Do Bitcoins have Tax?? - page 40. | Bitcointalksearch.org

Boosterious

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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??

and now i'm also know about that,something hav ruin my mind before i dont know about bitcoin tax,and i'm sastified that btcoin have no tax,and i'm sure transactions tax not bigger as bitcoin tax if it available.

pooya87

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Quote from: Lust on April 15, 2016, 12:10:43 AM

No currency in the world has tax only the goverment has it

fact: In some countrys bitcoin are not accepted as a currency.

that is true, but in the past that didn't stop the government and IRS from prosecuting people who did a business online and was accepting bitcoin as payment, because they didn't pay taxes for their business.

Lust

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No currency in the world has tax only the goverment has it

fact: In some countrys bitcoin are not accepted as a currency.

BeGoods

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Quote from: Hirose UK on April 12, 2016, 07:25:38 PM

Quote from: Gloober on February 11, 2016, 03:15:12 PM

Depends on what country you're living in. You'd have to check if you need to.
Where I'm from when you're into bitcoin you have to report that you are and how much you've made, depending on how much profit you got, you'd have to pay taxes over that.

I thought taxes the guy meant that were fees, but I was wrong. and I thought bitcoin has not taxes, but it has.
well I think it means that bitcoin is legal already in your country if you have to pay taxes.

In my country we don't need to pay taxes of bitcoin.

That's why the government will never allow bitcoin exists and is developing in their country. and prohibit/illegal the use of bitcoin. because the government can not give taxes to bitcoin because bitcoin is very secret and very anonymous identity and allows a lot of the corruptors flexibility to use bitcoin for illegal activity

Viyamore

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Yes ,definitely ,but it dependsnalso in what country because like on my country the bitcoins withdrawals .cash in also have a tax on it.. So better when doing small transaction it is better to do a big one to not loose big amounts on tax or fees.

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Quote from: niall05 on April 13, 2016, 01:55:16 AM

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.

yes its true,bitcoin never have tax,and i think this is why people love bitcoin,rich people will glad to have bitcoin because its not have tax,but in future i think bitcoin will have tax soon,its prevent people to create money laundering from bitcoin.

diodio5

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Quote from: niall05 on April 13, 2016, 01:55:16 AM

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.

bitcoin is anonymous people will not know that address have 1000 BTC has had who? so impossible to provide tax against it.
satoshi Nakamoto has many bitcoin I'm sure of it. but no one knows the number amount of bitcoin he has. if he was told to pay a tax of bitcoinnya. of course it will be very expensive

Wendigo

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I am not a legal expert in any way but I guess online retailers that are accepting Bitcoin payments must include their profits in the annual tax report as it's revenue generated by them. As for the regular user I don't think it's compulsory to include your Bitcoin stash in your tax report. All Bitcoin enthusiasts are so eager to keep their money secret haha Cheesy

niall05

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I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.

Hirose UK

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Quote from: Gloober on February 11, 2016, 03:15:12 PM

Depends on what country you're living in. You'd have to check if you need to.
Where I'm from when you're into bitcoin you have to report that you are and how much you've made, depending on how much profit you got, you'd have to pay taxes over that.

I thought taxes the guy meant that were fees, but I was wrong. and I thought bitcoin has not taxes, but it has.
well I think it means that bitcoin is legal already in your country if you have to pay taxes.

In my country we don't need to pay taxes of bitcoin.

rababo

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Since tax is organised by goverment so it depends on every country.
Bitcoin can be considered as digital currency, so I'm sure there is country that have rules about it.

BitcoinBlackjack

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You absolutely need to speak with your accountant regarding this! The laws are different for every country and state.

silly_ninja

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Well some people wont be able to exchange their porfolio of crypto into fiat as the banks and all financial system will ask where the money camed from,those who exchanged all their coins to fiat and made huge ammount lost a part to the country as fees,they clean the money paying the interest around the financial market.

gregyoung14

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Quote from: Laosai on February 20, 2016, 09:56:56 AM

Quote from: watashi-kokoto on February 20, 2016, 09:29:15 AM

Bitcoin does not operate within a national boundaries. In this regard it's similar to bank notes and it's above the law of every individual nation state.

If you want to, you can pay taxes to your government, or some other government if you don't like yours. In any case, the payment activity you're doing is happening on a mining facility. The company running the mining facility already pays taxes for electricity, staff, so it's pointless to pay tax twice for the same already taxed service.

Exactly, as being international, btc can't be limited by national boundaries!

It means you don't pay direct taxes, though you're still subject to indirect taxation of course.

Come to think of it. There are a lot who has already used cryptocurrencies for their money laundering.

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Quote from: Laosai on February 20, 2016, 09:56:56 AM

Quote from: watashi-kokoto on February 20, 2016, 09:29:15 AM

Bitcoin does not operate within a national boundaries. In this regard it's similar to bank notes and it's above the law of every individual nation state.

If you want to, you can pay taxes to your government, or some other government if you don't like yours. In any case, the payment activity you're doing is happening on a mining facility. The company running the mining facility already pays taxes for electricity, staff, so it's pointless to pay tax twice for the same already taxed service.

Exactly, as being international, btc can't be limited by national boundaries!

It means you don't pay direct taxes, though you're still subject to indirect taxation of course.

I don't know where you guys got your law degrees, but in the U.S. that is absolutely no defense at all. "Because it has no national boundaries"? So gold has no tax also? And as far as double taxation consider this. If I earn a dollar then I must pay tax on that income. Now if I hire you for that same dollar then it is taxed again. In fact if that dollar floats around the economy for years paying lots of people then it is taxed over and over again, not just once. Basically any wealth you make is taxable. Even if you find a gold ring with your metal detector (I think I have read this example) technically you must pay tax on that ring.

Laosai

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Quote from: xuan87 on February 20, 2016, 09:52:09 AM

in my country bitcoin doesnt has a tax if you just hold it in your wallet, when you convert it into fiat, the government will count it as income, and you got to pay the tax

Yeah but you don't pay taxes on btc here! You pay taxes on fiat in reality Wink

n0ne

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To my concern I haven't heard of tax imposed on bitcoin. Just the taxes imposed for electric charge consumption has a effect on the bitcoin mining which at times leads to reduced mining strategies

Laosai

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Quote from: watashi-kokoto on February 20, 2016, 09:29:15 AM

Bitcoin does not operate within a national boundaries. In this regard it's similar to bank notes and it's above the law of every individual nation state.

If you want to, you can pay taxes to your government, or some other government if you don't like yours. In any case, the payment activity you're doing is happening on a mining facility. The company running the mining facility already pays taxes for electricity, staff, so it's pointless to pay tax twice for the same already taxed service.

Exactly, as being international, btc can't be limited by national boundaries!

It means you don't pay direct taxes, though you're still subject to indirect taxation of course.

xuan87

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in my country bitcoin doesnt has a tax if you just hold it in your wallet, when you convert it into fiat, the government will count it as income, and you got to pay the tax

srinikethan

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as far as i know there is no tax for bitcoins,but in my knowledge there are some countries wic take tax for bitcoins..so according to me it depends on which country you live in!!:D

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