you no need to pay any tax on Bitcoin. while you shop with Bitcoin or some time use Bitcoin in the payment process, exchanges charge few amount as a fee for your transactions.
For the record, that is absolutely incorrect. In most places on Earth you will owe a tax of some sort. In the USA it is capitol gains tax. No question about it. 
Topic: do i have to pay tax on bitcoins ? - page 12. (Read 28295 times)
you no need to pay any tax on Bitcoin. while you shop with Bitcoin or some time use Bitcoin in the payment process, exchanges charge few amount as a fee for your transactions.
You usually have to pay taxes on coins that were converted to fiat. As far as the tax on held coins go, you don't have to because it's unexecutable by the government, since addresses are not linked to identities, and I doubt this will ever change. They may say that you should pay, but they still won't be able to track you, as it would cost them too much. It's much easier for them to track the flow of fiat money.
Different countries have different laws but as far as I know, this rule is exactly what's in effect in the US: when you sell bitcoins for USD after having bought them for USD, you must report so that the government knows how much you've won from this transaction.
Each country certainly has different policies and regulations, as well as tax laws. And for bitcoin tax certainly has limitations, because the legality of bitcoin is currently not official and only a few countries that declare legality. And not necessarily have a rule about bitcoin taxes. About bitcoin tax certainly has a difference, whether the country already has a taxpayer regulation on bitcoin Or not yet.
it depends on the country in which you are living and as per government rules and regulations regarding bitcoin
Well, I think it depends on what country you from. Obviously, different countries have different regulations. In my country you don't have to pay tax on Bitcoin.
As of now there is no regulating authority which says you to pay tax but in near future you have to pay capital gain tax. It's time to earn for you with full freedom until governments build rules and regulations on how to monitor and handle.
You usually have to pay taxes on coins that were converted to fiat. As far as the tax on held coins go, you don't have to because it's unexecutable by the government, since addresses are not linked to identities, and I doubt this will ever change. They may say that you should pay, but they still won't be able to track you, as it would cost them too much. It's much easier for them to track the flow of fiat money. 
As of now there is no regulating authority which says you to pay tax but in near future you have to pay capital gain tax. It's time to earn for you with full freedom until governments build rules and regulations on how to monitor and handle.
Taxes is very controversial topic in cryptocurrencies area. Last time USA government interventions in traders private life has become more frequent. News about new court cases are on the first mainstream pages.
As of now there is no regulating authority which says you to pay tax but in near future you have to pay capital gain tax. It's time to earn for you with full freedom until governments build rules and regulations on how to monitor and handle.
Bitcoin is not a fiat currency with legitimate status in any country, but often remains attached to the tax liability rules regardless of the medium of money used. There are various laws in many countries that may result in income taxes, sales, payroll, profits, or other forms of tax liability arising with Bitcoin.
Around the world, tax establishments have tried to convey forth rules on bitcoins. Rules and taxation differ from country to country but there are some transactions that will lead to taxes:
• Trade Bitcoin, accepted from someone to a third party.
• Utilizing Bitcoin, which one might have mined, to buy things or services.
• Utilizing Bitcoin, accepted from someone, to purchase things or services.
• Retailing Bitcoin, mine personally, to a third party.
• Trade Bitcoin, accepted from someone to a third party.
• Utilizing Bitcoin, which one might have mined, to buy things or services.
• Utilizing Bitcoin, accepted from someone, to purchase things or services.
• Retailing Bitcoin, mine personally, to a third party.
Some exchanges started giving away the identity and balance of the account holders.
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 ?
The first question - Which country are you from?
Laws and taxation rules vary from country to country.
I think this is correct. First things first, you have to indicate your country and the its laws, well, if there are any, related to taxation on virtual modes of payment such as bitcoin. Because there are countries for sure, a great many of them, that actually do not have any taxation laws to which the classification of bitcoin as a taxable property might belong.
I don't know with your country but here in the Philippines at least, we have income tax. The basic law on income tax basically says that income from individual taxpayers are subject to tax regardless of how and from where it is derived. So I think it also covers bitcoins if you earned them through trading and the like.
However, it is hard to trace and the Bureau of Internal Revenue here might not be updated regarding bitcoins and other cryptocurrencies and so they are not really keen on pursuing taxes on such properties.
Hi all,
Please check cointracking website it is a good tool to help you calculate your capital gain.
If you decide to go with a premium subscription, please copy paste this link, you will get 10 % off:
https://cointracking.info?ref=B399866
I will get a cut out of this, and it will help me out a lot and you still get your 10 % off.
Victor
Please check cointracking website it is a good tool to help you calculate your capital gain.
If you decide to go with a premium subscription, please copy paste this link, you will get 10 % off:
https://cointracking.info?ref=B399866
I will get a cut out of this, and it will help me out a lot and you still get your 10 % off.
Victor
If it is without tax what is the reason ...?
Nothing that has value is without tax these days. Read about capital gains and you'll know why you have to pay. Check your local tax office for details, maybe you won't have to pay because you're under income tax threshold. For instance in the UK it's £10k.
If it is without tax what is the reason ...?
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 ?
Each country has a different tax policy and so does bitcoin taxes,perhaps if in some countries that declare legal bitcoin should have a tax regime imposed on bitcoin by government.
But this is clearly different from state that prohibits bitcoin,there appears to be no regulation Government for bitcoin taxes
But this is clearly different from state that prohibits bitcoin,there appears to be no regulation Government for bitcoin taxes
Of course, you will pay the specified taxes from each region so every transaction will be taxed by the government
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 ?
Read the thread.It is pointless to ask this question without stating what country you live in.
Read the thread.
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