Topic: Do people have to pay taxes on Bitcoin? - page 11. (Read 17804 times)
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I’m not surprised by the United state to implement taxation on bitcoin and I’m not against this as a matter of fact I’m supporting this actions for helping our countries economically..
Right now,, my country doesn’t have laws regarding bitcoin and no existing policy for any regulation of cryptocurrency..
Right now,, my country doesn’t have laws regarding bitcoin and no existing policy for any regulation of cryptocurrency..
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I don't understand how tax snatched our freedom. Only we can help poor people by paying tax to the government.
I don't understand how tax snatched our freedom. Only we can help poor people by paying tax to the government.
If government want to legalize bitcoin, that's the only way.
Remember by paying tax, we also help our country generate revenue. But if you dislike to pay tax , there is a big chance for government to not legalize in the future that will impact on bitcoin demand !
The bitcoin was not created for taxation and was thought of as a decentralized system
Bitcoin also wasn't meant to heavily speculate with, but it happens. Why? Because people are greedy. Governments are greedy as well; they don't care when you are using it, how you are using it, and for what purpose you are using it, they just want you to pay your due taxes, and to locate your wealth and cash flows.it's already America that begins to smell to replenish its budget!
All governments do that. Do you seriously think that Japan's friendly Bitcoin regulations are implemented to stimulate Bitcoin itself? Their main incentive is to scoop up billions and billions of tax income they otherwise wouldn't have. In other words, whether it concerns people here or governments, the main incentive is to fill up our pockets. It's something we have to accept since there is nothing that you can do about it. Just move on.The bitcoin was not created for taxation and was thought of as a decentralized system
Bitcoin also wasn't meant to heavily speculate with, but it happens. Why? Because people are greedy. Governments are greedy as well; they don't care when you are using it, how you are using it, and for what purpose you are using it, they just want you to pay your due taxes, and to locate your wealth and cash flows.it's already America that begins to smell to replenish its budget!
All governments do that. Do you seriously think that Japan's friendly Bitcoin regulations are implemented to stimulate Bitcoin itself? Their main incentive is to scoop up billions and billions of tax income they otherwise wouldn't have. In other words, whether it concerns people here or governments, the main incentive is to fill up our pockets. It's something we have to accept since there is nothing that you can do about it. Just move on.
The bitcoin was not created for taxation and was thought of as a decentralized system, it's already America that begins to smell to replenish its budget!
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
Most of the bitcoin traders will not prepared to pay tax.We are already paying tax for our real job.So I don't want to pay tax twice for my single salary.Most of the people will inverse their salary in bitcoin trading.They won't like to pay tax for the investment in bitcoin and cryptocurrency.
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
Most of the bitcoin traders will not prepared to pay tax.We are already paying tax for our real job.So I don't want to pay tax twice for my single salary.Most of the people will inverse their salary in bitcoin trading.They won't like to pay tax for the investment in bitcoin and cryptocurrency.
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
Most of the bitcoin traders will not prepared to pay tax.We are already paying tax for our real job.So I don't want to pay tax twice for my single salary.Most of the people will inverse their salary in bitcoin trading.They won't like to pay tax for the investment in bitcoin and cryptocurrency.
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
Most of the bitcoin traders will not prepared to pay tax.We are already paying tax for our real job.So I don't want to pay tax twice for my single salary.Most of the people will inverse their salary in bitcoin trading.They won't like to pay tax for the investment in bitcoin and cryptocurrency.
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
Most of the bitcoin traders will not prepared to pay tax.We are already paying tax for our real job.So I don't want to pay tax twice for my single salary.Most of the people will inverse their salary in bitcoin trading.They won't like to pay tax for the investment in bitcoin and cryptocurrency.
For the country yes, for us no, paying tax means we need to declare that we own bitcoin, and that makes admit that we got crypto and we are losing the freedom, but I think if we want the crypto to become big we need the cooperation from the government, most of the adoption got stuck in the government's hand
I don't understand how tax snatched our freedom. Only we can help poor people by paying tax to the government.
For the country yes, for us no, paying tax means we need to declare that we own bitcoin, and that makes admit that we got crypto and we are losing the freedom, but I think if we want the crypto to become big we need the cooperation from the government, most of the adoption got stuck in the government's hand
I consider that it would be a right decision.
May be it is a right decision. But at the same time we have to accept it that this decision will produce a bad effect on cryptocurrency market.
this depends on the rules and regulations of different countries. Many countries have strict rules while other are quite lenient towards it. So, if you are worried about the taxation and the rules related to it, you can always use the forums to get to know a better view and see what the rules are in your country.
Tax is bylaws of every country, it should be paid by all members . But in some countries bitcoin is not legal by government, there is no tax on bitcoin.
This will depend on each of country's tax laws if they explicitly or impliedly view cryptocurrencies as matters subject to be taxed. From what I know, some countries have started implementing laws, specifically on the tax aspect, with regards to cryptocurrencies in their country. But as far as those who illegalize and prohibit the utlization of such, then no laws are mentioned with regards to taxing (although they are prohibited).
In fact, there are other services accepting bitcoin as an alternative payment for their services/products depending on the country. My wallet accepts transactions and payments for utility expenses and they are even connected to our various banks for online transfer of payment. This will heavily depend on the country if they allow such currency to be utilized or not.
Bitcoin is not designed for taxes to be paid on it. I beleive the best for government maybe to tax bitcoin users and make it more popular. Just that the charges should be considerate and proportional to the excesses.
Regarding the potential for tax revenues from digital currency transactions, such as bitcoins that are increasingly widespread but the article, bitcoin is not a legitimate means of payment So people do not use it as a payment system.In fact, there are other services accepting bitcoin as an alternative payment for their services/products depending on the country. My wallet accepts transactions and payments for utility expenses and they are even connected to our various banks for online transfer of payment. This will heavily depend on the country if they allow such currency to be utilized or not.
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
Is it a good decision or bad?
In my country Bitcoin is most commonly used as investments even in the country of Japan and Germany in which Bitcoin was commonly used as investments too although some may use it in spending but they are only few compared to majority that hold it for investments to earn more fiat. So if the USA see Bitcoin too as investment then as law abiding citizens you should pay the income tax but anyway you will be entitle from the government to a full protection from scam, stealing and any activities that related to Bitcoin activities.
One of Bitcoins universal characteristic was not to be taxed on. But it is a different story once you regularize the use of it on a certain country. Once a the government legalizes the use of bitcoin in they country, they may now have the power to impose taxed on it.
Bitcoin is not designed for taxes to be paid on it. I beleive the best for government maybe to tax bitcoin users and make it more popular. Just that the charges should be considerate and proportional to the excesses.
Regarding the potential for tax revenues from digital currency transactions, such as bitcoins that are increasingly widespread but the article, bitcoin is not a legitimate means of payment So people do not use it as a payment system. Jump to: