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The law & receiving cryptocurrency payments?

  • 27-06-2021 11:59am
    #1
    runswithascript
    Registered Users, Registered Users 2 Posts: 2,811 ✭✭✭


    Is there any legislation around obligations on Irish citizens regarding tax or anything else if they were to provide an invoice to someone in the UK (containing just a name and email address) and receive a transfer in return for a cryptocurrency like BUSD or any other?


Comments

  • #2
    [Deleted User]
    Posts: 5,121 ✭✭✭ [Deleted User]


    Loads of legislation going back centuries.
    Whether you choose to be paid in eur cash, gbp transfer, crypto or carrots is academic.


  • #3
    runswithascript
    Registered Users, Registered Users 2 Posts: 2,811 ✭✭✭runswithascript


    My preference is for payment in carrots rather than sticks.

    I would like to provide an online service that would generate a modest monthly income of several hundred USD but if I were to register as a contractor or self employed it could cause problems for my university grant.

    I am happy to pay a tax, it is the ramifications of doing so that are a problem for me.

    With this in mind is there some way I could receive the funds but keep within the law perhaps deferring making an official tax payment for several years until after I finish my degree, or if a family member were to instead provide the invoice and receive payment would that be an issue?


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