do i have to pay tax on bitcoins ? - page 14.

BurtW

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Quote from: noone000 on May 22, 2017, 11:50:38 PM

Lets say a decent portion of your income is earned through bitcoins, be it bitcoin trade, gambling, free lance stuff, etc. When filing for your tax returns and that kind of stuff, do we have to state how many bitcoins you have made through these methods? I know in my country, you have to let the government know how much money you make annually so they can place you in the appropriate tax bracket. If so, how would the government be able to verify that you are being truthful? I would assume the anonymity of the BTC would make this fairly difficult.

Since you asked a question I will assume for the moment that you are not just another piece of shit thread spammer with a paid signature.

What country do you live in?

If you do not return to check for an answer to your question and answer mine then you are, of course, just another piece of shit thread spammer with a paid signature.

noone000

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Lets say a decent portion of your income is earned through bitcoins, be it bitcoin trade, gambling, free lance stuff, etc. When filing for your tax returns and that kind of stuff, do we have to state how many bitcoins you have made through these methods? I know in my country, you have to let the government know how much money you make annually so they can place you in the appropriate tax bracket. If so, how would the government be able to verify that you are being truthful? I would assume the anonymity of the BTC would make this fairly difficult.

Gelap

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Quote from: BellaBitBit on October 05, 2016, 06:15:20 PM

Bitcoin is definitely taxable. If you sell all of your bitcoin for USD you pay a tax on the profits. Make sure to check with your local government tax office before failing to pay taxes.

Yes i agree with that
Of course taxable bitcoin
Every one of our transactions must be a slice.

Amph

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Quote from: moooonu on May 19, 2017, 08:54:20 AM

Actually paying tax depends on your Government's policy. If they take external source of income in tax boundaries then you have to pay tax as you earn from bitcoins.

capital gain is taxed everywhere as far as i know, the same is true for your income per year, if it exceed a certain threshold, at least here in italy it work like that

but recently it seems that you have not to pay anything here, to exchange bitcoin in fiat, unless you don't exceed a certain amount per week, still not very clear, they don't even know how to see bitcoin...

i think i'll go ahead, and don't do any tax return for now, the amount i exchanged is very low, it should not arasi any problem

BurtW

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Quote from: stergium on May 20, 2017, 01:42:46 PM

to me i think those countries who do not have declare bitcoin as legal currency, they do not have to pay tax on bitcoin, and therefore i do not think that still a single country is collecting tax on bitcoin. may be in future when they will consider bitcoin as legal currency then they may start collecting tax on bitcoin.

You obviously don't know what the fuck you are talking about you piece of shit thread spammer.

stergium

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Quote from: marketone on May 20, 2017, 07:01:03 AM

Quote from: zulkarnaen on May 10, 2017, 09:30:10 AM

Paying taxes is a duty of every citizen, but each country certainly has different rules about tax payments in this case bitcoin tax, although there are some countries that require the income taxpayers earned through bitcoin

I agree many countries still not charging any taxes on the usage of bitcoin but the government should take control on bitcoin, once it is controlled by the governments then people will start paying taxes on bitcoin buying and selling.

to me i think those countries who do not have declare bitcoin as legal currency, they do not have to pay tax on bitcoin, and therefore i do not think that still a single country is collecting tax on bitcoin. may be in future when they will consider bitcoin as legal currency then they may start collecting tax on bitcoin.

marketone

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Quote from: zulkarnaen on May 10, 2017, 09:30:10 AM

Paying taxes is a duty of every citizen, but each country certainly has different rules about tax payments in this case bitcoin tax, although there are some countries that require the income taxpayers earned through bitcoin

I agree many countries still not charging any taxes on the usage of bitcoin but the government should take control on bitcoin, once it is controlled by the governments then people will start paying taxes on bitcoin buying and selling.

moooonu

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Actually paying tax depends on your Government's policy. If they take external source of income in tax boundaries then you have to pay tax as you earn from bitcoins.

Gotottack

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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 ?

I cannot really say because there are different tax laws in different countries. You may want to verify it with your very own State law to ensure proper compliance. But insofar as Bitcoin online transactions are concerned, you would only need to pay for the miner's fee and nothing more. There are no tax deductions of any kind in terms of online transactions.

Barbut

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In my country there is no tax on bitcoins, but if you withdraw more then 10k dollars on one bank acouny in one year you can pay some tax on extra profit, at least that was the case with some guy in beginning of this year.
For example Australia had double tax on bitcoins, I mean still have until the 1 July, after that bitcoin will not be double taxed and it will be like any other currency. Check laws in country where you plan to open bitcoin related business.

