Topic: Bitcoin and not Paying Taxes - page 6. (Read 1213 times)
If bitcoin can be legalized then government might implement tax we have no choice but to pay tax,but since their is no third-party related to bitcoin no one can trace your transactions but only the user and the receiver,they cannot apply tax.
As a result of the way Bitcoin is being exchanged without charge installment because of it's distributed idea, not that we need to or are cheerful maintaining a strategic distance from impose, to a few of us that are really dutiful with our respectability. We are sitting tight for the time where a sort of control is been crashed into the arrangement some way or another and ideally. It's not all that agreeable to our income office here auditing Bitcoin profit that is yet to be accepted by our Government profit to be exhausted is only the issue.
At present, there is nothing clear about bitcoin, so - even if you had a so big desire to paying taxes(!) - it wold be probably impossible.
Btw, I'm pretty sure that in short time goverments will find a way to control bitcoin addresses and transactions.
But I also think that - for smart people - I won't be too difficult to find a way to not be caught...
Yes currently there is no tax on bitcoin, and the reason is that currently most of the countries have not yet turn bitcoin a legal currency and there is no rule to put tax on illegal item, therefore bitcoin is currency tax free, but i think that when countries will consider bitcoin as legal currency then there are more chances that the will also impose tax on bitcoin. Btw, I'm pretty sure that in short time goverments will find a way to control bitcoin addresses and transactions.
But I also think that - for smart people - I won't be too difficult to find a way to not be caught...
This is a bit of a generalisation, it will for sure be very dependent on the country you are a legal (tax) resident of.
At present, there is nothing clear about bitcoin, so - even if you had a so big desire to paying taxes(!) - it wold be probably impossible.
Btw, I'm pretty sure that in short time goverments will find a way to control bitcoin addresses and transactions.
But I also think that - for smart people - I won't be too difficult to find a way to not be caught...
Btw, I'm pretty sure that in short time goverments will find a way to control bitcoin addresses and transactions.
But I also think that - for smart people - I won't be too difficult to find a way to not be caught...
If you want to live in a normal country and have social benefits pay you taxes, i know you as an individual don't make any difference but lead as an example
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 all depends on the country you live as to whether they support or accept Bitcoin and crypto currency as means of exchange for goods and services because that is the basis in which one cannot completely deviate from paying tax to the government. But is not accepted as a means payment for goods and services here in my country and that has given me leverage not to pay tax from all my crypto currency business. https://www.youtube.com/watch?v=hf2fNEUPjQw
People who will get scared about catching up in the future are people who try to beat the rules. If a country is taxing on certain things for instance bitcoin, it is a call to duty on the part of the citizen. Such accumulated fund would be collected at one time or the other and it might be when not expected.
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
https://www.youtube.com/watch?v=hf2fNEUPjQw
That's big lol man. Off course if we covert any crypto to fiat then it is ttackble and almost in every other country this conversion osbytacble by banks. They will catch you and they will catch you bad if you have not paid the taxes for the same. It will be our fault if you don't pay the taxes and get caught for that. In reality we must pay taxes and that can bring us good and nothing else. It will help the countries economical development and we can just be relaxed when we see good statement made by our banks. At least that's how it work in my country.
Since their is no third-party related to bitcoin no one can trace your transactions but the user and the receiver only, therefore they cannot apply tax. However if we change our bitcoin to fiat money to spend, its the time tax comes in. Maybe in future if bitcoin can be legalized then government might implement tax for every use of it.
If you are honest enough, you can even declare it in your annual personal income tax. And as quoted above, only cryptos that converted to fiat must be subjected to tax.
Actually, tax avoidance or evasion is against the law and regulation of any country. We are all aware. But is this the fault of anybody for not paying tax in Bitcoin? When Bitcoin itself is shortfall of Tax payment based on its characteristics in Blockchain. I do not for any reason takes this for a crime at all, when it is not that the Tax authority served me any Tax payment Demand Notice that I shunned. However, when the time ripe for that, we must follow and shall obey suit.
Since their is no third-party related to bitcoin no one can trace your transactions but the user and the receiver only, therefore they cannot apply tax. However if we change our bitcoin to fiat money to spend, its the time tax comes in. Maybe in future if bitcoin can be legalized then government might implement tax for every use of it.
Most of the country did not collect tax from bitcoin.Because they have not yet a guidelines that mandated to bitcoin user to contribute their taxes. They have no rule yet bieng implemented about collecting tax from bitcoin. But their are also other country are now start collecting tax from bitcoin. Because they accept bitcoin as legal tender in their country.
Since their is no third-party related to bitcoin no one can trace your transactions but the user and the receiver only, therefore they cannot apply tax. However if we change our bitcoin to fiat money to spend, its the time tax comes in. Maybe in future if bitcoin can be legalized then government might implement tax for every use of it.
If you are honest enough, you can even declare it in your annual personal income tax. And as quoted above, only cryptos that converted to fiat must be subjected to tax.
Because of the way Bitcoin is being traded devoid of tax payment due to it's peer to peer concept, not that we want to or are happy avoiding tax, to some of us that are actually obedient with our integrity. We are waiting for the time where a kind of regulation is been driven into the deal somehow and hopefully. It's not so easy going to our revenue office here reviewing Bitcoin earnings that is yet to be believed by our Government earnings to be taxed is just the issue.
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
Yes, I think it is possible that the governmental organizations would have tied the cryptocurrency with legal frameworks. What the US stock market is a lesson for the investors themselves. I think they will find ways to tax the crypto market in the future for growth, and economic justice. although we all do not want that.https://www.youtube.com/watch?v=hf2fNEUPjQw
Maybe incoming time when the government was going to put some tax of the bitcoin or in a bitcoin user, But how they will know if we have some bitcoin and how will be to do it. I think it a website only cause we the bitcoin it is a online cryptocurrency so it will going through to internet.
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
https://www.youtube.com/watch?v=hf2fNEUPjQw
First your video is unavailable. Try to re-upload or edit new link. Come to the post, Bitcoin is volatile nobody can control it. If nobody have access to control its then there's no way to apply tax. Even government can't control nor they can apply tax on your transaction. Bitcoin works between 2 members. Once is called seller and other call buyer, no one can trace your transaction,then no one can take taxes.
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
https://www.youtube.com/watch?v=hf2fNEUPjQw
First your video is unavailable. Try to re-upload or edit new link. Come to the post, Bitcoin is volatile nobody can control it. If nobody have access to control its then there's no way to apply tax. Even government can't control nor they can apply tax on your transaction. Bitcoin works between 2 members. Once is called seller and other call buyer, no one can trace your transaction,then no one can take taxes.
Many countries have defined BTC as assets and recognized BTC's legal status!
But it also increases revenue and business taxes! If you deal in BTC, you have to pay taxes!
But it also increases revenue and business taxes! If you deal in BTC, you have to pay taxes!
It's true that there is not really a tax on bitcoin because of the fact that they can tax the bitcoin if they do not know who made it so many bitcoin users are still thinking about creating or creating digital money so far no tax breaks on bitcoin because it's not easy to get the tax immediately
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