"Have the "coin boys" paid their taxes? Ministry of Finance: Strengthening tax inspection mechanisms, discussing measures within 3 months"

Donald Trump's election as the President of the United States has led to a celebration in the cryptocurrency market, with BTC breaking through $93,000 at one point, setting a new record. KMT legislator Lai Shih-pao expressed concern today (18th) about the taxation of cryptocurrency in Taiwan. Minister of Finance Su Tsui-chun stated that profits from buying and selling cryptocurrency are already subject to 'income tax,' but since it is 'self-reported,' she admitted that 'the audit mechanism can be further strengthened' and promised to study related measures within 3 months.

The Finance Committee of the Legislative Yuan today reviewed the relevant budget of the 114 (2025) Ministry of Finance, Zhuang Cuiyun led the heads of relevant bureaus and departments to attend the consultation, and Kuomintang legislator Lai Shibao pointed out the problem of taxation of cryptocurrency transactions when questioning: "Many people have made money, has the IRS taxed?"

Taipei National Taxation Bureau Director Wu Lianying stated that 26 virtual asset operators who have completed the Money Laundering prevention law compliance declaration have registered for taxation and also paid business tax and operating tax.

Regarding personal income tax, the Director General of the Taxation Agency, Song Xiuling, pointed out that cryptocurrency is not a currency but belongs to 'digital assets'. The related buying and selling income can be regarded as 'property exchange gains' for taxation purposes and must be declared in the 'comprehensive income tax return'. If the transaction results in a loss, it can be deducted and claimed as a property transaction loss.

Song Xiuling stated that the National Taxation Bureau currently has digital tools to audit transaction situations, to examine whether there are any cases of underreporting, and that after the Financial Supervisory Commission establishes special laws for Crypto Assets in the future, new audit measures will be implemented, with the Ministry of Finance also cooperating.

However, Lai Shih-pao still questioned that even if there is an audit mechanism, traders who have not been audited cannot actively pay taxes. In response, Chuang Tsui-yun emphasized:

I think since the first one has defined it as not a currency, but a virtual asset, it is an asset, so its transactions should be subject to income tax. Then next is how we should audit, how to do the audit part, we will discuss again.

dealer Tsui Yun promised to develop measures to strengthen the taxation and inspection of Cryptocurrency trading income within 3 months.

Has the 'coin fryer' paid taxes? Ministry of Finance: Strengthening tax inspection mechanism, discussing measures within 3 months. This article was first published in 'Block Times'.