08 dezembro 2022

Há futuro na taxação das criptomoedas? Talvez não

O artigo é teórico, mas indica que haverá uso de baixa contábil para reduzir a taxação. Eis o resumo:

We describe the landscape of taxation in the crypto markets, especially that concerning U.S. taxpayers, and examine how recent increases in tax scrutiny have led to changes in trading behavior by crypto traders. We predict under a simple theoretical framework and then empirically document that increased tax scrutiny leads crypto investors to utilize legal tax planning with taxloss harvesting as an alternative to non-compliance. In particular, domestic traders increase taxloss harvesting following the increase in tax scrutiny, and U.S. exchanges exhibit a significantly greater amount of wash trading. Additional findings suggest that broad-based and targeted changes in tax scrutiny can differentially affect crypto traders' preference for U.S.-based exchanges. We also discuss other gray areas for tax regulation related to new crypto assets such as Non-Fungible Tokens and Decentralized Finance protocols that further highlight the importance of coordinating tax policy and other regulations.

Um trecho importante faz uma ligação da literatura contábil com o assunto:

First, notwithstanding increasing empirical research on cryptocurrencies in the economics and finance literature, accounting research on crypto assets is in its infancy. Cao, Cong, and Yang (2019) and Cao, Cong, Han, Hou, and Yang (2020) examine blockchain design and impact on financial reporting and auditing. Empirically, Bourveau, De George, Ellahie, and Macciocchi (2021) and Lyandres, Palazzo, and Rabetti (2021) examine the roles of analysts and disclosure in unregulated initial coin offering (ICO) markets and post-ICO operating performance. Amiram, Jørgensen, and Rabetti (2022) exploits a blockchain-enabled transparent accounting system to detect terrorist-associated transfers. Tang and Zhang (2022) examines country-level regulation effects on crypto adoption. Cong, Harvey, Rabetti, and Wu (2022) assembles a diverse set of public, proprietary, and hand-collected data, and using accounting forensics assess the economics of crypto-enabled cybercrimes. Luo and Yu (2022) compares and contrasts U.S. and international accounting and financial reporting practices for cryptocurrency. Our study is, to our knowledge, the first study of crypto markets from a tax perspective, in particular to provide evidence that changes in tax scrutiny are affecting trading behavior in these markets.

Foto: Giammarco

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