ATK: Income from cryptovalouts, it's taxable income we'll take measures for those who don't

Kosovo's Tax Administration said it reminds all non-aligned physical persons, business physics and legal persons that they are obliged to declare and pay income taxes from cryptovalutat, “real and timely”, as defined by tax legislation.

ATK warned that it will constantly focus on the very ones who do not declare the revenues realised and do not pay taxes.

With particular focus, ATK says it will focus on the identification and treatment of people who achieve revenues from cryptovaluts.

“Tax duties for revenues made by cryptovalouts depend on what status is in the person who has achieved income, like:

-If the status of the person who has achieved such income is a non-apharist physical Person or a business person, he should enforce the legal provisions defined by Law No. 05L-028 for Personal Future Tax;

-If the status of the person who has achieved such income is a legal person, he should enforce the legal provisions defined by Law No. 06/L-105 for Taxation on Corporation Order”.

The statement and payment of the tax on incomes carried out by cryptovaluts should be made by norms and with the following forms:

“If the person creates losses, then for such losses hold specific evidence, which should be available to ATK whenever required”, ATK said.

For non-afrist physical persons, business men and legal persons who do not declare the revenues realised and do not pay taxes, ATK warned it would take measures under tax legislation.

The Kosovo Tax Administration calls on all persons to declare the revenue created or to correct their statements as soon as possible and to fulfil all tax obligations ahead of tax legislation.

With tax obligations performed, you directly contribute to funding government programmes such as: providing public services, education with high standards, health and social well-being, legal protection and security, as well as general infrastructure for better economic and social welfare”.