Do Bitcoins have Tax?? - page 9. | Bitcointalksearch.org

Labumi

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Quote from: hurain on December 31, 2016, 09:10:03 AM

Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

but still as not a single country turn bitcoin as legal currency therefore there is no tax on it and if the government will consider bitcoin as legal currency then they will be thinking about and will be doing planing for it to impost tax on it.

Yup, would never have made the Government's reason for bitcoin give tax to the user bitcoin. Because the bitcoin officially has not been accepted by most countries in the world, so if the Government imposes taxes to all users of the bitcoin then seconds was also that bitcoin is officially accepted by the Government. And it was the beginning where everyone will surely be more confident to use bitcoin, because indeed the Government indirectly accept bitcoin through enforcement of tax

hurain

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Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

but still as not a single country turn bitcoin as legal currency therefore there is no tax on it and if the government will consider bitcoin as legal currency then they will be thinking about and will be doing planing for it to impost tax on it.

care2yak

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only goods and services get taxed. bitcoin is a currency only in digital form. governments are probably trying to figure out how to tax goods and services that are paid for in bitcoin...

futurebit640

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Quote from: Md Saad on December 31, 2016, 04:17:03 AM

No bro it is a prohabited currency....So it is a tax free way

Yes, it's illegal currency it doesn't have any tax. And in future also I think it will take a long time to get approved by our all governments. Until and unless if we do not pay tax to government they will not accept this Bitcoin as a legal currency.

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No bro it is a prohabited currency....So it is a tax free way

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Quote from: Sithara007 on December 31, 2016, 01:49:56 AM

Quote from: stadus on December 27, 2016, 07:26:09 AM

If ever the government will regulate bitcoin, it cannot still be fully regulated because we will continue to be anonymous since the system is designed to be decentralized, once decentralized it will connect us with being anonymous and maybe when the government will make strict polity towards it, people will not continue to support bitcoin.

At the most, the government can regulate the conversion of BTC to fiat, and vice versa. It is not possible for the government to monitor and regulate Bitcoin transactions from one wallet to another.

And that's the only way they can regulate bitcoin and I guess he is talking about the price movement of bitcoin and as well its transactions together with the production of bitcoin. But whatever it is, those exchange sites that are being registered to their local government are the ones who are responsibly paying tax for their profit in bitcoin, not bitcoin itself.

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Quote from: Vaskiy on December 30, 2016, 06:27:04 PM

Tax free usage seems to be one among the major attention seeker, but when taxes were imposed sure government holds control over bitcoin. This will make it similar to other currencies, only it gets the digital form. Till date taxation is not possible with bitcoin transactions.

Governments won't ever have the ability to directly tax Bitcoin. It doesn't really matter what you are using. If you have something with value, then it simply adds up to your wealth. If it allows you to buy and sell with profits, then it is like you are making profit in general. In both cases you have to pay tax over what you hold and gained in profit. Name of the tool isn't important, the value that it holds is. Difference here is that Bitcoin simply allows people to hide a part of their wealth, where the government doesn't know who or what is holding which amount. They only know it if you declare everything in a honest manner. But who is gonna do so?

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Quote from: stadus on December 27, 2016, 07:26:09 AM

If ever the government will regulate bitcoin, it cannot still be fully regulated because we will continue to be anonymous since the system is designed to be decentralized, once decentralized it will connect us with being anonymous and maybe when the government will make strict polity towards it, people will not continue to support bitcoin.

At the most, the government can regulate the conversion of BTC to fiat, and vice versa. It is not possible for the government to monitor and regulate Bitcoin transactions from one wallet to another.

guoyu78

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Quote from: JeffBrad12 on July 31, 2016, 01:27:33 AM

Quote from: chixka000 on July 30, 2016, 11:13:10 PM

as far as i know their is no tax in bitcoin transaction but some site uses fees for their services , but i don't think so that this fees are to be or can be considered as a tax from your transaction

Getting some fees for your transaction it's same means for you getting a tax for your transaction, i think the tax and fees not having a large different in their definition but maybe some people is having different definition about that, for me tax and fees is same.

you can not say that the fees and tax are same thing , if owner get extra charges on anything then we say it fees, and if the government get charges we can say the tax mean these are too different from each other .

