Do Bitcoins have Tax?? - page 14. | Bitcointalksearch.org

ufaiz50

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Quote from: Jemzx00 on February 11, 2016, 10:40:17 AM

Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??

Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??

bitcoin has no real shape as local currency if have tax how to government set it, many of us who do not want to pay taxes imposed by the government

Ryan Dugan

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Right now there is not many places that tax bitcoin . since it is not regulated it would be very hard to do.
I guess this scares most governments.

Kabul

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Quote from: Achargeturry78 on November 26, 2016, 10:00:31 AM

Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

Well that's not truly tax. You should know that tax is something Government charge to its people in order to build public building, road, improve medical, school, education, etc. And what you have to pay when you make a transaction is called fee. Fee is different from tax.

Positid

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Quote from: babyjesusftw1 on November 27, 2016, 02:10:54 AM

I know the IRS is trying to tax bitcoin owners by claiming that bitcoin is a financial asset and can be taxed under capital gains, but I think it will be hard for them to determine what was a long-term hold and what was a short-term hold.

Well, for sure they'll be having a hard time as well to determine how many bitcoins we are holding and they cannot even determine who are the people holding bitcoins. I believe they will not be successful on their plan.

babyjesusftw1

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I know the IRS is trying to tax bitcoin owners by claiming that bitcoin is a financial asset and can be taxed under capital gains, but I think it will be hard for them to determine what was a long-term hold and what was a short-term hold.

Przemax

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You people seem to define taxes as income tax only. The question is why dont you want to pay taxes? Is it because of some ideology? If its because of ideology you fail miserably. By using bitcoin not only you help government, but you help the most corrupted government in the world, which is China, as ive explained in my posts above. You pay chineese energy taxes by paying transaction fees which goes 90% to china government pockets in the end.

If you dont want to pay taxes because you are egoist, and want more money by not paying one of the taxes which is income tax, that you should pay by some speculation or other gain. Then yes you won in that regard. Congrat you - you are an egoist.

I know, I know. Its great to have a selfadoration of selfrightous people, but truth is greater imho.

staff_1307

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Bitcoin has no taxes, this is it, and fascination, the currency is decentralized, so will be able to dispose of it only to you. There are no regulatory bodies, and the banks can not take it from you.

ged00u

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Quote from: Achargeturry78 on November 26, 2016, 10:00:31 AM

Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

I don't think that the money we have to pay every time we have a transaction is tax. I mean bitcoin is not regulated by any government so how can bitcoin have tax? But I also wonder that where the money for sending bitcoin goes because apparently it doesn't go to the hand of neither the governments nor the third parties.

Harlot

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Quote from: serjent05 on November 26, 2016, 10:37:02 AM

Quote from: Achargeturry78 on November 26, 2016, 10:00:31 AM

Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

I think it is transaction fee, not tax. whenever you are doing a transaction. It is different from tax because transaction fee can be adjusted according on how fast you wanted your transaction to be confirmed. With these , bitcoin does not have tax but fee. And the fee that is deducted from exchange is processing fee.

In my whole experience with sending and receiving Bitcoin, I never had seen tax or even transaction fees when I send or receive Bitcoin. I don't know where are you getting this kind of expenses. Because when I send Bitcoin to someone they received it exactly the amount I am sending them without any cost for its transaction. That is the good thing about Bitcoin because there is no cost for its transaction.

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It's a currency just like dollar. Even it's a digital currency it will never be taxed but it is subjected to what they called Forex exchange. The only way a government earn some of bitcoin is when you buy something.

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Quote from: Achargeturry78 on November 26, 2016, 10:00:31 AM

Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

I think it is transaction fee, not tax. whenever you are doing a transaction. It is different from tax because transaction fee can be adjusted according on how fast you wanted your transaction to be confirmed. With these , bitcoin does not have tax but fee. And the fee that is deducted from exchange is processing fee.

groll

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Quote from: Achargeturry78 on November 26, 2016, 10:00:31 AM

Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

Bitcoin is non taxable digital currency, maybe what you mean was the transaction fee. Transaction fee is needed for the transfer of funds so that the provider of wallet can also have profit, but thats not a tax, bitcoins are not controlled by government so they cant put some tax on every transactions, but once bitcoins have been legalized, tax will surely impose.

