Topic: Bitcoin vs Taxes - page 4. (Read 6965 times)
Im not against the taxes, but at some places those reach 15-30% from your capital, soo a lot people had put their money at risk and now they will loose money to the state wich is just waiting for us to exchange into fiat, thats why i do believe into the next years people will start dealing with bitcoin directly, signing a message or making a smart contract over ethereum related to the sale, soo the country will get nothing because they always wanna more money.
If you sell Bitcoin for Fiat, then you have to pay taxes. While Bitcoin is a currency, it is considered a commodity and by selling it you're 'making money'. It is still illegal if you don't pay your taxes right
it is ok for me to pay taxes in buying bitcoin..maybe it is a help also to tge government as we are enjoying its benefits.
when bitcoin start the main goal it to be away from government control so that No one will pay for government to get bitcoins.
government collect a lot of money from poor by applying tax
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.
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 may find this article interesting friend
https://turbotax.intuit.com/tax-tips/tax-payments/tax-tips-for-bitcoin-and-virtual-currency/L1ZOgU00q
In my country, bitcoin is not accepted as a payment method. Bitcoin has been banned and it is not legal. For countries that accept bitcoin, when you use it, you must pay taxes because bitcoin is considered a commodity. I think it's a good thing for people using bitcoins in countries that do not accept bitcoins because they do not pay taxes.
I think it would be a pretty positive thing if bitcoin is in taxes. there will probably be many people who protest if bitcoin is taxable, because the transaction will be a bit more expensive. however, look on the bright side if the government imposes a tax on bitcoin, meaning that bitcoin is already protected by the government and is increasingly safe and comfortable for its users.
When it comes to taxes, the Internal Revenue Service has ruled that bitcoins and other "convertible virtual currencies" are "treated as property" and not treated as currency.
Well, that’s true, Bitcoin should be treated as a property. I don’t even see it as a Currency, and it will never be, it’s just something that we can invest our currency into just for us to make extra money. Taxing Bitcoin won’t really be easy for the government, but if they manage to do so, then it will lead to the destruction and end of bitcoin. Think of it, nobody would like to be paying tax for bitcoin, just ordinary transaction fees were implemented and people felt like killing themselves, talk more of adding taxes to it lol.
i totally disagree with it. property is something that you own ( i.e land , or house ) and bitcoin is a currency because it has a stored value that can be used on buying and selling or any other things. taxing on bitcoin is not really possible because as of now bitcoin is still decentralized , that means no one holds or regulate it but if bitcoin will become centralized and governmnents and banks will be able to manage it then i believe it could still have a good effects and advantage because bitcoin will become more open to the public and we can now use it whenver or wherever we want. tax will also have an effect to the big earners of bitcoin like whales or exchanges and not on small earners like us.
it is ok for me to pay taxes in buying bitcoin..maybe it is a help also to tge government as we are enjoying its benefits.
It is enough to pay a small commission of 3-5% and you can withdraw your bitcoins into fiat money.
It is a right thing to hire people who want to own a bitcoin because it will be a huge tax on national development.
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 depends on the ruling of your country, any object can be tax whatever form, bitcoins on the other hand can be taxed as you exchange it to your local currency or the gains from the change of its value depending on the ruling.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.
Good thing we don't have tax in using bitcoins yet here.
There are people who have been earning good through bitcoin as well other cryptocurrencies. More people too were cashing out their earnings often. This has lead for the taxation of bitcoin, in specific taxes were getting into implementation around different countries based on the regulatory laws followed.
It is really be a challenging part of the government if they want to imposed tax to all bitcoin holders, not only because of anonymity identity but also of some person that never tell the total amount they hold. And i believe that this taxation plan won't succeed is just because a lot of people will opposed to this and maybe it could just create a misunderstanding with the authorities and it can lead from banning cryptocurrency.
This is the uniqueness of Bitcoin, we do not have to deal with the government, we do not need to pay taxes, no transaction restrictions, no limit on the amount of money for transactions, no personal information such as name, age, and residence, Bitcoin is a true solution of freedom. But we need to know that, the country has enormous resources to take advantage of Bitcoin. If the state wants, they can find ways to monitor and control Bitcoin. Maybe the country will not be taxed from people who use Bitcoin, but actually the country can still use Bitcoin for profit if the country is willing to learn Bitcoin.
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 depends on the ruling of your country, any object can be tax whatever form, bitcoins on the other hand can be taxed as you exchange it to your local currency or the gains from the change of its value depending on the ruling.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.
Good thing we don't have tax in using bitcoins yet here.
It is really be a challenging part of the government if they want to imposed tax to all bitcoin holders, not only because of anonymity identity but also of some person that never tell the total amount they hold. And i believe that this taxation plan won't succeed is just because a lot of people will opposed to this and maybe it could just create a misunderstanding with the authorities and it can lead from banning cryptocurrency.
When it comes to taxes, the Internal Revenue Service has ruled that bitcoins and other "convertible virtual currencies" are "treated as property" and not treated as currency.
Well, that’s true, Bitcoin should be treated as a property. I don’t even see it as a Currency, and it will never be, it’s just something that we can invest our currency into just for us to make extra money. Taxing Bitcoin won’t really be easy for the government, but if they manage to do so, then it will lead to the destruction and end of bitcoin. Think of it, nobody would like to be paying tax for bitcoin, just ordinary transaction fees were implemented and people felt like killing themselves, talk more of adding taxes to it lol.
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.
for me Mate,theres no problem to be collected by tax,because i 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.
believe that the government has the rights to collect tax from every people
who earn,thats why some of the businesses called ILLEGAL because they
paid now taxes and continue to earn.
And its our obligation too being people of every government to pay
taxes when we make a profit so its fair in both parties.
When it comes to taxes, the Internal Revenue Service has ruled that bitcoins and other "convertible virtual currencies" are "treated as property" and not treated as currency.
Well, that’s true, Bitcoin should be treated as a property. I don’t even see it as a Currency, and it will never be, it’s just something that we can invest our currency into just for us to make extra money. Taxing Bitcoin won’t really be easy for the government, but if they manage to do so, then it will lead to the destruction and end of bitcoin. Think of it, nobody would like to be paying tax for bitcoin, just ordinary transaction fees were implemented and people felt like killing themselves, talk more of adding taxes to it lol.
When it comes to taxes, the Internal Revenue Service has ruled that bitcoins and other "convertible virtual currencies" are "treated as property" and not treated as currency.
Well, that’s true, Bitcoin should be treated as a property. I don’t even see it as a Currency, and it will never be, it’s just something that we can invest our currency into just for us to make extra money. Taxing Bitcoin won’t really be easy for the government, but if they manage to do so, then it will lead to the destruction and end of bitcoin. Think of it, nobody would like to be paying tax for bitcoin, just ordinary transaction fees were implemented and people felt like killing themselves, talk more of adding taxes to it lol.
I can imagine what it would be like when taxed in some places, you had be surprised people moving from more taxed regions to less tax regions, and probably what we even want.
In order for people to pay taxes honestly they need to trust their government, love their country and to see for what purpose our money is spent. Now this is not why people don't want to pay taxes with bitcoins, not Fiat. The problem is not in currency, but in the mind.
Those individuals are effective in a future since they are doing awesome things for government so they can be more fruitful so what would we be able to state that we should pay duties to government by giving charges God can be upbeat as well and government will be run as well. So we can state that we should need to pay our experts in our nation. Jump to: