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Do you deduct tax?
Do you deduct tax?
Updated over a week ago

Yep! We deduct and report tax on sales made in the 'closed loop'. This means coins purchased with Bits of Gold and deposited in the managed cold wallet were then sold from it.

Important info:
* Tax deduction on capital gains is 25% of the profit (except in cases where there are different tax exemptions).
* The final amount of money sent to your bank account after the sale will be after deducting the amount withheld for tax purposes. When the sell will be completed you will receive an email containing the total amount of the sale, the amount deducted for tax, and the final amount sent to your bank account.

* We cannot deduct tax on sales made from an external wallet. It is your responsibility to consult with an accountant and arrange for this.

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