Along with South Africa, Norway faces difficulties with collecting taxes from crypto-related activities. The country’s authorities have become increasingly concerned about the fact that cryptocurrency miners may not be paying enough in taxes.
There is no special tax treatment for miners in Norway, they usually return less than five percent of their earnings, which is significantly less than other regulated industries in the country. As the local media outlet Dagens.dk reports, two miners who have recently reported more than $218,000 worth of earnings, only paid less than $9,000 in taxes.
A recent survey conducted by Norstat shows that as many as 200,000 Norwegians own Bitcoin.
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Arman Shirinyan