New Zealand salaries to be paid in cryptocurrencies from September 1
The country's tax office published a ruling making it legal for companies to pay their employees in cryptocurrencies on the condition that the value of the crypto-asset is pegged to one or more fiat currencies.
New Zealand authorities also require that the chosen cryptocurrency be directly convertible into a standard form of payment., B92 news portal writes.
According to the report from Business Insider, the ruling allows bitcoin – world's largest cryptocurrency by market cap – to serve as a form of payment for New Zealand workers when the law goes into effect September 1.
Draft Law has officially been submitted on August 7 and it also details New Zealand's plans to allow for bonuses to be paid in cryptocurrency.
This salary option will fall under national tax income system but the new law excludes the self-employed workers from switching their salaries into cryptocurrency.
The move is another step towards bringing the controversial digital currency into everyday payment methods.
Cryptocurrencies are relatively free of regulations and their untrackable nature has made them popular with anonymous online purchases
Most Important News
06.04.2024. | Agriculture
Preconditions for Placement of Fresh Blueberries and Dried Plums in Chinese Market Secured
16.04.2024. | News
Jovan Ciric, Leasing Director Retail MPC Properties – MPC Echo symbolizes our desire for good ideas and innovative endeavors to spread freely and bring about positive changes
16.04.2024. | News
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
Creative Industry – What This Serbian Economy Sector Worth EUR 2 Billion Encompasses
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
24.04.2024. | Construction, Healthcare
Price of construction of Tirsova 2 increases to EUR 141.6 million – Contract awarded to consortium of 10 companies
24.04.2024. | Construction, Healthcare
16.04.2024. | News
Economy Fair in Mostar opens – 26 companies from Serbia exhibiting
16.04.2024. | News
24.04.2024. | Construction, Transport
Dates of publishing of tenders for construction of three sections of fast railroad from Belgrade to Nis known
24.04.2024. | Construction, Transport