I propose to create a first guideline helping Traders, Publishers and Liquidity Providers on how to collect all the needed data to prepare their income tax statements for the year 2020. This is NOT about doing the income statements and legal advice, the focus is collecting the right data to make it easy.
This is an idea for somebody to take it, I will not do it myself as I have too much on my hands.
Two things in life are sure: Death & Taxes.
This proposals would tackle to following points (with a focus on German taxation):
- Proper documentation of taxable events
- Taxable Events for Publishers
- Taxable Events for Liquidity Providers
- Taxable Events for Traders
- Taxable Events for Consumers
As I am not a professional tax consultant in any way I strongly propose that you discuss all the matters with your tax consultant & lawyers, but as you need to prepare all your documentation before consultation this proposal covers the homework you need to make before you can begin your tax statements for 2020 (data collection).
Please let me know if you would like such a explainer / guide and discuss here. If you like the idea feel free to take it or make a nice app out of it or propose content for this.
This proposal will be grown and edited depending on the feedback from the community.
One important thing: I guess this will NOT be a full grant proposal, but a smaller one if the community would like to have it, depending if software development is involved (which could be done at a later stage).
Looking forward to discuss this and hopefully somebody makes something useful out of it.
The need for this might not be there yet, but maybe this could even used to get a bounty for great ideas that will be completed by others to stimulate the DAO creativity and input.