Do Bitcoins have Tax?? - page 26. | Bitcointalksearch.org

pinkpanther03

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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??

As far I know bitcoin don't have any tax but it has a percentage of charge in every transaction that we want to make, like investing in the different exchanges platform, mining sites, faucets and etc.

randy8777

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Quote from: defined on September 23, 2016, 06:06:37 AM

"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.

if you sell your stereo there won't be any need to declare your coins since it is a very small amount, but when you for example sell your car for bitcoins, where the value is like $20,000, then your coins become part of your holdings. and that's when you officially must declare your coins. if you are really going to do so, that's up to you, but officially it's a must.

pmstalk

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Quote from: yenxz on February 11, 2016, 12:17:57 PM

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??

so far bitcoin have no tax,and since bitcoin founded. but i believe in some countries,bitcoin is considering to have tax,and also happen in my country.

It depend upon government law of particular countries If government applies tax for bitcoin means they accept currency leagelly ,hence it will good sign for developing BTC transitions in every sector.

defined

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"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.

Achargeturry78

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Just follow the rules

Here in our country bitcoin has tax because if I cash out my money I pay for fee in remittances to get my money. And remittances has a government tax but if you take your bitcoin in atm cardless there is no tax in there and also in banks. So I guess it defends on what you withdraw your money.

Nowl1935

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Here in my country, as of now bitcoin don't have any tax. Maybe if bitcoin is recognize by a government to be a legal Curency in a country, i think thats that time bitcoin have a tax.

densuj

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At my country Indonesia there is not tax in bitcoin, but some countries will apply tax for using or ownership of bitcoin. For more details can be checked on this news http://www.coindesk.com/italy-tax-speculative-bitcoin-uses/

Crypt0kn1ght

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No tax, just transaction fee

funkenstein

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Khazad ai-menu!

What is this nonsense?

Bitcoin is used for payments .. which are also known as taxes. So yes, bitcoin is specifically designed as payment tool, that to settle sums owed, to pay one's tax. There are taxes paid to miners for their services, there are taxes paid to exchanges for their service, there are taxes paid to restaurants for their services, etc. There are taxes paid to extortion rings so they don't lock your family up, and there are taxes paid for education, transportation, drugs.. you name it.

If you have a question about a specific person requesting a specific tax, then lets hear it. Otherwise, this thread is sad nonsense.

Sidas_Crew669

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Quote from: mantra on September 09, 2016, 09:26:01 AM

Quote from: bitlancr on September 09, 2016, 09:20:34 AM

yes it depends on where you are from but if you are earning alot of money with bitcoin and not showing it to the tax then you are earning black so aslong as the country knows what you earn in bitcoin aswell you should be fine, or you could leave it black but if they find out you might be screwed

yes, most countries do collect taxes from all the things that make money, including bitcoin. of course we have to report our wealth in the form of bitcoin to determine the amount of tax

That is certainly true, most countries in the world, this will definitely do the analysis of the wealth we have. But specifically for bitcoin, I think there hasn't been a country do analyses or acceptance of the bitcoin as one taxpayer. Because the tax is a form of protection of their rights to get freedom in doing something against their wealth for not violating state law

mantra

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Quote from: bitlancr on September 09, 2016, 09:20:34 AM

yes it depends on where you are from but if you are earning alot of money with bitcoin and not showing it to the tax then you are earning black so aslong as the country knows what you earn in bitcoin aswell you should be fine, or you could leave it black but if they find out you might be screwed

yes, most countries do collect taxes from all the things that make money, including bitcoin. of course we have to report our wealth in the form of bitcoin to determine the amount of tax

bitlancr

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yes it depends on where you are from but if you are earning alot of money with bitcoin and not showing it to the tax then you are earning black so aslong as the country knows what you earn in bitcoin aswell you should be fine, or you could leave it black but if they find out you might be screwed

aesma

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Quote from: randy8777 on September 09, 2016, 08:08:07 AM

Quote from: Zadicar on September 09, 2016, 04:58:21 AM

Quote from: dearbesz1219 on September 09, 2016, 01:13:03 AM

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.

bitcoin being decentralized has nothing to do with whether or not you have to pay tax. you as individual are responsible for your tax declarations. if you declare that you own a certain amount of bitcoin, then you have to pay tax over your coins. it's that simple.

Finally someone with some understanding of what we're talking about !

It may be easy to cheat the taxman, but it's better to at least realize you're doing it.

kanazawa

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Comparing with any service and if we note that you can transfer any amount you want the taxation is ridiculously small. It's pretty symbolic and even for a maintenance it's the smallest in the world.

Noctis Connor

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Quote from: warwar on September 08, 2016, 06:06:00 AM

Quote from: marcuslong on September 08, 2016, 06:00:55 AM

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

wow! thats big! how i wish i could earn like that every week! cool! i should work hard more! Cheesy

im withdrawing my 0.03 tomorrow because i need it and also here in our country it has no tax but it has fees if you withdraw it but it is okay Cheesy

You gonna make it soo soon just work hard and every thing will follow

im earning also in my signature campaign where i earn 0.004 daily if i made 20 post a day and thats big for me and i can withdraw my bitcoin every week which is the has no fee because im using bitcoin wallet that patnered some bank :|)

randy8777

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Quote from: Zadicar on September 09, 2016, 04:58:21 AM

Quote from: dearbesz1219 on September 09, 2016, 01:13:03 AM

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.

bitcoin being decentralized has nothing to do with whether or not you have to pay tax. you as individual are responsible for your tax declarations. if you declare that you own a certain amount of bitcoin, then you have to pay tax over your coins. it's that simple.

johnnyyash

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I don't think so...but in some countries it might be possible.. But I also still feel that bitcoin it can turn to real cash and used for tax...

Zadicar

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Quote from: dearbesz1219 on September 09, 2016, 01:13:03 AM

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.

dearbesz1219

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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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

aesma

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Quote from: Supercrypt on September 08, 2016, 03:23:06 PM

Quote from: aesma on September 08, 2016, 07:12:04 AM

Quote from: sishendaoye on September 08, 2016, 06:16:25 AM

No Bitcoin does not have any tax because it is not controlled by the government so they cannot put any tax on it even if they wanted to.
Many people are also making use of Bitcoin because there is no tax included.

What do you make of the wealth tax some countries have (France, Belgium for example) ? Government don't control the property market, it doesn't mean you don't pay tax.

In France there is a huge tax on gold, yet the government doesn't control the gold market.

What about capital gains taxes ?

It is because gold itself can not be considered a currency of it's own, unlike with bitcoin which you can do so.
Putting taxes on bitcoin directly is like putting taxes everytime you use a currency. Practically no real time example for such a scenario. Let us wait and see on how the regulations are moving...

I'm not saying it's practical to tax, I'm saying it's not tax free. I used to sell stuff on eBay. Used computer hardware, to buy new one. Only my personal stuff. I still should have paid tax on this.

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