Worldwide Cryptocurrency Regulation - Complete Guide 2020.
https://3commas.io/blog/cryptocurrency-taxes-guide
This is a complete guide to taxes on Bitcoin and cryptocurrencies around the world that is worth knowing if you want to invest Bitcoin and cryptocurrencies in those countries.
The study is complete, ranging from taxes for individuals and institutions of the countries that apply it to countries free of taxes on Bitcoin.
Topic: bitcoin and taxes buying goods and items with btc tax free - page 3. (Read 428 times)
As far as my country is concerned, we have an archaic tax system here which does not have effective mechanisms to impose taxes on Bitcoin. Not just Bitcoin actually, but it is a different story to discuss about it.
My point is that the tax bureau here does not and cannot monitor income from Bitcoin. So everyone involved in Bitcoin could actually get away from paying taxes. It would, however, be a different case when you shop or spend your Bitcoin in stores and other business establishments, whether online or not, which are registered. The products and services that you are paying for with your Bitcoin have already included in the prices tax obligations.
My point is that the tax bureau here does not and cannot monitor income from Bitcoin. So everyone involved in Bitcoin could actually get away from paying taxes. It would, however, be a different case when you shop or spend your Bitcoin in stores and other business establishments, whether online or not, which are registered. The products and services that you are paying for with your Bitcoin have already included in the prices tax obligations.
In our country, there's already a tax on buying goods, and we call it Value-Added Tax. From the principal amount, it's been added every time you purchase. That's why no person is an exception whether they don't want to pay taxes, they are still going to pay it every single item that they buy. But it's unclear about bitcoin being taxable, our government is crypto-friendly but regards to taxation, what I've read from others it will be categorized as income tax.
Depends on the country/legal area.
In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
However, in Russia, for example, the government is trying to control and tax everything related to cryptocurrency, and is also putting more and more restrictions.In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
in russia the people who deal with cryptocurreny should do the money transactions out of russia in russia they should only hold crypto in their wallets lol
there is need of the system what selling goods and items what i know the expenses and donations are tax free thats why the company CEO-s buys a expensive things like art or some luxury things once you earn a lot you need to pay out also alot many of them instead of giving away buying just goods and items now when it comes to the crypto traders i think they can use the same methods.......that i think just:)
Depends on the country/legal area.
In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
However, in Russia, for example, the government is trying to control and tax everything related to cryptocurrency, and is also putting more and more restrictions. In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
so how about taxes you have to pay from btc ?
and is buying goods and items with btc is to way to cash out your crypto tax free?
You are paying the tax when you are buying the goods itself so don't feel too smart, maybe you can cashout by buying something on the blackmarket but apart from this you are going to pay taxes in someways even if your country doesn't have separate tax system for cryptos yet. and is buying goods and items with btc is to way to cash out your crypto tax free?
but there is ways to avoid taxes right? when you need to pay taxes in usa you send coins to europe or uk and taking out with binance debit card or asking someone in europe or uk will take out for you that could be the solution right?
off course if some ways to avoid paying taxes will be more expnsive then actually paying taxes then sure its not so good idea
Second option you buy car or other items or goods maybe some expensive weins or champagnes....
right?
off course if some ways to avoid paying taxes will be more expnsive then actually paying taxes then sure its not so good idea
Second option you buy car or other items or goods maybe some expensive weins or champagnes....
right?
Hello
In some countries this might be the case, the cryptocurrencies aren't taxed there but in most of the countries you do have to do KYC connected to your wallet , which inturns gives your information to the government very easily. Therefore if you would try to invade tax by P2P buying, you might have to go to the court to show where you got all the money from and then pay fine.
At the same time in many countries, they have system of GST , which takes around 5-10% of the price irrespective of how you decide to buy it.
Therefore you would have to check with what you are dealing with.
Laws are different in different places and I do believe you have to do a thorough research on this topic then decide to buy something with BTC.
But if you have BTC in cold storage since a very long time and therefore it's Virgin of might have no track history, then you can very easily make transactions with the other person, but registering the thing would be difficult in your name.
1. Country
2. Laws
3. Registration
4. History of the coins
There are a lot of things that you have to keep into account.
In some countries this might be the case, the cryptocurrencies aren't taxed there but in most of the countries you do have to do KYC connected to your wallet , which inturns gives your information to the government very easily. Therefore if you would try to invade tax by P2P buying, you might have to go to the court to show where you got all the money from and then pay fine.
At the same time in many countries, they have system of GST , which takes around 5-10% of the price irrespective of how you decide to buy it.
Therefore you would have to check with what you are dealing with.
Laws are different in different places and I do believe you have to do a thorough research on this topic then decide to buy something with BTC.
But if you have BTC in cold storage since a very long time and therefore it's Virgin of might have no track history, then you can very easily make transactions with the other person, but registering the thing would be difficult in your name.
1. Country
2. Laws
3. Registration
4. History of the coins
There are a lot of things that you have to keep into account.
Depends on the country/legal area.
In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
In places like Europe and probably Asia, bitcoin is treated like currency so you can't just not pay tax on what you buy for not using fiat. For countries like America I'm not sure if sales tax can still be added on but I'd imagine it probably would be argued it could still be paid (especially if someone coverts those funds to cash at some point).
You pay transaction fees in btc. Whyd you want taxes on top of that? I'd just love to ltc or eth if that happens...
so how about taxes you have to pay from btc ?
and is buying goods and items with btc is to way to cash out your crypto tax free?
and is buying goods and items with btc is to way to cash out your crypto tax free?
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