Topic: Do Bitcoins have Tax?? - page 15. (Read 40193 times)
In most of countries, there is no tax for Bitcoins. Since its transactions are untraceable, tax is not laid on bitcoin earnings. In our country India also, there is no tax for bitcoins.
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
I think although the country impose taxes to bitcoin, it will not make users pay their taxes, even I'm sure the government does not know where the bitcoin users who included residents of their country, so this will not be effective
Yes there is, we have to pay taxes on our bitcoin profits, even in a small or big transactions there is a tax already. Demand in Bitcoins, a completely anonymous digital currency that can be used like real cash, has never been higher. But the only thing that is really great to bitcoin even there is a tax, it is trustworthy enough and some fees are lower than the others.
thinking you don't have to pay any taxes just because you are using bitcoin to make money instead of fiat is a naive way of thinking because sooner or later government will get you and you will end up paying much more fees that you would have if you had submitter your tax forms on your own.
it is best that everyone consults a financial expert or at least a lawyer (or whatever a tax consultant is called in english) to find out more about what they have to do in their own country instead of relying on what they read on the internet.
it is best that everyone consults a financial expert or at least a lawyer (or whatever a tax consultant is called in english) to find out more about what they have to do in their own country instead of relying on what they read on the internet.
Thats why ive told that bitcoin mines pays less taxes then all other industries but they still pay taxes.
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
In any bitcoin doesn't have tax for transactions. But if you wish you could consider minig fees as the tax for your every transaction. Apart from this fees there is no any charges for bitcoin.
Electrical power the miners use is taxed. So bitcoin users pays taxes to governments bitcoin mines are by paying fees to those mines. Bitcoin users mainly helps financialy the Chineese government that way. So its a folly that bitcoin users make that they are somehow independent of the world. They are not. Ofcourse they pay less taxes then other industries. But truth is truth. If you dont mine your own bitcoins with your own powergrid - you support China basicly.
Taxes on the inputs that you buy is different from income taxes / taxes on profits.
All manufacturing companies use power, materials etc. These inputs are taxed by governments. That doesn't mean manufacturing companies don't pay income tax.
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
In any bitcoin doesn't have tax for transactions. But if you wish you could consider minig fees as the tax for your every transaction. Apart from this fees there is no any charges for bitcoin.
Electrical power the miners use is taxed. So bitcoin users pays taxes to governments bitcoin mines are by paying fees to those mines. Bitcoin users mainly helps financialy the Chineese government that way. So its a folly that bitcoin users make that they are somehow independent of the world. They are not. Ofcourse they pay less taxes then other industries. But truth is truth. If you dont mine your own bitcoins with your own powergrid - you support China basicly.
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
In any bitcoin doesn't have tax for transactions. But if you wish you could consider minig fees as the tax for your every transaction. Apart from this fees there is no any charges for bitcoin.
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
In any bitcoin doesn't have tax for transactions. But if you wish you could consider minig fees as the tax for your every transaction. Apart from this fees there is no any charges for bitcoin.
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
In any bitcoin doesn't have tax for transactions. But if you wish you could consider minig fees as the tax for your every transaction. Apart from this fees there is no any charges for bitcoin.
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
Or maybe they simply cannot put tax on it? That's one of the advantages of bitcoin. The government just can't do anything about it. They do not support it but they also cannot ban it for not being able to put tax on it. Even when you earn millions from bitcoins, they can't put tax on you. The only problem is when you start transferring them to your bank account because they'll notice that there's a mysterious change in your account. That's when the government going to enter your life and you'll be interviewed by a supervisor.Bitcoin is not taxable, the only thing can be covered by taxation are the exchange websites but not bitcoin itself.
Because there is no law covered to be taxed by government for this crypto currency. But that is only applicable to the service providers.
Like exchange sites and maybe online gambling sites as well.
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
Or maybe they simply cannot put tax on it? That's one of the advantages of bitcoin. The government just can't do anything about it. They do not support it but they also cannot ban it for not being able to put tax on it. Even when you earn millions from bitcoins, they can't put tax on you. The only problem is when you start transferring them to your bank account because they'll notice that there's a mysterious change in your account. That's when the government going to enter your life and you'll be interviewed by a supervisor. 
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
Since it's not regulated and not so much popular, bitcoin don't has taxes by goverment but it's taxes is simply it's fees when you are making transaction. I think if number of bitcoin's users will highly grow in the future, than goverment will make some actions and they don't leave us without fees, but hope bitcoin's structure won't give them that permission.
You can't call the fees as taxes, because taxes are being issued and paid to government unlike fees are for the company. Unless your local government will issue tax to you if they knew that you are earning bitcoins, then you should be paying the tax for bitcoin. But most of the government are not even considering bitcoin so we don't have to worry about it.
Since it's not regulated and not so much popular, bitcoin don't has taxes by goverment but it's taxes is simply it's fees when you are making transaction. I think if number of bitcoin's users will highly grow in the future, than goverment will make some actions and they don't leave us without fees, but hope bitcoin's structure won't give them that permission.
You can't call the fees as taxes, because taxes are being issued and paid to government unlike fees are for the company. Unless your local government will issue tax to you if they knew that you are earning bitcoins, then you should be paying the tax for bitcoin. But most of the government are not even considering bitcoin so we don't have to worry about it.
In my country still their is no detail on Bitcoin, so their is not tax still on Bitcoin, if i want to show the profit and loss then it will be as unsecured profit or loss. Other country taxation is how dont know about it.
[/quote
The government still not opening thier door on bitcoins thats why until now bitcoins have no tax. On some country, the government banned bitcoins and consider it as illegal, if only they know how people enjoying the benefits of using bitcoins. Once the government open the door for bitcoins, tax can be implied immediately, but if bitcoins have tax? You think how many percentage it could be?
[/quote
The government still not opening thier door on bitcoins thats why until now bitcoins have no tax. On some country, the government banned bitcoins and consider it as illegal, if only they know how people enjoying the benefits of using bitcoins. Once the government open the door for bitcoins, tax can be implied immediately, but if bitcoins have tax? You think how many percentage it could be?
Since it's not regulated and not so much popular, bitcoin don't has taxes by goverment but it's taxes is simply it's fees when you are making transaction. I think if number of bitcoin's users will highly grow in the future, than goverment will make some actions and they don't leave us without fees, but hope bitcoin's structure won't give them that permission.
No there is no taxes in bitcoin. What made you think that bottom have taxes. It's free from government rules it's fully decentralized for all over the world and there is no one to take the taxes. And even none of the government can't modify or impose taxes but we'll they can ban the currency.
You are right but still it have tax .Actually in small transaction we have freedom of tax but if we go for deals in lakhs then according to government rules of tax we need to pay yearly tax for bitcoin give/take .
Because if a trader is giving money in lakhs or taking money in from/his bank account then we need to give answer for which purpose we have madrd the transaction .
For now, we enjoy using bitcoin tax free and it could benefit us so much.
No there is no taxes in bitcoin. What made you think that bottom have taxes. It's free from government rules it's fully decentralized for all over the world and there is no one to take the taxes. And even none of the government can't modify or impose taxes but we'll they can ban the currency.
You are right but still it have tax .Actually in small transaction we have freedom of tax but if we go for deals in lakhs then according to government rules of tax we need to pay yearly tax for bitcoin give/take .
Because if a trader is giving money in lakhs or taking money in from/his bank account then we need to give answer for which purpose we have madrd the transaction .
For now, we enjoy using bitcoin tax free and it could benefit us so much.
No there is no taxes in bitcoin. What made you think that bottom have taxes. It's free from government rules it's fully decentralized for all over the world and there is no one to take the taxes. And even none of the government can't modify or impose taxes but we'll they can ban the currency.
You are right but still it have tax .Actually in small transaction we have freedom of tax but if we go for deals in lakhs then according to government rules of tax we need to pay yearly tax for bitcoin give/take .
Because if a trader is giving money in lakhs or taking money in from/his bank account then we need to give answer for which purpose we have madrd the transaction .
Jump to: