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Topic: Do Bitcoins have Tax?? - page 16. (Read 40193 times)

full member
Activity: 238
Merit: 100
November 21, 2016, 01:06:47 AM
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.
hero member
Activity: 1190
Merit: 534
November 21, 2016, 12:54:43 AM
bitcoin do not have tax it has the miner fees which is also choosable according to payers needs or priority. tax are taken by government for the primary porpose of development of the countty but bitcoin does not charge anything like that

Yes at this moment there is no direct tax in most of the countries (I guess in all the countries) but I have an account on unocoin where tax is charged on the conversion of bitcoin to fiat or vice versa and it is different from exchange fees. This tax is called service tax which is levied by government for the service industries and hence we have to pay some service tax on the price of bitcoin so it is indirect tax for bitcoin. It's for the service and not directly on bitcoin.
yes that is a fact that still there is no tax on bitcoin and the main reason for this is that still bitcoin is not consider as a legal currency, once if government will accept bitcoin as legal currency then they must put tax on it,.

Not only as a currency because right now it can be classified not only under currency but also as a negotiable instrument, commodity, asset or even a computer software (as per notes from existing laws) so there will be difference in imposing taxes. There are more than one aspect and this it will create a long term impact on the whole bitcoin as well as crypto currency technology.
legendary
Activity: 1092
Merit: 1000
November 21, 2016, 12:41:55 AM
yes that is a fact that still there is no tax on bitcoin and the main reason for this is that still bitcoin is not consider as a legal currency, once if government will accept bitcoin as legal currency then they must put tax on it,.

Please call the IRS and tell them there is no capital gains tax on BTC in the US.

Unlike you , they seem to think there is :  https://www.cato.org/blog/irs-believes-all-bitcoin-users-are-tax-cheats

SATIRE: I am sure if you tell them , it is a Fact , that will be the end of it.  Cheesy


 Cool

hero member
Activity: 588
Merit: 500
November 20, 2016, 11:19:16 PM
bitcoin do not have tax it has the miner fees which is also choosable according to payers needs or priority. tax are taken by government for the primary porpose of development of the countty but bitcoin does not charge anything like that

Yes at this moment there is no direct tax in most of the countries (I guess in all the countries) but I have an account on unocoin where tax is charged on the conversion of bitcoin to fiat or vice versa and it is different from exchange fees. This tax is called service tax which is levied by government for the service industries and hence we have to pay some service tax on the price of bitcoin so it is indirect tax for bitcoin. It's for the service and not directly on bitcoin.
yes that is a fact that still there is no tax on bitcoin and the main reason for this is that still bitcoin is not consider as a legal currency, once if government will accept bitcoin as legal currency then they must put tax on it,.
hero member
Activity: 1190
Merit: 534
November 20, 2016, 09:14:01 PM
bitcoin do not have tax it has the miner fees which is also choosable according to payers needs or priority. tax are taken by government for the primary porpose of development of the countty but bitcoin does not charge anything like that

Yes at this moment there is no direct tax in most of the countries (I guess in all the countries) but I have an account on unocoin where tax is charged on the conversion of bitcoin to fiat or vice versa and it is different from exchange fees. This tax is called service tax which is levied by government for the service industries and hence we have to pay some service tax on the price of bitcoin so it is indirect tax for bitcoin. It's for the service and not directly on bitcoin.
member
Activity: 98
Merit: 10
November 20, 2016, 07:29:53 PM
might have a tax in the future :/

once the gov gets their hands on it who knows what will happen my doodie
legendary
Activity: 1162
Merit: 1000
November 20, 2016, 07:25:29 PM
until now there is no regulation governing taxation bitcoin. can be said bitcoin has no taxes at all. That makes a lot of people interested in using bitcoin compared to other investments.
legendary
Activity: 1092
Merit: 1000
November 20, 2016, 06:09:20 PM