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Quote from: BeManga on December 30, 2016, 07:40:37 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??

if you talking about tax in the country it goes in the goverment to develop the country
but in bitcoin the tax is the transaction fee and it goes to miner

Yes Bitcoin don't have any personal tax When we sell or buy bitcoin from any company they charge some percentage in the name of transaction tax. But it will not go government it will go to the company account. I have one doubt we will buy coins in online so we send money to the company account, The company how they show this transaction to the government I don't know. Because if Bitcoin involves means it's illegal transaction. I don't know how this process will work.

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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??

if you talking about tax in the country it goes in the goverment to develop the country
but in bitcoin the tax is the transaction fee and it goes to miner

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Quote from: justdimin on December 30, 2016, 04:36:36 PM

Quote from: stadus on December 27, 2016, 07:26:09 AM

Quote from: lOvE mE forEvEr on December 27, 2016, 06:03:41 AM

Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

If the government approved, I think the country must accept bitcoin as one alternative payment. For now, I sure this is impossible, because can make other problems and regulations.

If ever the government will regulate bitcoin, it cannot still be fully regulated because we will continue to be anonymous since the system is designed to be decentralized, once decentralized it will connect us with being anonymous and maybe when the government will make strict polity towards it, people will not continue to support bitcoin.

It is true that many people will lose interest in bitcoin if governments start controlling it, because we are using in the first place because it is not controlled even it is still anonymous.

But I am pretty sure if by any mean, it was used by government they will use it to get taxes off of people which will then make like any other currency out there.

Tax free usage seems to be one among the major attention seeker, but when taxes were imposed sure government holds control over bitcoin. This will make it similar to other currencies, only it gets the digital form. Till date taxation is not possible with bitcoin transactions.

justdimin

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Quote from: stadus on December 27, 2016, 07:26:09 AM

Quote from: lOvE mE forEvEr on December 27, 2016, 06:03:41 AM

Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

If the government approved, I think the country must accept bitcoin as one alternative payment. For now, I sure this is impossible, because can make other problems and regulations.

If ever the government will regulate bitcoin, it cannot still be fully regulated because we will continue to be anonymous since the system is designed to be decentralized, once decentralized it will connect us with being anonymous and maybe when the government will make strict polity towards it, people will not continue to support bitcoin.

It is true that many people will lose interest in bitcoin if governments start controlling it, because we are using in the first place because it is not controlled even it is still anonymous.

But I am pretty sure if by any mean, it was used by government they will use it to get taxes off of people which will then make like any other currency out there.

stadus

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Quote from: lOvE mE forEvEr on December 27, 2016, 06:03:41 AM

Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

If the government approved, I think the country must accept bitcoin as one alternative payment. For now, I sure this is impossible, because can make other problems and regulations.

If ever the government will regulate bitcoin, it cannot still be fully regulated because we will continue to be anonymous since the system is designed to be decentralized, once decentralized it will connect us with being anonymous and maybe when the government will make strict polity towards it, people will not continue to support bitcoin.

lOvE mE forEvEr

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Quote from: BeGoods on December 27, 2016, 05:42:59 AM

Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

If the government approved, I think the country must accept bitcoin as one alternative payment. For now, I sure this is impossible, because can make other problems and regulations.

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Quote from: dotajhay on December 27, 2016, 03:17:02 AM

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 doesn't have a tax but it has a cashout fee depends on the website you invested like trading sites it has 5% to 10% fee when you get your money but dont have tax in the government, government not holding it because it is from the internet like internet stores that has no tax.

That's pretty normal dude, but the big difference is, in cash out fee it is fix regardless of the amount you will cash out but with tax, there's a bracket of taxation depending on your total income earned.

BeGoods

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Quote from: icqcointokenwallet on December 27, 2016, 03:48:10 AM

BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

but the government will not know how many bitcoin address you have mate and they will not know where is it your bitcoin address? bitcoin will never fit to apply the tax mate. so do not push it

icqcointokenwallet

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BTC Paying taxes on any earned income or anything with value is good. You can record all blockchain transactions showing proof. Pay your tithes, pay your taxes. BTC

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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 doesn't have a tax but it has a cashout fee depends on the website you invested like trading sites it has 5% to 10% fee when you get your money but dont have tax in the government, government not holding it because it is from the internet like internet stores that has no tax.

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