New Zealand greenlights Bitcoin salary regulation – but it’s still a bad idea

New Zealand greenlights Bitcoin salary regulation – but it’s still a bad idea
фото показано с : thenextweb.com

2019-8-12 14:02

New Zealand‘s tax authorities have deemed it legal for companies to pay its employees in Bitcoin and other cryptocurrencies. Companies will also be able to deduct income taxes using current PAYE (pay as you earn) frameworks under the Income Tax Act 2007.

The country’s Inland Revenue Department (IRD) published a bulletin (dated August 7, 2019) stating that the ruling was made under the Tax Administration Act 1994. (If you’re not up to speed on your New Zealand tax acts, the 1994 act typically governs the responsibilities of different government departments in relation to taxation. ) There are a few caveats, though. …

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Источник: thenextweb.com

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