Russia is looking into ways to legalise and more than likely tax Bitcoin. Poland already taxed 18% when you try to cash out your hard earned coins. It's up to government in each country, some don't have time now, some already did to get more revenue and some will do it in the future. Remember where is a lot money involved tax man is always there.
Yeah, transaction fee is the kind of tax and this is the right of government to collect taxes without this income there will be no development in the region ad all this taxation will also be implemented over bitcoin and there will be eases for the government and citizen for paying and collection of tax and bitcoin will also reduce taxes amount as due to its volatility and all this the natural thing no worries now. 
Topic: Bitcoin to be Taxed...... - page 17. (Read 4552 times)
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 this will be the new era for crypto currency for implemented the tax and maybe it will give a good impact for the crypto currency itself. because i guess other country will use the same tax like what south korea did and in the end, the government can give permission for bitcoin to be a legal so people can use bitcoin without worried of anything. but actually i am curious how much the tax amount that will be apply to us and when the tax will be giving to us.
Great. It's countries finally recognizing bitcoin, and is one of the first steps for BTC to be widely used throughout their respective country.
I guess if it's recognized by most of the countries, the usage and adoption might become larger in demand. About the taxation of bitcoin, I think Government might collect bigger taxes on bitcoin if ever the possibility of implementation took over and dominate the digital currency system. We might be affected with the new order of bitcoin system due to law makers regulation will initiate power to control over transactions of each person who earn bitcoin specially traders who had been doing it for so many years, and now the freedom might be taken away because of that changes. This must be reviewed very well before taxations and legalization happens in a certain country.
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 great news! if this thing"s happen it means that the bitcoin also in our country will be regulated.maybe in korea now they acknowledge the presence of bitcoin and the important of crypto currency into their economy.how i wonder in this last few months i've heard a news that bitcoin ICO campaign is banned in korea but now they plan or preparing of tax in bitcoin its means the impact of digital currency is severe and its will continue its legacy to the whole world.
I think it is possible but really difficult. When that happens though I think it would somehow eliminate some of the benefits of cryptocurrency, one being cryptocurrencies should be out of scope in terms of government radar.
When you say taxing, it usually means the government can trace your cash flows. Though with fiat money there are still people getting away with illegal and money laundering activities, probably what will get taxed are businesses that accept or sell bitcoins. For individuals though that make profit from bitcoins such as mining, it would be difficult to tax them. Venezuela was able to crack down on bitcoin miners because of the surge in power consumption abd they were able to get away with the reason that because the electricity is subsidized in venezuela they had to shut down mine operations because they are apparently technically stealing electricity from the state. So probably mining would also get taxed because it is easy to track miners through high power consumptions.
Miners getting taxed and businesses operating with bitcoin would most likely get taxed in the future.
This is just my opinion.
When you say taxing, it usually means the government can trace your cash flows. Though with fiat money there are still people getting away with illegal and money laundering activities, probably what will get taxed are businesses that accept or sell bitcoins. For individuals though that make profit from bitcoins such as mining, it would be difficult to tax them. Venezuela was able to crack down on bitcoin miners because of the surge in power consumption abd they were able to get away with the reason that because the electricity is subsidized in venezuela they had to shut down mine operations because they are apparently technically stealing electricity from the state. So probably mining would also get taxed because it is easy to track miners through high power consumptions.
Miners getting taxed and businesses operating with bitcoin would most likely get taxed in the future.
This is just my opinion.
Great. It's countries finally recognizing bitcoin, and is one of the first steps for BTC to be widely used throughout their respective country.
If it would be taxed accordingly and reasonably then I'm fine with it. It would be the right choice as the flow of money into the country isn't regulated much and can cause unusual economic instability. The country would benefit from it too on the long run and will probably attract more attention globally.
This is not new or startling... when bitcoin (or crypto currencies in general) are popular enough to be recognised by countries governments - without a doubt there will be some sort of tax on them. Even if it’s a standard tax that’s imposed on local currencies.
The issue with this is that we preferably want them to tax it and classify it correctly (and not destroy any profits on capital gains etc).
The issue with this is that we preferably want them to tax it and classify it correctly (and not destroy any profits on capital gains etc).
I think there are already alot of country who have already add a tax on bitcoin. I have read that germany already does? How was it possible?
How can bitcoin be taxed 
I think it's perfectly natural if bitcoin is taxed
And I think it isn't. Bitcoin is money and money is not taxed in the way that they are trying to tax it. When you earn fiat, you are being taxed on your income, but if you buy fiat from someone you aren't. So, if you had bought a car and then decided to sell it for fiat, you aren't taxed. You had the wealth and turned it from one thing into the other without profit.
