Cryptocurrency Payroll: A Multinational Tax and Labor Law Comparison
For employers paying employees using digital currency, keeping track of a whole new host of compliance issues has become just as daunting as figuring out which newfangled token might turn into the next big thing.
Tax and payroll treatment of digital currency wildly varies among countries as regulatory bodies struggle to keep pace with the rapid spread of new technology.
Cryptocurrency or digital currency payment options may seem attractive for multinational employers and international payroll professionals, particularly for employment in parts of the world without developed banking systems or stable currencies.
This strategic white paper examines approaches to key payroll compliance issues related to digital currency in more than 20 countries that have begun to explore the treatment of digital currencies for tax and wage payment purposes.