Saturday, December 30, 2023 3:53:45 AM
Laxmi has solved the problem for us. Because they will be selling shares/tokens for $10 to IRA clients.
This is what the Dutch tax office calls an "independent reference transaction"
And it overrules all other valuation methods.
There is some logic to this. Because $10 is what you can get for your shares in the market place, realistically.
It should be the same in Norway.
It would be very hard for you to argue that the shares are worth less than $10. If the company can sell them for $10.
And you risk being fined if you do.
So that's it. You have to use $10 per share per vertical.
If.... the company is able to sell them for $10 to IRA clients (soon).
As for the income tax or gift tax, I don't think it is relevant.
The book date was september 15 when we received the shares.
The companies didn't have any revenue. There was no independent reference transaction.
I think we can use value $0 for this purpose. Or perhaps $0.01.
---
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM
Element79 Gold Corp Files for OTCQB Uplisting, Provides Financial Update • ELEM • Jun 11, 2024 9:25 AM