Topic: Bitcoin to be Taxed...... - page 15. (Read 4552 times)
I think everything that is happening right now is mandated with tax even the food we eat and the things we consumed. Although it is quite inevitable in such countries as it goes to reparament of the society. I think every economic system which uses monetary could identified to have these taxes.
This is a good news if it is especially important for a country because it will increase the income of a country. I have read that according to the US Internal revenue service (IRS) that the bitcoin should be treated as an asset or an intangible property and not a currency, as it is not issued by a central bank of a country. Bitcoins treatment as an asset makes the tax implication clear. Because bitcoin is treated as an assets, if you use bitcoin for simple transactions such as buying groceries at a supermarket you will incur a captital gains tax.
Bitcoin is already taxed by governments in majority of the countries over their conversion into fiat, Till now they didn't find any way to tax it over network transactions but it is possible that soon they will implement it over network transactions too. That's why government have legalized bitcoin with some regulations so that they can apply tax over it.
I truly doubt if over network transactions can ever be possible to tax. Sure, anything might be possible, but I really still do not see how this can be. The only easy way it would be now is still via exchanges as long as you are converting to fiat. Then that way, implementing of tax can be done just by regulating the exchanges. Having this anyway, in most countries will start bringing more adoption and awareness for the usage of bitcoin.
Bitcoin is already taxed by governments in majority of the countries over their conversion into fiat, Till now they didn't find any way to tax it over network transactions but it is possible that soon they will implement it over network transactions too. That's why government have legalized bitcoin with some regulations so that they can apply tax over it.
I truly doubt if over network transactions can ever be possible to tax. Sure, anything might be possible, but I really still do not see how this can be. The only easy way it would be now is still via exchanges as long as you are converting to fiat. Then that way, implementing of tax can be done just by regulating the exchanges. Having this anyway, in most countries will start bringing more adoption and awareness for the usage of bitcoin. 
could happen if bitcoin has become legal in every country, and that is a big advantage for every country because bitcoin can be controlled by the government.
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
I don't like the idea that bitcoin will be taxed. I mean bitcoin has a high value so, if it were to be taxed, I believe the tax will be huge. So, what will happen to those people like me that considers bitcoin their only source of income. So, this is a big NO for me.
Unless a global revolution beyond actual state-economy binome happens, Bitcoin will end being taxed as states will need to control it to allow it to exist.
well there are countries who develops a bitcoin taxation rule but i differs significantly depending on your countries jurisdiction, so better to do some research regarding your country's regulatory frameworks. Some countries considers BTC to be a currency, while in other jurisdiction considers it as an asset or property, while others define it as an asset-like value.
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
I don't like the idea that bitcoin will be taxed. I mean bitcoin has a high value so, if it were to be taxed, I believe the tax will be huge. So, what will happen to those people like me that considers bitcoin their only source of income. So, this is a big NO for me.
it also means, governments around the globe thinking to declare bitcoin legal. Example, Australia Introduces Bill Killing Double Taxation on Bitcoin https://www.bitcoinmarketinsider.com/australia-introduces-bill-killing-double-taxation-on-bitcoin/
It's depend on each country policy whenever they want to apply tax bitcoin or not.
AFAIK when they have legalized bitcoin, they have right to apply tax on it as it will generate country's revenue, but in other side, bitcoin will no longer as decentralized currency.
AFAIK when they have legalized bitcoin, they have right to apply tax on it as it will generate country's revenue, but in other side, bitcoin will no longer as decentralized currency.
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
this is good information for bitcoin price increases, the more people use bitcoin and the more bitcoin demand the price will be expensive, at least we can take advantage of that opportunity to sell bitcoin at high prices.
Bitcoin is not too soon to be taxed because there is still a lot of time before the bitcoin will be fully legalized by the government and if the government will fully accept bitcoin then they will have a law that will tax bitcoin for sure because that is how they will make money in bitcoin and other cryptocurrencies is by taxing it and there is nothing that the people can do but to obey the rules.
I have been thinking about this a lot recently and came to the conclusion that realistically, Bitcoin and cryptocurrencies are likely not going to be able to be taxed by governments. There is just too much to track and even automated systems will not be capable of reliably linking individuals to their addresses strongly enough to warrant claiming they need to pay tax. Virtually anyone could use a mixing service and pay 1% and launder their coins which makes taxing essentially impossible.
There are a number of ways to bypass the taxes applied by the government so perhaps any of the government won't apply taxes on bitcoins. Bitcoins are the major source of income for many people's and all the sources of income are been applied taxes by the government excluding bitcoins. Bitcoin mixing services will be used more if ever bitcoins are been taxed. But for now, government has nothing to do with bitcoins so we can continue learning a good amount of profits in bitcoins. 
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
I just want to know how to do that, if it's applied correctly I think will a lot of evasive to pay taxes, the government does not know who really has bitcoin, right? 
its quite normal,anything that will become popular will come in eyes of government ,and it is money related government definitely going to charge,if users in a country increases to great extent.started by South Korea ,soon taxation will be imposed maybe on transaction from bank ,or any other trading from online stores, by other countries as well,the only wait is for large no.of users.
Bitcoin gave us freedom, and governments want to take it away from us. I think taxing is a really bad idea, that will ruin all sense of bitcoin
I don’t think that government will do any bad thing as all the taxes collected are been utilized for the development and betterment of the country. If bitcoins are been applied taxations than a huge tax will be collected by the government of the individual country and even the economy of the country will then increase. Also giving some amount of bitcoins as taxes will not affect much for us so it might be a good act but it is highly impossible to apply taxes to bitcoins as bitcoins are completely anonymous.
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
Yeah at one point or the other you can expect that to happen. People think that if they use cryptos they will be exempted from taxes and they think they are smarter than the governments. But you should have seen this coming, one government is planning to tax bitcoin, soon the majority will join in. Tax is a must and each and every person is obliged to pay it. 
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
I think most countries that supports cryptocurrencies are doing that thing even here in my country, our local exchanges are regulated by central bank so it has tax when we are selling our Bitcoins. Everything in this world are controlled by governments so want it or not tax will be implemented everywhere. But how about islamic countries? I think they have lesser taxes or don't even have taxes at all but I am not that sure just heared some rumors. I am not actually afraid of taxes it doesn't matter for me as I contribute small amount for the good of my country. What makes me worried about crypto most especially Bitcoin is that the transaction fees are getting higher now it is killing my purses. Take note tax is a one time transaction only as we cashout our funds on exchanges so it doesn't hurt that bad.
Lols tax bitcoin? What is the effort of government to ask for a tax? We are already paying the miners for every transaction. BTC is created to eliminate the 3rd party from transactions. Korea's government is unreasonable they should create their own crypto and apply tax to it. Lets see if anyone will use it.
This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
Hopefully this info is completely valid and signifies that crypto is recognized there. the future of another country will follow in his footsteps
Taxes can also help the state treasury,
The application of taxes to bitcoin can monitor the circulation of coins and avoid abuse so organized
Taxes can also help the state treasury,
The application of taxes to bitcoin can monitor the circulation of coins and avoid abuse so organized
Before implementation of taxes, there should be law that guides all involves with bitcoin.
Also, to protect our account from being hacked.
Interesting but I imagine how they are going to ensure that taxes are effected? Is it going to be on our wallets or only when we partake in a transaction? We live to see .
Jump to: