BRUSSELS: Belgian Special Tax Inspectorate (STI) is looking for Belgian individuals who have invested in cryptocurrencies in foreign exchanges, local news outlet De Standaard reported Friday, March 2.
After receiving information from Finnish authorities that several Belgian taxpayers had been trading on Finnish crypto exchanges.
According to a rule introduced in Belgium last year, crypto speculators are obliged to pay a 33 percent tax on crypto profits, filed under the “various income” section on the tax form.
Due to the anonymous nature of crypto trading platforms, De Standaard writes that the crypto tax rule has been hard to enforce. However, the STI plans to follow the example of the US’s Internal Revenue Service (IRS), which legally compelled US-based crypto exchange and wallet Coinbase to turn over the data on around 13,000 customers for tax enforcement purposes.
Belgian tax authorities will try to use the double taxation treaty between Belgium and the US as a way to get information about possible Belgian Coinbase users, according to De Standaard. The STI also plan to send similar requests for information to crypto exchanges generally to find out whether any Belgian taxpayers are customers.
