What I am really wondering is whether cryptocurrencies, as programmable assets, can be designed to do the calculation with inputs from end recipients. If I send you SAFEX Cash to purchase your services on the Marketplace, if you are a citizen of the Eurozone, North America, Australia, etc, this is considered a taxable event for both of us.
In a marketplace where this is happening at lightning pace, we cannot expect anyone - buyers or sellers - to take the time to calculate taxes. It defeats the purpose of having a cryptocurrency marketplace, which will put a target on the operation from Tax Revenue Services in multiple countries, I think.
I do believe that this can be remedied through some sort of “Smart Contract” built into the currency - I am only guessing here, but I sense that it could be done.
If I wind up paying a short-term capital gains tax on every transaction, I am better off spending my Fiat on Amazon or elsewhere. This is what I think @jcasale is alluding to.
@dandabek - My overall concern is that Eurozone, North America, Oceania Citizens will not be so excited to use a marketplace where they can take a significant financial hit - a capital gains tax - on every transaction. Serbia, of course, will not have this challenge; however, other countries will. What do you and @Ivana think we can do to address this particular issue?