Taxation of cryptocurrency transactions in Estonia
Taxation of virtual currency transactions depend on the nature of the transaction.
There is no direct taxation if the token is sold or bought similar to security or investment.
Sales are counted as normal/regular, even when payments for goods and services are received in virtual currencies. For accounting purposes the transaction must have the value in EUR and VAT rules apply as per usual/normal transaction. Payments for goods or services in the form of virtual currency does not free you from following VAT rules. If VAT is applied in FIAT currency payments then it should be applied in virtual currency payments as well. VAT returns must be submitted in EUR and VAT will be paid/returned in EUR.
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