Be smart. 
Topic: Bitcoin and tax - page 2. (Read 3192 times)
If you are willing to pay taxes, you can report your income and pay your share. Nobody can prevent it. Otherwise, be wise and do it like everyone else. If you don't report anything, there won't be any taxes to pay. Be smart.
Be smart. 
Bitcoin is not regulated by any government so there is no tax in bitcoins yet now in any country i think.And even if they take tax.. no government can know how much btc you are holding in your wallet or what is your wallet.
yeah that what i was thinking all the time.This may yield some problems to the bitcoin/bitcoin community,because goverments never likes tax evaders,
so i hope the thing about it will be fixed correctly.
I would not like to pay taxes for btc also
Bitcoin is not regulated by any government so there is no tax in bitcoins yet now in any country i think.And even if they take tax.. no government can know how much btc you are holding in your wallet or what is your wallet.
A business will still have to pay their local state and sales taxes as well as federal. If bitcoin is to gain legitimacy as a currency it will need to be taxed.
I noticed more and more bullion and coin sites accepting Bitcoin as payment. Got me wondering from a business point of view what are the tax implications for these businesses. I'm guessing they don't have to declare anything as they are sending bullion for Bitcoin and not money.
Well, i was paying out some money out of few gambling site's and same from bitcoin trading.And i think i dont pay tax for them,so if i would get a big amount of money every month,i could get in trouble right?
as ye no country has legalize bitcoin therefore we cannot think about the tax. i think no country has yet apply tax on bitcoin. and the reason is that they have not yet legalize it. when they will regulate it then they will defiantly impose tax of bitcoin.
I think this is due to increasingly strong feeling somewhat consciously, partly unconsciously, the dollar is at the end of his time as a global reserve currency. The other point is that governments are still not optimized tax policy in this area, so that they can derive maximum. Trade with BTC and now is subject to taxation, but for European countries is one for USA else.
Wrong. Off course they do have to declare revenue/profit/pay taxes on bitcoin sales. And if those businesses use BitPay/Coinbase processors, likely all of the income will be converted to fiat.
The 2 main reasons for Bitcoin popularity among bullion dealers probably are:
1- Lesser risk of fraud. BTC txs are irreversible. Some sites would even incentivise customers to bay with BTC by offering discounts.
2- Both Bitcoin and precious metals are popular among the same group of people, who doesn't have much trust in fiat currencies.
I noticed more and more bullion and coin sites accepting Bitcoin as payment. Got me wondering from a business point of view what are the tax implications for these businesses. I'm guessing they don't have to declare anything as they are sending bullion for Bitcoin and not money.
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