Bitcoin and not Paying Taxes - page 10.

MMA

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Quote from: rickadone on January 11, 2018, 05:46:14 AM

Quote from: Finestream on January 08, 2018, 07:27:32 AM

Quote from: Lucius on January 08, 2018, 06:32:19 AM

In some countries you can not pay tax on BTC even if you want,there are no rules and regulations regarding BTC.In some countries like Germany you do not need to pay tax if you sold BTC one year + after purchase,also Denmark is completely free from paying taxes regarding cryptocurrency.

There is always way to avoid paying tax when convert BTC to fiat,but if you want to sleep peacefully and your government is pretty strict on this issue then it is better to give them their share.

Yes that could be true.But in my country i do not see the government giving their full attention to cryptocurrencies so paying taxes is not an issue to us.But if one day there will be a law that states its compulsory to pay taxes on all bitcoin users,then of course i will be responsible enough to pay my obligation.If that tax will be for the good sake of everyone,then i see no reason for all bitcoin users to evade from it.

The day government will apply taxes on bitcoins, that day bitcoins would be accepted legally in the country. We will need to pay certain taxes for bitcoins than but that will also be much more safer to use bitcoins than. Bitcoins will be officially legal and also the price for bitcoins will than go much more above as compared to know. Actually I am waiting or that day to come through. I want to see bitcoins as legally accepted and also the price growth after that.

Yes that is very right, government can only impose tax on bitcoin if bitcoin is legal there, without making bitcoin as legal currency they cannot impose tax on bitcoin and that is the reason that still there is no tax on bitcoin. Japan is the only country who have accepted bitcoin may be very soon they as put tax on bitcoin income. but still i do not think that even they have imposed tax on bitcoin. We can hope that very soon other countries will also start accepting bitcoin as legal currency.

Omega Weapon

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Quote from: MrBigHang on January 05, 2018, 11:47:17 AM

I ran across this video a while ago on what can happen to you if you don't pay your taxes. At some point during your Bitcoin career, the cryptocoin will be converted to fiat and that's how they will catch you.

https://www.youtube.com/watch?v=hf2fNEUPjQw

You should pay your taxes, no one likes to do it but if you have to do it then just do it, it is better than the alternative which is to spend time in prison, no amount of bitcoin is worth spending a single day in a prison in my country, what you see in movies or in documentaries is an understatement of the life in prison, but at the end it is your decision to make.

pisston

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Quote from: krauzzer02 on January 11, 2018, 11:20:16 AM

Taxes are unavoidable and you are subjected and required to pay the amount that you owe to the government, you can't evade taxes as it is already imposed from the things that you are buying to your monthly salary, so before you get your money or your thing, taxes are deducted, it always depends on the countries that impose laws and restriction towards tax, if the government regulated bitcoin exchanges within your nation then you have to submit.

in fact, according to the laws of any country, every earnings must be paid taxes. But as they say that earnings should be legal, And how legal is the income in the crypto currency is unclear. Therefore, it is How can I pay tax for trade in crypto currency? I think that this issue should be solved at the state level and adopt the appropriate laws.

shield132

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Quote from: krauzzer02 on January 11, 2018, 11:20:16 AM

Taxes are unavoidable and you are subjected and required to pay the amount that you owe to the government, you can't evade taxes as it is already imposed from the things that you are buying to your monthly salary, so before you get your money or your thing, taxes are deducted, it always depends on the countries that impose laws and restriction towards tax, if the government regulated bitcoin exchanges within your nation then you have to submit.

Of course that's like that. Just imagine, people pay you woth gold and you received 10KG gold, won't you have to pay tax? Yes, because gold has it's value, paper is nothing without gold guys because gold is behind that paper. In any way, you have to pay tax of something that has value. And there isn't bitcoin regulated in many countries but you still have to pay tax.

krauzzer02

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Taxes are unavoidable and you are subjected and required to pay the amount that you owe to the government, you can't evade taxes as it is already imposed from the things that you are buying to your monthly salary, so before you get your money or your thing, taxes are deducted, it always depends on the countries that impose laws and restriction towards tax, if the government regulated bitcoin exchanges within your nation then you have to submit.

sgenuine

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Quote from: MrBigHang on January 05, 2018, 11:47:17 AM

I ran across this video a while ago on what can happen to you if you don't pay your taxes. At some point during your Bitcoin career, the cryptocoin will be converted to fiat and that's how they will catch you.

