Connect with us

Price prediction

Taxation Bitcoin and cryptocurrencies Revenue Agency: tax return

With the tax deadline looming and the latest regulations voted by the European Union in terms of cryptocurrency regulation, the time has passed to put your paperwork in order. Here’s how to simplify the process of presenting your cryptocurrencies.

Earnings Bitcoin Taxes Taxation Cryptocurrencies Revenue Agency

Profits generated by non-professional trading of Bitcoin and cryptocurrencies are considered income from forex trading for personal tax purposes and therefore taxed at 26%. The taxation of capital gains will apply to such profits only if the trader has held more than 51,645.69 EUR of cryptocurrency on his accounts (at the exchange rate applicable on January 1 of each year). In the annual tax return, people residing in Italy must specify if they have cryptocurrencies held in electronic wallets, as well as they must declare if they have money held in foreign bank accounts.

VAT. In addressing the VAT regime of cryptocurrencies, the Italian tax authorities relied on the ruling of the Court of Justice of the European Union (“CJEU“) in Skatteverket v David Hedqvist Case C-264/14. In that ruling, the CJEU stated that cryptocurrencies can be treated as foreign currencies for VAT purposes, and therefore the exchange of cryptocurrencies should be exempt from VAT under Article 135(1)(e) of EC Directive 112/2006 (the “VAT Directive“). Consequently, in its Resolution no. 72/E of 2016, the Revenue Agency confirmed that the exchange of cryptocurrencies is exempt from VAT under the applicable Italian legislation transposing the VAT Directive in Italy. Corporate taxation. Italian tax authorities have said that profits from trading cryptocurrencies are relevant for corporate income tax purposes (IRES and IRAP) and must be included in the company’s balance sheet.

👍 Italian Tax Law Name
Income from forex trading

✅ Facilitated taxation?
No, 26% over 51.645,69 EUR

💰Payment of taxes
Yes, cryptocurrencies are not subject to taxes

Advertisement

⚙️ Best Country
Portugal, regulation and taxation

🛑 Are there scams?
Yes, but just use safe sites to avoid them.

🥇Best Platform for Cryptocurrencies
eToro

🥇Best Exchange for Cryptocurrencies
Binance Car Hire

What are the 2022 tax deadline dates?

Unlike the United States of America, where the due date for filing 2021 tax returns and paying taxes due is April 18, 2022. In Italy, on the other hand, 4 different moments can be identified; they run from 30 June to 16 September.

Advertisement

On 30 June: payment deadline for the first installment of Irpef, Irap and Ires due depending on the case.
On 16 July: payment of vat balance for monthly taxpayers.
On 16 August: settlement of the quarterly and monthly VAT balance.
On 16 September: VAT settlement due to monthly taxpayers.

Last year, the U.S. federal agency responsible for the collection of taxes and enforcement of tax laws sent warning letters to suspected cryptocurrency tax evaders, so it’s never been more important to make sure your documents are in order. Fortunately, there’s a lot you can do to prepare for a hassle-free cryptocurrency tax payment experience this year. Here are our top tips for filing a proper tax return on Bitcoin and other cryptocurrencies.

1. Use tax software to simplify the filing process

Filing your cryptocurrency taxes involves keeping track of every trade you’ve made, through self-hosted wallets, centralized exchanges, DEX, NFT, and more. Keeping accurate records of all these transactions can be difficult, especially if you’ve dabbled in DeFi using tools like liquidity pools and flash loans.

How can cryptocurrency software simplify tax payments?

A tax software like Koinly offers a simple complete solution for presenting your cryptocurrencies, extracting data from exchanges, wallets, and blockchains to provide you with a holistic view of your tax liabilities. Koinly will compile both the American IRS report (Form 8949 and Table D) for capital gains and losses and the tax return for Italy with the total income for you, and an expert review is available to help resolve conflicts and inconsistencies.

