If bitcoin obtained by mining, then it would be taxed, as well as tax-free traders who play on the difference in the bitcoin rate.The regulations governing the taxation of bitcoin and other crypto-currencies significantly differ in different countries. In some countries, bitcoin is considered to be a currency, in the others consider to be an asset. Some countries (Japan)are neuteral about bitcoin , defining it as "equated to assets carrier value." In Russia, the system of regulation and taxation of crypto-currencies has not been developed yet , but Russian crypto-economy is being developed, and businessmen who are promoting it.
Topic: Bitcoin and tax (Read 3184 times)
For the countries that has legalize bitcoin, I think it maybe already calculated the tax on bitcoin's using or bitcoin incomes, and for the countries that hasn't legalize bitcoin of course it's still free from tax.
For those of us who are in the country that hasn't yet legalize bitcoin, I think it would be nice if we still trying to paid the tax to the goverment from the money that we earned from bitcoin incomes.
For those of us who are in the country that hasn't yet legalize bitcoin, I think it would be nice if we still trying to paid the tax to the goverment from the money that we earned from bitcoin incomes.
as most of the countries have not yet legalize bitcoin therefore they have no tax structure for bitcoin. I think yet not a single country has impose tax on bitcoin. but some countries must be thinking about this.
I think when bitcoin legalize by government, the government will think about the tax. The government need control bitcoin.
So if bitcoin need pay tax, it will help income to the government and their country.
It is not just easy to impose tax on bitcoin it self. Government can just tax it if it were to be converted to fiat currency. An entity controls bitcoin but it is not the government. They could take advantages of bitcoin but i guess its still too far for them to get tax it. It gives opportunity for people to spend cash fully without tax.
as most of the countries have not yet legalize bitcoin therefore they have no tax structure for bitcoin. I think yet not a single country has impose tax on bitcoin. but some countries must be thinking about this.
I think when bitcoin legalize by government, the government will think about the tax. The government need control bitcoin.
So if bitcoin need pay tax, it will help income to the government and their country.
as most of the countries have not yet legalize bitcoin therefore they have no tax structure for bitcoin. I think yet not a single country has impose a tax on bitcoin. but some countries must be thinking about this.
There is no official statement from government about bitcoin doesn't mean there is no any regulation which forces people to pay taxes.
There are few regulations about capital gains or how much income do you get every month, that will be taxed especially if you can earn in big amount. The most famous regulation comes from the US government consider bitcoin as property instead of as currency, IRS has stated that US citizens who involved in crypto-world have to report their capital gain by trading or just holding cryptocurrencies for long-term.
as most of the countries have not yet legalize bitcoin therefore they have no tax structure for bitcoin. I think yet not a single country has impose tax on bitcoin. but some countries must be thinking about this.
Some countries have work on Bitcoin taxation, but that does not seem easy. Because you have to appear first to get tax from something. But some countries will certainly implement taxation soon. 
Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Bitcoin.
Bitcoin may not fall under the law because it is not recognized at the official level. If this happens then the state will have to allow them to trade in bitcoins. Banks will be obliged to exchange bitcoin for Fiat. This is not happening. But as soon as we transfer bitcoins into Fiat, we are fully fall under the jurisdiction of the state. 
as most of the countries have not yet legalize bitcoin therefore they have no tax structure for bitcoin. I think yet not a single country has impose tax on bitcoin. but some countries must be thinking about this.
if bitcoin is accepted by its government in one country then i think that government will thinking about the tax, because we know already that bitcoin transaction is really big in a single of day, and people which have bitcoin and make transaction from just one country is really a serious matter to government and the government can get more fund for that country.
Yes that's the one factor why there has been no central bank validating bitcoin as a legitimate means of payment, so only as a commodity
Bitcoin is till now did not accepted by any of the government so how can they create laws for that currency, if they started to make laws for this currency and started to take taxes on it then it will mean that this particular government has approved that currency.
i thank first they have approve it in their national assembly. and after they they will prepare law and rules, regulation for this currency. and after that they will impose tax on bitcoin. 
Bitcoin is till now did not accepted by any of the government so how can they create laws for that currency, if they started to make laws for this currency and started to take taxes on it then it will mean that this particular government has approved that currency.
To the best of my knowledge, while you do have to claim bitcoin if your total asset worth is being evaluated, you are only taxed when you convert bitcoin for value. Be it fiat, a house, etc. When you convert the value to another form, you have experienced a capital gain; in the States, along with everything else, the government gets a piece of the action. So, you can mine til the cows come home, and you should claim said coins. But you won't be taxed until you sell or trade the coins.
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.
and if the government has not yet legalize bitcoin then then how is it possible to do trade in bitcoin. the government will not allow any one to use bitcoin unless they have not yet legalize it. 
Anybody that makes money online has to declare how much he makes and pay tax, one way or the other they still have to pay taxes.
but i think the tax they are paying is is not income tax. i think they only pay the bank charges and the company charges who transfers the payment. because if bitcoin is not legalize in a country then how can the govt collect income tax on bitcoin. 
Anybody that makes money online has to declare how much he makes and pay tax, one way or the other they still have to pay taxes.
but i think the tax they are paying is is not income tax. i think they only pay the bank charges and the company charges who transfers the payment. because if bitcoin is not legalize in a country then how can the govt collect income tax on bitcoin.
Anybody that makes money online has to declare how much he makes and pay tax, one way or the other they still have to pay taxes.
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.
Depends.
Gambling sites can as well as porn sites too. A few days ago I noticed on some other sites too.
But not all sites declaring it. They just do it and customers pay without attention to that fact.
i think bitcoin is free of tax in all over the world in the present time. still no such country impossed tax on bicoin. actually in most of the countries bitcoin is no registered by the governments. so they have not impossed tax on bitcoin.
You're very wrong.
i think bitcoin is free of tax in all over the world in the present time. still no such country impossed tax on bicoin. actually in most of the countries bitcoin is no registered by the governments. so they have not impossed tax on bitcoin.
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.
Jump to: