Revenue from Cryptomones must be declared at the Fiscal Form in the Unique Form 212

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Taxpayers who have earned revenue from cryptomonas, both through mining and acquisition by stock exchanges or in return for the sale of goods, will have to declare such income to the Fiscal Register by July 15, 2018, once the Unique Form 212 is submitted, warns experts of EY Romania, according to Mediafax

Revenues should be declared primarily for tax purposes (10%), and if they exceeded the threshold of 22,800 lei in 2017, they should also be declared for the application of social and health contributions – this is the case for people who are not employed .

If these cryptomonas (Bitcoin, Ethereum, Ripple, etc.) are recognized as a currency, the income is to be classified as investment income or financial activity, and if not in the "other income" category

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It is interesting that the financial income also takes into account the losses, so that only the difference between the gains and the losses can be declared, while the "other income" must be declared as such, the tax experts have stated.

"It is better to declare these revenues, even if the Fiscal is now based solely on voluntary compliance. However, the bank account is used to collect the revenues from cryptomonas, and there it will be all seen from the fiscal point of view, "said Gabriel Sincu, the coordinator of the Direct Tax Department of EY Romania

Fiscal experts also said that there are already people in Romania who "have earned millions of euros in cryptomonas and have put their issue of declaration. I recommended them to declare them, because it is safer. "

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