Receiving income from Bitcoin mining activities generally falls outside the scope of VAT. Similar to the United Kingdom, the exchange of cryptocurrency for foreign currencies is exempt from VAT. Profits or losses from exchange movements between cryptocurrencies and other currencies are taxable for all companies. Companies subject to the ordinary corporation tax regime should include the profits on exchange movements between currencies in the taxable profits, and losses are deductible. In this case, all profits are subject to tax, including trade tax. In some instances, profits may be taxable as capital gains, current income, or youtu.be exempt. However, if the bullish retest fails, the BNB price may fall back to $229 at the bottom of the consolidation range. After a 50% fall in June 2023, the Binance coin price is stabilizing above $200 and has climbed back to $250.
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