Bitcoin Will Kill The Income Tax - page 38.

agamasrori

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Quote from: bitcoinblog on February 10, 2017, 12:14:29 PM

Taxes are running a nation , otherwise how a nation will run ? Roads , Hospitals .. Bcoz not every nation accepted Privatization. And even if Privatization is accepted in whole world .. Then why we need a Government ?

Government means someone having Authority to deal with things on citizens behalf , When citizens will not pay Tax then why do someone show there interest in taking that responsibility. That is the first drawback in corruption inside Politicians. Due to privatization .. Almost all Elections are funded by these Private Firms and in return they got Permissions which normal businessman can not get.

I think to run a proper nation , Taxes are required.

I agree for some countries that have no profitable state owned enterprises, taxes are required. I think the government can take taxes from sellers who accept bitcoin, by monitoring business.

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Quote from: wxa7115 on February 10, 2017, 11:42:53 AM

Quote from: Blawpaw on February 06, 2017, 06:25:48 AM

I don't think so... Governments are vigilant with all this industry, so I don't believe this will go on much further. They will certainly find a way of taxing Bitcoin and all the other cryptos

It does not matter if the government is vigilant or not, there is no way to taxing you directly in bitcoin unless they change the code of bitcoin and the miners accept he change, which is not going to happen and if for some reason it happen we will just move to another coin that does not

The tax system doesn't work this way (as you seem to mean it)

They still can adopt a law according to which every transaction can be taxed (say, you will have to pay 1% of the transacted amount). Will it count as directly taxing Bitcoin? I guess that certainly will as long as they have tools (and they do have such tools) which allow them to catch you and make you pay this tax or put you in jail if you disagree. If you still disagree, think about, for example, an income tax. If someone has successfully evaded this tax in the past (and continues to evade), does it mean that income earned is not taxed directly?

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Quote from: nelson4lov on February 08, 2017, 04:29:18 PM

Quote from: Creepings on February 08, 2017, 03:58:55 PM

Quote from: BlackPanda on February 08, 2017, 10:20:45 AM

Quote from: Creepings on February 07, 2017, 04:48:27 PM

Well this topic is somewhat the same with the other topic that is about ruining a country because of tax. But the thing is, no government will allow to circulate a currency without finding a way to get some taxes in that transactions. Tax based from the other topic is the flowing blood of a country, without it will be a cold and dead body. That's why government will have a long and hard talk about this currency. In the meantime its flaws must be put down.

the state will certainly difficult to earn. The main income of a country is a tax. of course this will be a big problem because bitcoin is currently able to circulate freely without the collection of taxes from local governments. will be a lot of opposition from the country's leaders, this is reasonable because they wanted a peaceful country dann also prosperous.

Well, the truth is, there are taxes from the transactions of bitcoins though we are not feeling it. Though I am thinking that maybe they can do ways to make bitcoin a currency in their country, it is really efficient and it is really not hard to obtain. It can be accepted wholely by a country as secondary currency of that country. It is hard to make bitcoin currency of a country because it has many many transactions that we don't know, if they want to make it a currency, they must monitor these transactions.

That's what the government wants. Always want to be in control and having full knowledge of Citizen's activities which is not something Bitcoin supports. Bitcoin provides Fast & Swift Payment while ensuring that Privacy is maintained. So If any government in any country intends to make Bitcoin an official currency, Then They'll want to monitor our transactions and I don't see such happening with bitcoin, Not anytime soon.

One way or the other, Bitcoin and tax wouldn't work together

om fact bitcoin is not going to kill the income tax. but government is doing so. why they do not want to recognize bitcoin as legal currency. if they will accept bitcoin i think then they will certainly collect good amount of income tax from bitcoin. but first they need to consider bitcoin as legal currency.

bitcoinblog

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Taxes are running a nation , otherwise how a nation will run ? Roads , Hospitals .. Bcoz not every nation accepted Privatization. And even if Privatization is accepted in whole world .. Then why we need a Government ?

Government means someone having Authority to deal with things on citizens behalf , When citizens will not pay Tax then why do someone show there interest in taking that responsibility. That is the first drawback in corruption inside Politicians. Due to privatization .. Almost all Elections are funded by these Private Firms and in return they got Permissions which normal businessman can not get.

I think to run a proper nation , Taxes are required.

