It purely depends on where you are located into, if you are on the US then it is obvious that you will need to pay some taxes after all
Topic: Bitcoin holders will have to pay their tax? - page 32. (Read 4380 times)
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, those who are investing on cryptocurrency and having different transactions like passing their coins to another wallet are already paying a transaction fee and that will be compensating for the tax.
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 am sure that in some countries they already pay. In most you have to pay only after you sell them for their local currency and that currency lays on banking account that is in that country.
What will happen is that:
a). people will just pay taxes.
b). people will move to other country.
c). people will exchange their Bitcoins fro something else that will not make them pay taxes.
I don't think that this is necessary. It would give a big pressure to investors.
Clearly the OP is a tax avoider! Can't really blame him as most of us don't bother paying taxes on bitcoin profits. At the moment however there should a tax reduction due to this bear market
I don't want to pay any tax for my bitcoin holding.I had earn that bitcoin from my investments.I had started Mining with some investments.My most of holding is from mining.I strongly disagree to pay tax for my investments in bitcoin and profit from it.
No one likes to pay tax, but if your holdings and earnings can be traced back to you, then you are better off paying due taxes. I was initially not paying any taxes over my coins, but once you have used centralized services to buy-sell-trade you are no longer enjoying any privacy. The exchange has all information about you that they need, and if governments find it necessary to force exchanges to hand over your data you are in deep trouble. I don't want to scare off anyone, but that's the price you pay for centralized services. The privacy aspect as little as it was years ago, doesn't exist anymore....
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 don't want to pay any tax for my bitcoin holding.I had earn that bitcoin from my investments.I had started Mining with some investments.My most of holding is from mining.I strongly disagree to pay tax for my investments in bitcoin and profit from it.
Just have to be organised and record all your trades as a matter of course. No point risking getting a hefty bill down the line. Prepare for it now, keeping track of both winning and losing trades. Governments are always on the lookout for tax revenue, and cryptocurrency is a veritable goldmine for them over the next few years. Or move to a tax haven.
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 think you are already late on this topic, many countries government including my country Indian government have started collecting taxes for big Bitcoin accounts and transactions. They are also planing to levied some special taxes on bitcoin and altcoin traders apart from their regular taxes. If government goes on collecting huge taxes like this things then we must be seeing people to leave this sector in a slow manner. But if the prices, growth of cryptocurrency, and the demand of bitcoin stays growing then you can see the people joining here on high numbers. It all depends on how you approach and your level of confidence on cryptocurrency.
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.
That is what some of us think and that is why we are trying to defend governments position on bitcoin. Governments must tax bitcoin before we should expect them to regulate it. The community will definitely increase if governments will adopt and promote cryptocurrencies like every other assets. Investors are going to have more confidence on bitcoin and cryptocurrencies market if governments are involves. 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.
Yes .This is mean regulation of bitcoin.If bitcoin is regulate in particular country,all the people who holding bitcoin in that country should pay tax.The people who had doing bitcoin related business like trading and mining should pay tax.If bitcoin is regulate in a country,the people will inverse without any fear.
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.
When the process of legalization of the crypto currency will be approached in the states to completion, almost all countries will be introduced a profit tax on income in the crypto currency. Therefore, we all really have to pay such a tax, otherwise the state will have to take measures to limit the circulation of the crypto currency and change its status. If we do not want to, we must pay such a tax. One of the first countries that introduced such a tax is Japan. There, now the profit from the crypto-currency in the form of tax is received by the state, as well as citizens from the occupation by this activity. 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.
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.
What do you mean "if"? Most governments are already beginning to tax it, and given the fact Bitcoin won't go away and "die" the others will join as well it is only a matter of time. To your second point, I don't think that hinders the growth of the community, if anything I believe it helps it in an indirect way. You see the biggest sharks and sharps in the world won't enter the market because it is unregulated and they don't want to put millions on unregulated exchanges. If all the exchanges become regulated, sure it may stifle growth a little in the short term, but in the long term I think it is in all our best interests because the sharks will enter knowing the exchanges are 100% regulated and secure from fraud.
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.
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