Bitcoin vs Taxes - page 2. | Bitcointalksearch.org

deppil

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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

pandanaran

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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'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.

BigBos

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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.

for some countries, I don't think bitcoin belongs to property, and it's not stable, so it's very difficult to determine the tax. besides, we do not know with whom this tax must be collected, because taxes are used for joint development.

Edraket31

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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.

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.

carlisle1

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Quote from: jack wira on August 13, 2018, 10:05:18 PM

Ane rasa Pajak itu memang wajib berkembang nya sebuah negara apabila rakyatnya taat pajak

Stupid noob,this is english section and theres no place for local speakers here better go back to mountains in which where you belong

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.

right dude,taxes is every peoples obligations when we made profit so theres nothing to be debatable because we must pay taxes

Silberman

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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.

You need to understand this, as soon as you enter the fiat market the governments make the rules, that is the main reason why governments are going to try to stop the adoption of bitcoin so people cannot exchange their bitcoin directly that easily, if we get to the point in which you can exchange your bitcoin for almost any product and service that you can imagine then it's game over for the governments.

amber deposit

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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.

Domicbora

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Quote from: RasicaOla12 on August 13, 2018, 10:10:45 PM

Bitcoin exchanged with others is considered as your income, meaning you have to pay income tax. Bitcoin earned through trade or bitcoin exchange is also considered a taxable benefit in personal income.

Yes that is but we know that most of the countries in this world are tax free for cryptocurrencies while few are taxed countries for crypto. People living in tax free countries are enjoying their profits and wealth because their governments do not want to give them more pressure to pay tax here as well. In countries where it is taxable by government made it difficult for people to pay tax on everything.

Shadon24

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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.

patarfweefwee

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Actually in our case, you don't get taxed as long as you don't cash out your investments. You can buy as much as you want but by the time you cash out then that is the time the government will tax you. So my strategy? I convert my crypto currency portfolio and place it fiat stock market of my country's fiat.

RasicaOla12

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Bitcoin exchanged with others is considered as your income, meaning you have to pay income tax. Bitcoin earned through trade or bitcoin exchange is also considered a taxable benefit in personal income.

jack wira

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Ane rasa Pajak itu memang wajib berkembang nya sebuah negara apabila rakyatnya taat pajak

Incodium Coin

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l think it's necessary for holders to pay taxes on cryptocurrency. If we are considering coins to currency, then we have to pay taxes on it like we do on other assets. We still win in low transaction costs ...

cahbagus555

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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.

Paying taxes is obligation from every citizen in country and i think its fine if government collecting taxes from cryptocurrency transaction. If Government want to collect taxes, government should make regulation on cryptocurrency and if regulation issued, i am believe it will make crypto price rising

Sergio444

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Quote from: Emoclaw on July 15, 2017, 03:11:08 AM

If you sell Bitcoin for Fiat, then you have to pay taxes.
While Bitcoin is a currency, it is considered a commodity and therefore by selling it you're 'making money'.
It's illegal if you don't pay taxes.

So, must the one buying bitcoins also pay tax? Since the two are both trading in each way. Well, it is illegal to pay tax, but we live in a situation were cryptocurrency is purely said to be decentralized and anonymous. Why must I pay task for selling my coins to someone who wouldn't pay any tax for buying from me?

ngalamunan

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Quote from: Emoclaw on July 15, 2017, 03:11:08 AM

If you sell Bitcoin for Fiat, then you have to pay taxes.
While Bitcoin is a currency, it is considered a commodity and therefore by selling it you're 'making money'.
It's illegal if you don't pay taxes.

the tax will always be there for economic activities, because the tax will later enter into the state's money, so the tax plays an important role for us too.

Goroshik

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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.

Bitcoin is not a stock, it is currency. It is made to pay for goods and services as money. But it has one big advantage, it is anonymous.

RodeoX

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The revolution will be monetized!

Get right with the lord and the IRS:

https://www.investopedia.com/news/nsa-worked-track-down-bitcoin-users-snowden-papers-reveal/

elkafee79

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Quote from: Emoclaw on July 15, 2017, 03:11:08 AM

If you sell Bitcoin for Fiat, then you have to pay taxes.
While Bitcoin is a currency, it is considered a commodity and therefore by selling it you're 'making money'.
It's illegal if you don't pay taxes.

yes, i agree with your opinion. illegal if you dont pay taxes. will be make safe if we are pay taxes while sell bitcoin dor fiat.

Ca.ming14

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Without a doubt, 2018 will be a landmark year for Internal Revenue Service enforcement of cryptocurrency gains. Taxpayers should stay ahead of the game rather than be reactionary. The IRS is always more lenient with taxpayers who come forward on their own accord rather than those that get discovered. Coming forward now actually could be the difference between criminal penalties and simply paying interest. With only several hundred people reporting their crypto gains each year since bitcoin's launch, the IRS suspects that many crypto users have been evading taxes by not reporting crypto transactions on their tax returns. Unfortunately, the IRS has provided very little guidance with regard to bitcoin taxation. One thing, however, is clear: Although both the public and the crypto community refer to bitcoin and altcoins as virtual currencies, the IRS treats them as property for tax purposes. Therefore, selling, spending and even exchanging crypto for other tokens all likely have capital gain implications. Likewise, receiving it as compensation or by other means will be ordinary income.

Topic: Bitcoin vs Taxes - page 2. (Read 6963 times)