According to reports, December 13, the tax controller of India began to investigate the work of the local exchanges of bitcoin is to identify individuals who evade taxes. Typically, such investigations are carried out without prior warning and include an extensive examination of books and related assets. According to the press Secretary of the tax authority, has studied the exchanges of Mumbai, Pune, Bangalore, Delhi, Hyderabad and Gurgaon.
None of the major cryptocurrency exchange Board of India has not yet commented on this post, except Coinome is a relatively new exchange. Operating officer of the exchange denies that he knows anything about this investigation. Most likely it is the stock exchange was launched only in November 2017, and the tax regulator is only interested in the profit from cryptocurrency received before March of this year.
The tax evasion and money laundering are the two main challenges that concern the tax authorities around the world, when it comes to bitcoin. And the higher the price of bitcoin, the more attention these issues are paying the regulators.
In September, the government of China banned
the holding of ICO in the country and forced the local stock exchange to immediately stop
work. Other countries were a little more moderate in his approach, but almost all warned investors that their profits from the sale of bitcoins will be taxed.
Despite the fact that the tax controller of India has decided to pursue
those who evaded paying taxes on crypto-currency market, Central Bank of India (RBI) continues to remain silent concerning the legal status of virtual currencies. However, due to the repeated warnings of the Central Bank in respect of the cryptocurrency it is obvious that the Indian government is very sceptical of bitcoin.
Earlier this month the country’s Central Bank issued a third warning. In this RBI said that cryptocurrencies pose potential risks, «financial, operating and legal protection of customers and their safety.»
In addition, in recent months in India have been disclosed several cases of fraud in the cryptocurrency industry. In October was caught by a gang, robbing buyers of bitcoins, and a week ago was uncovered fraudulent exchanger to enter money on the stock exchange cryptocurrencies.