Sling Money is not able to provide tax advice. You should consult a qualified tax advisor to understand whether you have to report Sling Money transactions to your local tax authority and whether they may represent gains or losses.
When you add money to your Sling Balance, your funds are converted into digital dollars or digital euros. When you withdraw, they are converted back to your local currency. In some countries, this may be considered a reportable virtual currency transaction.
Account Details and tax reporting
If you use Account Details, your deposits are received through our partner Bridge and are immediately converted into digital dollars or digital euros, which may be considered a taxable event depending on your local tax laws.
Your Account Details are not traditional financial accounts, so we recommend consulting your tax advisor to understand whether you must report your activity on Sling Money.