2. Do not try to hide operations with Bitcoin cryptocurrencies

Let’s make things clear. In Italy difference of cash where from January 1, 2022 the limit to cash payment and passed) the from 2000 to only 1000 euros, on Bitcoin and other types of cryptocurrencies. there is no transfer limit. If you think that the inland revenue or the guardia di finanza does not know what you are combining on decentralized exchanges such as eToro, Bybit, Binance you are on the wrong track. All major cryptocurrency exchanges have a KYC (Know Your Customer) process. When you pay fiat (Dollars, Euros, Pounds) using a debit or credit card or bank transfer, your cryptocurrency exchange will also link your banking information to you.

Advertisement

And when you withdraw funds from a platform that allows the exchange, purchase and sale of cryptocurrencies an address is associated with your KYC exchange account.

In March 2021, the IRS established Operation Hidden Treasure, a dedicated team to undeclared cryptocurrencies from the deepest corners of the blockchain and hold taxpayers accountable. So think again if you feel that the IRS is not an expert on cryptocurrencies. It probably has more crypto experts on its payroll than you have on your Telegram channels.

3. Cryptocurrency tax is your individual responsibility

Last November, President Biden signed a $1.2 trillion bipartisan infrastructure law in the United States. A part of this money is requested from the so-called brokers such as eToro, Nexo, Crypto.com. But the law will go into effect from next financial year, so don’t expect tax forms from exchanges.

In any case, cryptocurrency platforms, or crypto loans, don’t actually have the responsibility to help you sort out your taxes to be paid on cryptocurrencies and to help you submit forms on time. The duty to worry and inquire with an accountant is yours. Your responsibility.

But you can make your cryptocurrency tax return less cumbersome and more accurate by using software like Koinly, which offers a number of free features to simplify the process.

Advertisement

4. What does the taxation in Italy on Bitcoin and cryptocurrencies provide

The Italian state considers taxable only earnings exceeding a value of 51.6 thousand euros, to be declared in the RT framework of the PF Income model. In any case, to keep track of the movements, it is advisable to declare the lost sums in the RW framework of the single model. There are basically two ways in which your cryptocurrencies are taxed. If you earn more than 51.6 thousand euros, you will be subject to income tax. Earnings in cryptocurrencies could also come from play-to-earn games like Axie Infinity, or they could come from an airdrop like Ethereum Name Service.

And if you sell, trade or spend cryptocurrencies, it is subject to capital gains tax.

DeFi and NFT are also subject to the same tax rules as cryptocurrency reports on centralized exchanges. Figuring out which tax rule applies to them is certainly more complicated than just cryptocurrency trades. It is not all simple and there are many nuances. If you are not willing to master the tax code applicable to cryptocurrencies, it is better bet is only to use cryptocurrency software such as Koinly.

5. Difference between long-term vs short-term Hodl

Understanding the basics of the cryptotax is not only helpful when it comes to declaring and paying taxes. In Italy you can also help reduce the tax burden if you build a strategy around it. Here’s an example. If you hold cryptocurrencies for more than a year, then you are subject to long-term capital gains tax.

But if you keep it for less than a year the annuity, it will be treated with short-term capital gains tax.

Advertisement

The latter is the same as the income tax rate, so it is a less favorable tax rate. If you want to pay less tax, we recommend that you hold cryptocurrencies for more than a year, all things being equal.

6. Tax evasion and money laundering of cryptocurrencies

As mentioned above, tax evasion, or non-payment of taxes due, is illegal. But tax avoidance, the strategic reduction of potential taxes, is a legal and widespread practice.

One way to reap tax losses is a “wash” sale, which is when investors sell an asset at a loss and record the capital loss for the fiscal year, only to buy it back later. The IRS has a wash sale rule that says that if you buy back a “substantially identical” asset within 30 days, you can’t declare a capital loss on that asset.

But currently the rule only applies to securities, such as stocks and bonds. Crypto is considered a property, not a security.

Leave your vote

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Il tuo indirizzo email non sarà pubblicato.

