Are you going to pay taxes? - page 18.

Stegobit

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Quote from: Davinus on December 21, 2017, 01:27:06 AM

The only ones who are going to really need to pay taxes are those who are on the UK & the US, the other ones can easily withdraw or just exchange their bitcoins for fiat in p2p

Strange, I have never heard that you cannot sell Bitcoin privately (P2P) in US & UK. I see a lot of ads on Localbitcoins from these countries.

Quote from: Sithara007 on December 21, 2017, 02:36:45 AM

It is not that simple. For example, here in India the rules are even more strict than those in the United Kingdom or the United States. Recently, the authorities decided to send legal notices to close to 600,000 people (which represent 95% of all the Bitcoin users in India). And once you receive the notice, be prepared to go through all sort of red tape and torture.

Knowing corruption level in India, I would fear if have declared Bitcoin income here. However, they cannot find people who trade only P2P and don't use exchanges. Of course, VPN is a must have for any bitcoiner in the world!

Quote from: kylekyle2000 on December 21, 2017, 07:04:27 PM

I already am paying my taxes. It is my way of doing and exercising my responsibility to the government in order to support it so they can improve the country.

You still believe govt members will use your taxes to improve the country and not their own standards of life?! Grin

Quote from: Tokener on December 21, 2017, 10:47:37 AM

Yes we are obliged to pay tax. Because we are covered with the government laws.

If a gangster on the street will ask you to pass him your wallet, arguing it is the law he passed, will you agree?! I don't think so! Govt is not different from this gangster, both are impostors!

patarfweefwee

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Activity: 420

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

That's a big no! I see where my taxes go and it ain't in making my neighborhood any better. I will do everything i could, every loophole and bend the rules in my favor to actually avoid paying taxes for bitcoin; actually pay taxes in general. I mean if i were in a country where i could definitely see where my taxes go. Like maybe free education, healthcare, impeccable infrastructure then i would gladly give half.

kylekyle2000

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I already am paying my taxes. It is my way of doing and exercising my responsibility to the government in order to support it so they can improve the country.

Andrej Peiboski

member

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At present is diffucult to understand what kind of taxes you have to pay. At least in Europe, there is still no clear regulation, so I don't see any reason to worry. Then, we'll see.

Saksham

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

even if i don't like to say this but it is normal to pay taxes, it is in the common interest so i don't see a reason why someone would not pay the taxes no mater the income.

Mobshady24

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Activity: 266

Merit: 105

There is no such tax that is almost half of what you earn as far as i know, as long as the tax i am going to pay is reasonable and withing my capacity to pay it's fine with me because without taxes our government can't do its duties to protect the welfare of its citizen.

rhyajelle

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

for now I have not paid taxes from my bitcoin earnings, because in my country now bitcoin also has not been officially received. but maybe later when bitcoin is officially received I will start paying income tax from bticoin,

Brunus

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Rasputin Party Mansion

In a lot of countries there is something about taxation of capital gains, but if you kept the anonimity (not too difficult) it would be very difficult for the goverment to catch you.

Btw, even if you want to pay taxes, if we talk about bitcoin at present it's difficult to understand what do you have to pay exactly.

In Europs we're expecting some news from Bruxelles.

Tokener

member

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Yes we are obliged to pay tax. Because we are covered with the government laws.

Orino Suimuri

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RedTube & Rasputin Party Mansion

Actually, I'd try any legal trick to not pay taxes.
I don't understand why we - little people - need to pay taxes and taxes, when big corporations find all the time a way to pay ridicolous sums.
So, it's not about to not pay taxes, it's about to not be robbed by terrocrats!

@matthew17

newbie

Activity: 112

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Even that I don't want to pay taxes in my country taxes are everywhere .If you buy in grocery stores ,malls or even paying in toll gates their are taxes to pay so what I can do . I will pay !

wndrbr3d

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It depends on country where you lives.
If it is highly developed state which take care about it`s citizens - why not?
But if it`s greedy and have a high level of corruption - i dont have to pay anything.

dama12

newbie

Activity: 39

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For those whining about how this tax plan is going to binifit the wealthy.consider this,it is atax break, it make sense that the people who will be affected the most would be the people who pay the taxes.

