I don't think having an international uniform method is necessary. I assume most countries currently fall under number 1, which is basically the default option outside special regulations.
I'm not sure about withholding taxes. Wouldn't they make things more complicated just because crypto is so volatile? Time of purchase is probably the most ideal time to apply it though.
By cooperation, do you mean sharing taxpayer info between countries? I personally wouldn't be very comfortable with that.
Topic: Considering about to collect tax about crypto currency - page 3. (Read 659 times)
As crypto currency trading often use overseas exchanges, it seems to be a problem for the nation that difficult to catch taxation and to be unable to collect tax. Then, at what timing should be collected tax about the crypto currency?
I do not know whether it is technically possible, but I consider about it.
①At the time of filing tax returns
･Calculate income by myself and pay tax.
･To calculate profits is very complexity.
･This is the way of my country, Japan.
②At the time of purchasing of crypto currency
･For example, we withhold 10% tax at the time of purchase at exchange, and settle tax at the time of realization of profit orloss by real tax return.
･Collecting tax collects at the entrance, tax leakage are reduced.
･Difficult to catch the profit and loss on overseas exchanges.
･Tax collected at the time of purchase, the purchase amount will be less than the invested funds.
③At the time of sending crypto currency from exchange
･For example, we withhold 10% tax at the time of send crypto currency to foreign exchange or wallet from domestic exchanges, and settle tax at the time of realization of profit orloss by real tax return.
･Nation can reduce the risk of being unable to catch taxation by using overseas exchanges. At least it will not be taxable at all.
･Funds for trading on overseas exchanges will be less.
④At the time of sold
･For example, if we get profits at the sale at the exchange,we will withhold 10% tax, and settle tax at the time of realization of profit orloss by real tax return.
･Difficult to catch the profit and loss on overseas exchanges.
⑤At the time of change to fiat
･Tax the difference between the amount of fiat at the time of purchase and the amount of fiat at the time of sale.
･Easy to calculate tax and can ensure the fund to pay tax.
What do you think about this?
I think No② or ④ is better.
In any case, I think it is necessary to have an international cooperation system.
What kind of method is adopted to collect tax,in your country?
I do not know whether it is technically possible, but I consider about it.
①At the time of filing tax returns
･Calculate income by myself and pay tax.
･To calculate profits is very complexity.
･This is the way of my country, Japan.
②At the time of purchasing of crypto currency
･For example, we withhold 10% tax at the time of purchase at exchange, and settle tax at the time of realization of profit orloss by real tax return.
･Collecting tax collects at the entrance, tax leakage are reduced.
･Difficult to catch the profit and loss on overseas exchanges.
･Tax collected at the time of purchase, the purchase amount will be less than the invested funds.
③At the time of sending crypto currency from exchange
･For example, we withhold 10% tax at the time of send crypto currency to foreign exchange or wallet from domestic exchanges, and settle tax at the time of realization of profit orloss by real tax return.
･Nation can reduce the risk of being unable to catch taxation by using overseas exchanges. At least it will not be taxable at all.
･Funds for trading on overseas exchanges will be less.
④At the time of sold
･For example, if we get profits at the sale at the exchange,we will withhold 10% tax, and settle tax at the time of realization of profit orloss by real tax return.
･Difficult to catch the profit and loss on overseas exchanges.
⑤At the time of change to fiat
･Tax the difference between the amount of fiat at the time of purchase and the amount of fiat at the time of sale.
･Easy to calculate tax and can ensure the fund to pay tax.
What do you think about this?
I think No② or ④ is better.
In any case, I think it is necessary to have an international cooperation system.
What kind of method is adopted to collect tax,in your country?
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