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Quote from: Blawpaw on February 06, 2017, 06:25:48 AM

I don't think so... Governments are vigilant with all this industry, so I don't believe this will go on much further. They will certainly find a way of taxing Bitcoin and all the other cryptos

It does not matter if the government is vigilant or not, there is no way to taxing you directly in bitcoin unless they change the code of bitcoin and the miners accept the change, which is not going to happen and if for some reason it happen we will just move to another coin that does not.

Marma Kalari

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Quote from: Pattart on February 07, 2017, 02:32:18 AM

Quote from: Blawpaw on February 06, 2017, 06:25:48 AM

I don't think so... Governments are vigilant with all this industry, so I don't believe this will go on much further. They will certainly find a way of taxing Bitcoin and all the other cryptos

I agree with you, for the moment it is very difficult to find a way how to give taxes to the bitcoin users, but I'm sure in the future. there will be a way to provide a tax on bitcoin, because the government will surely look for it

Even now we have to pay our taxes once we convert our bitcoin to fiat ,you can have your assets and once you want to liquidize your asset to your concerning local currency you have to pay your taxes ,taxing people when you hold bitcoin is not a realistic option.

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Quote from: Creepings on February 08, 2017, 03:58:55 PM

Quote from: BlackPanda on February 08, 2017, 10:20:45 AM

Quote from: Creepings on February 07, 2017, 04:48:27 PM

Well this topic is somewhat the same with the other topic that is about ruining a country because of tax. But the thing is, no government will allow to circulate a currency without finding a way to get some taxes in that transactions. Tax based from the other topic is the flowing blood of a country, without it will be a cold and dead body. That's why government will have a long and hard talk about this currency. In the meantime its flaws must be put down.

the state will certainly difficult to earn. The main income of a country is a tax. of course this will be a big problem because bitcoin is currently able to circulate freely without the collection of taxes from local governments. will be a lot of opposition from the country's leaders, this is reasonable because they wanted a peaceful country dann also prosperous.

Well, the truth is, there are taxes from the transactions of bitcoins though we are not feeling it. Though I am thinking that maybe they can do ways to make bitcoin a currency in their country, it is really efficient and it is really not hard to obtain. It can be accepted wholely by a country as secondary currency of that country. It is hard to make bitcoin currency of a country because it has many many transactions that we don't know, if they want to make it a currency, they must monitor these transactions.

That's what the government wants. Always want to be in control and having full knowledge of Citizen's activities which is not something Bitcoin supports. Bitcoin provides Fast & Swift Payment while ensuring that Privacy is maintained. So If any government in any country intends to make Bitcoin an official currency, Then They'll want to monitor our transactions and I don't see such happening with bitcoin, Not anytime soon.

One way or the other, Bitcoin and tax wouldn't work together

Creepings

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Quote from: BlackPanda on February 08, 2017, 10:20:45 AM

Quote from: Creepings on February 07, 2017, 04:48:27 PM

Well this topic is somewhat the same with the other topic that is about ruining a country because of tax. But the thing is, no government will allow to circulate a currency without finding a way to get some taxes in that transactions. Tax based from the other topic is the flowing blood of a country, without it will be a cold and dead body. That's why government will have a long and hard talk about this currency. In the meantime its flaws must be put down.

the state will certainly difficult to earn. The main income of a country is a tax. of course this will be a big problem because bitcoin is currently able to circulate freely without the collection of taxes from local governments. will be a lot of opposition from the country's leaders, this is reasonable because they wanted a peaceful country dann also prosperous.

Well, the truth is, there are taxes from the transactions of bitcoins though we are not feeling it. Though I am thinking that maybe they can do ways to make bitcoin a currency in their country, it is really efficient and it is really not hard to obtain. It can be accepted wholely by a country as secondary currency of that country. It is hard to make bitcoin currency of a country because it has many many transactions that we don't know, if they want to make it a currency, they must monitor these transactions.

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Quote from: Qunenin on February 08, 2017, 10:10:03 AM

Quote from: wahb on February 06, 2017, 03:32:24 PM

Quote from: ?? on ??

The possibility of BTCitcoin to kill income tax is maybe one of the reasons why some countries banned it. The government has no control over BTCitcoin so if ever it will be more well known, many people will prefer for it to be their currency or mode of payment because it is more convenient to use and with lesser transaction fees. There is really a possibility that bitcoin might kill the income tax in the coming future.

but i think bitcoin is only killing the income tax because it is not a regularize currency, when government will consider bitcoin as legal currency then will certainly put tax on it and will really collect a good income tax from the income of bitcoin.

