Do Bitcoins have Tax?? - page 30. | Bitcointalksearch.org

oceanriver

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Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

thats true, if you want your transaction to be confirmed faster then you have to include bigger fee while you can also dont include it at all it is yours decision

Yakamoto

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Quote from: vero on August 10, 2016, 12:43:42 PM

Quote from: thejaytiesto on August 10, 2016, 08:48:34 AM

Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

Lol crypto to crypto transactions never have a tax.. what you are calling tax is transaction fee, OP is thinking about government tax as far as I know.

I think you just have to pay tax of capital increase once you cash out in fiat, thats all. If they ask me more I just dont know, I don't keep track of the data. Hell MT gox is dead so if they are insane enough to require every transaction I ever did I just dont have that data anymore.

but i hear in some countries you must pay tax from the profit you get from trading bitcoin, for detail which countries. i'm forget.

I think Canada is one, you just have to go and look into it and find a list of the countries that tax you. A majority of the time they'll tax you like it is an asset rather than a currency, but there are some other restrictions in different countries. I don't know enough about it, just go and google it.

vero

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Quote from: thejaytiesto on August 10, 2016, 08:48:34 AM

Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

Lol crypto to crypto transactions never have a tax.. what you are calling tax is transaction fee, OP is thinking about government tax as far as I know.

I think you just have to pay tax of capital increase once you cash out in fiat, thats all. If they ask me more I just dont know, I don't keep track of the data. Hell MT gox is dead so if they are insane enough to require every transaction I ever did I just dont have that data anymore.

but i hear in some countries you must pay tax from the profit you get from trading bitcoin, for detail which countries. i'm forget.

Hueylewis

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It highly depends on the state you're in but I would assume that if you exchange a certain amount to fiat you'll have to include it in your tax returns!

manselr

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Quote from: Supercrypt on August 10, 2016, 12:18:02 PM

Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

Those aren't really tax since there's no government involved in bitcoin transactions but they are considered tax since the tx fees are paid to the miners as a sort of incentive to them.
Sending from wallet to wallet always have tax even when it's either from another bitcoin user a gambling site. Except using Xapo wallet though. Using their wallet service, you don't really have to pay any tx fee.

How come with Xapo you don't have to send transaction fee? It does not make sense to me... bitcoin transactions aren't free, it doesn't matter what wallet you are using.

Supercrypt

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Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

Those aren't really tax since there's no government involved in bitcoin transactions but they are considered tax since the tx fees are paid to the miners as a sort of incentive to them.
Sending from wallet to wallet always have tax even when it's either from another bitcoin user a gambling site. Except using Xapo wallet though. Using their wallet service, you don't really have to pay any tx fee.

serjent05

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Quote from: Sidas_Crew669 on August 10, 2016, 08:50:26 AM

Quote from: bitdumper on August 10, 2016, 08:46:10 AM

givernment charges tax but bitcoin does not.abd if we consider about the transaction fees then we can not compare that with the tax system because money is controlled by banks and tax are implemented by government.btc has txd fees but does not have tax

The tax will not be done by the Government to every transaction is done, but the Government was able to take taxes from the giving of the guarantee against any storage bitcoin is done in the country. I think in the future the Government will conduct a policy of taking the tax to all users of the bitcoin

I agree it is been stated that the fee payed in transcation is not Tax, it is called transaction fee for the miner proposed fee and processing fee if you are sending it from exchanges. The government cannot directly implement tax to bitcoin because as I know they do not recognize it as currency yet.

Sidas_Crew669

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Quote from: bitdumper on August 10, 2016, 08:46:10 AM

givernment charges tax but bitcoin does not.abd if we consider about the transaction fees then we can not compare that with the tax system because money is controlled by banks and tax are implemented by government.btc has txd fees but does not have tax

The tax will not be done by the Government to every transaction is done, but the Government was able to take taxes from the giving of the guarantee against any storage bitcoin is done in the country. I think in the future the Government will conduct a policy of taking the tax to all users of the bitcoin

thejaytiesto

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Quote from: Achargeturry78 on August 10, 2016, 08:42:04 AM

it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

Lol crypto to crypto transactions never have a tax.. what you are calling tax is transaction fee, OP is thinking about government tax as far as I know.

