lol. If you pay taxes for this stuff you are a bit of a dumb ass. Bitcoin is not government issues they have no control over it. If you profit by withdrawing fiat then you must pay tax on the fiat since fiat is government issues and you choosing to use it. Bitcoin has no central authority and no one to answer to. The government doesn't have a bitcoin address so wtf. lol I won't pay profits in fiat. I won't use fiat to I don't have to obey any laws like fiat since crypto is not fiat. So you telling me I must record every single little transaction I make and work out the exact profit? Hahahaha sure sure. The government can't even control cash businesses never mind fiat. Also good luck to them on proving you actually own any crypto. I am not obliged to do any of these things. So I have to say for like the 20th time. USA is not the world. You can keep your insane laws and thug IRS.
Topic: Bitcoin taxation infographic.Any suggestions to improve? (Read 135 times)
Nice infographic.
Not sure about most countries around the world , but this is the latest info from HMRC for the UK.
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals
I believe it’s still rather a grey area , but the most important thing to remember is to keep as many records or info as you can. In the UK, the HMRC can retrospectively check your tax declarations and check many years into the future . They can do this when NEW legislation is passed by them and then go back and send you a bill!!
Not sure about most countries around the world , but this is the latest info from HMRC for the UK.
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals
I believe it’s still rather a grey area , but the most important thing to remember is to keep as many records or info as you can. In the UK, the HMRC can retrospectively check your tax declarations and check many years into the future . They can do this when NEW legislation is passed by them and then go back and send you a bill!!
All credit goes to the author of the infographic,but I'm looking for suggestions how all this information can be updated/improved.Is there something missing in the info?
https://imgur.com/O66dgkS
https://imgur.com/O66dgkS
Jump to: