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02 August 2018

Luxembourg releases circular on the tax treatment of virtual currencies

The Luxembourg Tax Authorities issued an administrative circular (the Circular) on July 26, providing guidance on the characterization of virtual currencies and the tax treatment of income derived from related trading or mining activities by Luxembourg taxpayers. The Circular responds to some of the key questions on the tax treatment in the rapidly growing field of virtual currencies and contributes to creating more legal certainty for traders and miners of virtual currencies and operators of virtual currency exchanges and ATMs.

A Global Tax Alert, attached below, provides additional details.

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Document ID: 2018-1557

 

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