Over the last couple of years, the use of Bitcoin has become popular, although many cryptocurrency users remain unsure about their tax responsibilities for its use. You are obligated to pay tax on this profit if you make a profit by using Bitcoin, even if you don't want to keep it.
There is a fixed threshold, however, at which you might be excluded from Bitcoin tax (in Ireland, it's EUR 1,270 per year). This infographic helps to provide a useful starting point on the subject, from defining Bitcoin tax obligations to what can be deducted and what must be disclosed.
Also Visit: Cryptocurrency Redefining the Future of Finance.
infographic by: allfinancetax.com