Price prediction

Shiba Inu Forecast 2022, 2023-2024-2025-2030

The history of the Shiba Inu (SHIB) cryptocurrency is recent, it was born in August 2020 with the desire to bring innovation to the market. It is part of that new generation of token memes and has as its symbol the image of a Shiba Inu dog.

Yes, from the beginning a very ambitious roadmap has been drawn, which has attracted a very active community that today includes thousands of users. The community around the Shiba Inu project has a fundamental role in its development in the medium and long term.

SHIB is a reality that can offer a lot, it is still under construction and for this reason many features are to be experienced. Among the most interesting is ShibaSwap, which is a DEX that will allow SHIB to enter the sector of decentralized economy. This shows that the project is very ambitious and that it wants to create practical purposes.

ShibaSwap will allow users to exchange SHIB and other tokens by facilitating transactions. Although Shiba Inu is a cryptocurrency with a history that is still too recent, it can still be considered a very secure cryptocurrency thanks to the fact that it is hosted on the Ethereum blockchain. So let’s now see what the forecasts are for Shiba Inu in the coming months and years. Instead, as far as prices are concerned, from 2022 onwards, anything could happen. We expect Shiba Inu to continue to grow thanks to the likely burn associated with NFT.

If you do not want to waste time and you have decided to invest immediately in Shiba Inu so as not to miss the train, open an account on eToro now by clicking the link below -> Open a free account on eToro !

Advertisement

If you prefer to buy Shiba Inu with an exchange, we recommend Binance -> Open a Free wallet now!

Shiba Inu Coin Forecast 2022-2030

Shiba Inu Forecast 2022
Bulls: $0.0000800

Shiba Inu Forecast 2023
Bullish: 0.00009000 – 0.0001 $

Shiba Inu Forecast 2024-2025
Bullish: $0.0002 and $0.0003

Best Broker for Shiba Inu
eToro: Sign up – or try the Demo Account

Advertisement

Best Exchange for Shiba Inu
Binance: Sign Up

Shiba Inu Forecast 2022

The Shiba Inu token has seen tremendous growth in early 2021. Industry professionals know how much the hype of the community makes the difference in the rise of this cryptocurrency, but the SHIB is continuing to attract new users and consolidate the holders, the users who plan to hold it for the medium and long term.

All this contributes to positively influencing the price of Shiba Inu and the community that is consolidating around this project, supporting it vigorously also on social media. This should continue to stimulate its growth in the coming months of 2022. In this perspective, the formalization of the ShibaSwap function in the cryptocurrency ecosystem also affects. Experts estimate growth by the end of 2022 to a maximum value of $0.00008000.

Buy Shiba Inu with eToro -> Open a Free Account !

Buy Shiba Inu at Binance -> Open a Free Account !

Advertisement

Shiba Inu Forecast 2022
Bulls: $0.00008000

Best Broker for Shiba Inu
eToro: Sign up – or try the Demo Account

Best Exchange for Shiba Inu
Binance: Sign Up

Shiba Inu Forecast 2023

This new CRYPTOCURRENCY SHIB is attracting the attention of investors around the world, many experts predict its rise in the medium term. The community around this project is definitely what makes the difference compared to competitors.

Although there is a calculated risk, it can be considered a good investment to diversify investments, even for those who do not like to risk much. According to experts, over an average period of time it is possible to predict an increase compared to the current value with a maximum target of $ 0.00009000 by the end of 2022 to arrive at the end of 2023 at a maximum target of about $ 0.0001.

Advertisement

Buy Shiba Inu with eToro -> Open a Free Account !

Buy Shiba Inu at Binance -> Open a Free Account !

Shiba Inu Forecast 2022-2023
Bullish: 0.00009000 – 0.0001 $

Best Broker for Shiba Inu
eToro: Sign up – or try the Demo Account

Best Exchange for Shiba Inu
Binance: Sign Up

Advertisement

Shiba Inu Forecasts 2024-2025

The hype of the moment around Shiba Inu could wane, the token memes could only be the result of a momentary fashion and this is to be kept in mind if you decide to invest in SHIB. However, the community that supports it is one of its greatest strengths and this should not be underestimated for long-term investments.

