Topic: Businesses accepting crypto to pay heavily (Read 163 times)
Taxing means they are accepting and trying to place regulations. So that definitely can be a good thing. We'll see when the system develops more. I'm glad more business are starting ot use crypto as a means to pay. I believe a lot of people would rather get paid in crypto than fiat money.
Bitcoin is first digital money with a steady value that vacillate however decently. Also, utilizing bitcoins in genuine economy bolsters this thought in particular. Israel Tax Authority (ITA) Businesses are tolerating bitcoin in Isreal yet the duty installment is the thing that will frustrate a few people from tolerating bitcoin.
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Well it's tax. It's not like the government is extorting money or something. The way I see it, this is good since taxing means there is a regulation behind it, and regulation means that cryptocurrencies are legal, which is the first step towards mass acceptance, something which we need very much.
Bitcoin considered Property in Israel – businesses accepting crypto to pay heavily
The Israel Tax Authority (ITA) recently announced that Bitcoins and cryptocurrencies, in general, would be treated and taxed as property and not as an asset. On February 19th, the ITA through a professional circular declared, “Bitcoin is an asset and not a currency.”
Read Full Story Here - https://ambcrypto.com/bitcoin-cryptocurrencies-taxed-property-israel/
The Israel Tax Authority (ITA) recently announced that Bitcoins and cryptocurrencies, in general, would be treated and taxed as property and not as an asset. On February 19th, the ITA through a professional circular declared, “Bitcoin is an asset and not a currency.”
Read Full Story Here - https://ambcrypto.com/bitcoin-cryptocurrencies-taxed-property-israel/
This is one more good sign for al of us. I think that Bitcoin will be first cryptocurrency with a stable price that fluctuate but moderately. That’s so important. And using bitcoins in real economy supports this idea very much.
It is a great news to realize that businesses are accepting bitcoin in Isreal but the tax payment is what will hinder some people from accepting bitcoin.
OP, that is a clickbait title. I believe what the Israel government is doing is "fair", and under their law, if you owe them 42% of capital gains tax, then you have to pay them. The same with having profits in trading forex.
The solution is simple. Do not convert your coins to fiat. That's what we are already doing, are we not?
Any licensed business should pay their taxes.
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Israel is going forward with a two-pronged approach when it comes to taxing cryptocurrencies. The tax slab is going to be divided into two categories. The first one includes people who hold these virtual currencies in order to gain profits, i.e, create a capital gain
The solution is simple. Do not convert your coins to fiat. That's what we are already doing, are we not?
Quote
and the second one includes businesses (or individuals) which ‘engage’ in Bitcoin for ‘business’ purposes.
Any licensed business should pay their taxes.
Government made its definition in order to receive more income. Receiving as much benefit as possible is the only goal of all this announcements.
Bitcoin considered Property in Israel – businesses accepting crypto to pay heavily
The Israel Tax Authority (ITA) recently announced that Bitcoins and cryptocurrencies, in general, would be treated and taxed as property and not as an asset. On February 19th, the ITA through a professional circular declared, “Bitcoin is an asset and not a currency.”
Read Full Story Here - https://ambcrypto.com/bitcoin-cryptocurrencies-taxed-property-israel/
The Israel Tax Authority (ITA) recently announced that Bitcoins and cryptocurrencies, in general, would be treated and taxed as property and not as an asset. On February 19th, the ITA through a professional circular declared, “Bitcoin is an asset and not a currency.”
Read Full Story Here - https://ambcrypto.com/bitcoin-cryptocurrencies-taxed-property-israel/
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