Bitcoin charges and taxes | Bitcointalksearch.org

audaciousbeing

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Quote from: smario on January 31, 2017, 04:08:31 AM

The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??

How can one compare service charge to tax? Tax are way more higher than service charge and also will be ata percentage which will be applied on all transactions no matter how big or small. And if we say tax, it needs to be regulated by a recognised agency which is absent in the case of bitcoin. Even mere examination of all the principles of taxation, its totally different from the transaction fees.

Tyrantt

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Need some spare btc for a new PC

Maybe bitcoin could be taxed as income? I don't know the laws in other countries but in mine, you should need to report the bitcoin earning to the, well government, but no one does it even tho it should be done. I think the laws are pretty much similar to one another about the income taxing in other countries, you should even report every online sale earnings like on ebay for example. Hope that answers your question if that's what you meant.

smario

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Quote from: zeze18 on February 01, 2017, 11:37:55 AM

Quote from: smario on January 31, 2017, 04:08:31 AM

The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??

bitcoin tax laws in my country there is no provision, it may be in other countries that have more users bitcoin there are tax rules that bind, to my knowledge there has been no binding tax regulations other than Bitcoin payment fees when trading

thanks for the reply..

zeze18

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Quote from: smario on January 31, 2017, 04:08:31 AM

The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??

bitcoin tax laws in my country there is no provision, it may be in other countries that have more users bitcoin there are tax rules that bind, to my knowledge there has been no binding tax regulations other than Bitcoin payment fees when trading

AgentofCoin

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Quote from: smario on January 31, 2017, 04:08:31 AM

The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??

Mining Fees are not a tax. Bitcoin does not have taxes in the traditional sense.
The Mining Fee is an incentive for a miner to select your pending transaction
over another, and include that within their "newly found block". You are paying
for increased "confirmation priority". If you choose to pay a lower fee, you choose
to wait a longer time for your first confirmation.

With traditional taxes, any taxes bitcoin users may or may not need to pay on
their bitcoins would be self reported and paid to your government. Bitcoin does
not auto allocate, withhold, or report to your government on your behalf.

smario

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The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??

Topic: Bitcoin charges and taxes (Read 1016 times)