If you are in the US, BTC has capital gains tax.  Embarrassed


 Cool



sr. member
Activity: 462
Merit: 273
November 20, 2016, 05:59:28 PM
It depends. Some countries have none at all, some have low and some have high.
hero member
Activity: 504
Merit: 500
November 20, 2016, 05:40:38 PM
bitcoin do not have tax it has the miner fees which is also choosable according to payers needs or priority. tax are taken by government for the primary porpose of development of the countty but bitcoin does not charge anything like that
of course bitcoin will never have a tax, even though the government will apply tax due instead of making bitcoin be legal, I think there will be a lot of tax evasion, and the government will not be able to do anything
newbie
Activity: 48
Merit: 0
November 20, 2016, 04:19:51 PM
it depends on which country since some are countries legalized bitcoins. some do not. bitcoin doesnt have tax to most countries. when you transact bitcoin, it may have transaction fees like when you use blockchain. yet free whrn using other wallets like xapo. but that fee doenst mean that it is the tax imposed to bitcoin.
legendary
Activity: 1274
Merit: 1004
November 20, 2016, 03:51:59 PM
bitcoin do not have tax it has the miner fees which is also choosable according to payers needs or priority. tax are taken by government for the primary porpose of development of the countty but bitcoin does not charge anything like that
hero member
Activity: 588
Merit: 500
November 20, 2016, 03:34:12 PM
I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.
but i do not think that there is any tax on bitcoin, i think still bitcoin is tax free and the main reason can be that bitcoin is still an illegal currency and yet not a single country has accepted bitcoin as legal currency, therefore they have not yet put any tax on bitcoin.
sr. member
Activity: 1414
Merit: 283
November 20, 2016, 01:40:01 PM
bitcoin does not have but transaction and these transaction go to the people who generated the bitcoin means the miners that were able to mine the bitcoin this transaction is split between those pepole
full member
Activity: 266
Merit: 100
November 20, 2016, 01:33:42 PM
Yess it s quite similar to taxes .when u send bitcoins and recieve bitcoins it has been cointed as transaction fees which is similar to taxes .so yess we do pay taxes for bitcoins and bitcoins have taxes . In this case i was also fierstly confused that it has taxes or not .after so many transactions it is quite clear it is full of taxes and u cant jump out of it .its with the life .kudoos Smiley
hero member
Activity: 994
Merit: 544
November 20, 2016, 01:02:44 PM
I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.
yes that is a fact that still there is no tax on bitcoin and it will take some more time to impose tax on bitcoin, as the governments have to accept bitcoin as legal currency and only then they can put tax on it. and still not a single country has consider bitcoin as legal currency.
One thing I know is that once we convert our bitcoin in fiat we are paying taxes on it, not implied but the fee can be seen as a tax for us. Exchange sites are registered business and they get income from us and they are paying taxes on behalf of us.
As of now, bitcoins have no tax, a small amount of transaction fee for those bitcoin wallet network are implementing, but as long as the government have no control on bitcoins, tax on bitcoins was not possible. Maybe yes, other registered sites that are paying tax was already paying tax but only those registered. Once that bitcoins already declared as legal digital currency, i think tax will be added.
sr. member
Activity: 378
Merit: 250
BULL RUN until 2030
November 20, 2016, 07:07:10 AM
I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.
yes that is a fact that still there is no tax on bitcoin and it will take some more time to impose tax on bitcoin, as the governments have to accept bitcoin as legal currency and only then they can put tax on it. and still not a single country has consider bitcoin as legal currency.
One thing I know is that once we convert our bitcoin in fiat we are paying taxes on it, not implied but the fee can be seen as a tax for us. Exchange sites are registered business and they get income from us and they are paying taxes on behalf of us.
hero member
Activity: 532
Merit: 500
November 19, 2016, 04:51:53 PM
I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.
yes that is a fact that still there is no tax on bitcoin and it will take some more time to impose tax on bitcoin, as the governments have to accept bitcoin as legal currency and only then they can put tax on it. and still not a single country has consider bitcoin as legal currency.
hero member
Activity: 1036
Merit: 514
November 18, 2016, 10:54:41 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??
Wel, it depend on which country you live, every government have different regulations about bitcoin.
Transaction may just get fees, but for trading site or exchanges in some countries have to pay taxes due to their business.
When you transaction with them (deposit or withdraw), you get tax indirectly. I thought so, but if your bitcoin just stay on wallet, no taxes
legendary
Activity: 3542
Merit: 1352
November 18, 2016, 10:41:20 AM
It depends on the country that you belong to. For most countries, they don't see bitcoins as an income or investment but rather treat it as a piece of digital asset that can't be taxed. However, some countries are trying so hard to tax bitcoin and deem it as an income and could be treated as such. It's easy to evade, but you know, governments.
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