Income Tax Aspects of Cryptocurrencies - Legal and Young Economists' View in the Czech Republic

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Authors

HAMPL Filip

Year of publication 2020
Type Article in Periodical
Magazine / Source Balkans Journal of Emerging Trends in Social Sciences
MU Faculty or unit

Faculty of Economics and Administration

Citation
Web http://www.udekom.org.rs/balkansjetss2020311-10.html
Doi http://dx.doi.org/10.31410/Balkans.JETSS.2020.3.1.1-10
Keywords Income Tax Act; Natural Person; Survey; Thing in a Legal Sense; Virtual Currencies
Attached files
Description Cryptocurrencies are used not only as a payment instrument but also as a speculative and investment instrument. In the context of their use, the question arises of how and whether they should be taxed. The aim of the paper is to analyse and to assess the taxation of income from the cryptocurrency operations from the perspective of a non-business natural person in compliance with the Act on Income Taxes in the Czech Republic, concurrently to find out the attitude of young future economists familiar with cryptocurrencies to this tax issue and to identify socioeconomic factors influencing their attitude. For this purpose, an online questionnaire survey was conducted among economists aged 19-35 years in May 2019. A total of 269 responses were obtained and evaluated using descriptive statistics and ordinal regression. While, according to the effective law, income from all cryptocurrency operations is to be taxed, the results show that most of the respondents (44.98%) would tax the income depending on how cryptocurrencies are used.
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