Bulgaria will review cryptocurrency transactions
The NRA will be responsible for carrying out an investigation to determine that the companies are complying with the regulations already established.
Recently, the National Revenue Agency of Bulgaria (NRA) explained that it plans to initiate investigations to all companies in the region that have businesses related to cryptocurrencies.
The security agency aims to ensure that companies are complying with tax and social security regulations.
It is no secret to public opinion that the NRA has shown concern with the issue of digital assets and the use of them for tax evasion.
Prior to this decision, the Bulgarian regulator conducted a survey of companies that have platforms for buying and selling online cryptocurrencies to determine if they were complying with the provisions.
In Bulgaria, the income that comes from electronic assets is declared once a year, generating a 10% tax rate because they are considered as profits.
Companies that derive profits from the sale of cryptocurrencies are subject to taxes under the Corporate Income Tax Law.
K. Tovar
Source: Cointelegraph
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