Government will not impose a tax to bitcoin most specifically the bitcoin uers. It's too much especially we dealing with the miners fees and the fees to the exchange itself when we used their service.
The one that will face the taxes are those bitcoin exchanges since they are regulated. Somehow safe because we know they are a registered company and no transparency at all and in case of fraudal activity, we can file a suit. But because they are the one being taxed, those exchanges will have some fees in some of their service in order to operate fully.
Topic: Can governments find a way to tax Bitcoin? - page 2. (Read 1291 times)
Ecuador introducing their own digital currency is a clever way of introducing tax in digital and virtual currencies. Exchanging bitcoin into their own digital currency will surely be taxed. If more countries can adopt such a method it will surely improve their economies by generating more revenue for the government leading to improved infrastructural development of that country.
if some country want tax bitcoin
the first must regulation bitcoin, without regulation is never tax
can follow japan, in there bitcoin user can tax fee, every transaction in exchanger another trade fee , charge tax fee too
the first must regulation bitcoin, without regulation is never tax
can follow japan, in there bitcoin user can tax fee, every transaction in exchanger another trade fee , charge tax fee too
Yes they will find and they will make way to earn money after legalizing bitcoins in a country,government is now corrupt big taxes is the problem even small earners in business pay big taxes they want money from us they need us to feed them
I plan on paying taxes on my gains, I think if we were in a world where fiat didnt matter, then its possible to go forever without actually paying taxes, but when you move into fiat, they are going to notice if you suddenly become rich overnight.
If they try to tax it they will find a way or another to do it.
Maybe tracking down your addresses/wallets might be difficult but since you need to convert these coins to fiat in order to buy stuff in the real world, at that point they will interrogate you since you receive cash on traceable services (paypal, skrill etc, ) which are all linked to your credit card.
Maybe tracking down your addresses/wallets might be difficult but since you need to convert these coins to fiat in order to buy stuff in the real world, at that point they will interrogate you since you receive cash on traceable services (paypal, skrill etc, ) which are all linked to your credit card.
Government cant do this stuff, but they can do this if people convert their bitcoin to fiat especially when depositing to their bank accounts I guess, or when they withdraw thic converted bitcoin from their bank accounts because they cant control tax on the network, I mean the blockchain network.
Governments can really tax bitcoin when you decide to convert to fiat or buy real world stuff. otherwise they have no control over taxes on the blockchain.
If the government is like in the U.S., where you have to report every earning and pay taxes (which is something they certainly do), they would be able to tax your bitcoins. Imagine if they are monitoring your online activity, they would know most of your wallets/addresses, they would know the amount of bitcoins you have, and they would require you to pay for them.
Here in my country, the government does not have any laws about taxing bitcoins but our central bank released a statement about regulating the use of it. I think that as time passes by more and more people will know about bitcoin and who knows, the government might tax it in the future.
I read recently in an article about Ecuador introducing its own digital money. Known as ‘Ecuador's Sistema de Dinero Electrónico’, it gave Ecuador the opportunity to control the cryptocurrencies market, in its own country, by enforcing regulations against Bitcoin. I was thinking about this new breakthrough, and I think it can be used to enforce a tax on Bitcoin if other countries adopted it. Of course, they can’t ban the usage of Bitcoin to enforce such a tax, but this method is plausible. Will it work? And if it does what does it mean for the future of Bitcoin?
I think government did't find ways to collect tax in bitcoin. Why? bitcoin is not a fiat and it is unpredictable. This is a cryptocurrency that used in electronic payment. And most of the country in this world, bitcoin didn't accepted as fiat.
I read recently in an article about Ecuador introducing its own digital money. Known as ‘Ecuador's Sistema de Dinero Electrónico’, it gave Ecuador the opportunity to control the cryptocurrencies market, in its own country, by enforcing regulations against Bitcoin. I was thinking about this new breakthrough, and I think it can be used to enforce a tax on Bitcoin if other countries adopted it. Of course, they can’t ban the usage of Bitcoin to enforce such a tax, but this method is plausible. Will it work? And if it does what does it mean for the future of Bitcoin?
Can you post the article link?
I read recently in an article about Ecuador introducing its own digital money. Known as ‘Ecuador's Sistema de Dinero Electrónico’, it gave Ecuador the opportunity to control the cryptocurrencies market, in its own country, by enforcing regulations against Bitcoin. I was thinking about this new breakthrough, and I think it can be used to enforce a tax on Bitcoin if other countries adopted it. Of course, they can’t ban the usage of Bitcoin to enforce such a tax, but this method is plausible. Will it work? And if it does what does it mean for the future of Bitcoin?
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