For now notthing like bitcoin tax in my country.
But since my country discover that other countries Bitcoin users are paying tax to their government, they are now trying to declear the tax payment in my country.
Topic: Bitcoin and tax in your countries - page 3. (Read 1329 times)
In my country, Bitcoin and crypto trade or use is illegal which is Bangladesh. So, there is no fees and taxes on Bitcoin transaction as i can send and receive money where Govt has no control but huge transaction may cause problem. I hope my country will think to legalize crypto soon if most of the countries will accept crypto as legal currency.
I'm glad that my country is already accepting the use of bitcoin.
My country developed the use of the coins.ph which is a wallet that supports the use of the bitcoin., ethereum, ripple, and bitcoin cash.
Also, you can pay the bills with the use of this wallet
In terms of transaction fees or taxes, it is less than three dollars. Also, they have three options those are my estimation sometimes it depends on the market movement of the coin too.
1. 0.5$~
2.1.5$~
3.2.5$~
My country developed the use of the coins.ph which is a wallet that supports the use of the bitcoin., ethereum, ripple, and bitcoin cash.
Also, you can pay the bills with the use of this wallet
In terms of transaction fees or taxes, it is less than three dollars. Also, they have three options those are my estimation sometimes it depends on the market movement of the coin too.
1. 0.5$~
2.1.5$~
3.2.5$~
for every cryptocurrency transaction in my country that is still not taxed, my country is still in (gray) setting rules for cryptocurrency holders.. In 2017 there was an issue that Bitcoin would be banned in my country but until now this strict rule has never been enforced at all on the grounds that they still want to learn about the benefits of cryptocurrency in the future..
What country are you from? Probably from Austria, since we have a similar situation with bitcoin. The majority of the country's population successfully uses all the privileges of bitcoin, but this is not legally stipulated yet. Perhaps in the near future, the government will somehow settle bitcoin officially, but there are no prerequisites for this yet.
Because there is no law regarding bitcoin taxiation in our country, no need to comply for that now. I'm not into crypto taxiation, but it's fine by me if it will be implemented in the future.
I don't think so.
As I understand, I only need to report my crypto earnings to the tax office when I exchange my crypto funds to fiat, not before.
Of course, other countries can have different rules.
Because there is no law regarding bitcoin taxiation in our country, no need to comply for that now. I'm not into crypto taxiation, but it's fine by me if it will be implemented in the future.
I don't think so.
As I understand, I only need to report my crypto earnings to the tax office when I exchange my crypto funds to fiat, not before.
Of course, other countries can have different rules.
Because there is no law regarding bitcoin taxiation in our country, no need to comply for that now. I'm not into crypto taxiation, but it's fine by me if it will be implemented in the future.
In my country, Croatia, we have to pay taxes on crypto earnings in the moment when we exchange our crypto funds to fiat.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
And what explains the point that if you store more than two years of cryptocurrency in your wallet, you are exempt from taxation? Are there any limits on money withdrawal? So you can put a few million dollars in your wallet and wait a few years, and then withdraw them without interest and everything will be fine. The scheme is too suspiciously simple.
Of course, I’m not a tax expert but from what I understand, the tax office views bitcoin as a type of investment, similar to investing in stocks.
In fact, the tax office views it as a risky investment and applies the same rule as investing in stocks and that is a tax exemption if certain legal conditions are met.
The money you invest in bitcoin or crypto must first come from some other source, another income that has already been taxed, right?
for every cryptocurrency transaction in my country that is still not taxed, my country is still in (gray) setting rules for cryptocurrency holders.. In 2017 there was an issue that Bitcoin would be banned in my country but until now this strict rule has never been enforced at all on the grounds that they still want to learn about the benefits of cryptocurrency in the future..
What country are you from? Probably from Austria, since we have a similar situation with bitcoin. The majority of the country's population successfully uses all the privileges of bitcoin, but this is not legally stipulated yet. Perhaps in the near future, the government will somehow settle bitcoin officially, but there are no prerequisites for this yet.
for every cryptocurrency transaction in my country that is still not taxed, my country is still in (gray) setting rules for cryptocurrency holders.. In 2017 there was an issue that Bitcoin would be banned in my country but until now this strict rule has never been enforced at all on the grounds that they still want to learn about the benefits of cryptocurrency in the future..
In my country, Croatia, we have to pay taxes on crypto earnings in the moment when we exchange our crypto funds to fiat.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
And what explains the point that if you store more than two years of cryptocurrency in your wallet, you are exempt from taxation? Are there any limits on money withdrawal? So you can put a few million dollars in your wallet and wait a few years, and then withdraw them without interest and everything will be fine. The scheme is too suspiciously simple.
In my country, Croatia, we have to pay taxes on crypto earnings in the moment when we exchange our crypto funds to fiat.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
Tax is only 12 % but if we have kept crypto funds in our wallet for at least 2 years, and we can prove it, we are exempt from paying taxes.
It's very fair rule.
Because there is no law regarding bitcoin taxiation in our country, no need to comply for that now. I'm not into crypto taxiation, but it's fine by me if it will be implemented in the future.
my country does not impose any taxes on bitcoin.
our country only imposes a ban on direct transactions using bitcoin "for example: buying coffee with bitcoin" is prohibited.
but if you only trade bitcoin it is not prohibited and not taxed.
this is a story about taxes in my country
our country only imposes a ban on direct transactions using bitcoin "for example: buying coffee with bitcoin" is prohibited.
but if you only trade bitcoin it is not prohibited and not taxed.
this is a story about taxes in my country
Here in the Philippines, there's no such law about imposing cryptocurrency taxation unless you declare it as income. The tax you are going to pay is the taxable income. The government is not strict on implementing taxation unless they found out that you earn from it.
Yeah, I think that as of now the government here in the Philippines do not recognize Bitcoin as a taxable goods but I think that they should start studying the bitcoin in order to cope up with other countries that statrting to recognize bitcoin. I think that in the near future bitcoin can help our country in order to minimize our debt and grow our economy.
Here in the Philippines, there's no such law about imposing cryptocurrency taxation unless you declare it as income. The tax you are going to pay is the taxable income. The government is not strict on implementing taxation unless they found out that you earn from it.
Yeah, I think that as of now the government here in the Philippines do not recognize Bitcoin as a taxable goods but I think that they should start studying the bitcoin in order to cope up with other countries that statrting to recognize bitcoin. I think that in the near future bitcoin can help our country in order to minimize our debt and grow our economy.
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Actually, it is not possible to cut fees if I send BTC from my wallet to another person's wallet. But I agree with you. if any government required to tax Bitcoin, I would welcome it. because if we give them tax, they will not think about banning Bitcoin in future. They will take better steps for our improvement, so that we will be beneficial more. so i think if government want to tax on Bitcoin, that will be good for us. At present the government of my country has no worries about Bitcoin. I hope in future they will be work about it.
In my country, the legality of bitcoin is hanging in a balance, the government does not care as long as they got our tax. The apps in my country does the tax deduction for the crypto that I have earned, most of the time they deduct it when we convert it into physical cash.
Well in my country there is no taxation on bitcoin, and bitcoin hasn't been legalized and also there is no restriction of crypto in my country, so I think since it hasn't been legalized there wouldn't be intention of the government applying tax on bitcoin.
I thought at first that they didn't legalize Bitcoin in our country but they already did.
The best thing here is that they are not also taxing Bitcoin and other cryptocurrencies as well. But I guess if they required to tax Bitcoin I wouldn't be against that. In the other thread, our country SEC warned our people about scams so if this continues, they might either ban it so I'll just accept them taxing than banning it.
Well in my country there is no taxation on bitcoin, and bitcoin hasn't been legalized and also there is no restriction of crypto in my country, so I think since it hasn't been legalized there wouldn't be intention of the government applying tax on bitcoin.
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