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Quote from: sportis on November 23, 2016, 06:18:28 AM

According the legislation of my country there is no tax for bitcoin transactions. Even more there is no VAT because bitcoin is considered not a coin, like as fiat, but an agreement between two parties

Yes, other countries ruled out that way. But in USA,U.S. Treasury classified bitcoin as a decentralized virtual currency but in other country it is not regulated. So, mostly bitcoin is not tax and not regulated by government.

Achargeturry78

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Yes bitcoin has a tax everytime you are going to make an transcation using pear to pear or person to person as you can see every time you are going to send bitcoin the tax are input in the transaction details or every time you are going to withdraw your money or exchange it into fiat currency. Hoping that goverment will not impose taxes soon.

Boss CJ

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Quote from: boyptc on November 26, 2016, 07:39:55 AM

Quote from: chineseprancing on November 26, 2016, 06:21:30 AM

I think there is no tax imposed in bitcoin because it is not government regulated business the only things is low fee in every transaction to be made of each users.

But still government will be able to impose tax if they can see that it is a profitable thing in the economy of a country. But as of now, they are not recognizing it as a good type of investment so they can't really impose tax on bitcoins. And its better if they will just let bitcoin to be freely used without any tax, just transaction fees.

Agree with you, in our country btc is not yet recognized well, though it is recognized mostly by teenager, yet not enough to imposed tax on it. And whether they'll imposed tax or not it will be fine with me 'coz I know it will be for the benefit of all people.

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Quote from: boyptc on November 26, 2016, 07:39:55 AM

Quote from: chineseprancing on November 26, 2016, 06:21:30 AM

I think there is no tax imposed in bitcoin because it is not government regulated business the only things is low fee in every transaction to be made of each users.

But still government will be able to impose tax if they can see that it is a profitable thing in the economy of a country. But as of now, they are not recognizing it as a good type of investment so they can't really impose tax on bitcoins. And its better if they will just let bitcoin to be freely used without any tax, just transaction fees.

How do you think they would do it? It's not as easy as you say. You said it like bitcoin is decentralized right now and is just waiting for someone to take over the whole thing and make it centralized. Do you think they would buy blockchain and all the bitcoins in the world? No, because that would mean wasting their resources. It would take billions of dollars to take over the whole thing. Even if they try to buy every single bitcoin, there would still be lots of people who would keep their bitcoins so it's not actually possible to buy it all.

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Quote from: chineseprancing on November 26, 2016, 06:21:30 AM

I think there is no tax imposed in bitcoin because it is not government regulated business the only things is low fee in every transaction to be made of each users.

But still government will be able to impose tax if they can see that it is a profitable thing in the economy of a country. But as of now, they are not recognizing it as a good type of investment so they can't really impose tax on bitcoins. And its better if they will just let bitcoin to be freely used without any tax, just transaction fees.

chineseprancing

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I think there is no tax imposed in bitcoin because it is not government regulated business the only things is low fee in every transaction to be made of each users.

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Quote from: BlackBaron on November 26, 2016, 05:48:27 AM

No bitcoin doesn't have a tax, bitcoin created anonymously and untraceable and bitcoin unrelated with government, yet bitcoin have a fees to pay miners not but government

bitcoin is not associated with anyone and bitcoin anonymous, your identity will be hidden when using bitcoin, and whoever you will not be able to intervene, let alone give you tax on bitcoin you have

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No bitcoin doesn't have a tax, bitcoin created anonymously and untraceable and bitcoin unrelated with government, yet bitcoin have a fees to pay miners not but government

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