Topic: Bitcoin and Tax? - page 4. (Read 1155 times)
#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.
BITCOIN is a type of cryptocurrency. It uses blockchain or the so-called word wide ledger.The world wide ledger is the general list of BITCOIN transactions. It is as if I said earlier that money is only a treaty. The world wide ledger can be compared to a general agreement.
It is an inherent power or power of a state, through a constitution, to raise revenue for government needs and expenses.
Taxation is when governments require citizens to pay a certain amount of money to help fund public institutions. Taxes are used to pay for things like public education, welfare programs, transportation infrastructure, defense funds and libraries.
It is an inherent power or power of a state, through a constitution, to raise revenue for government needs and expenses.
Taxation is when governments require citizens to pay a certain amount of money to help fund public institutions. Taxes are used to pay for things like public education, welfare programs, transportation infrastructure, defense funds and libraries.
You would think it would be really difficult to tax but i suppose the risk comes in when you convert money back to fiat and it goes into your traceable account?
Whats the deal with Bitcoin and paying tax? How does it work?
In my place you can't tax bitcoin. The government know of it but they are not having an idea of taxing it all. And I think if my country wants to tax bitcoin, I guess I will not know how because I will be starting to use another crypto currency, I mean that is the best way to avoid paying taxes the reason I like to use it and I don't like it to be taken.
Bitcoin is not governed or controlled by governments or banks. Hence they don’t have any control over cryptocurrencies.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
Does this not make it dangerous for us though that if things crash we all crash with it? What about converting Bitcoin to gold? does tax come in then?
Please when talking about your country and the tax laws mention where your from, it will help anyone answer questions for anyone who is also from the same place
Bitcoin is not governed or controlled by governments or banks. Hence they don’t have any control over cryptocurrencies.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
Does this not make it dangerous for us though that if things crash we all crash with it? What about converting Bitcoin to gold? does tax come in then?
I really have that question in my mind also.
If they will implement tax in it then how are they suppose to that?
For just transactions when you buy things thru bitcoin? How will they know it was done like that? Is the government connected with the merchant or they will be the merchant?
How about the bitcoin in wallets? How are they going to trace it? Kind of having problems with how they will monitor it.
If they will implement tax in it then how are they suppose to that?
For just transactions when you buy things thru bitcoin? How will they know it was done like that? Is the government connected with the merchant or they will be the merchant?
How about the bitcoin in wallets? How are they going to trace it? Kind of having problems with how they will monitor it.
Tax is the source of State income, as a good nergara citizen we are obliged to obey the government.
so far it is not a rule for bitcoin holders to pay taxes. Whatever happens I will stick with it.
so far it is not a rule for bitcoin holders to pay taxes. Whatever happens I will stick with it.
On our country we don't have to tax bitcoin and we don't have an tax sheet to fill up so basically it depends on our governments whether they will tax bitcoin or not,
and how will they keep bitcoin users in track since our country is way too late regarding of information about technology.
I don't know how other country taxes bitcoin but in our country taxing bitcoin are unlikely to happen.
and how will they keep bitcoin users in track since our country is way too late regarding of information about technology.
I don't know how other country taxes bitcoin but in our country taxing bitcoin are unlikely to happen.
This is likely to be one of the most important topics when dealing (successfully) with crypto in the next years in my opion. At thee moment, it seems that there are in general several unsolved questions in connection with it
It totally depends on the law in your country.
In my country, it is very simple if you keep your coins for more than a year, it is considered speculation and therefore tax-free. If you sell your coins before you had them for one year, you will have to pay taxes on the profit you made.
In my country, it is very simple if you keep your coins for more than a year, it is considered speculation and therefore tax-free. If you sell your coins before you had them for one year, you will have to pay taxes on the profit you made.
the amount of bitcoin taxes depends on each country as some states allow, in reality, it is a similar financial product.
it is difficult to put a tax on btc, on purchase bitcoin has two subtance, to seek profit or use btc for transactions, bitcoin can be used for the purchase items or pay services. the taxes imposed by income in btc just a throught reports financial statement to the goverment, so the government can provide and assess taxes to be paid and the tax income arrangement on btc lies with the goverment tax of each country.
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
it depends on the countries, I think more and more countries will tax bitcoin
It tends to be that you only pay tax once its converted to fiat, you are not liable for taxes whilst hodling. You may in fact be entitled to tax breaks if you lose money when cashing out BTC to fiat.
Bitcoin is not governed or controlled by governments or banks. Hence they don’t have any control over cryptocurrencies.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
That said,when you sell your Bitcoin and get fiat currency like US dollar, then you’re liable for taxes as per your country on capital gain.
Considering the growth of Bitcoin, you should only Buy and Hold. Take out in small amounts to avoid taxes.
Laws and regulations with regards to tax varies in each countries. In my country, Bitcoin currency is not yet rregulated by the government. But i learn from reading that iit is considered as an asset and collection are done once you gain from selling bitcoin. But if bitcoin demand continue to rise up and prices go up and the governmenr wod notice that it will be a big addition to their collections, then definitely our government will create a law to impose a tax from using bitcoin.
booo to Bitcoin tax regulations!
Laws and regulations with regards to tax varies in each countries. In my country, Bitcoin currency is not yet rregulated by the government. But i learn from reading that iit is considered as an asset and collection are done once you gain from selling bitcoin. But if bitcoin demand continue to rise up and prices go up and the governmenr wod notice that it will be a big addition to their collections, then definitely our government will create a law to impose a tax from using bitcoin.
Whats the deal with Bitcoin and paying tax? How does it work?
My assumption is that you have to pay the tax from your income associated with BTC ( if you have some) other wise I do not think that any country could have special rules regarding it , since no country as far as i know has defined it as financial commodity.
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