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New Zealand to pay salary in BTC? :D


BLXN

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Posted
On 9/5/2019 at 10:55 PM, dicesouke said:

 

 

On 9/5/2019 at 11:35 PM, htetaungxx said:

Hello BLXN,
That was awsome if really happened. As for my country not even like that but also really hard to buy crypto currency with money. And got scam too many times form dealer. :( I wish to happen in my country like newzeland. 

be patient friend .. it seems like it's not only your country that is experiencing pressure on cryptocurrency .... many countries are experiencing it because local governments are pressing the pace of growth and marketing of cryptocurrency in their countries ... the various reasons they call it only aim at how to prevent cryptocurreny from developing in one country ...

even so, believe me, friend ..
if cryptocurrency has controlled market share and controlled a number of shares in the world ... then there is no reason for the country to reject the development and marketing of cryptocurrency in the country, unless the country will be left behind in all fields including technology and trade ... because if cryptocurrency has dominating the world of trade, automatically all transactions of purchases, taxes, customs, will be done using cryptocurrency ... how can a country accept export-import goods if a country does not use cryptocurrency ??? really doesn't make sense right ...

believe me .. bitcoin will be big ... bicoin will master, so there is no reason for anyone to reject bitcoin and cryptocurrency ... 🤗🤗🤗pan widlockquote widget

Posted

Thats a great news. It's gonna be positive for those employees to hold a certain part of their salary and be easily rich within the next decades!! 

New Zealand can probably become one of the richest countries with this decision. 

However, my country India still thinks Bitcoin is a harmful stuff. Lol.

  • 2 weeks later...
Posted

The New Zealand Tax Authority recognized the receipt of income in cryptocurrencies by hired employees and published a guide on its taxation. Thus, in digital assets, only half of the salary can be received in relation to its size or fixed rate. Note that all income earned by employees in cryptocurrency is subject to taxation, including remuneration for services, bonuses, commissions and gratuities. However, the new rules do not apply to self-employed taxpayers. At the same time, in order for the cryptocurrency received by the employee to be taxable, it must be available for conversion into fiat funds and not have restrictions associated with its immediate spending. We are talking about native digital currencies of peer-to-peer payment networks (such as bitcoin), and not about utility tokens of individual services or security tokens of individual companies. Recall that in 2017, the New Zealand Financial Regulatory and Supervision Authority equated cryptocurrencies with securities. Earlier, a bill was introduced in the US Congress proposing to remove cryptocurrency operations from double taxation. In particular, the document provides for amendments to the Internal Revenue Code, according to which digital currencies will not be considered property. It is worth noting that in July, the US Internal Revenue Service (IRS) sent letters to more than 10 thousand investors with a request to report on income from operations with cryptocurrency. It is known that the department is developing a new guide to cryptocurrencies. In addition, recently the UK Internal Revenue Service sent letters to the cryptocurrency exchanges Coinbase, eToro and CEX.IO demanding to provide users with personal data and their transaction history. Nevertheless, representatives of CEX.IO emphasized that the request of the agency applies only to residents of the United Kingdom. In the Canadian province of Ontario, meanwhile, a pilot project has been launched, under which residents will be able to pay property taxes with cryptocurrency.

Posted

This is great news for the Crypto World! Yes I would most definitely take BTC instead of FIAT dispite the fact that I am writing this during it's price dip...

But for a functional Crypto based World, we'll need it's price to be less volatile and a little more stable, or it could be hard to live on it (if BTC is your salary)

Posted

Oh yes no difference.If there will be an adjustment at current prices, why not?Although if the price drops on bitcoin, you can even go a plus.😁But if you argue sensibly, all the same, this is a crazy undertaking.

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