But if someone is to claim that crypto is exempt from taxes one must prove that such exemption is clearly indicated in the law or executive pronouncements.
since there is no law about cryptocurrency here, still it falls to non_taxable, hehe
20,000 php income a month will have 0% income tax in 2018 table, still I have no tax on it
IRS of America issued a ruling that cryptos are assets and is taxable. Here in Ph, the rule of taxation that all income are taxable applies. Crypto income are taxable but the problem is how to extract the taxes since blockchain is hard to understand hahaha and peoples are the one who file and pay the authorities will have a hard time assessing the proper amount of taxes. It is just like gambling winnings. Gambling winnings are taxable but the question is who wants his winning from gambling to be taxed? haahaha so do not declare it as other income.. BIR only need to move and bwalah maybe one day crypto will be taxed if the government cannot benefit or extract taxes then maybe one day it might be banned hahahah.
Is it true that there is a Crypto Trading Platform (like Bittrex, Binance, Poloniex etc.) in the Philippines in cooperation with coins.ph?