What does it mean for my offshore company if it only receive BitCoin payments?

[negon]

I wonder what the outcome in matter of tax would be if my offshore company only holds a bitcoin wallet and that way only receive BitCoin payments, keep the profits in BitCoins and never exchange it?!

Do you think that we will have to be taxed on that income? What I mean is, since many countries do not recognized BitCoins at all to be a valid currency then how will they charge us for tax evasion?

I found a interesting list Legality of bitcoin by country - Wikipedia where it is possible to see what countries are actually going to regulate BitCoins!

 

[hungryit]

Would say no. If a country does not regulated or even recognize a currency how should it be illegal to have 1 million worth in bitcoins?

 

[pesto]

great topic I believe you get no troubles with the tax office as long as you keep your assets in BitCoin, would really like to know what they say 😀

 

[JohnLocke]

I would recommend you to consult a tax lawyer this time. Just to make sure that you are not caught to do something you thought was legit 🙂

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​