https://www.youtube.com/watch?v=hf2fNEUPjQw

I think that if the crypto currency is not banned in the country, then it is necessary to pay taxes for the profit that we were able to get with the help of bitcoin. Payment of taxes will help improve the economy of the country.

francojon

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Quote from: MrBigHang on January 05, 2018, 11:47:17 AM

I ran across this video a while ago on what can happen to you if you don't pay your taxes. At some point during your Bitcoin career, the cryptocoin will be converted to fiat and that's how they will catch you.

https://www.youtube.com/watch?v=hf2fNEUPjQw

Well , I don´t care much about the video. The fact is that you don´t have to pay your taxes until you realise a benefit, so there is in fact nothing to catch before that moment in which you get fiat. If that ever happens

BingoDog

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Quote from: rickadone on January 11, 2018, 05:46:14 AM

Quote from: Finestream on January 08, 2018, 07:27:32 AM

Quote from: Lucius on January 08, 2018, 06:32:19 AM

In some countries you can not pay tax on BTC even if you want,there are no rules and regulations regarding BTC.In some countries like Germany you do not need to pay tax if you sold BTC one year + after purchase,also Denmark is completely free from paying taxes regarding cryptocurrency.

There is always way to avoid paying tax when convert BTC to fiat,but if you want to sleep peacefully and your government is pretty strict on this issue then it is better to give them their share.

Yes that could be true.But in my country i do not see the government giving their full attention to cryptocurrencies so paying taxes is not an issue to us.But if one day there will be a law that states its compulsory to pay taxes on all bitcoin users,then of course i will be responsible enough to pay my obligation.If that tax will be for the good sake of everyone,then i see no reason for all bitcoin users to evade from it.

The day government will apply taxes on bitcoins, that day bitcoins would be accepted legally in the country. We will need to pay certain taxes for bitcoins than but that will also be much more safer to use bitcoins than. Bitcoins will be officially legal and also the price for bitcoins will than go much more above as compared to know. Actually I am waiting or that day to come through. I want to see bitcoins as legally accepted and also the price growth after that.

But first before is taxed bitcoin should be regulated and clearly defined.
If they want to tax it they have to define it as an currency (so you will pay taxes on savings account), as an asset (so it could be taxed the same way as real estate) or something else. I many countries bitcoin transactions are already taxed but that is much different than taxation of bitcoin itself and many usres are mixing these two facts.

boyshx

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Taxes are the main source income to the governments. In your country whether bitcoin is legal or not makes no difference on payment of taxes. Bitcoin is a decentralised peer to peer operating currency. So it is difficult for the government to determine the amount of tax. Tax structure comes into operation when you convert your bitcoin currency to fiat currency. It is recommended to pay taxes by the laws of the respective countires. Countries like USA , India are considering income from bicoin currency as income of Capital gain, and impose taxes accordingly.

rickadone

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Quote from: Finestream on January 08, 2018, 07:27:32 AM

Quote from: Lucius on January 08, 2018, 06:32:19 AM

In some countries you can not pay tax on BTC even if you want,there are no rules and regulations regarding BTC.In some countries like Germany you do not need to pay tax if you sold BTC one year + after purchase,also Denmark is completely free from paying taxes regarding cryptocurrency.

There is always way to avoid paying tax when convert BTC to fiat,but if you want to sleep peacefully and your government is pretty strict on this issue then it is better to give them their share.

Yes that could be true.But in my country i do not see the government giving their full attention to cryptocurrencies so paying taxes is not an issue to us.But if one day there will be a law that states its compulsory to pay taxes on all bitcoin users,then of course i will be responsible enough to pay my obligation.If that tax will be for the good sake of everyone,then i see no reason for all bitcoin users to evade from it.

The day government will apply taxes on bitcoins, that day bitcoins would be accepted legally in the country. We will need to pay certain taxes for bitcoins than but that will also be much more safer to use bitcoins than. Bitcoins will be officially legal and also the price for bitcoins will than go much more above as compared to know. Actually I am waiting or that day to come through. I want to see bitcoins as legally accepted and also the price growth after that.

Dilladupak

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as in my country at this time bitcoin no taxes, although in my country is very popular but no taxes..but likely some time bitcoin will be in wearing taxes. but with it for them no problem even taxable for them, it is better because the government has approved bitcoin.

