Income Tax Aspects of Cryptocurrencies – Legal and Young Economists’ View in the Czech Republic

Abstract

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.

Cryptocurrencies, Tax Ignorance and Tax Noncompliance in Direct Taxation: Spanish Empirical Evidence

“…Our study closes an existing gap in the academic literature. Firstly, because, although there are previous studies on this issue, such as the Czech Republic study conducted by Hampl (2020), the Ukraine study conducted by Bondarenko et al (2019), Malaysia (Ter Ji-Xi et al 2021 or Germany (Steinmetz et al 2021), ours has focused on Spain. Secondly, although in Spain the phenomenon of Bitcoin and other cryptocurrencies adoption has been previously studied in general terms by Arias-Oliva et al (2019), or the factors affecting the unequal adoption between men and women (Alonso et al 2023a) or its adoption as a financial instrument (Gil-Cordero et al 2020), our research is different from the previous ones.…”