I think you just have to pay tax of capital increase once you cash out in fiat, thats all. If they ask me more I just dont know, I don't keep track of the data. Hell MT gox is dead so if they are insane enough to require every transaction I ever did I just dont have that data anymore.

bitdumper

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givernment charges tax but bitcoin does not.abd if we consider about the transaction fees then we can not compare that with the tax system because money is controlled by banks and tax are implemented by government.btc has txd fees but does not have tax

Achargeturry78

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it always depends , because if you use to send your money to another bitcoin wallet ofcourse there's a little tax and if you also use gambling where you send your profit to your bitcoin wallet there's always a tax but if you change you bitcoin into fiat it always depends if what you use because if your from philippines and if you are using coins.ph then probably you know the remitance centers and banks

erickkyut

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Quote from: asriloni on August 01, 2016, 03:17:26 AM

Quote from: Dudeperfect on August 01, 2016, 03:06:12 AM

There is no tax right now but when I try to convert bitcoin in fiat I have to pay service tax.

It's same you getting a tax for your bitcoin because although the transaction if have relationships or for bitcoin and getting some charge maybe for the transaction it means you're getting tax for your bitcoin. and I never heard there is another tax from the tax of the transaction.

it's not a tax but a transaction fee Cheesy

tax is a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc. while transaction fee is a fee that a broker-dealer assesses on a client for the service of filling an order. Usually, the transaction fee is a percentage of the value of the transaction, but sometimes it is a flat rate, such as two cents per share or seven dollars per trade. those are two different things my friend Cheesy

bitbunnny

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With the stronger regulations of Bitcoin probably also the taxes will come together. But majority of countries still don't know what to do with Bitcoins and how to deal with it, how to regulate it by the law so to my opinon it will take some time for this to happen.

Bitcoinsummoner

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Quote from: bravehearth0319 on August 05, 2016, 01:40:24 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??

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 maybe in some other country have tax but majority of the country who dont accept bitcoin yet but only community use it dont have tax. And what kind of tax? well frankly to say don't have any idea what kind it is.

I think almost all country still not have a tax to transfer money using bitcoin and i think bitcoin still not control by government.s

bravehearth0319

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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 maybe in some other country have tax but majority of the country who dont accept bitcoin yet but only community use it dont have tax. And what kind of tax? well frankly to say don't have any idea what kind it is.

BicolIsarog

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I think bitcoin doesn't have any tax. But to send and receive bitcoin our wallet sites will charge some little amount of BTC. I think If my country accept Bitcoin as legal currency then the regular tax will add to Bitcoin. the transaction fees are really low and it is does not depend on how much money you transact.But when Bitcoin becomes legal if will have tax for sure.

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Quote from: bamboylee on July 31, 2016, 10:34:36 PM

Quote from: Hellacopter on July 30, 2016, 03:04:44 AM

As Bitcoin is used anonymously i think it's hard for governments to impose tax for using it
But many users exchange their bitcoins to fiat which is under the tax laws

But I do not think that individual bitcoin users can be taxed. As long as you can keep it a secret, they can never know how much you are earning from bitcoin. We are all safe from government tax, i hope.

Because the decentralised system or another system is having the big role to making a prevention from the government intervention, and making the government it's so difficult to make an intervention in there. until this time we will always safe from the government tax about the bitcoin.

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Quote from: Dudeperfect on August 01, 2016, 03:06:12 AM

There is no tax right now but when I try to convert bitcoin in fiat I have to pay service tax.

It's same you getting a tax for your bitcoin because although the transaction if have relationships or for bitcoin and getting some charge maybe for the transaction it means you're getting tax for your bitcoin. and I never heard there is another tax from the tax of the transaction.

Mr. Big

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Quote from: ?? on ??

As far as I know they are not paying taxes in bitcoin transactions, but some sites use fees for their services, but I do not think so, this fee is or can be viewed from your transaction tax

No, that is not tax, as long as you are not converting your coins to fiat, there is no tax in it, only transaction fee and we all know where those transaction fees will go...If there is a fee each time you convert your coins to fiat in an exchange, that is for them, their profit, that is the payment for their service they made for you on converting your coins to fiat..

Dudeperfect

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It's not 'internet currency' in my tax jurisdiction. In fact, bitcoin is a computer software as per Indian law,

Have a look on this article - 'Summary of Bitcoin as per Indian constitution | Bitcoin Alliance India'.

Also have a look on this Wikipedia topic - Legality of bitcoin by country.

There is no tax right now but when I try to convert bitcoin in fiat I have to pay service tax.

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