Do Bitcoins have Tax?? - page 45. | Bitcointalksearch.org

btcdevil

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Quote from: romero121 on February 11, 2016, 04:24:06 PM

There is no tax imposed on bitcoin. Some countries have strict regulations which are just to reduce the use of bitcoin. Tax issues has not arise yet just because bitcoin is decentralized.

I think their are some country who have started taxation on bitcoin as they have accepted the bitcoin. but their are some country who are still in confusion in bitcoin technology and not given any detail on bitcoin. even bitcoin being decentralized if you want you can show the taxation as live trading in Shares and calculating the profit and submitting the tax. But be carefull as some country have declared bitcoin as illegal in that country you should not show anything about bitcoin in your accounting if not you will be in problem.

so each and every country have their own rules on bitcoin.

heldertb

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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??

only bitcoin use internet online not accept government now but now bitcoin have no any tax maybe some time after will come bitcoin have tax

DrLove2048

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I would say for america if you were to treat it as an investment and pay the capital gains on it you should be okay (I suppose, this is not actual financial advice ha) Cool

Raimonn

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Most countries don't tax bitcoins because its like money, and fiat money isn't taxed. What is taxed is the things that you can buy with fiat money or with bitcoins. If you bought anything, what you are buying is taxed equal if payed with bitcoins or payed with bitcoins. Few countries tax them as inversion, you will need to pay a tax for your profits when you trade it.

YTBitcoin

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In my country there is no any tax on holding bitcoin, as currently there is no any management by the government or any other financial body for bitcoin, and if the systems for it were organized then it will have the same taxes as other currency as it is also a form of currency, Virtual Currency.

DimensionZ

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Shit, did I leave the stove on?

If Bitcoin gets classified as a digital currency maybe there will be a minimal taxable threshold of annual profit in Bitcoins which you will need to declare.

ShrykeZ

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Most countries don't really have tax regulations for Bitcoin. You can read more about UK's stance here:
https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies

tommorisonwebdesign

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There is not tax up here in Canada. I vaguely remember however there being taxes currency in Brazil. I agree that Bitcoin is money and should not be taxed. I do think however governments should leave the currency alone. The fed is stealing a lot of money from the working class.

romero121

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There is no tax imposed on bitcoin. Some countries have strict regulations which are just to reduce the use of bitcoin. Tax issues has not arise yet just because bitcoin is decentralized.

Struble

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In europe there is no tax for the bitcoins at all what is pretty sweet.
Altough in america its more difficult to gain bitcoins with higher amounts.

rik3

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if you are saying for the government then this questions is mainly to exchange the bitcoins into the faint but if we say about other thing as trading and mining charges then i dont think we have any excess tax like our real life :p even our mining fees is choosable too

Pk880058

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In my country still their is no detail on Bitcoin, so their is not tax still on Bitcoin, if i want to show the profit and loss then it will be as unsecured profit or loss. Other country taxation is how dont know about it.

croato

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From where i am, Bitcoin is still considered as monopoly money by central bank and authorities, so there are no extra taxes on it. Personally, i would not mind to pay taxes on my earnings related to it if authorities would bit regulate market and prevent flood of scams (which hurt Bitcoin lot more than some percentage of eventual tax on it).

russian_pete

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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.

There's no such thing as needing to declare it! How would they prove you got an digital asset? The only case you would need to do it is if you convert it to fiat...

Gloober

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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.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

In my country, there ain't any taxes and everybody here is warned not to trade Bitcoins as it is the most volatile currency and our Reserve Bank says that "we should not invest what we cannot afford to lose"... Wink

blackraven1425

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In my country we are supposed to declare to "IRS" every bitcoin we own as a "financial asset". Well, who would be stupid enough to do that? That just doeasn't make sense.

partysaurus

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Quote from: calkob on February 11, 2016, 02:10:17 PM

I dont think there is a tax on bitcoin yet in the Uk but in the future there my be some sort of cgt, but in the end of the day if you may a income from bitcoin you will have to pay income tax..... Embarrassed

in sweden its 30% :/ for the profit you make , and that sucks just found out months after i actualy bought them lol.

xslugx

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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??

Bitcoin is a currency. You don't have taxes on currencies but on what you do with it!

Even if you're not taxed, you'll have to use btc. So here you'll pay indirect taxes and the company behind will pay the rest of the taxes Wink

calkob

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I dont think there is a tax on bitcoin yet in the Uk but in the future there my be some sort of cgt, but in the end of the day if you may a income from bitcoin you will have to pay income tax..... Embarrassed

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