Now, how would you attempt to take taxes from someone who had bought BTC for fiat in 2010 and is holding until this day? Would you try to make him sell to get e.g. 100k USD he owes in taxes? It's not going to happen.
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
What did you expect with a market and asset class does a 10x in one year and is worth almost 200b? It was surely expected that countries would start taxing gains and it is not only South Korea looking to do this. Canada is
going to tax bitcoin but is in the works of finalizing some laws. Look for all other major countries to follow suit or at the minimum have laws in place describing what happens with bitcoin gains if that is not taxation.
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
We wait how they put taxes on bitcoins, this may also be the reason to legalize bitcoin because the government has benefits from bitcoin taxes, let alone the price of bitcoin is at its peak today.
How can they taxed something that is anonymous are they going to inspect each block of transaction in order to charge them with the right fees ?
Maybe this is only possible through a third party site that is controlled by government like for example trading or exchange sites but they will surely be out of business as bitcoin users prefer decentralized exchanges than the one's controlled by government. In any case it will be highly diffucult how tracking and bitcoin users total earning because of it's blockchain technology.
Maybe this is only possible through a third party site that is controlled by government like for example trading or exchange sites but they will surely be out of business as bitcoin users prefer decentralized exchanges than the one's controlled by government. In any case it will be highly diffucult how tracking and bitcoin users total earning because of it's blockchain technology.
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
In the world of crpytocurrency, people usually misunderstand the context of the term TAX. They think that when we say bitcoin is taxed, the government are going to get a part of your owned BTC as a tax monthly, which is not true (and I think will not and should not happen). Bitcoin is taxable in the sense that miners are being paid in processing the transactions done by people who use bitcoin. Another way how bitcoin is taxed is that these businesses and establishments accepting bitcoin as payment are actually paying transaction fees especially when the buyer and user are using two different btc wallets.No, the OP is not talking about mining fees. The OP is talking about taxes collected by the Government. The government has the right to tax anything... income (income tax), gains (capital gains tax), consumption (value added tax) or even death (inheritance tax). Transaction fees are something bitcoin users live with.
Well this is a thing when a country legalize bitcoin, in exchange of adoption is the tax that every users needed to be paid every time they have a transaction.
Which I think it's unjust to do, bitcoin is decentralized and should government never touch any thing of it. Government always run after this as they see bitcoin as a source of fund to be used in whatever their prerequisite.
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
Thats not good if all countries implrmeted to tax bitcoin everytime you use it, i cant imagine that to bitcoin but its happening.I thought bitcoin cannot be taxed, they will need another fork to do that.
Russia is looking into ways to legalise and more than likely tax Bitcoin. Poland already taxed 18% when you try to cash out your hard earned coins. It's up to government in each country, some don't have time now, some already did to get more revenue and some will do it in the future. Remember where is a lot money involved tax man is always there.
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
In the world of crpytocurrency, people usually misunderstand the context of the term TAX. They think that when we say bitcoin is taxed, the government are going to get a part of your owned BTC as a tax monthly, which is not true (and I think will not and should not happen). Bitcoin is taxable in the sense that miners are being paid in processing the transactions done by people who use bitcoin. Another way how bitcoin is taxed is that these businesses and establishments accepting bitcoin as payment are actually paying transaction fees especially when the buyer and user are using two different btc wallets.No, the OP is not talking about mining fees. The OP is talking about taxes collected by the Government. The government has the right to tax anything... income (income tax), gains (capital gains tax), consumption (value added tax) or even death (inheritance tax). Transaction fees are something bitcoin users live with.
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
It is difficult to tax Bitcoin because of unknown transactions, we can not the transactional manager.The government can not control Bitcoin, Bitcoin goes beyond a country. However, if the state actually levies Bitcoin, then they have fully accepted its existence and legitimacy.
I think it's perfectly natural if bitcoin is taxed
I guess so because the government will be depending to bitcoin by that time and it's going to be a very good help to the country, to other bitcoin users that are happy with this and it will be disappointing to the bitcoin users that really don't stand with this type of idea.There's nothing to worry because we all love that the government will support bitcoin and this is just the return of their support. When bitcoin will be taxed, other alt coins should be imposed with tax too because we are mostly focus with bitcoin, the government rather. As the taxation will start, others can possibly jump to alt coins that doesn't have tax so it's fair that all crypto's will be taxed.
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
We wait how they put taxes on bitcoins, this may also be the reason to legalize bitcoin because the government has benefits from bitcoin taxes, let alone the price of bitcoin is at its peak today. Jump to: