Do Bitcoins have Tax?? - page 10. | Bitcointalksearch.org

Pattart

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Quote from: merchantofzeny on December 14, 2016, 01:52:30 PM

Are you saying that each time BT changes hands, it gets taxed? Is the rate the same in every country?

Regarding income tax though, I suppose it'd allow you escape tax for most freelance jobs.

if the tax to bitcoin is actually implemented in a country can be sure that many users avoid paying taxes, because it would be very easy for the user to avoid taxes right ?

Harlot

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Quote from: TastyChillySauce00 on December 27, 2016, 02:49:58 AM

Quote from: fikihafana on December 17, 2016, 10:37:12 AM

In my opinion bitcoin doesn't need tax, because it's digital currency.

That's joke of the day LOL. Bitcoin doesn't need tax because bitcoin it's a currency as you spoken before, neither government nor organisation, the ones who need tax is the government where you're living. The tax will be used to provide services to their citizens and to make their life easier. That's why they need to get an income from the taxes as much as they can

Lets put it this way. A tax is derived from your income. Which means any of your earning whether it is legal or illegal is taxable. Which means if you are earning Bitcoin it can be tax fully. Even donating money has tax. As you have said also Bitcoin is a kind of currency, the word currency itself means money we can't escape to accept that if the government takes action we have no choice to not pay our tax that comes from Bitcoin.

TastyChillySauce00

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Quote from: fikihafana on December 17, 2016, 10:37:12 AM

In my opinion bitcoin doesn't need tax, because it's digital currency.

That's joke of the day LOL. Bitcoin doesn't need tax because bitcoin it's a currency as you spoken before, neither government nor organisation, the ones who need tax is the government where you're living. The tax will be used to provide services to their citizens and to make their life easier. That's why they need to get an income from the taxes as much as they can

marseille

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There is a tax in the US for bitcoin, it is considered as any investment. The Internal Revenue Service wants people to report it like any other assets (stocks, real estate etc). So yes, it is taxed.

fasdorcas

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Quote from: NJRiot on November 05, 2016, 03:22:06 PM

I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

yeah you are right that recently there is no tax on bitcoin because there is a lot of people are converting their money into bitcoin but i think that we will be pay tax on bitcoin in the future .

phantas1isback

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i don't think that bitcoin itself have taxes

tabas

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Quote from: vasrasus on December 17, 2016, 07:49:07 AM

Quote from: tabas on December 17, 2016, 07:40:33 AM

Quote from: ilovefeetsmell on December 17, 2016, 06:33:34 AM

I think Bitcoins have no tax here in the Philippines. They can't determine the user of Bitcoin. Government got immersive collection of money in Value Added Tax(VAT) so maybe they couldn't snoop it. Bitcoin converted into real money then the goods or things that you purchased and services that you used was also have a tax. Same process.

Not just in Philippines but as well as other countries. But I guess local exchange that are legally permitted by the law are the ones who are responsible for paying tax. And they are charged for operating in a particular country but not for knowing that bitcoin is profitable, they are just simply paying tax and I guess we are also shouldering that taxation from them.

I guess so, those exchanging companies who converted bitcoin to cash paid the taxes base on their business profits that is being allotted for their yearly tax. But some services were assigned to us users like a minimum transaction or service fees.

And each transaction that we are making does have tax out of that fees, we may not just know for those exchanges are not disclosing it to us. Because if they will disclose it to us, for sure many of their customers will back out because of that hidden tax that they are charging us. But if their service is good enough, then that's fine to be taxed.

fikihafana

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In my opinion bitcoin doesn't need tax, because it's digital currency.

vasrasus

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Quote from: tabas on December 17, 2016, 07:40:33 AM

Quote from: ilovefeetsmell on December 17, 2016, 06:33:34 AM

I think Bitcoins have no tax here in the Philippines. They can't determine the user of Bitcoin. Government got immersive collection of money in Value Added Tax(VAT) so maybe they couldn't snoop it. Bitcoin converted into real money then the goods or things that you purchased and services that you used was also have a tax. Same process.

Not just in Philippines but as well as other countries. But I guess local exchange that are legally permitted by the law are the ones who are responsible for paying tax. And they are charged for operating in a particular country but not for knowing that bitcoin is profitable, they are just simply paying tax and I guess we are also shouldering that taxation from them.

I guess so, those exchanging companies who converted bitcoin to cash paid the taxes base on their business profits that is being allotted for their yearly tax. But some services were assigned to us users like a minimum transaction or service fees.

tabas

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Quote from: ilovefeetsmell on December 17, 2016, 06:33:34 AM

I think Bitcoins have no tax here in the Philippines. They can't determine the user of Bitcoin. Government got immersive collection of money in Value Added Tax(VAT) so maybe they couldn't snoop it. Bitcoin converted into real money then the goods or things that you purchased and services that you used was also have a tax. Same process.

Not just in Philippines but as well as other countries. But I guess local exchange that are legally permitted by the law are the ones who are responsible for paying tax. And they are charged for operating in a particular country but not for knowing that bitcoin is profitable, they are just simply paying tax and I guess we are also shouldering that taxation from them.

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Quote from: Script3d on December 17, 2016, 07:05:52 AM

Quote from: Kotone on December 13, 2016, 11:04:19 AM

Bitcoin has a tax even we are just making an transaction or sending to another person already had a tax even if we are converating our bitcoin into fiat money it always be a tax, But if goverment will impose tax on bitcoin then they need to create there own blockchain lmao.

even government make their own blockchain the transaction fee will not go to their's , it will go to miners they cant just steal the transaction fee like that they need to create their own altcoin in order to do that.

if the government some day decided to make their own coin with a new blockchain (a government controlled altcoin) be sure that they will never allow anyone other than themselves (or the banks) be able to mine it and it surely will be a closed source coin.

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Quote from: Kotone on December 13, 2016, 11:04:19 AM

Bitcoin has a tax even we are just making an transaction or sending to another person already had a tax even if we are converating our bitcoin into fiat money it always be a tax, But if goverment will impose tax on bitcoin then they need to create there own blockchain lmao.

even government make their own blockchain the transaction fee will not go to their's , it will go to miners they cant just steal the transaction fee like that they need to create their own altcoin in order to do that.

ilovefeetsmell

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I think Bitcoins have no tax here in the Philippines. They can't determine the user of Bitcoin. Government got immersive collection of money in Value Added Tax(VAT) so maybe they couldn't snoop it. Bitcoin converted into real money then the goods or things that you purchased and services that you used was also have a tax. Same process.

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Quote from: Jiyens3 on December 15, 2016, 12:27:17 AM

i think no , because bitcoin not real physical , bitcoin just digital currency

Not only just a digital currency the true thing why bitcoin cant be tax because it is decentralized and no government could able to impose taxes with it and thats why most bitcoin users do like to put their money into bitcoin just to avoid tax. Maybe government could possible impose taxes on those business who are involve into bitcoin.

sanakhan1

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i think no

Jiyens3

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i think no , because bitcoin not real physical , bitcoin just digital currency

merchantofzeny

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Are you saying that each time BT changes hands, it gets taxed? Is the rate the same in every country?

Regarding income tax though, I suppose it'd allow you escape tax for most freelance jobs.

ufaiz50

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Quote from: HanSchultz on December 13, 2016, 06:57:02 PM

Quote from: RodeoX on December 12, 2016, 01:46:04 PM

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There is no tax at all in Dubai let alone paying taxes for bitcoin and so is the case with most of the GCC countries we do not have to pay taxes but i am not sure about the living conditions .

each time you make a bitcoin transaction to be taxed (fee). KPMG survey conducted in 96 countries find there some countries that frees people from taxUni Emirat Arab, Qatar, Oman, Cayman Islands, Bahrain, Bermuda, Bahama. average they replace the tax with the natural resources to cost the government like Oman, they wealth comes mostly from crude oil revenues.

HanSchultz

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Quote from: RodeoX on December 12, 2016, 01:46:04 PM

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There is no tax at all in Dubai let alone paying taxes for bitcoin and so is the case with most of the GCC countries we do not have to pay taxes but i am not sure about the living conditions .

Kotone

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Bitcoin has a tax even we are just making an transaction or sending to another person already had a tax even if we are converating our bitcoin into fiat money it always be a tax, But if goverment will impose tax on bitcoin then they need to create there own blockchain lmao.

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