Topic: Bitcoin Will Kill The Income Tax - page 10. (Read 29943 times)
That is the one of other reason why goverment affraid to bitcoin. just imagine when every country in earth have accept bitcoin and every merchant and shop accept bitcoin. once people turn all his money to bitcoin all taxes will hard to record and bank will be useless. and when a person want to disappear. he can disapear easily. can move to other country easily with out convert his money
Not really its up to the government how they regulate the btc so it can be taxed. The government can do it in the payment. they can ax the tax in their.
In my country they do that, the bank deducted the tax when you withdraw your money which come from cryptocurrency.
For me it is okay to be taxed than to be banned.
In my country they do that, the bank deducted the tax when you withdraw your money which come from cryptocurrency.
For me it is okay to be taxed than to be banned.
Thats hard to happen nowadays. Most people worldwide still using fiat and banking systems and few number of them know about Bitcoin and crypto currencies and deal with it. So may be Bitcoin will kill the income tax if it will become the first used currency worldwide, but that's not yet the case.
Those people who use banking system does not really know about cryptocurrency or maybe, there are also black propaganda about bitcoins in their country to less the investors of bitcoins but if they know the truth then probably they will really invest on cryptocurrency as well.
I think I would never kill income tax or other government services if the government authorizes bitcoin for their affairs and provides different facilities for bitcoin use in the state, especially countries need to start their own wallets so they will run their duties for bitcoin currencies and they should let the bank use bitcoin.
Yes, there are high chances that it will kill the income tax. It is because when buying and paying is done through bitcoin, there is no need to enter the bank details etc. So, yeah, bitcoin has the potential of killing income tax in the future. 
Well, in the short run taxes are going to increase due to the fact that governments try to overcome the deficit caused by lack of being able to print valuable money.
I would like to rad the articel but : error 404.
Anybody can repost from somewhere else?
cheers
Anybody can repost from somewhere else?
cheers
No, If the government is makes a regulation about of bitcoin to get the income tax
it can partnership with an exchanges to get the income tax in the country income.
it can partnership with an exchanges to get the income tax in the country income.
As the age of cryptocurrency comes into full force, it will facilitate a subversively viable taxation avoidance strategy for many of the technically savvy users of peer-to-peer payment systems. In doing so, cryptocurrency use will act to erode the tax revenue base of national jurisdictions, and ultimately, reposition taxation as a voluntary, pay-for-performance function. In this post, I cover some of the benefits such a strategy will have for cryptocurrency investors, why our notion of taxation is ripe for disruption, and why cryptocurrency taxation is enabled by default.
Read The Full Article
Read The Full Article
i think when all people are using Bitcoin and focus to it and don't want to work in any job anymore you were right if this happened. since the world change by technology maybe Bitcoin can only change that income tax Not kill or Bitcoin can be taxable now if government notice that they don't have any worker available because they are all here in Bitcoin.
they see that there are good opportunity in bitcoin so they will resign from their stable job but still there are people who have not yet believe in bitcoin.
the government is not really concerned about the tax as the percentage of transactions is still small! when everywhere will accept payments in bitcoins, then it will reflect. it is still early!
Yes it will kill income tax and in my opinion, this is the biggest reason why many governments are against it. But I think if they become to BTC , they sand to gain more than loose. But again the founder(s) of BTC is not known and a possible crash could mean a countries investment going down the drain.
There is no circulation of Bitcoin in many countries yet, for which. For which many problems will be lost. I hope this problem should be a solution.
well im sure its doing some dmg to the goverments and stuff but im SURE 100% that if its gonna keep like that and making countrys lose money they will do something immidietly they aint gonna stay there with crossed hands. im sure they are gonna ask for taxes and try to control them.
As the age of cryptocurrency comes into full force, it will facilitate a subversively viable taxation avoidance strategy for many of the technically savvy users of peer-to-peer payment systems. In doing so, cryptocurrency use will act to erode the tax revenue base of national jurisdictions, and ultimately, reposition taxation as a voluntary, pay-for-performance function. In this post, I cover some of the benefits such a strategy will have for cryptocurrency investors, why our notion of taxation is ripe for disruption, and why cryptocurrency taxation is enabled by default.
Read The Full Article
Read The Full Article
i think when all people are using Bitcoin and focus to it and don't want to work in any job anymore you were right if this happened. since the world change by technology maybe Bitcoin can only change that income tax Not kill or Bitcoin can be taxable now if government notice that they don't have any worker available because they are all here in Bitcoin.
I think it will be conducive to the development of the currency, if so, did not pay income tax, countries will not tax income, the government is not good, don't support the development of the currency, without the support of country, the development of the currency becomes more difficult
no. tax does not help the development of a currency. only people that supports the developer or a project of the developer is the one that matters the most. tax only helps the government to be more powerfull and become more greedy because government are known to be corrupt and the taxes that it gets from the people are not actually use on the right way on which it must be used to improve the economy of country.
I think it will be conducive to the development of the currency, if so, did not pay income tax, countries will not tax income, the government is not good, don't support the development of the currency, without the support of country, the development of the currency becomes more difficult
We really need decentralized exchanges and atomic swaps and segwit lightning network. This will put all the power back in the common peoples hands. Then people need to start demanding to purchase everyday items with crypto. What we are seeing is regulators and governments seeing what is coming down the pipe line and they shitting themselves in a scramble to maintain power. "Give me control of a Nation's money supply, and I care not who makes its laws." Rothschilds
They want to keep us in chains!
They want to keep us in chains!
But if the government implements a sort of VAT on Bitcoin transactions (for services and products offered by businesses) I think everyone can benefit
It is not possible the Bitcoin will totally kill the Income tax. As Bitcoin arises nor known Income tax will remain as it is a part of governments strategy to keep funds for plans.
Bitcoin will never kill the incometax. Because worldwide almost people using banking and legal currency's. Only small amount of people only know about Bitcoin. It is doesn't a matter it won't kill the income tax. Bitcoin is not accepting in all shops also. It is not a big issue for government.
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