Exploratory study on accounting and taxation of virtual currencies by Romanian companies

Mirela Paunescu ()
Additional contact information
Mirela Paunescu: Bucharest University of Economic Studies

The Audit Financiar journal, 2018, vol. 16, issue 150, 239

Abstract: As virtual currencies became more common and utilized by various users, companies or individuals, the question about if and how to tax for them could no longer be ignored. The rise and fall of Bitcoin in the last year, the increasing number of Initial Coin Offerings and the growing number of virtual currencies being launched recently, made everyone alert to the topic. This is why, lately, more and more regulators chose to come up with clarifications about how to account (and tax) for virtual currencies. Romania, unfortunately, is not one of those countries that chose to adapt their legislation to take into account virtual coins. Ambiguity governs the use of virtual currencies, their nature and the rules to account for transactions involving virtual currencies. In this paper, we analyze the difficulties faced by the corporate entities which use virtual currencies in their activity and so have to pay corporate tax.

Keywords: virtual currency; Bitcoin; accounting and reporting; taxation (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://revista.cafr.ro/temp/Article_9574.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aud:audfin:v:16:y:2018:i:150:p:239

Access Statistics for this article

More articles in The Audit Financiar journal from Chamber of Financial Auditors of Romania
Bibliographic data for series maintained by Dumitru Valentin Florentin ().