The program to turn Shiba Inu into a utility token could even increase its hype by linking its value to its usefulness. In fact, if ShibaSwap should become a prevalent function, those who invest in SHIB today will find themselves in the long term to have a nice portfolio.

The fact that SHIB still has a lot of its potential to explore intrigues many investors, especially the more adventurous ones who want to bet on ambitious realities. Analysts assume that at the end of 2025 Shiba Inu will reach its maximum value between about $ 0.002 and $ 0.0003.

Buy Shiba Inu with eToro -> Open a Free Account !

Buy Shiba Inu at Binance -> Open a Free Account !

Advertisement

Shiba Inu Forecast 2024-2025
Bullish: $0.0002 and $0.0003

Best Broker for Shiba Inu
eToro: Sign up – or try the Demo Account

Best Exchange for Shiba Inu
Binance: Sign Up

How to invest in Shiba Inu cryptocurrency?

  • Buy Shiba Inu with eToro
  • Buy Shiba Inu with Binance

Buy Shiba Inu with eToro

For those who decide to buy SHIB there is the great advantage of being able to do it through eToro (here for the official website), brokers among the favorites of both more experienced and novice users. eToro has included Shiba Inu in the market since its launch, demonstrating a great focus on the most innovative and emerging cryptocurrencies.

Within the panorama of brokers eToro is one of the most appreciated and recommended for several reasons, such as the presence of additional services such as CopyTrading, which allows especially less experienced users to be able to observe and copy the investments of successful traders.

The features of eToro can be tested thanks to a demo account (open it immediately by clicking here), this opportunity is very appreciated by the people of novice investors who train to test the services of this online broker and their capabilities

Advertisement
  • Commissions: 0.1% to 0.4%
  • Available Cryptocurrencies: 100 (including Shiba Inu)
  • Minimum Deposit: $50

Buy Shiba Inu with Binance

Binance (here for the official website) was among the first exchanges to include SHIB. Surely this has given greater vigor to the cryptocurrency, in fact for Shiba Inu being included in the list of cryptocurrencies available on Binance means guaranteeing greater security to users who decide to invest.

Binance is a reliable, easy and intuitive platform that allows you to trade with very low commissions. Even for less experienced users, opening an exchange account on Binance takes very little time, so you can start investing in a few minutes and manage your exchange portfolio conveniently through a free downloadable application.

  • Commissions: 0.1%
  • Available Cryptocurrencies: 170 ( including Shiba Inu )
  • Minimum Deposit: 1 €

To conclude, we recommend some guides that may be useful to you if you are interested in the Shiba Inu (SHIB) cryptocurrency:

Leave your vote

Continue Reading

Price prediction

Ethereum 2022 Forecasts, 2023-2024-2025-2030

Many Ethereum investors are wondering in which direction the stock market will move in the future, and within this article, we will gather as much information as possible in order to provide reliable Ethereum forecasts. In fact, it is possible to make completely realistic predictions through the detailed analysis of what has happened to the Ethereum market so far, so as to guide investments in the right direction. It seems logical to warn that all possible predictions are, in fact, predictions, since there is no real certainty about what will happen.

The current situation of Ethereum

Ethereum closed the year 2020 with a value of 387 dollars and a capitalization of 43 billion dollars; subsequently this price has undergone a real surge exceeding 3000 dollars and a capitalization of 400 billion dollars. This great growth has been associated by many with the positive trend that Bitcoin has invested, while others see the two cryptocurrencies separately both in substance and in future growth.

Technical analysis of indicators

An idea about the future of Ethereum can be explained through the technical analysis of the major market indicators: the moving average and oscillators. Looking at the first value, it can well be concluded that investors currently maintain great confidence in cryptocurrencies, to such an extent that they advise to continue the purchase trand waiting for a further rise in prices; as far as oscillators are concerned, the discourse becomes different: not all investors are optimistic and some advise to wait in order to possibly examine the possibility of selling.

