bill this year would be 47%.
I’m sure you can understand why this is a big deal. In 2017, the Danish tax authorities said that Bitcoin was like trading with marbles and not secure, but that it was tax-free. Fast forward to 2018, and they’ve changed their tune and have implemented a complex and punitive taxation system.
The most immediate consequence of this new policy is that crypto traders in Denmark are now faced with a huge tax bill. The new system means that traders are taxed like they would be on their normal salary, which can be up to 47%. This means that even if you don’t profit, you still have to pay taxes.
The Danish tax authorities have also made it difficult to understand exactly how to pay these taxes. They haven’t provided any guidance on how to calculate the taxes, meaning that traders have to do their own research to figure out how much they owe. This has put many crypto traders in a difficult situation and has caused many to abandon their trades and turn to other investments.
The new taxation system has also had a negative effect on the crypto industry in Denmark. With such high taxes and lack of guidance, many traders have been deterred from investing in crypto. This has caused a slowdown in the industry and is a major concern for those involved in the crypto space.
The Danish tax authorities have created a system that is both punitive and complicated. It has caused many traders to abandon their trades and discouraged new traders from entering the crypto market. The high taxes and lack of guidance have also had a negative effect on the crypto industry in Denmark, resulting in a slowdown. It’s clear that the tax authorities in Denmark have made a mistake, and it’s up to them to rectify the situation.