Bitcoin vs Taxes | Bitcointalksearch.org

usorin

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Quote from: Beerwizzard on July 15, 2017, 03:08:15 AM

I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.

I agree with taxes but not when it comes to bitcoin. The whole purpose of it was to be decentralized, no taxes and so on. I dont agree not even with the exchange taxes. I know it is a lot of work behind it but it has a similar behaviour like fiat money.

cotton ball

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by paying taxes, each step we will feel comfortable and avoid all misunderstandings by the public. there is a provision that we do not violate as taxpayers and indirectly also contribute to the development and sources of foreign exchange (unofficial) of the country. What I assume if there is good harmonization between the two will have an impact on the recognition of bitcoin and its users.

Lumi3004

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I think that most countries in the world the biggest income is from taxes.
Now if bitcoin is illegal by the government of the country, it might be possible to withhold tax from the percentage, so it's not surprising if this happens.

fiomcorka

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Quote from: Shadon24 on August 14, 2018, 04:11:09 AM

Taxes have always been a subject that people have commented a lot lately. I think bitcoin is our property if our wealth is so much that we should be obliged to submit to the state.

Taxes make nations if invest properly and the reason why majority of the countries in the world are struggling in terms of low living standards and in equal distribution of wealth is just because they either do not pay taxes to the state or the taxes paid to the state are not used in the right time in the right project. Countries like Denmark and Sweden have prospered immensely by using the tax amount to improve human capital.

randyg29

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http://www.daxico.com/

I agree of paying my taxes and it is still good to support our economy to grow while we are also processing our growth in doing this in our country. And I think it is a big help to pay some of our taxes to prevent from nit encountering some issues about it.

awik p

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Pepemo.vip

Quote from: BigTeeths on October 17, 2018, 02:25:06 AM

I would not mind too as long as its fair. Let's just accept that there is no other way around and we still need the help of our government. We will get used to it along the way just like the tax they put into our daily necessities and salaries.

i think taxes will help the development of a country. i personally do not matter, but indeed the government must legalize it first bitcoin, so that it can make binding regulations. of course that makes development of Btc better

BigTeeths

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I would not mind too as long as its fair. Let's just accept that there is no other way around and we still need the help of our government. We will get used to it along the way just like the tax they put into our daily necessities and salaries.

BagzMM

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In my opinion, I think it is our responsibility as a good citizen in our country to pay taxes, anyway it will proceed for the improvement of our country.

squog

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ANONYMOUS MOBILE PAYMENTS

Personally i don't have to pay taxes when i buy or sell crypto currency in my country. But i guess there are loop holes so you won't have to pay taxes for your crypto currency. It would ultimately depend on your country's tax law. Lastly, you can opt to move to different country where tax laws are poose then go back.

goodluck0319

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I think that this should be interpreted as bitcoin for honesty, and it can manifest itself in various areas

gokudera

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Quote from: Beerwizzard on July 15, 2017, 03:08:15 AM

I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.

Its ok to have a tax applied on every bitcoin that is transacted but it must be on the right measures. It must be accurate to the amount of money inside the bitcoin to be equal and fair and be sure that those taxes that are accumulated or gained is use for a god cause and a good reasons.

Chrisjay29

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For me it is okay to put taxes on bitcoin as long as its on a right price. We all know how taxes help our country thats why i never doubt to pay my taxes. Because in the end all you given will be back to you and your family

margaret22

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In my country, it is officialy not a currency, and yes, people should pay taxes after the profit, made by the value growth of the cryptocurrency. But the regulation is quite unclear, and I don't know, if there is anyone, who actually paid any tax after crypto investments.

RadjorBlade

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Quote from: amber deposit on September 17, 2018, 12:38:53 PM

It depends on country and your exchange, in my when I send fiat due to change into BTC i must write that it is investment. So after "successful" investment I will must pay some taxes. So for example the first part of paying is when u exchange FIAT into BTC, and then propably if you get an income from your investment.

Taxes are state revenues that are used for government development and funding, therefore there is no reason whatsoever that everything related to business must be taxed, including bitcoin. Because bitcoin is on the internet wallet it is certainly not tracked, but when exchanging bitcoin into fiat money, it can be taxed.

Silberman

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Quote from: pandanaran on September 17, 2018, 08:40:14 PM

Quote from: Beerwizzard on July 15, 2017, 03:08:15 AM

I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.

I'm not having problems like that, it's kind of weird if we have to pay taxes on bitcoin or other cryptocurrency purchases, I think there must be a reason for this, while the government doesn't accept bitcoin but why is there a tax? and there is no official regulation regarding that in my country.

You need to understand their position, they are seeing that a new industry is being born and like always governments want a piece of all the money that is being generated by people in those different businesses, but they are realizing that if they accept this new form of money in the long run they are going to be affected, so they want the benefits of taxation but they do not want to make it legal.

kenlyresuello08

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It's the government protocol so we have follow their orders if we don't want to ban the bitcoin currency in our own country

mkhadazz

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I think that will only happen if you buy and sell bitcoin at the exchange place. I am sure there will be tax from the maker and taker, and the tax is not too much, just as a transaction fee, because you have to know every place of exchange has a fee when make a transaction.

spongegar

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I don't think that paying for taxes is stupid. For one thing, paying taxes means that crypto currency will be under the protection of the government and anyone who tries to commit fraud or theft on its citizens will be persecuted by the full extent of the law. Besides, there are ways to minimize your tax if you just read up on your country's taxation laws.

DavidNiva

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Quote from: Beerwizzard on July 15, 2017, 03:08:15 AM

I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.

it is true that the state takes taxes from exchanges, bitcoin deposits and the state still regards bitcoin as a tradable commodity so things like this are very natural because in countries that do not support bitcoin, bitcoin cannot be used to pay for goods, so the owners only can have it just to save.

gambitcoin53

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Quote from: deppil on September 17, 2018, 09:49:46 PM

Quote from: Edraket31 on September 17, 2018, 05:11:43 PM

Quote from: amber deposit on September 17, 2018, 12:38:53 PM

It depends on country and your exchange, in my when I send fiat due to change into BTC i must write that it is investment. So after "successful" investment I will must pay some taxes. So for example the first part of paying is when u exchange FIAT into BTC, and then propably if you get an income from your investment.

We do have different county and different perception about cryptocurrency in our own government and if the law requires us to pay for taxes then there is no way for us not to follow our own government and it would be better if we will just follow them rather than having a crime which is tax evasion, at least on the other way around we are helping our country.

is the obligation must also be followed by anonymous bitcoin users? even without us paying taxes though they won't know that?
then what is our advantage if tax is applied? the government only uses their power to extort and gain profit from all parties arbitrarily

agree, it is not a choice but a law rather, third parties are being taxed, it may be hidden as huge fees, most of the time, the one being taxed are the third parties, but those amount was being shouldered by their clients disguise as fees, we cannot see the itemized amount of fees being imposed by exchanges, but bitcoin being taxed are dependent on which country does the exchanges belong to.

Topic: Bitcoin vs Taxes (Read 6963 times)