Denmark Tax Agency Clarifies Taxation of Gains From Bitcoin Sales

The Danish Customs and Tax Administration Jan. 30 posted online City Court Decision No. SKM2026.61.BR, clarifying the taxation of gains from bitcoin sales. The taxpayer, an individual, was taxed on gains from the sale of bitcoins and forked cryptocurrency, arguing that the assets were originally purchased in 2011 to use as virtual payment in online gaming. The Tax Agency held that the coins were acquired later, in 2013, when bitcoin was already widely viewed as speculative. In a previous decision, the Capital Nord Tax Appeals Board held that the taxpayer wasn’t liable to tax on the specified gains. On appeal, ...