If you have not yet invested in Ethereum, you may have one of the last chances, in fact the forecasts see a possible growth in its value throughout 2022. So if you don’t want to stay out of the Ethereum race, open an account on eToro right away by clicking the link below

Ethereum forecasts for the coming years

The answer to this question is the result of a series of determinations to be faced: the ability to analyze risks, that is, the awareness that investing in cryptocurrencies can always be considered a tangible risk of losing the share that has been invested; the detailed analysis of moving averages and oscillators which can provide further details on the actions to be taken; the market trend, which must be followed specifically, especially at the end of the pandemic. In general, it can be said that investing in Ethereum is worthwhile, it is a testimony to this, to describe or below what are the forecasts for this cryptocurrency in the short and long term.

Advertisement

Ethereum 2022 Forecast
Bullish: $5000

Ethereum 2023 Forecast
Bullish: 6000 – 8000 $

Ethereum Prediction 2024-2025
Bullish: 10000 – 12000 $

Best Broker for Ethereum
eToro: Sign up – or try the Demo Account

Best Exchange for Ethereum
Binance: Sign Up

Advertisement

Ethereum 2022 Forecasts

The best investment platforms consider Ethereum a rather safe cryptocurrency: in general, they do not expect the stock to close the year 2022 with a value lower than that currently achieved. eToro, the best broker, claims that the value of Ethereum will settle at $ 5000 by the end of the year and this forecast, in particular, appears as the safest since it respects the performance of the stock during the year.

Ethereum 2022 Forecast
Bullish: $5000

Best Broker for Ethereum
eToro: Sign up – or try the Demo Account

Best Exchange for Ethereum
Binance: Sign Up

Ethereum 2023 Forecasts

Even in the long term this cryptocurrency should give great satisfaction to its investors: it should in fact reach the values of 5000 and 6000 dollars respectively in 2022 and 2023, continuing the positive trend that began in 2021. The idea about these predictions is based on the history of the value of the major competitor, namely Bitcoin, which would go hand in hand with that of Ethereum.

Advertisement

Ethereum 2023 Forecast
Bullish:6000 – 8000 $

Best Broker for Ethereum
eToro: Sign up – or try the Demo Account

Best Exchange for Ethereum
Binance: Sign Up

Ethereum Predictions 2024-2025

Net of new cryptocurrencies still unknown to the stock market, even for the two years described above there should be remarkably rosy forecasts: the value of the cryptocurrency should reach unprecedented shares. Even for this very long-term forecast, the value of the cryptocurrency should exceed expectations for investors, as the market will increasingly value this stock.

Ethereum Prediction 2024-2025
Bullish: 10000 – 12000 $

Advertisement

Best Broker for Ethereum
eToro: Sign up – or try the Demo Account

Best Exchange for Ethereum
Binance: Sign Up

How to invest in ethereum cryptocurrency ?

  • Buy Ethereum with eToro
  • Buy Ethereum with Binance

Buy Ethereum with eToro

eToro (here for the official website) is one of the most complete broker platforms currently on the market: with a choice of over 100 cryptocurrencies always expanding, the possibility of investing in some shares with zero commissions, a minimum deposit of 50 dollars and different payment methods with many important circuits.

eToro is safe for its investors: the platform has been adequately analyzed by all the control bodies of the countries where it operates, in fact in Italy it has been analyzed and approved by CONSOB. Another important feature is to allow new members to open a demo account, so as to start taking their first steps in the world of investing without risking their deposit.

Once you are ready and you have perfectly understood what the mechanisms behind online trading are, then you can complete the registration and enter the first deposit directly from the details of your credit card.

  • Commissions: 0.1% to 0.4%
  • Available Cryptocurrencies: 100 ( including Ethereum )
  • Minimum Deposit: $50

Leave your vote

Continue Reading

Price prediction

Crypto Celsius Forecast (CEL) 2022, 2023-2024-2025-2030

The world of cryptocurrencies is rapidly expanding more and more, allowing you to carry out many advantageous trading operations even to those who are not an expert in the field of finance and investments.

Among the cryptocurrencies that are taking hold the most, Celsius should undoubtedly be mentioned: its official name is Celsius Network, and allows registered users (it should be emphasized that registration takes place totally free) to borrow or lend blockchain assets to other users.

Crypto Celsius forecasts until 2030

Celsius Forecast 2022
Bullish: 5 – 6 $

Celsius Forecast 2023
Bullish: $8 – $10

Celsius Forecast 2024-2025
Bullish: $14 – $16

Advertisement

Best Broker for Celsius
eToro: Sign up – or try the Demo Account

Best Exchange for Celsius
Binance: Sign Up

Being able to make a truthful prediction about the possible trend of cryptocurrencies in future periods is always extremely complicated: these are in fact trends whose fluctuations are based on a very large number of different factors that interact simultaneously. However, rough estimates can be made, going to predict possible trends in general.

During this year and next, so it could be said over the two-year period 2022-2023, experts in the sector predict that Celsius will record a slow but steady growth, thus going to generate a good margin of income for those who decide to invest in this crypto.

The following period could cause a slight setback: it is on average highly likely that a period of slowdown or even decline will be observed, following one of constant increase. However, these are not worrying estimates: it should be a completely “physiological” decline, which will in no way have a financially negative effect on those who have made investments in this area.

Advertisement

The years that will elapse between 2025 and 2030, still very far away, perhaps too far away for any forecast to have a good margin of truthfulness, still suggest a new gradual ascent, which will therefore bring appreciable benefits to investors.

Best Platform to Invest in Crypto Celsius

The platforms dedicated to the trading of cryptocurrencies are increasingly numerous and efficient. However, to keep yourself safe from any kind of potential risk and have the opportunity to make investments exclusively in a completely safe way, it is of fundamental importance to choose with great care and attention the platform on which you are going to move.
The safest currently available on the web are eToro, binance, coinbase and crypto.com.

It is absolutely advisable to choose one of these platforms also for the purchase of the Celsius crypto: in this way, you can be sure to guarantee a good profit margin thanks to your investments, without taking any kind of risk and always acting in total reliability and security.

The choice of the platform on which you decide to make your investments is a fundamental operation to keep yourself safe from any potential scam or problem related to the insertion of sensitive data on the network. So here are the key features of the best platforms:

Buy Celsius with eToro

eToro, one of the most famous platforms for buying and selling cryptocurrencies, allows all its users to make trades without paying commissions. Withdrawals and deposits can be made directly from your personal account via one of the methods authorized at the time of registration: in most cases, it is the credit card.

Advertisement

The minimum deposit required by eToro amounts to 50 Euros, in addition the cryptocurrencies currently available on this platform are 48.

Buy Celsius with Binance

Binance is the second most reliable platform we want to recommend. The minimum deposit that this platform requires to start investing amounts to just 10 Euros, the sore point is instead represented by the commissions, which vary in percentage according to the type of operation carried out and the value of the amount in question.

Making deposit and withdrawal operations on Binance is quite simple: it is in fact only necessary to enter your wallet and then click on the button corresponding to the operation you want to perform. The cryptocurrencies available on Binance are over a hundred, the range is therefore remarkably wide, suitable for the needs of each investor.

Buy Celsius with Coinbase

Coinbase is another of the best platforms. With only 10 Euros, the minimum deposit required, you can start investing, choosing from over one hundred different cryptos. The fees amount to just 1% if the payment is made by bank transfer, while for payments by credit / debit cards it rises to 3.99%.

Buy Celsius with Crypto.com

Crypto.com is another of the most serious and reliable platforms. It requires a minimum initial deposit of 100 CRO, and the fees on its trades are variable, but both average around 0.1%.

Advertisement

To make deposit or withdrawal operations, you enter your wallet, click on the “balances” button and then on the button corresponding to the operation you want to perform. The choice between the available cryptocurrencies is very wide: the range amounts to a number of more than a hundred.

Leave your vote

Continue Reading

Trending

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.