MAJICOIN

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I think for every thing we can pay taxes like if we buy some domestic things then you will pay some of the taxes over the small things. For example soaps and other daily need things bitcoin if we cash after that we will must use this to buy things and for that we will pay taxes to the governments so we can't say that we are not paying taxes the consumers are paying more than the big capitalist.

kaysersoze

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Quote from: fachant on January 05, 2018, 12:27:37 PM

If a country requires payment from bitcoin profits, then there is no way out. You have to pay tax or it will end badly.

Yes.. i know a lot of people that refused to pay taxes or they just avoided them an they are now paying a huge amount of money because of that, and if they deny to pay that amount of money, they will go to jail. I do not understand why there is a lot of people trying to avoid paying taxes.

zoran.drobnjak

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To All those having residence in countries that are taxing Bitcoin - there are many more other places and countries where you can acquire residence in no time and where it is perfectly legal not to pay taxes on BTC. You can even go back to place where you currently live as a formal resident of non-taxable jurisdiction.

Plenty of options are on the table to be perfectly in compliance with law and not pay tax on crypto.

johnalyn

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I agree of paying taxes on it but for now governments didn't accept it and I think we should afraid rigth now of paying its taxes because it is not legal yet most of people like me also wants to pay a taxes for what earn too right.

Ziskinberg

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Honestly I am not yet paying tax for my income in bitcoin because it is not regulated yet in our country.
I am happy with this situation because I can maximize my income but if we go deeper, it's not actually that we are not paying because when we buy goods and and avail services we have to pay taxes and in our country it's already integrated on the price that we have to pay.
Maybe it's just hard to tax bitcoin since you can easily launder your funds but I believe the government will find ways to make it possible sooner.

Pleione527

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Paying taxes from bitcoin earnings for me is quite difficult to implement especially if the government does not support bitcoin market, We know for a fact that using bitcoin in any transactions will not show any history of information of the person who made it and since government cannot regulate it there's no way for them to assess the tax due of a person unless those earnings were sent to banks account which government can trace but for legality purpose any income should be tax properly.

voztata

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Quote from: Lucius on January 08, 2018, 06:32:19 AM

In some countries you can not pay tax on BTC even if you want,there are no rules and regulations regarding BTC.In some countries like Germany you do not need to pay tax if you sold BTC one year + after purchase,also Denmark is completely free from paying taxes regarding cryptocurrency.

There is always way to avoid paying tax when convert BTC to fiat,but if you want to sleep peacefully and your government is pretty strict on this issue then it is better to give them their share.

If someone is making use of Bitcoin, there is no need for them to be paying tax, cause I don’t think there is any government charging tax for it. And even if the government wants to be charging Bitcoin users tax, I don’t think it would be possible in any way.

mornabo

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Quote from: Janation on January 08, 2018, 12:09:39 PM

Quote from: MrBigHang on January 05, 2018, 11:47:17 AM

I ran across this video a while ago on what can happen to you if you don't pay your taxes. At some point during your Bitcoin career, the cryptocoin will be converted to fiat and that's how they will catch you.

https://www.youtube.com/watch?v=hf2fNEUPjQw

I think that will be depending on the country you are in. I've been converting or selling of my bitcoin but the fiat that I am getting is still the same. I am not also taxed by the government, if there will be some additional deduction, I think that will be the fee of the exchange since they will just be adding the tax of that certain exchange and the tendency of that is to increase the fee of the converting of btc to fiat.

agree I think it will depend on the government and the rules on your own country, in my own country there is no regulation to give tax to uncertain income, even if you withdraw huge money from exchange to your local currency, you will not be taxed by government , so far my state government has only given taxes to company workers who have a definite income from the company

DPrillio

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Quote from: Dread Pirate Roberts on January 09, 2018, 10:46:25 PM

Quote from: Lucius on January 08, 2018, 06:32:19 AM

In some countries you can not pay tax on BTC even if you want,there are no rules and regulations regarding BTC.In some countries like Germany you do not need to pay tax if you sold BTC one year + after purchase,also Denmark is completely free from paying taxes regarding cryptocurrency.

There is always way to avoid paying tax when convert BTC to fiat,but if you want to sleep peacefully and your government is pretty strict on this issue then it is better to give them their share.

Agree . in asian not much money bitcoin its legal . only in china i guess . and now miner fee also more than expect
so the fee its follow the price . if i can use real money for fee its will more help than like this.
my option back to altcoin because this fee .

Yes, even though bitcoin is no central control but still government can benefits of that because in the first place people will get more money from bitcoin then i think he will used its money to buy some goods and services in their society so i think he cannot escape the tax out of the goods that he buys.

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