Yes, exactly, government do not recognize the bitcoin so the country itself do have an access to have income thru the transaction made by every users. And yes, once the government implemented bitcoin as real currency then it will be given a tax per transaction made.

Also when bitcoin is legally accepted too its hard to tax the users based upon the transaction made, because when bitcoin is used for transaction purpose the transaction volume can be calculated only if the bitcoin is converted to fiat with banking support. If people starts using it directly for their needs then taxation will not be effective as identity is always a hidden factor with bitcoin.

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Quote from: Creepings on February 07, 2017, 04:48:27 PM

Well this topic is somewhat the same with the other topic that is about ruining a country because of tax. But the thing is, no government will allow to circulate a currency without finding a way to get some taxes in that transactions. Tax based from the other topic is the flowing blood of a country, without it will be a cold and dead body. That's why government will have a long and hard talk about this currency. In the meantime its flaws must be put down.

the state will certainly difficult to earn. The main income of a country is a tax. of course this will be a big problem because bitcoin is currently able to circulate freely without the collection of taxes from local governments. will be a lot of opposition from the country's leaders, this is reasonable because they wanted a peaceful country dann also prosperous.

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Quote from: wahb on February 06, 2017, 03:32:24 PM

Quote from: ?? on ??

The possibility of BTCitcoin to kill income tax is maybe one of the reasons why some countries banned it. The government has no control over BTCitcoin so if ever it will be more well known, many people will prefer for it to be their currency or mode of payment because it is more convenient to use and with lesser transaction fees. There is really a possibility that bitcoin might kill the income tax in the coming future.

but i think bitcoin is only killing the income tax because it is not a regularize currency, when government will consider bitcoin as legal currency then will certainly put tax on it and will really collect a good income tax from the income of bitcoin.

Yes, exactly, government do not recognize the bitcoin so the country itself do have an access to have income thru the transaction made by every users. And yes, once the government implemented bitcoin as real currency then it will be given a tax per transaction made.

Creepings

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Well this topic is somewhat the same with the other topic that is about ruining a country because of tax. But the thing is, no government will allow to circulate a currency without finding a way to get some taxes in that transactions. Tax based from the other topic is the flowing blood of a country, without it will be a cold and dead body. That's why government will have a long and hard talk about this currency. In the meantime its flaws must be put down.

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Quote from: wintermeasures on February 07, 2017, 04:18:00 AM

Quote from: Paleus on December 06, 2016, 05:18:24 PM

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

According to Me its not Possible If People Work For Bitcoin and Sell Their Bitcoin for Cash Because If they Convert their Bitcoins into Cash then they Need to Pay the Tax.....
But its Not Possible if they Work for Bitcoin and Use Bitcoin for paying others......

I think that only applies on people who are using direct methods to convert their bitcoin into cash they have to pay exchange fees, but if you are smart and use other methods like selling your bitcoin in local bitcoins or find someone on this forum who is willing to buy bitcoin you don’t, you only pay if uses like bitcoin debit cards.

wintermeasures

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Quote from: Paleus on December 06, 2016, 05:18:24 PM

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

According to Me its not Possible If People Work For Bitcoin and Sell Their Bitcoin for Cash Because If they Convert their Bitcoins into Cash then they Need to Pay the Tax.....
But its Not Possible if they Work for Bitcoin and Use Bitcoin for paying others......

deppil

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Quote from: wahb on February 06, 2017, 03:32:24 PM

Quote from: ?? on ??

The possibility of BTCitcoin to kill income tax is maybe one of the reasons why some countries banned it. The government has no control over BTCitcoin so if ever it will be more well known, many people will prefer for it to be their currency or mode of payment because it is more convenient to use and with lesser transaction fees. There is really a possibility that bitcoin might kill the income tax in the coming future.

but i think bitcoin is only killing the income tax because it is not a regularize currency, when government will consider bitcoin as legal currency then will certainly put tax on it and will really collect a good income tax from the income of bitcoin.

because there is currently no way to provide a tax on bitcoin users. so it seems for the moment bitcoin is a killer for income taxes to the government

Senor.Bla

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Quote from: zuyfg888 on February 07, 2017, 02:22:06 AM

Quote from: Senor.Bla on February 07, 2017, 02:11:09 AM

Quote from: deisik on February 06, 2017, 02:50:52 AM

Quote from: Senor.Bla on February 05, 2017, 03:39:05 PM

Quote from: deisik on February 05, 2017, 03:08:22 PM

If you don't know something, it doesn't mean that it doesn't exist. I can give you a link to an official letter of the tax agency of my country where they unambiguously declare that they have nothing to do with Bitcoin altogether since it is neither legally accepted nor regulated (though they don't say that it is illegal, either). What else do you need as a proof? What weak theories are you bumbling about if this is reality which I basically live in? Effectively, the government openly states that it is not to be held responsible if people lose their money with Bitcoin...

And why are you now desperately trying to talk this question away given that it was you who raised it in the first place, wtf?

I did not raise any questions, so i have nothing to talk away. Unless you can prove that nobody (whether it is a nurse, a clerk, a businessman or any employee of some kind) in your or any other country has to pay income taxes, i have nothing to add.

What are really talking about? It is not me who should first prove that Bitcoin is going to kill any (income) taxes. If someone has to prove anything here it is you who should first show how that could ever happen at all in the first place. Or do you actually come to think if I'm not going to prove that bullshit, your point will become any more valid? Nevertheless, here is the list of countries which have no income tax. Obviously, Bitcoin has nothing to do with that...

And then you talk about "weak theories"

This might be redundant, but i say it one more time. Show me where i had a question, because i only made statements. My core statement was that no country will kill their INCOME TAX because of Bitcoin. I do not think i have to prove my point, since you linked a list with 10 countries that have no income tax and admitted that this has nothing to do with Bitcoin.

Maybe, they are only want to remove tax. Deductions from your earnings or income tax are truly making a pain with us. If only we can take our earning with full amount, all of us can be happy. If these tax will remove, our mind set is will be happy, but we cannot see what will be our future if there is no tax.

How well the government spends the money they get from taxes is disputable, but without taxes nobody would at first built and maintain roads and keep the fire department running. I am sure you would not be happy without them. And if you are not using this services, then you use surly different services that our taxes pay for. Surly other people could provide these services, but they would not do it for free, so you would not have all your earning to spend freely. Right now i see no better and working solution.

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Quote from: Blawpaw on February 06, 2017, 06:25:48 AM

I don't think so... Governments are vigilant with all this industry, so I don't believe this will go on much further. They will certainly find a way of taxing Bitcoin and all the other cryptos

I agree with you, for the moment it is very difficult to find a way how to give taxes to the bitcoin users, but I'm sure in the future. there will be a way to provide a tax on bitcoin, because the government will surely look for it

deisik

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Quote from: Senor.Bla on February 07, 2017, 02:11:09 AM

Quote from: deisik on February 06, 2017, 02:50:52 AM

Quote from: Senor.Bla on February 05, 2017, 03:39:05 PM

Quote from: deisik on February 05, 2017, 03:08:22 PM

If you don't know something, it doesn't mean that it doesn't exist. I can give you a link to an official letter of the tax agency of my country where they unambiguously declare that they have nothing to do with Bitcoin altogether since it is neither legally accepted nor regulated (though they don't say that it is illegal, either). What else do you need as a proof? What weak theories are you bumbling about if this is reality which I basically live in? Effectively, the government openly states that it is not to be held responsible if people lose their money with Bitcoin...

And why are you now desperately trying to talk this question away given that it was you who raised it in the first place, wtf?

I did not raise any questions, so i have nothing to talk away. Unless you can prove that nobody (whether it is a nurse, a clerk, a businessman or any employee of some kind) in your or any other country has to pay income taxes, i have nothing to add.

What are really talking about? It is not me who should first prove that Bitcoin is going to kill any (income) taxes. If someone has to prove anything here it is you who should first show how that could ever happen at all in the first place. Or do you actually come to think if I'm not going to prove that bullshit, your point will become any more valid? Nevertheless, here is the list of countries which have no income tax. Obviously, Bitcoin has nothing to do with that...

