Avoiding double Taxation of Cryptocurrencies.

Avoiding double Taxation of Cryptocurrencies.
The articles I cited earlier, describe the proposed principles for taxing cryptocurrencies, taking into account the possibility of simultaneous use as a single asset, which is both shares and currency, and also indicate the mechanism for patenting intellectual property.

It is necessary to note the advantages of the method of taxation proposed by me in comparison with the direct and / or hidden methods of taxation currently offered based on the ChatGPT technology.

Taking into account the fact that the business model of all existing types of ChatGPT (and their other similar solutions) is based on the free use of these products with the subsequent presentation of part of the rights to use software solutions created with the help of ChatGPT (and analogs), in fact, this solution will be another hidden taxation on the intellectual property of developers of software products, which are cryptocurrencies is.

However, the taxation model, proposed by ChatGpt, does not allow for a simple (not subject to various interpretations) separation of the type of use of cryptocurrencies (as shares or directly as currencies).
And also deprives the developers of some part of the intellectual property rights.

All together, this creates the prerequisites for further opposition to this decision on the part of developers and also puts those developers who intend to use digital assets as a currency in a deliberately unequal situation.

The possibility of different interpretations will require an exorbitant growth of bodies controlling this process, which will create the case of another increase in human errors and a repetition of the situation with a complete stop of business processes.

The tax scenario, I propose, not only allows crypto to be used as two tax models with the possibility of a simple regime change but also leaves the developer with full intellectual property rights, which is especially important for small businesses.
July 12 / 2023

Text author: Ihar Kul


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