09 Jan 2018
Louis Roy
Partner | CPA, CA | Digital and technology consulting

Can you pay your suppliers using cryptocurrency? A young entrepreneur from Trois-Rivières thinks you can and plans to give it a try!

Virtual currency and mandatory reporting

Louis Roy, Raymond Chabot Grant Thornton Partner and Leader of the Catallaxy subsidiary stated, “Bitcoins are increasingly popular, because their value is constantly fluctuating. However, taxes are payable on every transaction. As a result, if a supplier agrees to be paid in bitcoins, he or she will have to report the gain or income and this is something very few people are aware of.”

For more information on bitcoins and cryptocurrencies, read the article published (in French) in the Nouvelliste.

09 Jan 2018  |  Written by :

Mr. Roy is a partner at RCGT. He is your expert in assurance for the Montréal office. Contact him...

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