And then you talk about "weak theories"

This might be redundant, but i say it one more time. Show me where i had a question, because i only made statements. My core statement was that no country will kill their INCOME TAX because of Bitcoin. I do not think i have to prove my point, since you linked a list with 10 countries that have no income tax and admitted that this has nothing to do with Bitcoin

You may substitute question with matter or issue or issue in question (after all, with statement)

Look, at first you claimed that if Bitcoin might help us not pay income tax, that would be only our opinion ("if you think Bitcoin might help you to not pay it, then this is your opinion"). Then I tell you that some governments are in fact trying to completely stay away from regulating Bitcoin in any conceivable way (and that includes outright banning it) as if it didn't exist at all. This basically means that they don't care if you pay taxes with it or not (though it seems that they wouldn't quite like it if you did), and they are not going to require you to pay these taxes since otherwise that would imply approving Bitcoin use. This is reality, not someone's opinion (at least, in certain areas). You shouldn't prove anything, you should just accept what is there for real

zuyfg888

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Quote from: Senor.Bla on February 07, 2017, 02:11:09 AM

Quote from: deisik on February 06, 2017, 02:50:52 AM

Quote from: Senor.Bla on February 05, 2017, 03:39:05 PM

Quote from: deisik on February 05, 2017, 03:08:22 PM

If you don't know something, it doesn't mean that it doesn't exist. I can give you a link to an official letter of the tax agency of my country where they unambiguously declare that they have nothing to do with Bitcoin altogether since it is neither legally accepted nor regulated (though they don't say that it is illegal, either). What else do you need as a proof? What weak theories are you bumbling about if this is reality which I basically live in? Effectively, the government openly states that it is not to be held responsible if people lose their money with Bitcoin...

And why are you now desperately trying to talk this question away given that it was you who raised it in the first place, wtf?

I did not raise any questions, so i have nothing to talk away. Unless you can prove that nobody (whether it is a nurse, a clerk, a businessman or any employee of some kind) in your or any other country has to pay income taxes, i have nothing to add.

What are really talking about? It is not me who should first prove that Bitcoin is going to kill any (income) taxes. If someone has to prove anything here it is you who should first show how that could ever happen at all in the first place. Or do you actually come to think if I'm not going to prove that bullshit, your point will become any more valid? Nevertheless, here is the list of countries which have no income tax. Obviously, Bitcoin has nothing to do with that...

And then you talk about "weak theories"

This might be redundant, but i say it one more time. Show me where i had a question, because i only made statements. My core statement was that no country will kill their INCOME TAX because of Bitcoin. I do not think i have to prove my point, since you linked a list with 10 countries that have no income tax and admitted that this has nothing to do with Bitcoin.

Maybe, they are only want to remove tax. Deductions from your earnings or income tax are truly making a pain with us. If only we can take our earning with full amount, all of us can be happy. If these tax will remove, our mind set is will be happy, but we cannot see what will be our future if there is no tax.

Senor.Bla

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Quote from: deisik on February 06, 2017, 02:50:52 AM

Quote from: Senor.Bla on February 05, 2017, 03:39:05 PM

Quote from: deisik on February 05, 2017, 03:08:22 PM

If you don't know something, it doesn't mean that it doesn't exist. I can give you a link to an official letter of the tax agency of my country where they unambiguously declare that they have nothing to do with Bitcoin altogether since it is neither legally accepted nor regulated (though they don't say that it is illegal, either). What else do you need as a proof? What weak theories are you bumbling about if this is reality which I basically live in? Effectively, the government openly states that it is not to be held responsible if people lose their money with Bitcoin...

And why are you now desperately trying to talk this question away given that it was you who raised it in the first place, wtf?

I did not raise any questions, so i have nothing to talk away. Unless you can prove that nobody (whether it is a nurse, a clerk, a businessman or any employee of some kind) in your or any other country has to pay income taxes, i have nothing to add.

What are really talking about? It is not me who should first prove that Bitcoin is going to kill any (income) taxes. If someone has to prove anything here it is you who should first show how that could ever happen at all in the first place. Or do you actually come to think if I'm not going to prove that bullshit, your point will become any more valid? Nevertheless, here is the list of countries which have no income tax. Obviously, Bitcoin has nothing to do with that...

And then you talk about "weak theories"

This might be redundant, but i say it one more time. Show me where i had a question, because i only made statements. My core statement was that no country will kill their INCOME TAX because of Bitcoin. I do not think i have to prove my point, since you linked a list with 10 countries that have no income tax and admitted that this has nothing to do with Bitcoin.

Topic: Bitcoin Will Kill The Income Tax - page 38. (Read 29945 times)