Topic: Bitcoin tax value - page 3. (Read 664 times)
It really depends. If the government is greedy, then 20% is a good option for it. With that being said, the government's concern is only money. If it is going to regulate bitcoin and let you use it freely, then taxes should be applied. I am not supporting it, but I do not want bitcoin to be banned. Either way, 20% is a high percentage. But you know, the government always tries to manipulate the public which is not something new. Let's just hope for the better.
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
First of all, you're definitely right about the inevitability of bitcoin taxing as countries continue to regulate the crypto sphere more and more.
I think it would be very unlikely however for a country to tax bitcoin with a uniform rate, which is why I think that anticipating taxation levels solely based on a percentage is most likely a futile thing to do.
Most countries are already taxing bitcoin profits at the same level that they would tax personal income and/or capital gains tax, which varies depending on the country that you're in. If your country is a historically low taxing country/tax haven of sorts, then expect it to be much less than countries like Australia/NZ/Canada, which has taxes of up to 40-50% depending on your income level. So it all varies and there's no single answer.
We can all agree that some countries dodge that taxes, how do they manage to do it?
In the first place who really wants to pay taxes are mostly nationalistic at a much higher level.. I won't be considered one presumably because I'm not paying any as of now as my country//government isn't implementing any regulatory actions on cryptocurrency incomes..
So it depends..
what TAX are you expecting? 19% ? 20%? 10%?
The higher the value of tax,, maybe the higher the needs of one country to run it sufficiently and economically.. So it depends..
Taxes are inevitable and everyone understands this.
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
Most of the country's regulations are considering Bitcoin as a legal property of who has owned it, so it may differ to every country's taxation percentage. So, you may have to ask to your tax agent of what percentage are you going to pay for every Bitcoin you own and how much the value of it but this is still under wide debate in other countries.
Bitcoin can hardly be taxed. because of the reason that bitcoin is very complex. bitcoin is a blockchain. so it's a secret that happens, if it means that it is acceptable to the country where it is taxed here.
In my country it is already taxable as capital gains tax and at a whopping
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.
So what should we do? Keep crypto as crypto because taxes are inevitable.
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.
So what should we do? Keep crypto as crypto because taxes are inevitable.
If you need fiat you always have some other options then to pay tax, and this is in case you sell crypto and withdraw fiat to bank account. For instance if you have option to buy stuff directly for BTC in your country you will pay VAT when do that, but that tax is probably lower then regular tax - then you can just sell that thing for fiat. Also if you find someone for personal direct transaction you can get fiat for your coins, no trace&tax. There is also option to buy gold/silver for BTC, in some countries there is no taxation to buy and sell gold.
As you can see there are ways to not pay tax on crypto and to get fiat on legal base, but also you can just hold and do not take care of taxes
what TAX are you expecting? 19% ? 20%? 10%?
since most of profit comes from trading, then it's either tax on trade (sell) transaction or capital gain we can expect the same treatment like stock, the tax imposed is 0.1% on selling transaction amount
if it is treated as capital gain, add it to your total yearly income and apply the tax according to your tax bracket rate
now it depends on your country's regulations how they tax you, and the rate may varies
either way doesn't matter to me
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
Yeah, soon it will become taxable in every country and I think 10% is fine for this one. In my place investing in stock market is not taxable, and hopefully this market can be like that in my place. Though we already paying taxes through the exchanges we use so we literally have no excuse not to pay taxes. 
In my country it is already taxable as capital gains tax and at a whopping
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.
So what should we do? Keep crypto as crypto because taxes are inevitable.
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.
So what should we do? Keep crypto as crypto because taxes are inevitable.
Off course, with the anonymity of bitcoin transactions, a novice would always wonder how the government can track the investors down.
There is no such a thing as anonymity with Bitcoin, especially not when it comes to newbies having bought their first coins through centralized services. Even if Bitcoin transactions were entirely invisible, it doesn't change anything when it comes to your legal obligation to honestly declare your gains and holdings.You should know how many people trade at stock/cfd brokers and not pay one single penny in tax. There is no such a thing as anonymity over there, and yet the government depends on people's honesty when it comes to gain declarations.
I'm not at all a fan of paying tax, but when it comes to using centralized services, it's just better to declare everything since you don't want any problems with the government at a later stage. If they bust you, you will still end up paying everything, but then with a hefty fine on top of it and that will definitely hurt. It sucks, but what else can you do? The only alternative is not using centralized services.
but in some countries the government has required companies accepting payments with bitcoin to handle the user’s data.
Aren't all shops automatically (ie, by default) saving all your transaction history for a couple of years at minimum? 
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
To be honest I don't want to pay any taxes but it is indeed for any government and also we need to obey then what rules they are implementing anything around 15% is much fair and also people will not do any frauds for this amount so the governments as well the citizen can be benefited by right amount of tax value.
It's hard to predict wich tax from these three will be the one, but the lower tax the better for the economy and for the people trading and making life from trading.
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In the future, it will depend on how broke the country you live in will be, and how socialist will be as well. In theory this could be somewhat avoided paying directly with bitcoin in shops but if you order online, but in some countries the government has required companies accepting payments with bitcoin to handle the user’s data.
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
it is hard to say
cos when you buy it
like you buy it 2012 just 200 usd .100% just 200 USD
when you buy 2012 just 200 usd .gov tax you current price 7000 USD .10% is too much .700 USD
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
No one want to have that number in big,so I will be happy if the value of the tax in single digit but it depends on your country most of the countries can tax you in between 10%-20% so you need to pay what they were asking for other wise you need to face legal actions but now they have serious problem that tracing of income in crypto currencies by using this many people can evade taxes. I don't know why a lot of newbies still think that earning something the crypto market is somehow tax exempted
It is either of these two factors.
One is depending on the location where they are and how tax issues are treated.
The second is how can it be possible to tax where bitcoin is anonymous.
This second curiosity is because of the means of getting those who are affiliated to bitcoin investment. Off course, with the anonymity of bitcoin transactions, a novice would always wonder how the government can track the investors down.
As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?
When it comes to the fixing of the right tax rates, except in the process of law making that makes room for public opinion, that is when our thoughts really matter but for every tax laws, it is expected that the sponsors of those laws and the law makers that will decide on it, down to the head of government that will assent to your bill before making it as laws, will have to put into consideration of of the tenets of a good tax system and that is "convenience" by putting themselves in the position of the tax payer if he would be willing to pay at the rate they are fixing and not just the projected revenue based on the percentage they have set.
For me, I think the rate should be between 10% and 15% but with conditions in that all cost incidental to the earning such revenue should be allowed to be deducted before levying such rate. For example, it will be unfair for me to be charged on a marginal say $100 (difference between the amount I bought and sold) without allowing me deduct the transaction fees for miners by transferring from my wallet to the exchange sites, the one the exchange sites deducted for trading and the withdrawal fees I paid for getting it back to my wallet.
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