Topic: Do Bitcoins have Tax?? - page 34. (Read 40193 times)
bitcoin is a free system we don't need to pay any tax to any government or bank because we do not use any of their service to transact but as because miners are adding a extra layer of security by verifying our transaction that's why we are paying them a little amount as a transaction fees
Bitcoin has no tax but it has fees when doing transaction.
As far as I know, government have rules about tax only for legalized currency, while bitcoin isn't legal currency by government, so bitcoin has no tax to pay.
As far as I know, government have rules about tax only for legalized currency, while bitcoin isn't legal currency by government, so bitcoin has no tax to pay.
I think in America, when you withdraw from an exchange, to real cash (fiat), you are supposed to claim the gains on your taxes just like you would for a stock or mutual fund. Someone correct me if I'm wrong on that.
bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .
Yeah you are right after governments legalize bitcoin they will start to device tools for collecting the tax for its usage, but still it will be very harder for the governments to collect tax from the users of bitcoin because bitcoin is anonymous currency.
It depends on what are you pertaining to. Tax from government or tax of transaction? I think bitcoin as of now have no tax since it isn't regulated by government yet and i think it is impossible to happen. If you are talking about the fee on transaction, it is not Tax but a transaction fee set by miner as payment for their effort in moving blocks and thus confirming your transaction.
bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .
Yeah you are right after governments legalize bitcoin they will start to device tools for collecting the tax for its usage, but still it will be very harder for the governments to collect tax from the users of bitcoin because bitcoin is anonymous currency and no one know that who is its user.
bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .
no we dont have to pay any tax to use this free currency it is our currency which is not related anywhere with government .we van use it anyhow and anywhere
As far as I know, there's no tax. I never read the laws of other countries though, but I never heard of paying taxes for BTC either. The only 'tax' you can have is the commission when you exchange BTC into any other currency and vice versa.
For now your right there is no country that has a laws for taxes for bitcoin.. but i think if we are use bitcoin just like pokemon how pokemon go trends right now maybe government will take action about this to add a laws about the taxes for bitcoin.. 
Bitcoins have a "tax" on transactions, which are fees, because it helps the miners to have a bit more Bitcoin in their pocket, while prioritizing your transactions and helping everything to move along smoothly.
As for tax on income with Bitcoin, the only tax that exists is one that is imposed by the government on any capital gains you might get from Bitcoin, and anything else that's similar to that.
but it might only be present in those countries who have legalize it. other wise as it is not legalized not regularize by any state therefore they have not yet impose tax on bitcoin. so in most of the area bitcoin is still tax free. As for tax on income with Bitcoin, the only tax that exists is one that is imposed by the government on any capital gains you might get from Bitcoin, and anything else that's similar to that.
As far as I know, there's no tax. I never read the laws of other countries though, but I never heard of paying taxes for BTC either. The only 'tax' you can have is the commission when you exchange BTC into any other currency and vice versa.
Short answer: YES
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
......if you live in the USA. It's impossible to give tax advise on an international forum.
Also, can we stop confusing taxation and fees. Bitcoin HAS NO TAX. A lot of posters are calling the Tx fee a tax. The VOLUNTARY fee is payment for service. Routing your transactions costs money and bitcoin is not a free service. If you want something delivered you have to pay for it. It could be a postcard or a package from Amazon, or a bitcoin. You are simply paying for the work and expense involved in moving your BTC, and it is no more a tax than a UPS shipping charge.
Very true or as MingLee above said, depending on how you define tax every thing everywhere in the world is taxed.
Short answer: YES
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
......if you live in the USA. It's impossible to give tax advise on an international forum.
Also, can we stop confusing taxation and fees. Bitcoin HAS NO TAX. A lot of posters are calling the Tx fee a tax. The VOLUNTARY fee is payment for service. Routing your transactions costs money and bitcoin is not a free service. If you want something delivered you have to pay for it. It could be a postcard or a package from Amazon, or a bitcoin. You are simply paying for the work and expense involved in moving your BTC, and it is no more a tax than a UPS shipping charge.
In mx country tgere is not any tax for bitcoin do i am really happy becaude of that.Omg abiut 30% tax in sweden omg wtf why so big fees omg are they crazy or what.In EU every country can choose if she will have bitcoin tax.
Its impossible that bitcoin will be have a tax by a government for the future. but we dont know what will happen in the future and maybe it will happen..
And i hope they can only get low tax if it will happen..
And i hope they can only get low tax if it will happen..
i never heard about this that either there is any tax on bitcoin any where in the world or not. but i think bitcoin is still tax free. and those countries who have accepted bitcoin as a currency they may be thinking about bitcoin to have tax on it.
There are taxes everywhere, they may be disguised as fees or whatever but it's always a tax for using a service or doing a thing or living in an area. A fee is just a nice word for a tax.Miner's fees are a tax for using the network, withdrawal fees are a tax by companies, everything has some sort of a tax attached to it.
It's like Benjamin Franklin said, "In this world nothing can be said to be certain, except death and taxes".
i never heard about this that either there is any tax on bitcoin any where in the world or not. but i think bitcoin is still tax free. and those countries who have accepted bitcoin as a currency they may be thinking about bitcoin to have tax on it.
Same here never heard that bitcoin has a tax.. and we don't love it to happen in the future.. and i hope it will not happen this following years..
Bitcoins they are just asking for miners fee for every transaction thats it.
Bitcoins they are just asking for miners fee for every transaction thats it.
Short answer: YES
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time......
......if you live in the USA. It's impossible to give tax advise on an international forum.
Short answer: YES
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time.
Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.
Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time.
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