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Home Tech Crypto Norwegian authorities urge crypto users to declare earnings on upcoming return

Norwegian authorities urge crypto users to declare earnings on upcoming return

Document Analysis NLP IA

378
WORDS

WORDS
1:53
Reading Time

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neutral
sentiment

Sentiment0.052095238095238
objective
redaction

Subjectivity0.2947619047619
probably it's an affirmation
Affirmation0.38218390804598

Highlights

RELEVANT
FREQ, RAKE or TFIDF
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ORG
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PERSON
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OTHER
Key Concepts (and relevance score)

Summary (IA Generated)

The Norwegian Tax Administration has issued a warning to crypto traders in advance of the April 30 deadline to file tax returns.

‘ The NTA said roughly 2% of cryptocurrency holders declared what tokens they owned or earned in 2019, less than 4,700 people out of an estimated 235,000.

‘We think a lot of the gap is due to the fact that some crypto owners mistakenly assume that cryptocurrency is pre-filled in the tax return and have not thought that they are the ones who have to list this,’ said NTA senior adviser Marius Johansen.

The NTA explicitly urged taxpayers holding back declaring their crypto earnings that they were not anonymous.

Johansen said crypto transactions are ‘more visible than many people think’ and the agency was following activity closely, identifying ‘many tens of thousands of people’ who previously didn’t report their taxes properly.

In Norway, the NTA reported roughly $20 million of taxed income came from crypto holders.


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