Sithara007

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Quote from: Davinus on December 21, 2017, 01:27:06 AM

The only ones who are going to really need to pay taxes are those who are on the UK & the US, the other ones can easily withdraw or just exchange their bitcoins for fiat in p2p, i can not understand why you all are doing such a chaos instead of withdrawing in fiat.

It is not that simple. For example, here in India the rules are even more strict than those in the United Kingdom or the United States. Recently, the authorities decided to send legal notices to close to 600,000 people (which represent 95% of all the Bitcoin users in India). And once you receive the notice, be prepared to go through all sort of red tape and torture.

PIR

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CRYPTOBLADES Octoblades 10.10

well for me I think I will not pay taxes through Bitcoin I will either save it or invest it I am an employee of a corporate company and earning my income through that then from that job I will pay taxes but not with Bitcoin because other did not recognize it as work to require of taxes coz government hasn't recognize it yet but if in the future that taxes through form of currency then maybe.

Davinus

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The only ones who are going to really need to pay taxes are those who are on the UK & the US, the other ones can easily withdraw or just exchange their bitcoins for fiat in p2p, i can not understand why you all are doing such a chaos instead of withdrawing in fiat.

jwuanah

newbie

Activity: 45

Merit: 0

Yes of course i will pay the taxes if it need to pay.

KrLos

hero member

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

Reliability and security is one of the main advantages of bitcoin. Therefore, I would advise conducting as many operations as possible through blockchain, in bitcoins. To avoid paying taxes for cashing out

Stegobit

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Quote from: Sutters Mill on December 20, 2017, 07:17:41 AM

You might be able to hide your income fairly well but good luck trying to explain where you got all the money from to fund your own lavish lifestyle when you're clearly living well beyond your means. It's no good having a load of money just hidden when you can't even spend it but if you try to buy a house or start buying yachts for yourself etc you'll soon catch the eyes of the law and you'll have a lot of explaining to do when they ask you how you can afford all this nice stuff.

Quote from: coolcoinz on December 20, 2017, 03:34:33 PM

That's as long as the transaction doesn't concern any real life goods. Try buying a house or a car and you'll see how fast the authorities come knocking on your door.

If you want to easily make such big purchase, you can pay taxes only from the corresponding amount. From legal point of view you can declare that you have found buried treasure and in most countries only income tax will apply in this case. If you will show up all your earnings, you will have to pay much more!

Quote from: Sutters Mill on December 20, 2017, 07:17:41 AM

Bottom line is if your country requires you to pay taxes then you should. If people don't like them then there are plenty of countries that have no taxes or very little that you can emigrate to.

Why I need to emigrate? Maybe some impostor (govt members) must emigrate to the Mars?!

Quote from: Sutters Mill on December 20, 2017, 07:17:41 AM

I don't think the threat of prison, fines or criminal records is worth the hassle personally and I don't mind paying reasonable

BTW, prison is good place to recruit fighters who will hang bastards, who captured the power and want to act like God.

Quote from: Sutters Mill on December 20, 2017, 07:17:41 AM

reasonable being the keyword here - taxes as long as they're spent on benefiting society and not wasted on needless wars and bailing out corrupt banks when they fuck up after gambling with other people's money.

Be honest, how many government in the world are honest and think about population's good? 3..5..maybe 10? I don't think more!

Quote from: Cling18 on December 20, 2017, 05:12:27 PM

If I wouldn't have any chances not to pay taxes then I wouldn't but if it's abided by the law, I will follow the rule. It is part of our duty as citizens of our country.

Country and people ≠ state and government!

Rozcobs

member

Activity: 67

Merit: 10

Yes we have to pay taxes the right way and the right amount. One of them is the income tax. To be a citizen in a country where law executes to take taxes from its people so they have to implement it. How many millions you have there would be very hot in the eyes of the public if you let them know it. So to not go into legal complaints in the future, have to pay appropriate amount to the government.

Topic: Are you going to pay taxes? - page 18. (Read 18727 times)