Swedish Man Nearly $1 Million in Taxes For 10,000 Bitcoin Trades
A Swedish crypto trader, Linus Dunker, was amazed to receive a bill for almost $1 million from the Swedish Tax Agency. He aid the tax demand is “unreasonable.” The case is one of a growing number of cryptocurrency-related cases being taken up by the agency, with several bitcoin traders receiving tax bills for millions of Swedish kronor since last year.
The STA has indicated an interest in prosecuting cryptocurrency cases since crypto trading became popular in the country.
In 2018, the STA opened investigations into the activities of up to 400 Swedish crypto traders. This is 10 times more than the previous year.
Henrik Kisterud, STA control coordinator says last year’s results, which brought to light a number of unrecognized activities would result in more resources being allocated to crypto investigations this year.