do i have to pay tax on bitcoins ? - page 10.

nazzzzz

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Quote from: omer_parvez on September 30, 2016, 12:11:44 PM

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by gov on my bitcoin property ?

if you mean trans you need fee not tax

you can exchange bitcoin into prepaid cards and use it

you can exchange bitcoin into payeer ,payoneer ,......

you can exchange bitcoin into paypal or bank using exchange forum on bitcointalk (Dangerous )

Sylenth

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depends upon your country policies , if bitcoin is legal and accepted as alternate currency then there might be some laws about taxation upon it, but if bitcoin is not legal and as well as not illegal than you only need to pay the transaction fees of apps or website that convert your bitcoin into other currencies.

Flor1982

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Quote from: omer_parvez on September 30, 2016, 12:11:44 PM

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by gov on my bitcoin property ?

It will depend of your government policy especially if bitcoin is declared legal in your country. If their is policy that will require you to pay taxes on bitcoin then you should abide the law in pay the taxex to avoid consequences. I'm not against to tax the bitcoin as long as it was reasonable and legal because we need to show the world that bitcoin can improve a nations economy and one of these is thru bitcoin tax.

donGeilo

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It totally depends upon the country you are living in . Bitcoins does not have the concept of taxes but if you are using your bitcoins to covert them into fiat then there is a need to pay taxes depending upon the rules of a country's government.The rules and regulations of all countries are different so it is directly proportional to them. There is no need to pay taxes if you hold bitcoins in your wallets but the rest is dependent on your government.

HOSTONOID

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RodeoX

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Quote from: savushkinTA on October 03, 2017, 07:52:31 AM

If the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax

It is not that complicated. In the U.S. you owe tax on any money you make. Legal, illegal, any money at all. If you found the only know unicorn tooth and sold it, then you owe tax.

Some states even have formal taxes for illegal stuff.

savushkinTA

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If the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax

Snaic

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Each state may, at its discretion, establish taxes and fees for its citizens. Such taxes can be set for the profit that the citizen receives from carrying out various operations with the crypto currency. Here it is up to everyone to comply with the prescriptions prescribed by the state, or not. However, non-payment of taxes, depending on the unpaid amount, is usually a crime and provides for criminal liability.

suvo05

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It depends on the country you live. I have heard that Australia and Japan have made the bitcoin transaction legal in their country so their citizen have to pay tax for the transactions. And if you are converting your bitcoin into real money then you may have to pay tax while the transaction is done.

Oo ako to

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My country still doesn't take actions regarding with the use of bitcoin. I'm very confident to say that if I'm not paying tax on bitcoin, they can't create any charges against me.

Lieldoryn

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Yet to levy taxes on bitcoin user is only in the plans of governments. I don't know of examples of that somewhere in there are laws regulating the utilization of bitcoins. As soon as you change bitcoins for Fiat you get into the zone of action of the tax legislation. That is why it is very important now to promote the use of bitcoin directly. Bypassing the heat exchangers.

Bitcocoin

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I heard that some countries are paying taxes, Is there anyone living in Spain?I think it's paid in Spain.

fanou1989

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no it's wrong. no tax in bitcoin only the fee for transaction that you should pay for every transaction

jaocoincrypto18

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Quote from: omer_parvez on September 30, 2016, 12:11:44 PM

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by gov on my bitcoin property ?

It will depend on your country policy especially if bitcoin is legal in your country, if their is a policy that there is a tax imposed for every bitcoin tax usage then of course you are oblige to comply but if bitcoin is not declared as legal to use in your country then no need to pay bitcoin taxes at all because that is not in their policy.

Darklinkz

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As long as they don't have any actions implemented yet pertaining to taxing bitcoin, you don't have to be worried. I know they will find a way to do it in the future so be smart and find a way where you won't be taxed.

Harlot

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How did you get or obtain your Bitcoin? Is it some sort of income? Then yes Bitcoin is taxable under income tax as even it is a different form of currency it still counts as income. Regardless of what form you receive your income it still will be counted as taxable. And if Bitcoin is not taxable even Billionaires will convert their wealth into Bitcoin which we don't see up to now. Another way to tax Bitcoin is under capital gains tax where you profit from trading and it varies from country to country.

illinest

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Quote from: taxmanmt5 on September 27, 2017, 01:42:03 PM

It is a legal commodity and you would pay taxes on profits created from a commodity trade. I assume that your question means that you have made no money and are just sitting on the coins, so that would mean no. If, in the future, you do manage a profit, then that is the taxable amount and that is handled as a commodity profit.

That's probably true in a lot of jurisdictions, but not all. Bitcoin is treated as property in the US, so taxes are handled the way that you mention. However, I've seen many non-Americans state that their countries have deemed Bitcoin not property or a commodity, but rather a currency. Supposedly, some people don't need to pay taxes on capital gains in that case. I don't know the details, though. All I know is that capital gains taxes are brutal for me in the US.

Roman Abraham

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Quote from: omer_parvez on September 30, 2016, 12:11:44 PM

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by gov on my bitcoin property ?

Actually, I think bitcoin is a type of investment that's need taxed at all, because it adopts a peer-to-peer system, so it would be quite difficult to take taxes from bitcoin, taxes on bitcoin usually depend on the government that has legalized bitcoin as a legal currency in their country. so I think it's possible that bitcoin is taxed because of the policies taken by the local government.

taxmanmt5

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It is a legal commodity and you would pay taxes on profits created from a commodity trade. I assume that your question means that you have made no money and are just sitting on the coins, so that would mean no. If, in the future, you do manage a profit, then that is the taxable amount and that is handled as a commodity profit.

spngebob

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Quote from: BurtW on September 21, 2017, 10:14:08 AM

Quote

do i have to pay tax on bitcoins ?

tldr: yes

Yes? Hm. I think it depends on country, you can't really answer this with simple "yes". For example, in Europe you don't have to pay tax on bitcoins, but when you are exchanging it to your local currency you have to pay tax. In my country you can have as many bitcoins as you like and you won't pay any tax.

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