bloody wars, poverty and famine, the continent of Africa has been plagued by devastating tragedies over the last several decades. Combined with political corruption, an unstable financial system, and lack of decent educational and business growth opportunities, its citizens are amongst the poorest in the world. Many living on less than one dollar… Read more »

Income Tax Treatment of Virtual Currencies in Singapore


*+-Businesses that choose to accept virtual currencies such as Bitcoins for their remuneration or revenue are subject to normal income tax rules. They will be taxed on the income derived from or received in Singapore. Tax deductions will be allowed, where permissible, under our tax laws.

LibraTax White Paper: Introduction to Digital Currencies for Professionals


*+-Below is an excerpt from a white paper published by LibraTax. The full white paper entitled “Introduction to Digital Currencies for Professionals” can be found on the the firm’s website at Jake Benson, the founder and CEO of LibraTax, is a member of the DCC. Tax Treatment of Digital Currency Digital currencies are subject to… Read more »

DCC Member Spotlight: “Xen Master” Ryan Lazanis Woos Tech Savvy Crowd by Accepting Bitcoin


*+-Xen Accounting’s website proclaims bold positioning for the traditional profession of accounting, “We are a fully virtual, 100% cloud-based, 100% paperless Chartered Accountant firm. Some call us the new breed of accountants, others call us accountants 2.0.” The Digital Currency Council recently spoke to Ryan Lazanis, whom the site describes as “Xen Master.” Lazanis confirmed… Read more »

How Bitcoins Are Taxed: The tax implications of bitcoins and staying organized

*+-Source: Whenever bitcoin is bought, sold, or traded, there are tax impacts. We’ll discuss how bitcoins and other forms of virtual currency are taxed, and point out record keeping requirements and tax planning techniques that can be utilized. At the end you’ll find resources for continuing your own research. The big picture: “The key… Read more »