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Quote from: MB boss on May 08, 2017, 06:25:33 PM

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 in your country bitcoin is a legal currency and it is used on the state level even by the state entity and it has a place in your law then it is sure that it will also have a tax on you while if your government do not have approved it as legal for the state then they are not bound to impose tax on you.

I agree with you, but the only thing concerns us is because once we are converting from Bitcoin to fiat our bank accounts will reflect the money and governments have right to ask the question to pay taxes on the transaction we have done. So it wise to pay taxes before to get notified by the governments.

BurtW

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Quote from: ahmia39 on May 11, 2017, 12:37:26 PM

Quote from: Qartersa on May 11, 2017, 09:19:53 AM

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 ?

Hi!

As of writing, there has been no requirement as to the payment of taxes in our jurisdiction. I am not quite familiar about how other jurisdictions regulate the payment of taxes of Bitcoin usage though.

You have to be fairly familiar about the laws of the land where you are in to ensure that you have not violated any laws. With this safety precaution, you can be certain that your incomes out of Bitcoins belong to you exclusively without fear of parting from it brought about by the power of the State to tax. Apart from the collection of taxes, you might as well end up paying for penalties and/or interests due the government.

I hope it helps.

To date, there is no government regulation on tax obligations for bitcoin owners. Because there's no stipulation of legal status and protection to owners of bitcoin.

Did you read the thread?

No, you did not.

Otherwise you would know that this depends on where you live. In the US taxes are owed. This may or may not be true in your country. Your blanket statement is not true. READ before you post.

ahmia39

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Quote from: Qartersa on May 11, 2017, 09:19:53 AM

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 ?

Hi!

As of writing, there has been no requirement as to the payment of taxes in our jurisdiction. I am not quite familiar about how other jurisdictions regulate the payment of taxes of Bitcoin usage though.

You have to be fairly familiar about the laws of the land where you are in to ensure that you have not violated any laws. With this safety precaution, you can be certain that your incomes out of Bitcoins belong to you exclusively without fear of parting from it brought about by the power of the State to tax. Apart from the collection of taxes, you might as well end up paying for penalties and/or interests due the government.

I hope it helps.

To date, there is no government regulation on tax obligations for bitcoin owners. Because there's no stipulation of legal status and protection to owners of bitcoin.

Qartersa

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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 ?

Hi!

As of writing, there has been no requirement as to the payment of taxes in our jurisdiction. I am not quite familiar about how other jurisdictions regulate the payment of taxes of Bitcoin usage though.

You have to be fairly familiar about the laws of the land where you are in to ensure that you have not violated any laws. With this safety precaution, you can be certain that your incomes out of Bitcoins belong to you exclusively without fear of parting from it brought about by the power of the State to tax. Apart from the collection of taxes, you might as well end up paying for penalties and/or interests due the government.

I hope it helps.

zulkarnaen

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Paying taxes is a duty of every citizen, but each country certainly has different rules about tax payments in this case bitcoin tax, although there are some countries that require the income taxpayers earned through bitcoin

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Quote from: Mpamaegbu on May 09, 2017, 08:06:16 AM

Since tax is a compulsory monetary level imposed on all income and transactions by the government, it then means Bitcoin must be recognized as legal by the government of a particular country...

Nope. Not in the U.S. anyway. All income is taxable including illegal money. Here is an Illinois tax stamp for weed, for example.

Mpamaegbu

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Since tax is a compulsory monetary level imposed on all income and transactions by the government, it then means Bitcoin must be recognized as legal by the government of a particular country first before it can impose tax on it.

However, whether the government recognizes the use of Bitcoin or not, users of Bitcoin must pay processing fees as transaction costs to effectively receive or transfer it. Whichever, something has to give while using Bitcoin.

trippedr

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Quote from: BellaBitBit on October 05, 2016, 06:15:20 PM

Bitcoin is definitely taxable. If you sell all of your bitcoin for USD you pay a tax on the profits. Make sure to check with your local government tax office before failing to pay taxes.

Can you imagine if the US govt. did not tax BItcoins. If you make money on it, they will tax you. Cheesy

Bobby_C_Lebaron

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One of the hallmarks of bitcoin is that it has not been charged and is not a tax object until now.

BurtW

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Quote from: MB boss on May 08, 2017, 06:25:33 PM

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 in your country bitcoin is a legal currency and it is used on the state level even by the state entity and it has a place in your law then it is sure that it will also have a tax on you while if your government do not have approved it as legal for the state then they are not bound to impose tax on you.

Another fucking signature spam post with incorrect information. Got another post for the signature campaign so he can get paid! Asshole.

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