Topic: Bitcoin and Tax? - page 3. (Read 1155 times)
Btc never have a tax, coz BTC not regulated by country or legal goverment thats why BTC is free from tax.
Bitcoin are tax in countries where it been legally accepted. In such countries Bitcoins are taxed, because it is used for buying and selling as well, it is Recognized by the Government and every member of such countries. So on every bitcoin earned a certain amount of it is taxed. But in other countries where both the Government and the citizens did not recognize any thing called cryptocurrency, even Bitcoin as well, every holder of bitcoin manage their accounts tax free without interference by government agencies responsible for Tax enforcement. It really does not really matter the amount of bitcoin you have. The Banks even goes to the extent of advising people against investing in Bitcoin.In such countries no payment of Tax on Bitcoin.
i really dont think bitcoin can be taxed by governments, how can they tax us without any information or address about us because bitcoin is anonymous to all of us, bitcoin is untraceable so many governments can not control bitcoin or charge taxes on us.
Yes, it's taxable in many countries. As per research I found in India it will be counted as income and will be taxed accordingly.
I guess almost each country has a different policy (and often not really clear) on how to tax bitcoin and criptocurrencies.
Also the legislation is likely to change quickly (in good and bad ways) since is a relatively new asset
Also the legislation is likely to change quickly (in good and bad ways) since is a relatively new asset
Whats the deal with Bitcoin and paying tax? How does it work?
It does not work. Bitcoin is not taxed, because it is decentralized technology. To tax bitcoin taxes, the government must release its exchange platform, on which no one will carry out transactions.
Many countries have no proper regulations on Crypto taxation so far. But I guess one can rest assured that at the very latest, even in countries with zero regulations about it, if one converts his money to fiat and suddenly gets a big fat transaction to his bank account, than somebody will come and ask questions and want their share of the cake. But in countries that already regulated it, you have to pay taxes for bitcoin gains according to the local law.
In most countries people pay VAT on any purchase, so they are not avoiding paying taxes if they pay with Bitcoins. You can
also only receive value from your Bitcoin investment, when you spend it or convert it to Fiat. If it is used as a commodity, then
Capital Gains taxes come into play. {You only pay for the gain, not the amount you spend to acquire the commodity} In my
country a specific exemption comes into play, before you start paying taxes.
also only receive value from your Bitcoin investment, when you spend it or convert it to Fiat. If it is used as a commodity, then
Capital Gains taxes come into play. {You only pay for the gain, not the amount you spend to acquire the commodity} In my
country a specific exemption comes into play, before you start paying taxes.
Bitcoin generates income for many. I am pretty sure that government has a vision already of how bitcoin will be a big part of the future and it is the duty of government to generate also taxes from any income generating activity. At present, bitcoin is considered as an asset and tax are collected only from buying and selling. Actually, our government collects double taxes which I really opposed, they make their people pay a lot and suffer.
in some bitcoin countries it's already applying taxes and that's great because bitcoin belongs to income. but there are still many countries that have not applied taxes because the country has not officially acknowledged bitcoin in the country.
Interesting, Bitcoin seems like an asset so id imagine only once you cash it out and its no longer 'anonymous' money it is traceable and must be declared.
in some bitcoin countries it's already applying taxes and that's great because bitcoin belongs to income. but there are still many countries that have not applied taxes because the country has not officially acknowledged bitcoin in the country.
Whats the deal with Bitcoin and paying tax? How does it work?
First of all, I want to say it depends first on that website, later in the tax law of that country, after that, the government rules policies are all about these. 
Whats the deal with Bitcoin and paying tax? How does it work?
I think if we use bitcoin then we don't have to pay the tax except we need to pay the transaction fee. but if we are going to exchange our bitcoin into fiat, then I think there will be a fee that we should pay. and after the money is arriving into our account, then we should pay the tax for monthly. but I don't think that tax on bitcoin is applied right now because in the country which accepting bitcoin, the people do not pay the tax at all.
Whats the deal with Bitcoin and paying tax? How does it work?
You can actually pay up tax even you are engage into bitcoin but this would turns out to be voluntarily since government cant really mandate or impose such laws that you would really be obliged to pay up tax since we do know bitcoin cant really be tax which means we can really possible evade tax if we want to but as a responsible citizen it would depend if you would still decide to pay up tax inspite you are engaging into crypto.This is what im doing now and i dont really like to escape on taxation.
I think...it is hard to give tax on btc...the government should think so many regulations about it....whether in present there are no laws about tax on btc...maybe it will be bitcoin tax in the future... 
#I think most countries just didn't decided yet how to tax Bitcoin holders properly and how actually identify them. But taxes will be in every country in a few years.So the government can provide and assess taxes to be paid and the tax income arrangement on bitcoin lies with the government tax of each country.
Most actually simply impose taxes on businesses. They all end up there one way or another, so it is an efficient way to tax. Businesses themselves impose the taxes on their customers so there is no need for governments to track and trace.
If rock taxation is a good way to control it, how do you know who owns it and tax it?
The government has no control over the value of bitcoins. It instantly gains ang loose thats why they cannot put a fixed tax for it
Whats the deal with Bitcoin and paying tax? How does it work?
I live in the Philippines, and here we can cashout bitcoins using the local counterpart of western union. By that method, the government would not know how much money had came in to my pocket unless I cash out such huge amount and it caught the Fedies attention. Other countries are strict, and i assume you need to wire your bitcoins to your bank account. That method couldn't escape from the law. Jump to: