I think it's funny how this question persists in America when there is absolutely no question that any capitol gains in bitcoin is taxable. Those asking here really should consider asking a tax preparer rather than an website. Ignorance of your taxes is no excuse for non-payment. You will still owe the principal + late penalties + interest + possible jail time.
Topic: Do Bitcoins have Tax?? - page 17. (Read 40193 times)
I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.
and that is the good thing with bitcoin it has no tax and it is not regulated or controlled by the government and they cannot manipulate it . regarding to transaction fee it is not that huge amount and it is necessary because it goes to the services we are using and to the miners .
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??
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 is decentralized and is not under the government that's why it has no tax.
Tax in transaction? Do you mean the miners fee? The miners fee goes to the miner who mines the block with your transaction but don't worry miners fee is much cheaper than the fees we have here (Banks, remittance centers etc.)
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.
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 tax. The tax on transactions goes to the company of site or app you make a transaction. 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??
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??
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??
if you mean transaction fee, I think it goes to miners because they confirm the transaction.
the fees goes to the pool who process the transaction first. after that the fees are devided for each miner in the pool.
that's explanation from my friend when I first knew about bitcoin.
I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.
It's actually the benefits of using bitcoin so we can avoid taxes, here we do not pay taxes unlike in our business in real life and even if we are just a simple employee we are still oblige to pay taxes impose by the government. Since I knew bitcoin, it already gave me a chance to earn and the good thing is that I can maximize my earning here.People are sick and tired being a slave of the system where they don't enjoy any kind of financial freedom. Bitcoin is a great tool that will allow many people to finally enjoy financial freedom.
I just hope the average Joe will also understand and realize this. Mostly these average Joe people follow everything their government tells them to do.
Why? Because it's the easiest and most familiar way for them to deal with it. People constantly complain about governments charging too muxh tax and stuff. Now is the moment to act. DO IT!!
I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.
It's actually the benefits of using bitcoin so we can avoid taxes, here we do not pay taxes unlike in our business in real life and even if we are just a simple employee we are still oblige to pay taxes impose by the government. Since I knew bitcoin, it already gave me a chance to earn and the good thing is that I can maximize my earning here.
I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.
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.Charge or fees are not tax. So if an exchange is registered through local government then they are the one that is responsible for paying the tax.
And not bitcoin itself will be the one who will be taxed but because they are declared in SEC as profitable company.
Then they are obliged for paying their community tax and all types of taxes whether they are earning with bitcoins or not.
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??
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??
It seems that your question is a bit confusing, because some part of the line does tell about no tax and the other line asked about where the tax go. Anyway, if you are referring about asking where this transaction fee go, it is a reward to miner (fee) so that they will include your transaction whenever they found a block to process, does the confirmation thing. The higher your transaction fee is the faster it will be pickup by miners and the lower or no fee transaction are more likely to be ignored. But don't worry about it it will still be processed but it will take time.
Yes its true. The transaction fees that is being charge to all our transactions made with bitcoin will go the the miners. And i think those transaction fees cannot be referred to as tax since tax is a term that is being used as a government revenue. And bitcoin and its transactions has nothing to do with the government and it is not related to any government transaction at all.
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??
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??
It seems that your question is a bit confusing, because some part of the line does tell about no tax and the other line asked about where the tax go. Anyway, if you are referring about asking where this transaction fee go, it is a reward to miner (fee) so that they will include your transaction whenever they found a block to process, does the confirmation thing. The higher your transaction fee is the faster it will be pickup by miners and the lower or no fee transaction are more likely to be ignored. But don't worry about it it will still be processed but it will take time.
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. 
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??
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 don't have tax ever since its started only charge for every transactions in every exchange platform. And even bitcoin become popular all over the world it will never be control by any of the government worldwide as long as bitcoin is decentralized.
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??
I think bitcoin has no taxes, just that I want to melt into any real money, there is always a piece of bitcoin bank. So maybe I think, that the tax, the pieces of each of us draw / thaw bitcoin us into real money. 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??
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??
Where do these Tax go?Government? And what kind of tax is it??
The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.
tax fee will be different, and I think the tax cannot be implemented to bitcoin
If bitcoin will be tax, I guess there's no excitement anymore, people will leave for sure.
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??
Where do these Tax go?Government? And what kind of tax is it??
The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.
tax fee will be different, and I think the tax cannot be implemented to bitcoin
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??
Where do these Tax go?Government? And what kind of tax is it??
The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.
tax fee will be different, and I think the tax cannot be implemented to bitcoin
My understanding of UK tax on Bitcoins for individuals (not a company) is that any profits when Bitcoins are sold for GBP are subject to Capital Gains Tax. There is currently an annual tax-free allowance of £11,110.00. So unless you are a whale or an incredibly lucky investor you possibly won't pay any tax on Bitcoins sold. I am a Software Engineer not an accountant nor tax adviser so please don't rely on my understanding.
no notion is decentralized and there is no chance of government to impose taxes on it. it's a private property and government have no hands over our own money. we haven't taken the money from government banks outs the money that we had mined by our own in our own machine so why should we pay taxes to government.
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