A posteriori, the Federal Administration of Public Revenue (AFIP) began to intimate investors who hold money in cryptocurrencies to provide the corresponding information on the disbursements made in said portfolios. It did so by requesting users of the main Exchange operating in the country.
“To verify compliance with the legally established conditions for the correct categorization and permanence in the Simplified Regime for Small Taxpayers, whose application, perception and supervision is in charge of this Federal Administration, it is required (…) detail of all the operations carried out with digital currencies from the period 09/2019 to date, “said the body led by Mercedes Marcó del Pont.
But nevertheless, The diversity of the spectrum of crypto assets makes it necessary to wonder if the payment of taxes also reaches those who make the purchase of assets or obtain income through the transaction of the same.
Currently, the world blockchain offers the possibility of exchanging digital currencies such as Bitcoin, Ethereum, Cardano, Solana and several tokens, and at the same time it also allows you to buy the so-called NFT or Tokens No Fungibles, which function as certificates of authenticity and ownership of a unique digital element, since it cannot be copied and those who acquire it become its exclusive owners.
As in the traditional art market, purchases made within the digital spectrum such as NFTs are not excluded from paying taxes, since it should be considered as part of the patrimony of a person and therefore pay Personal Property. Likewise, in case of making your sale and obtaining an income, you should pay income tax.
That is why, although the term NFT is not explicit in the current regulation, they can be understood as equity and at the same time, in the event of an exchange, the payment of Profits may be required when obtaining a differential for their sale.
The same happens in the case of cryptojuegos, better called play-to-earn. There are platforms like Axie Infinity, Alien Worlds Y CryptoMines, in which the user needs to buy tokens to play. As the ultimate goal of these platforms is to earn cryptocurrencies, they can also be subject to a tax claim.
With these games, the user can obtain the token and generate a profit according to the speculation of an increase in it over time, or he can obtain an income by interacting within the game itself, exchanging it for NFTs that in the different games can give you a reward for its use.
As with the purchase of crypto art, there is still a gray within the regulation since, being a relatively new and growing sector, the term is not made explicit either.
Despite this, it should be remembered that the purchase of digital assets is taxed by this year’s regulations. Therefore, if a user obtains a differential for the sale of assets such as NFTs or through virtual games (as is the case with sports), the AFIP requires the declaration of that income.
Beyond this, the recommendation to the user is to consult with an expert in finance, such as a public accountant, to be guided as to whether or not it is appropriate to advance in the presentation of a declaration before the tax authority.
Source From: Ambito
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