Countries with No Bitcoin Taxes - page 2.

marcbitcoins

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Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

In the Philippines earning Bitcoin has no tax because it is not declare illegal but not ban so the people are enjoying the Bitcoin earnings without tax and we will just hope that if Bitcoin will be regulate in the country it will be the same regulations in Japan, Germany and Denmark that it will be tax free so that the people will be more encourage to join the investments and help the economy of the country to be more strong and stable.

BitHodler

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Quote from: Hannahanto on June 11, 2018, 09:05:11 AM

There are so many countries free from bitcoin tax, i know some of the ountries such as Malaysia, Denmark, India, phillipines, Germany, Japan. In these countries bitcoin is neither legal nor banned. So people are not forced to pay tax for bitcoin.

That's not true. All countries you listed require people to at least pay tax over their crypto capital gains, and depending on the country there are more cases where you are subject to taxation.

Japan can be seen as the most friendly Bitcoin country in the world, but they are the worst when it comes to capital gains. If you are a high gainer and fit in the highest tax bracket, you will face a hefty 55% tax rate.

I don't know why people think Bitcoin being legal or not legal grants you the freedom to not pay tax. It doesn't work like that. If anyone has paid tax before it should be clear, so these people likely haven't paid any tax before.

Hannahanto

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There are so many countries free from bitcoin tax, i know some of the ountries such as Malaysia, Denmark, India, phillipines, Germany, Japan. In these countries bitcoin is neither legal nor banned. So people are not forced to pay tax for bitcoin. If government announced tax for bitcoin it will change the economic growth of the country. Now so many countries accept bitcoin as legal so there will be a chance to implement tax in future.

East2011

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There is no tax on bitcoin here in my country. But the status of bitcoin here is not yet known. The government is not acknowledging bitcoin but they are not banning it as well.

lynttrs

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Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

I think tax should not be imposed on crypto holders. For that would be hard to regulate. They should instead put the tax on the exchanges of the country where you can buy crypto. But it would really be better to make it tax-free like in Germany. Denmark, Singapore. Especially if it is just an investment.

sahabond

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JC btc

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Quote from: Coffee135 on March 23, 2018, 11:42:19 AM

Quote from: MCVXYZ on March 22, 2018, 02:46:45 PM

Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

I think there are a lot of countries with no bitcoin taxes,because they just cann't control it or They do not care at this stage/they do not know about it.For example in my country,In Republic of Georgia there are no bitcoin taxes for people,But there are regulations(not strict,there works liberal approach for such issues) for legal entities.So you can easily find another countries in google,despite the fact you need to take into account every institutional regulations.But if you mean where are regulations about zero taxes I just remember America and Germany.

Georgia is really famous for its liberal approach to doing business. But I'm sure that if you change your bitcoins to gel or dollars you are required to pay tax. It seems to me that this situation in all countries without exception. Many people think that the lack of a legal framework for bitcoin exempts them from paying taxes but this is not the case.

Good thing for them, even here in some countries of Asia bitcoin has no taxes yet, they are still allowing us to use this as the burden of risk belongs to us, governments, but, still kept reminding us the risk associated in it so that if you are not a risk taker then you don't need to step in into it.

Coffee135

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Quote from: MCVXYZ on March 22, 2018, 02:46:45 PM

Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

I think there are a lot of countries with no bitcoin taxes,because they just cann't control it or They do not care at this stage/they do not know about it.For example in my country,In Republic of Georgia there are no bitcoin taxes for people,But there are regulations(not strict,there works liberal approach for such issues) for legal entities.So you can easily find another countries in google,despite the fact you need to take into account every institutional regulations.But if you mean where are regulations about zero taxes I just remember America and Germany.

Georgia is really famous for its liberal approach to doing business. But I'm sure that if you change your bitcoins to gel or dollars you are required to pay tax. It seems to me that this situation in all countries without exception. Many people think that the lack of a legal framework for bitcoin exempts them from paying taxes but this is not the case.

Baoo

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Unfortunately, in my country, the government does not recognize bitcoin and other cryptocurrencies and they do not even know their positive value of the economy.

Furthermore, I see that there are few countries that have recognized Bitcoin (like, Germany, Japan..) with No taxes and may be because they cannot control the transaction of money and that's a big issue, also they are always looking for a solution to this problem and other ones, that's why the majority of countries cannot recognize the cryptocurrencies in general.

On the other hand, I do not think that the countries (especially the poorest ones) do not want to benefit from Bitcoin and their advantages in the economy. just they are afraid of the negative repercussions on society.

Ahiaba

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Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

There are so many other countries don't tax crypto currency related business and earning and the reason is that they accepte Bitcoin and altcoins as a means payment for goods and services or as an investment. Equally, crypto currency investment and earning can be tax only if your bank account is linked to your wallets.

MCVXYZ

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Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

I think there are a lot of countries with no bitcoin taxes,because they just cann't control it or They do not care at this stage/they do not know about it.For example in my country,In Republic of Georgia there are no bitcoin taxes for people,But there are regulations(not strict,there works liberal approach for such issues) for legal entities.So you can easily find another countries in google,despite the fact you need to take into account every institutional regulations.But if you mean where are regulations about zero taxes I just remember America and Germany.

Don Pedro Dinero

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Quote from: Pulpo on May 03, 2014, 11:43:09 AM

In Spain there hasn't been any news related on bitcoin, and at least on my area of living, I and the friends to whom I talked about bitcoin, we are the few to know about that as far as I know, you can ask anyone from my village and most they can say is, is it related to computers? Huh

The fact that you and your friends don’t know much about bitcoin doesn’t mean that there isn’t legislation about it in Spain. You can learn here:
https://bitcointalksearch.org/topic/m.22332027

Aikidoka

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What if I told you that my country does not care whether or not we use, mine, exchange bitcoin. People can do whatever they want. But I still do not know if they can use bitcoin for illegal purposes on the dark net or purchase drugs or something related to that. Added to that statement, my country has never mentioned bitcoin. It is not even known in here. People are still not aware of the existence of this power. They are too blind to notice the true reality.

Ragnartron

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I can pull out large cash money from the dealer and not pay taxes on Bitcoin, but that amount will show up somewhere as my assets eventually and I will pay tax only there, which is not bad. But I think they will regulate this in next two years. They love taxes.

aRTyMK4

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Quote from: siti25 on March 20, 2018, 08:42:59 AM

as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

What about when you exchange it to fiat and withdraw large amount to your bank account? They probably ask you where did this money came from, please prove origin. When you say bitcoin trading, is that it or they charge you tax on profit in Malaysia

carlfebz2

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Quote from: JC btc on March 20, 2018, 02:42:19 PM

Quote from: siti25 on March 20, 2018, 08:42:59 AM

as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

Even here in our country which is Philippines we are not yet forced or obliged to pay taxes as our government has not yet making law regarding the tax to imposed on it but I know that time will come they are just seeing any sides and potential how much they will imposed on it.

That time would really come and I do somehow expecting it already where bitcoin and crypto owners would really be obliged to pay up taxes specially when PH government would see on how much money do goes in and comes out.We are talking millions on here since people in PH is actively involve into cryptocurrency investments and tradings which we would normally reach out those amounts without any problems.Taxation is somehow anticipated already not now but for sure it would come.

JC btc

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Quote from: siti25 on March 20, 2018, 08:42:59 AM

as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

Even here in our country which is Philippines we are not yet forced or obliged to pay taxes as our government has not yet making law regarding the tax to imposed on it but I know that time will come they are just seeing any sides and potential how much they will imposed on it.

siti25

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as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

matuson

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Quote from: Bagaji on March 19, 2018, 04:20:15 PM

Quote from: SnakePlisken on April 19, 2014, 09:34:26 AM

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

There are so many country that do not tax crypto currency related business activities. One of the country in particularly is Nigeria this is a country where Bitcoin and crypto currency in general are not accepted as a means payment for goods and services to the extent that the Nigeria Central bank Governor refer to Bitcoin as a ponzi scheme although he say so as a result of ignorance. And there are so many other countries Africa that do not tax crypto currency related business.

All countries do not charge taxes on sales of bitcoin. They take taxes from Fiat which you received upon the exchange of bitcoins. A lot of people don't see that as a difference, but it's important. In order not to pay taxes at all, you need to be able to use bitcoin as a currency for the purchase of goods. In regular stores it will not but in the store it's real.

Granxis

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Quote from: rhamzter on January 12, 2018, 06:07:51 AM

In Asian countries most of them are not implied taxes, maybe because bitcoin and other crypto currencies are not totally legal in that nation. However, I believe that someday bitcoin and other crypto currencies will become legal in all part of the world. Hopefully that crypto currencies in the whole world will become centralize in the digital world together with the local world.

The Asian continent is a very large continent, and East Asian countries are looking more favorably towards Bitcoin. The most free policy is the south east asia. Most of the Central Asian countries have banned Bitcoin.

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