Bitcoin holders will have to pay their tax? - page 28.

waqasniaz007

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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.

Well i think it will be worst saruation because if there is loss on bitcoin than it will be difficult satution for bitcoin holders, Bitcoin should be considered as asset.

bitcoinrays

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Quote from: thecoder2017 on June 24, 2018, 01:39:46 AM

Bitcoin are already being tax when trading and thats the law regarding trading in bitcoin and it is also our responsibility to pay our taxes monthly.

It is authentic and legal and can be run in state with all rules and regulations. These things aren’t understood by the politicians that they are continuously talking against it. But some countries know it better that what are the pros related to this crypto market and how it would be affecting them in future. But I don’t really understand why they aren’t up to any good legalizing thing.

cryptojac17

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Quote from: jovs on June 25, 2018, 08:02:54 AM

Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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.

Holding bitcoin does not mean that you are already gaining profit from it. I mean actual profit. You only get profit once you use it after converting it into cash. By the time you decided to purchase things or pay for services using bitcoin, it is already inclusive of tax, so you already given extra revenue to the government. Earning bitcoin from bounty is just the same. Once you diversify your investment, you are automatically being taxed depending on what items or certain things and asset you decided to buy out of bitcoin earning.

Bitcoin will become when it will become money or fiat, if it still a crypto we are just perceive it that it has value, once it is in the exchanger in their taxation will take place the government has the control,

jovs

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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.

Holding bitcoin does not mean that you are already gaining profit from it. I mean actual profit. You only get profit once you use it after converting it into cash. By the time you decided to purchase things or pay for services using bitcoin, it is already inclusive of tax, so you already given extra revenue to the government. Earning bitcoin from bounty is just the same. Once you diversify your investment, you are automatically being taxed depending on what items or certain things and asset you decided to buy out of bitcoin earning.

Nicol3

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I dont think it will get low and I really dont mind paying taxes if ever bitcoin holders are asked to pay taxes. We are all supposedly entitled to pay our taxes to contribute for the economy of a certain nation. It would be beneficial to everyone too so I dont thing there is anything wrong with it.

kier010

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governments in my country regulate exchange site so every time we cash out it includes tax. there is money in bitcoin and it will not affect the community. those that against tax don't know where the tax goes and they they don't know want to know it either. they think only for themselves and not the other side.

Whosdaddy

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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 am not in the favor of paying tax over your Bitcoins because it is a currency and we all should keep in mind that it is not an asset and decentralized in nature while the government is considering it as asset and it is very clear that this does not belong to government. So they have no right to implement taxes over it and we should oppose it because it is just like to sleep in sunny day.

beej

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I think taxing bitcoins will inevitably come, it’s how things will
probably end up. The fated outcome that’s bound to commonly
happen in this age, the price we pay for amelioration. With the
government’s interest and involvement with cryptocurrency we
can fairly expect that taxes and regulation will go together as
things progress more.

tepakpak

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I think it does not matter for bitcoin users if the tax is fair, maybe with taxes also our country would be better for infrastructure. May be.

lifetimebitcoins

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most of the counties are applying a tax for bitcoin holders collecting the tax and paying tax for cryptocurrencies will make the crypto industry legal and it is a positive sign

s0beit

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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 hope tax for cryptocurrencies would not be implemented because it will surely be a big loss for most of us users. However, there are still lots of transactions where we are deducted or being charge with fees and I think those fees are taxes already.

pragna

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I think it is very difficult to identify a man that how many BTC he carring yet. You can say if any one want to buy a goods with BTC or sell btc directly he must have to give vat(Value added tax). But it only possible when a government body whole authorized BTC in his country and make free to buy and sell BTC. So when people will get access free fair they will give vat otherwise it is so tuff for a government to identify a BTC holder body.

crazycatwoman03

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Quote from: jaocoincrypto18 on June 24, 2018, 08:53:34 AM

Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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.

If the government impose Bitcoin tax to the users its mean that Bitcoin investments is legal in the country in which the people are now protected from the scam people who use Bitcoin platform just to steal money from the people. I strongly believed that Bitcoin users will not reduce but it will increase more because people are more confident that every investments that will use Bitcoin platform is now 100% legit due to regulation policy.

Taxing bitcoin could surely help in increasing the trust of people in it because the government will recognize it as currency but I don't think that will have a big effect on making the investments more legit. Regulated or not, those who commit bad acts using cryptos will still be accused of crime because there are laws that covers online scamming.

Now that the population of bitcoin earners are growing, I do really think that the government are thinking of a way for us earners and holders to be taxed as well as those who have online businesses.

d0flaming0

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this issue seems to be more difficult than the other issues that had passed. i honestly canmot speak what to do, but honestly we can only find a way when the time comes, there are also conclusions that can be made when it is really crucial and as of now if there could be changes, nobody knows what is it, so in my point of view i will just let time do what it needs to do.

vintages

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It's not a new thing that some government are placing enforcement for bitcoin holders or investors because they feel that is the only way they get involved I cryptocurrency since it is a decentralized system. If paying of tax is the only way to make bitcoin or other cryptocurrency acceptable in the state, then every bitcoin holders have to obey cause they have no choice.

juragane

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CAT.EX Exchange

of course not, the government will not be able to master bitcoin even the government will not be able to attract taxes for bitcoin holder, the bitcoin is free no one can control.

ShadowBits

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

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.

If the government wants us to pay taxes if we gain something from Bitcoin, then what if we lose everything just because of Bitcoin is heading down? Should we still pay for those taxes?

pellor mas

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Some countries have made vague references to the existing tax documents without actually trying to accept the hints for a new digital currency. If you are a regular bitcoin user , receive bitcoin and then spend on goods and services, then adhere to the tax laws, you must declare fair market value at the time of purchase.

shinchan123

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Merit: 100

I think bitcoin profits are being taxed in other countries, this is part of cryptocurrency regulation imposed by the government. I think this is better than government banning cryptocurrency, it only means that the government view cryptocurrency as a great way for people to gain money through investment.

tylox

newbie

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I don´t think any government want tax from you if you only holding Bitcoin. They want tax of the gains that you earn when you sell or trade with it.
In germany you only must pay tax if you hold the coin not longer as a year. So when we hold coins for a year and 1 day than the gain are tax free.
If you trading with your coins or sell it before the holding period is over, have have to pay 25% tax from your gain.

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