Topic: Bitcoin holders will have to pay their tax? - page 22. (Read 4377 times)
There are some rumors that bitcoin will be taxed if an organization maintains a large amount of bitcoin as prescribed, it will be subject to tax but if that individual holds less bitcoin then it may not pay taxes.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
I think nothing will change, because this is completely ok to pay the tax from your earnings, and bitcoin community needs to be ready for this to happen. When the countries that they are living in would accept the law like that. Maybe the expansion of BTC community will get low than usual.
Government can't force to pay taxes in their country because no one are controling bitcoin. Bitcoin runs in online bussiness. Even government don't have power to pursue of what their wants. Taxes are for the people who employed in a company.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Maybe the expansion of BTC community will get low than usual.
Express gratitude toward God you just specified Bitcoin, at that point we will all move to Ethereum and leave the Administration with Bitcoin, they can remain in it spoil in pieces with their assessment. Also, incidentally, do you even think it is feasible for any legislature to simply choose to begin gathering charge from bitcoin network?, the network of BTC is comprised of loads of individuals from various nations and one government don't have directly finished it, all the better they can do is prevent their subjects from making utilization of bitcoin.
Why should Bitcoin "holders" pay any taxes? There is no tax for purchasing some asset. Only when you are selling it, you need to pay taxes on the profit. Well, incase crypto is covered under VAT or GST, then you need to pay some taxes.
I think this can be happen if the government will do that, there are a lit of way for them to pay us a tax, if that happen I hope the tax is not too much .
I doubt the government will be able to control bitcoin owners. Information is too unavailable for them at the moment. It is even difficult to imagine what can be done at this stage, in order to implement total control.. I believe that they will not work!
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Thank God you only mentioned Bitcoin, then we will all move to Ethereum and leave the Government with Bitcoin, they can stay in it rot in pieces with their tax. And by the way, do you even think it is possible for any government to just decide to start collecting tax from bitcoin community? Lol, the community of BTC is made up of lots of people from different countries and one government don’t have right over it, the best they can do is stop their citizens from making use of bitcoin. Maybe the expansion of BTC community will get low than usual.
Haha, well I guess if the government can see bitcoin of course they can also see other crypto currency that they can also say we need to pay tax like ethereum or other crypto currency , for me government can decide collecting tax if they want. Because we have different countries and it is depends on the country where you belong when they want to collect tax. Because I know that They can trace us if they want.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Thank God you only mentioned Bitcoin, then we will all move to Ethereum and leave the Government with Bitcoin, they can stay in it rot in pieces with their tax. And by the way, do you even think it is possible for any government to just decide to start collecting tax from bitcoin community? Lol, the community of BTC is made up of lots of people from different countries and one government don’t have right over it, the best they can do is stop their citizens from making use of bitcoin. Maybe the expansion of BTC community will get low than usual.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Maybe the expansion of BTC community will get low than usual.
I hink not because at first btcoin holders are anonymous and it is hard to trace people with anonymity on their name. So what the government can do is not take taxes on Bitcoin holders but to add taxes to the transactions they do with the bitcoins they have. In that way they would not try to trace people and can have the taxes taken through the transactions made.
For US citizens it seems it's additionally insane due how you must keep track of the price of every single altcoin trade as well. So if you do micro-trading and have THOUSANDS of transactions on-exchange between altcoins (for example, some people use big volume altcoins to do scalping in and out of BTC into said altcoin) then you will have to keep and report this insanely long record of micro transactions and they will all be separately taxes given the current price of the BTC and altcoin at the time of the transactions. Please explain me how in hell are you supposed to look at that data without having a mental breakdown.
The government has already started to tax bitcoin users. The government considers bitcoin as a form of property instead of tax. If someone has been holding bitcoin for a short term and then sold them, it should be reported on income tax. Where as holding for a long term (more than a year), you will be taxed as capital gains. But only few people have reported their tax related to bitcoin and no strict actions has been yet taken.
Why should Bitcoin "holders" pay any taxes? There is no tax for purchasing some asset. Only when you are selling it, you need to pay taxes on the profit. Well, incase crypto is covered under VAT or GST, then you need to pay some taxes.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Maybe the expansion of BTC community will get low than usual.
Trade profits are already being taxed. Crypto tax already exist. It's part of a needed regulation that could actually help increase adoption contrary to your statement. You can't expect to make profit and not pay taxes.
When we pay taxes, I just hope that it will never be on the hands of some greedy persons. It is really okay to pay but hey, some reasons are just nonsense. We also want to help one another by engaging on some charitable program.
Governments, also have a lot of budgets so they won't bother.
It is actually better that bitcoin holders should be taxed, especially large investors who invest in bitcoins. Provided that the tax is in accordance with the number of bitcoin owned% and not in corruption. I prefer it like that than I should be forbidden to hold bitcoin that the result is not getting any money.
If the government will impose of bitcoin taxations,it does mean it will be legalized on that country. In my side,i will agree with this,because it will be an additional fund of the government to use on any projects that people will be benifited of it. We will also freely to do any bitcoin activities,while continuos earning profits.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Many countries have now introduced and continue to introduce taxation of crypto-currencies, including bitcoin. In my opinion, this is quite normal. For everything that makes a profit for a person, the state has the right to establish taxes. The crypto currency is not an exception. The introduction of taxes on the crypto currency will change almost nothing. The profit from employment кpиптoвaлютoй decent enough, therefore to use it all the same will be favorable. Maybe the expansion of BTC community will get low than usual.
storing an asset in bitcoin does not have to pay a bitcoin tax it will only be difficult if you make a shipping transaction it is only disconnected from the transaction fee rather than from tax and it is very clear it really is not necessary
I think it does not matter if we have to pay taxes but on a reasonable scale by looking at our income, that is all for the sake of the country and economy of our country.
Most likely the security will be further enhanced by the government so that investors can be more comfortable in investing at any time and prices can soar after the majority of countries begin to inaugurate their growing existence.
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
Maybe the expansion of BTC community will get low than usual.
In my own opinion, bitcoin investors are already paying transaction fees in order to pass cryptocurrency on different wallets or in any online stores that is accepting bitcoin payments and it will compensate as a tax.
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