Topic: Do people have to pay taxes on Bitcoin? - page 4. (Read 17807 times)
It's a terrible decision. It's good that I am a citizen of another country! In my country, people only pay income tax on successful trades on the stock exchange. to equate bitcoin to the property - it is idiocy!
I asked an attorney in my country and he said that anything that we make profit from is subject for tax and trading cryptocurrency is included. I was scared when I knew that but I know there isn't a clear law about so I'm still not going to pay my taxes.
When a country adopts a law on cryptocurrencies, in most cases they are assigned the status of ownership / property. And accordingly, they are subject to tax. It is good or bad everyone decides for himself, but it is clear that no one is people who would be happy with taxes. I put up with this situation, because it is inevitable and I can not influence the decision of the state. In our country, cryptocurrencies are also regarded as property and are taxed.
People wants to pay tax for bitcoin if it is implemwnted in their country. It depends upon the country which you resides. If the government announced tax for bitcoin means then you have to pay. But still there are so many countries use bitcoin without any tax. At the same time some countries announced tax for bitcoin to avoid people using bitcoin in illegal way.
We have already arrived in Russia legislation on Bitcoin taxation, so it is not far off that most countries will impose taxes on digital assets.The state will not miss the moment to get extra money.
We have to pay taxes according to the laws of our states. If you think the laws of the country on taxation are unfair, you can not pay them at your own risk. You have to make a decision anyway. However, it should be remembered that if we evade paying taxes on profits in cryptocurrency, the state can not only tighten the responsibility for such a violation, but also tighten the rules for cryptocurrency in the country.
Tax law vary from country to country. So it's all about local laws. I never pay taxes on bitcoin.
If you using bitcoin for online purpose such as online shopping then you never have to pay any single taxes.
If you using bitcoin for online purpose such as online shopping then you never have to pay any single taxes.
Surely everyone will pay the bitcoin tax, maybe everyone has a different way to do this. Because it is impossible for bitcoin to be disbursed, there is certainly little to be the admin fee. Like a bank for other costs, bitcoin is well managed so the results will be more profitable.
It's an easy way for IRS to handle this, like anything else, if you gained value when selling it, you have a capital gain like real property, stocks etc. So this is reasonable.
Bitcoin tax depends on the government of any country. Some countries are paying taxes on Bitcoin where as some are not. So it totally depends on your country.
Investors will only do that when his country is obliged to give the tax the crypto. but now it's difficult because first of all not all countries are crying crypto. and there are bankers to block it.
Yes, people should pay taxes on bitcoin since if someone buys and sells a bitcoin token and it appreciates or depreciates in value between buying and selling, the gain is taxable and the loss should be afforded tax relief.
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?
I think if bitcoin legalized in a country the government will apply taxes in every transaction we will make. Taxes is very important to the economy of a country. why? because it can be a fund to the government to used in building a hospitals, schools, education assistants and so on. Our taxes is distributed in may sectors of the government down to its area. Many people will rely in bitcoin and its good source to the government to collect it. And I think they will keep to control the crypto price after they legalized to provide a regulation for it to follow so that they can implement it well.
As we know, Bitcoin is popular in the crypto market and it can be a advantage in the government because some people are engaging bitcoin that is why they will got interested to it.
Yes they have to pay for taxes if they spend or sold crypto.
This is a good solution only for the state, because in this way they will improve the economic situation in the country. For US residents who use bitcoin, this is only an extra cost.
For a developing country, collecting taxes is very crucial and its really important so I think if you live on that country its better to pay taxes which can help your country to grow economically. If there is already a law like this on your place, better to comply with it. IMO, this is a good decision from U.S because of growing cryptousers on their place they can possibly collect more taxes and also this is a good for every cryptousers in U.S simply because they can enjoy cryptocurrency without thinking about banning cryptocurrency because U.S support this technology.
In order to get legal security and some guarantees from the state, you need to pay taxes. I think so.
I do not have any info on hearing about that issue, that's how taxing bitcoin is a bit complicated. but if this is the way for a country to accept the crypto in their country there is nothing wrong with that talk.
I suppose that it is not a good news. since bitcoin is not legal in some countries, of course there's no regulation for it, and automatically tax is invalid. Whereas, most people avoid to pay tax, I guess. Unless, government legalized it and bitcoin are accepted as the currency, of course different thing will happen, probably. 
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?
I do not agree if BTC usage is taxed.Is it a good decision or bad?
If they use BTC, but they don't have BTC in their wallet, do they have to pay taxes?
I think the government is enough to receive building taxes, vehicles.
@maarx
You are confusing something. No matter if your country doesn't accept bitcoin, you are supposed to pay your tax related to your income. How do you pay it is another story that they let you deal with
@savioroshan
You are comparing it with the stock market and propose to tax Bitcoin the same since you are only watching for the "investors " side.
But what about those who are working and paid in crypto, mine a crypto and have the infrastructure to pay, etc should they be taxed like a worker or as an investor?
You are confusing something. No matter if your country doesn't accept bitcoin, you are supposed to pay your tax related to your income. How do you pay it is another story that they let you deal with
@savioroshan
You are comparing it with the stock market and propose to tax Bitcoin the same since you are only watching for the "investors " side.
But what about those who are working and paid in crypto, mine a crypto and have the infrastructure to pay, etc should they be taxed like a worker or as an investor?
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