I'm not sure about that,the governments are going more towards taxation of bitcoin profits,at least in my country.
I think it's good thing actually.
Better to lose some profits and get bitcoin accepted and implemented than completely banning the whole thing.
Topic: Bitcoin Will Kill The Income Tax - page 26. (Read 29933 times)
For some reasons it will be yes and no.As long as the goverment will not put tax on bitcoin it will never kill it.But if people dobknow about this durely they will put tax on it.
Bitcoin will kill the tax and it is very new to the world so When it starts tokill the taxes and the Govt will likely to Ban Bitcoin. If Govt won't get any funds then they will surely ban in their Country.
Bitcoin will kill Income tax for sure. It is very difficult to impose tax on Bitcoin. What ever we earned with Bitcoin is not being business revenue so it is not possible to put tax on Bitcoin
It is difficult if the country doesn't have any law about bitcoin. But if they want it, they can just simply impose a taxation law on bitcoin where they can give people an obligation that they should pay their tax if they are into cryptocurrency business or career. But for now if there's no law then bitcoin is the one that makes people to choose their own path in able to lessen their obligation for tax.
Unfortunately, in my country you still have to pay taxes when you are cashing out your coins and also you cannot cash them all out you can only do in in a limit this way you have to pay a lot of taxes if you want to cash everything out.
That is, if you are going through the legal route. There are thousands of options out there to avoid taxes and it is up to you whether to use these methods or not. For example, you can order pre-paid Bitcoin debit cards from various service providers and withdraw fiat cash from the ATMs.
Bitcoin will kill Income tax for sure. It is very difficult to impose tax on Bitcoin. What ever we earned with Bitcoin is not being business revenue so it is not possible to put tax on Bitcoin
It is a really wrong concept ,how can bitcoin kill the income tax ,as long as you spend your coins or convert your bitcoin to fiat currency you are bound to pay your taxes,there is no need for you to file a tax when your assets are in bitcoin and that is a true statement,but you are bound to pay the tax once you convert them. 
Bitcoin will not lead to a lack of payment of taxes. If the authorities notice a decrease in the payment of taxes, they can simply ban bitcoin in the country or start controlling it.
But the problem is that it is just plain impossible to ban Bitcoins. You can ban the conversion of BTC to fiat (with a lot of difficulty). But in order to ban the possession of Bitcoins you need to ban the internet, which is not very practical. And even if the authorities ban the internet, there are a lot of loopholes in which the Bitcoin holders can take care of their coin stash.
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.
Yeah, not all people known bitcoin already, it will not going to happen that income tax will kill if there are still fiat. But it is also good for me to have a fiat because not all companies are accepting bitcoin in there company and use it in their business. So fiat is still useful and bitcoin will still remain as it is. Bitcoin is now a good currency and can be use by anyone already.For what is taking place now to our technology the local community in the entire globe are most typically used the banking system and some in some other nations they utilized fiat. The place people two are centralized and we know that. So I guess if occasions appear that bitcoin will turn into the currency of all nations around the world the taxes or revenue tax will completely disappear.
Since you are a new member of this forum I will spare you with just a lesson about taxes and why you are wrong. Even if what you are expecting that Bitcoin will be a dominant currency in the world it by no means will eliminate the income tax as Bitcoin earnings itself is still taxable in income tax and if you earn your Bitcoin through trading it will be taxable with a capital gains tax. Any person who thought you that Bitcoin earnings are not taxable are people who are just avoiding in paying their taxes.
For what is taking place now to our technology the local community in the entire globe are most typically used the banking system and some in some other nations they utilized fiat. The place people two are centralized and we know that. So I guess if occasions appear that bitcoin will turn into the currency of all nations around the world the taxes or revenue tax will completely disappear.
Unfortunately, in my country you still have to pay taxes when you are cashing out your coins and also you cannot cash them all out you can only do in in a limit this way you have to pay a lot of taxes if you want to cash everything out.
That is, if you are going through the legal route. There are thousands of options out there to avoid taxes and it is up to you whether to use these methods or not. For example, you can order pre-paid Bitcoin debit cards from various service providers and withdraw fiat cash from the ATMs.
Bitcoin will not lead to a lack of payment of taxes. If the authorities notice a decrease in the payment of taxes, they can simply ban bitcoin in the country or start controlling it.
bitcoin will not kill anything, but the folks who discovered from bitcion and chains will make tons factors, it will kills items!
now still banyal people who use fiat system and banking they know bitcoin and crypto currency to overcome them.
Bitcoin will possibly kill income tax but not all the kinds of tax, there's still Value added tax that was imposed to goods we purchased but it is a big help for majority of people having no income tax imposed in our bitcoin earnings we don't have to worry losing so much due to tax and when bitcoin value drops. I hope the government will not do something to impost tax in our earnings.
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.
Yeah, not all people known bitcoin already, it will not going to happen that income tax will kill if there are still fiat. But it is also good for me to have a fiat because not all companies are accepting bitcoin in there company and use it in their business. So fiat is still useful and bitcoin will still remain as it is. Bitcoin is now a good currency and can be use by anyone already.
Bitcoin will kill Income tax for sure. It is very difficult to impose tax on Bitcoin. What ever we earned with Bitcoin is not being business revenue so it is not possible to put tax on Bitcoin
Bitcoin will kill Income tax because it is not controlled by the government. Now who are working with Bitcoin not paying any income tax.
Still long way to run to get tax on Bitcoin.
Still long way to run to get tax on Bitcoin.
I do not think bitcoin will kill the income tax as long as there are companies that have employees.
Income tax will not be imposed on a person working full time in bitcoin.
In the past there are history that clearly describe how people used it as an store of value and get rid of taxation. Now this has changed a lot due to the regulated usage and restrictions in limitations if usage. So killing of income tax is possible, but now this has decreased drastically. Income tax will not be imposed on a person working full time in bitcoin.
I do not think bitcoin will kill the income tax as long as there are companies that have employees.
Income tax will not be imposed on a person working full time in bitcoin.
Income tax will not be imposed on a person working full time in bitcoin.
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