Bitcoin does not have to pay any costs for transferring from one person to another. So there is no tax to pay for Bitcoin. However, if you want to convert Bitcoin to local currency, you must pay a tax.
it's true that if only transactions bitcoin to other people it will not be in tax but if bitcoin want to exchange to the currency rupiah / dollar then it could be taxed by the government of the country 
Topic: Bitcoin and not Paying Taxes - page 9. (Read 1226 times)
i think most of bitcoiners has not paying taxes during use bitcoin because bitcoin still not regulated by the government even in my view very difficult to catch people to paying taxes if they still use bitcoin and indeed this is the biggest fear government to cryptocurrencies that some people had buy a lot of bitcoin as their asset and hold it for tax evasion purppose
Cripto money moves directly without any impediment to the state tax manager. But still this will be required transaction costs of buying and selling digital money. Production of digital coin money on taxes if any we can get a lot of cripto money taxes, I hope tax free. Assessing changes in progress here can be delivered without taxes we will feel a better and comfortable life. The world has a very high poverty rate, unfortunately if we let people around the world still have a low economy. The government should build a country that has the freedom to tax-free, not necessarily we live have the funds to pay taxes while we are only unemployed.
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
Tax is something which people usually avoids because they dont want to share their profits with government which is a wrong thing and ends up in a worst way for the tax avoiders so we need to change our mentality and pay taxes and enjoy the after benefits.Some countries are taking serious steps only due to this reasons which in turning all down.So pay taxes and enjoy your life.https://www.youtube.com/watch?v=hf2fNEUPjQw
Taxes are being paid by the exchanges and they are paying it thru taking off some percentage from the trading fees within their exchange, though very minimal and almost cannot be felt, due to the number of trades happening a day, the tax coming from it is profitable for the government. It's just how it goes for money, consumers spend on items/services and the government need these taxes to improve one's nation - hopefully.
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
Tax is something which people usually avoids because they dont want to share their profits with government which is a wrong thing and ends up in a worst way for the tax avoiders so we need to change our mentality and pay taxes and enjoy the after benefits.Some countries are taking serious steps only due to this reasons which in turning all down.So pay taxes and enjoy your life.https://www.youtube.com/watch?v=hf2fNEUPjQw
But it is necessary to pay taxes if the is rules to pay in their respective governments but as long as keep our crypto as it is then no one can ask for taxes.I think in future there is no need to convert cryptos to fiat so the revenue of governments will decrease that's why many governments want to ban crypto currencies.
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
Tax is something which people usually avoids because they dont want to share their profits with government which is a wrong thing and ends up in a worst way for the tax avoiders so we need to change our mentality and pay taxes and enjoy the after benefits.Some countries are taking serious steps only due to this reasons which in turning all down.So pay taxes and enjoy your life. https://www.youtube.com/watch?v=hf2fNEUPjQw
Not paying tax always end badly, it is just matter of time before you get caught. Depend on country's laws you can go free with not paying tax for some time, if you know how. But that goes only until you start earning serious money, that you can not hide. Even if you earn it with bitcoin it is steal earning and you would need to pay tax, unless it is different in your country. Either way, you still would need to transfer that coins into fiat currency, because not every place accept bitcoin as way of payment, and that is one more thing that would be end of your not paying taxes.
Bitcoin does not have to pay any costs for transferring from one person to another. So there is no tax to pay for Bitcoin. However, if you want to convert Bitcoin to local currency, you must pay a tax.
That is correct. Since bitcoin transactions are anonymous, no once can really tract the whole transaction process, therefore they cannot apply a tax on cryptoexchanges. But if one decided to cash out into fiat money, that is when people are required to pay the tax as long as it is under a government jurisdiction. They have to have a part of it as it is stated in the law and not doing so means you are disobeying the authorities and the law which will only result to something bad. However, it my country, people can get away with not paying tax for a long period of time, plus, there's no tax in cashing bitcoin at all. And I certainly do hope it will not be implemented in the future or else, I'll be packing my bags.
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.
On of the most important reasons which is helping bitcoin and other crypto currencies to gain the interest of the people is the relaxation of not paying anything to anyone in the form of tax. Bitcoin is so far not declared as a legal currency and till the time it will remain decentralized, there is nothing to be worried about like paying of anything to the government. This is helping people to make more money as well.
yes
Bitcoin does not have to pay any costs for transferring from one person to another. So there is no tax to pay for Bitcoin. However, if you want to convert Bitcoin to local currency, you must pay a tax.
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 exchanging bitcoin directly through dedicated exchange platforms or through pyment process like wzstern union or moneygram or any think that is associeyed with goverment is surely going to get you in trouble if you don't pay taxes, and this is one of the many resons why bitcoin has not been leagelized in many countries due to the fact that goverments is unable to monitor transactions so people could get paid thaousands of dollars and not pay taxes, i am not encouraging this but the best way to exchange bitcoin to fiat is through peer to peer exchanges like localbitcoin where you can find people willing to buy bitcoin with cash anf hand to hand. https://www.youtube.com/watch?v=hf2fNEUPjQw
What taxes, what are you talking about, taxes paid in the electricity bills. The tax on operations with bitcoin will only go to increase the number of bureaucrats who come up with new taxes.
I don't know why people should keep hiding under bitcoin's anonymous to keep invading their countries tax system. Bitcoin was actually made to make things easier for people and not to using governments read, electricity and water without paying tax. If you watch this video you will findout that the future is actually going to be a pay back time.
Exactly. When you focus on using cryptocurrencies to buy the things that you need you no longer can be taxed. Eliminate fiat money from your daily diet and you will be much healthier and happier.
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.
Even if you make it legal it will be almost impossible to tax capital gains on BTC, unless people decide to be open with everything they do, sign every transfer with their name and so on. The only 2 things that governments can do is:
1. Tax exchanges and make them spy on your every move
2. Tax businesses that sell stuff for Bitcoin and make them pay additional taxes to make up for all those people who will decide to hide their coins.
You can try to tax the economy, but you can't tax the individual users because you'll never be able to prove who owns which address and addresses can be generated instantly.
John's coins can in 15 min be on another address that can belong to John, or Chris, or Mary. It's going to be funny watching the suits try.
"Not paying Taxes " is one of the main reasons that government official try to stop this revolution bitcoin and other alternative coins but it is not gonna happen soon .
Its sad but you have of course to pay your taxes, we dont want to end in jail for tax fraud right? 
Look at charlie shrem what happened with him, he was two years in jail because of tax fraud with bitcoin: https://www.coindesk.com/bitcoins-first-felon-charlie-shrem-begins-2-year-sentence/
Nobody likes to pay them but you have to unfortunately, thats the sad reality
Look at charlie shrem what happened with him, he was two years in jail because of tax fraud with bitcoin: https://www.coindesk.com/bitcoins-first-felon-charlie-shrem-begins-2-year-sentence/
Nobody likes to pay them but you have to unfortunately, thats the sad reality
You haven't read the article and obviously don't know the story behind it. He was a scapegoat, charged for his connection to Silk Road. This connection was almost non existent as he was a trader whose coins ultimately ended up on Silk Road. It was like blaming a bank teller for handing money to a criminal. You never know where the money you're handing out will end up and people like Charlie have no control over it. It wasn't about taxes but unlicensed trading, which is a completely ridiculous law because Bitcoin isn't considered money and selling it is not money transmitting. Also, he didn't have to do 2 years, was released after 16 months.
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.
People have too much faith in Bitcoin's "anonymity" and for that reason believe they can't be found or traced. They ignore how the majority of the exchanges nowadays require people to verify themselves, and maybe even directly report to the IRS. The coins you withdraw from an exchange are tainted with your personal information, which from that moment can be followed basically endlessly. The blockchain is transparent and offers governments a pretty easy way of tracing all your actions, which is why people should always mix their coins before spending them or sending them to their cold wallets. It's common sense stuff....
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 don't know why people should keep hiding under bitcoin's anonymous to keep invading their countries tax system. Bitcoin was actually made to make things easier for people and not to using governments read, electricity and water without paying tax. If you watch this video you will findout that the future is actually going to be a pay back time. https://www.youtube.com/watch?v=hf2fNEUPjQw
Its sad but you have of course to pay your taxes, we dont want to end in jail for tax fraud right?
Look at charlie shrem what happened with him, he was two years in jail because of tax fraud with bitcoin: https://www.coindesk.com/bitcoins-first-felon-charlie-shrem-begins-2-year-sentence/
Nobody likes to pay them but you have to unfortunately, thats the sad reality
Look at charlie shrem what happened with him, he was two years in jail because of tax fraud with bitcoin: https://www.coindesk.com/bitcoins-first-felon-charlie-shrem-begins-2-year-sentence/
Nobody likes to pay them but you have to unfortunately, thats the sad reality
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