1 option
Taxing Cryptocurrencies / Katherine Baer, Ruud A. Mooij, Shafik Hebous, Michael Keen.
- Format:
- Book
- Government document
- Author/Creator:
- Baer, Katherine.
- Series:
- IMF Working Papers; Working Paper ; No. 2023/144
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (35 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2023.
- Summary:
- Policymakers are struggling to accommodate cryptocurrencies within tax systems not designed to handle them; this paper reviews the issues that arise. The greatest challenges are for implementation: crypto’s quasi-anonymity is an inherent obstacle to third-party reporting. Design problems arise from cryptocurrencies’ dual nature as investment assets and means of payment: more straightforward is a compelling case for corrective taxation of carbon-intensive mining. Ownership is highly concentrated at the top, but many crypto investors have only moderate incomes. The capital gains tax revenue at stake worldwide may be in the tens of billions of dollars, but the more profound risks may ultimately be for VAT/sales taxes.
- Notes:
- Description based on print version record.
- ISBN:
- 9798400253898
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.