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India Considers Taxing Cryptocurrency at 18% As ‘Intangible Property’: Reports

Published 05/23/2018, 07:35 AM
Updated 05/23/2018, 09:02 AM
India Considers Taxing Cryptocurrency at 18% As ‘Intangible Property’: Reports

India is working on proposals to make cryptocurrency transactions subject to goods and services tax (GST), sources told Bloomberg May 23.

According to the anonymous parties with “direct knowledge” of the plans, the government’s Central Board of Indirect Taxes is considering applying the 18 percent tax to exchange operations, which it would view as “intangible goods.”

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