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Indian Firms Face 30% Tax on Crypto Payments to Staff – ET

The tax will be levied on the difference between the cost of the acquisition of the asset and the transfer price to the employee, the report said


Employers in India who offer cryptocurrencies as compensation to employees will have to pay 30% tax on the virtual digital assets, the Economic Times reported
In the case of the employees, the transfer price would be considered the cost of acquisition. File photo: Reuters.

 

Employers in India who offer cryptocurrencies as compensation to employees will have to pay 30% tax on the virtual digital assets, the Economic Times reported, citing unnamed officials privy to a clarification that the government is likely to issue this week.

The tax will be levied on the difference between the cost of the acquisition of the asset and the transfer price to the employee, the report said.

Read the full report: The Economic Times.

 

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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