Topic: Do Bitcoins have Tax?? - page 6. (Read 40207 times)
Bitcoin can never have tax ever, only have charge in every transaction that we are going to make in the trading sites. But not on this matter itself of course.
i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.
I think bitcoin even though the government adopted in the future. then the tax system for bitcoin could never be enforced, as you can see that bitcoin anonymous, how to impose a tax to users bitcoin?
i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.
I think bitcoin even though the government adopted in the future. then the tax system for bitcoin could never be enforced, as you can see that bitcoin anonymous, how to impose a tax to users bitcoin? 
There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.
There is no tax in my country right now because bitcoin has no bank in my country for crypto currency but government collected taxes through online wallet website which has an options of bitcoin to fiat currency convertion and for cash out transactions online for only one bank withdrawal. Nowadays only one bank in my place is accepting bitcoin cash out using egivecash option for atm machine withdrawal and the transaction is very fast and convenient.
There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.
There is no tax in my country right now because bitcoin has no bank in my country for crypto currency but government collected taxes through online wallet website which has an options of bitcoin to fiat currency convertion and for cash out transactions online for only one bank withdrawal. Nowadays only one bank in my place is accepting bitcoin cash out using egivecash option for atm machine withdrawal and the transaction is very fast and convenient.
There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.
Here in my country there is no tax we are just withdrawing here without any payment unless if you are transferring money into your bank accounts.. I think in your place i heard that bitcoins users in india are paying large fee everytime they are buying bitcoin because of difficulty from the banks..
I just heard it few months ago when the banks crisis pop up in my email.
There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.
If I pay bitcoin tax, where is the anonymity? It means the government knows where I live, my wallet address, probably the exchange I use and the amount I used in the exchange. If the government should know that much then they can control the use whenever.
I don't think it means any of that. All you have to do is report that you bought them, then spent them, and if you took a loss or made a gain. Just like you do with fiat. Hell, going along with the system and reporting all of your bitcoin transactions might even be a good thing. It could show the government that this thing is for real. And since it's digital by nature, keeping records will be easy, there are already a lot of services out there that help you with it. I just wonder how many reports I will have to make while trying to give the government my money.
If I pay bitcoin tax, where is the anonymity? It means the government knows where I live, my wallet address, probably the exchange I use and the amount I used in the exchange. If the government should know that much then they can control the use whenever.
I don't think it means any of that. All you have to do is report that you bought them, then spent them, and if you took a loss or made a gain. Just like you do with fiat. Hell, going along with the system and reporting all of your bitcoin transactions might even be a good thing. It could show the government that this thing is for real. And since it's digital by nature, keeping records will be easy, there are already a lot of services out there that help you with it. I just wonder how many reports I will have to make while trying to give the government my money.
The biggest problem in my country, which belongs in Eurozone, is the legislation about bitcoin. We follow only a regulation of European Union where bitcoin falls into a "grey" framework because according European legislation is not electronic money but something as agreement between two parties. So if I buy a car with bitcoins I really don't know how can I prove that bitcoins is money so as to pay the corresponding tax.
It will take so long before bitcoin will be tax or maybe will not be tax, the government must make a concrete law that can also be adopted as an international law as we are using an international currency. However, the problem lies on the control, who will control bitcoin when it's in the internet and decentralized, that problem must be solve first. 
The biggest problem in my country, which belongs in Eurozone, is the legislation about bitcoin. We follow only a regulation of European Union where bitcoin falls into a "grey" framework because according European legislation is not electronic money but something as agreement between two parties. So if I buy a car with bitcoins I really don't know how can I prove that bitcoins is money so as to pay the corresponding tax.
i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.
Governments don't have to directly mention Bitcoin as being something that can be taxed. It's very simply, if you have $100,000 sitting in Bitcoin, then it adds up to your wealth, and over you wealth you have to pay tax. If you use these coins to trade with, and you make whatever percentage of profit, then you have to pay tax over these profits as well. And the $100,000 figure I mentioned was just an example as it can be any amount from a decent level. Other than that, governments will not adopt Bitcoin. That's something you should forget about.
That's what is so curious to me though! The fact that governments won't and I don't see how they could possibly adopt it. It's so curious to me because in my head, bitcoin is going to change the world. It absolutely will, it just needs time. Time for people to learn it, to trust it, and to adopt it. So with that fact planted in my brain and assuming that world becomes a reality in the future, there are only two equally wild scenarios that could possibly then play out. Scenario A is the scenario in which the US government adopts bitcoin. This scenario we know to be impossible. This only leaves scenario B in which a financial revolution takes places, and only god knows what happens then. It's what happens when an unstoppable force meets an immovable object.
Am I crazy, or am I not the only one who feels this way?
i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.
Governments don't have to directly mention Bitcoin as being something that can be taxed. It's very simply, if you have $100,000 sitting in Bitcoin, then it adds up to your wealth, and over you wealth you have to pay tax. If you use these coins to trade with, and you make whatever percentage of profit, then you have to pay tax over these profits as well. And the $100,000 figure I mentioned was just an example as it can be any amount from a decent level. Other than that, governments will not adopt Bitcoin. That's something you should forget about.
i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it.They can charge taxes by taxing you when you being using it as a means of making money. How could they figure this out? Read up on what is happening with the US government and Coinbase. They want access to the records of Coinbase to see if anyone in the US has been avoiding paying taxes with bitcoin.
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance
Yeah but the fact is that coinbase can easily avoid that.
Nothing in btc world is... material dependant. You can put a btc activity and company more or less anywhere in the world (except for mining)
So that means there is nothing governments can do to put your company in a 0 tax country or even in international waters!
They can try as much as they want, they can't tax you if you don't want to.
But you can't avoid paying taxation on value. Because it's the company creating the product you're buying that will pay it and add it to your product price!
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it.They can charge taxes by taxing you when you being using it as a means of making money. How could they figure this out? Read up on what is happening with the US government and Coinbase. They want access to the records of Coinbase to see if anyone in the US has been avoiding paying taxes with bitcoin.
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it.They can charge taxes by taxing you when you being using it as a means of making money. How could they figure this out? Read up on what is happening with the US government and Coinbase. They want access to the records of Coinbase to see if anyone in the US has been avoiding paying taxes with bitcoin.
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it.They can charge taxes by taxing you when you being using it as a means of making money. How could they figure this out? Read up on what is happening with the US government and Coinbase. They want access to the records of Coinbase to see if anyone in the US has been avoiding paying taxes with bitcoin.
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it.They can charge taxes by taxing you when you being using it as a means of making money. How could they figure this out? Read up on what is happening with the US government and Coinbase. They want access to the records of Coinbase to see if anyone in the US has been avoiding paying taxes with bitcoin.
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Most governments have already regulated Bitcoin but you don't have to pay any taxes. How can they even charge taxes on Bitcoin, it is a cryptocurrency after all. If Bitcoin ever does take off, then governments might start charging taxes on it. Jump to: