Altcoin trading tax in Bulgaria

[altcointrader]

Hey

I cite from this article:
"If you buy one bitcoin at $500 and then later purchase goods for $600 with this bitcoin, you are not liable to pay taxes on the realized gain of $100."
http://www.coindesk.com/bulgarian-bitco ... -loophole/

Does this mean there are no taxes if I trade altcoins in Bulgaria?
For example:
I hold LTC and sell after a week with 50% profit to buy BTC/ETH or even USDT means 0% tax?

How do you handle crypto trading taxes in Bulgaria if you only trade but never cash out to a bank account?

[stylius]

Hi,

There is no Crypto-currency specific laws in Bulgaria. Still any income must be declared. The closest example are the stock shares, where you declare them at the price of acquisition when you acquire them.

Let's say you acquire stock shares for CompanyX at total value $500 today and after two years they are valued $600 and you sell them. You need to declare them until April 2018 at value $500, because your declaration must include all income for the fiscal year 2017. Then you must pay 10% flat tax to the value of acquisition or $50 to the state. It does not matter what value you sell the shares in 2018, you've already paid the tax for the shares. I imagine crypto-currency trade profit should be declared the same way for the time being.

If you're still in doubt, it might be best to consult a professional accountant. It is unlikely you would see such person in a bitcoin-related forum.

[dedmaroz]

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[jkminkov]

there's 10% flat fee, you can launder your dirty money here, also you can apply for a citizenship too, you need a deposit in a local bank worth 50K euro, and probably 2-3K in taxes, 10% fee for money laundering is a bargain!

[Ivan.D]

What happens if you trade with btc/ exchange btc for another cryptocurrency? Lets say that a person exchanges it for eth, then for ltc and at the end of the period the amount of btc has been doubled. Does every trade count as a new acquisation, respectively should you declare it?