Topic: Do people have to pay taxes on Bitcoin? - page 5. (Read 17804 times)
My opinion is bitcoin has to be taxed as the same ratio where we buy shares from the stock market. So that legality for the bitcoin market can be resolved and it can be widely used for all sorts of transactions.
Many countries did not allowed any cryptocurrency to be used by their people so there is no need for taxation even some of them buying and selling cryptocurrencies in the underground exchanges. When a government legalized bitcoin, taxation will surely follows with the addition of crypto regulation. If there is a law that requires you to pay taxes in your bitcoin transactions then you should follow it.
I would love to pay tax if my country accepts bitcoin and imposes any rules on paying tax to the bitcoin earnings. When you have rules on it, just abide by it as the one who set this rule knows how good they should be to their citizens. Its ok to pay the tax but there should be a limit. I had to come across few of my friend from different countries expressing how much they are taxed. They really expect thier country to decrease the percentage. Always, based on one's income, the tax rate differs. But still the citizens do expect to reduce the percentage on tax.
Many countries did not allowed any cryptocurrency to be used by their people so there is no need for taxation even some of them buying and selling cryptocurrencies in the underground exchanges. When a government legalized bitcoin, taxation will surely follows with the addition of crypto regulation. If there is a law that requires you to pay taxes in your bitcoin transactions then you should follow it.
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.
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.
As far as I know, Bitcoin is not a fiat currency with legal status in any country, but often remains bound to the rules of tax obligations regardless of the media of money used. There are various kinds of laws in many countries that can cause income, sales, payroll, profit, or other forms of tax liability to appear with Bitcoin. In other words, if a country oblige tax on bitcoin, then we can only comply with these regulations. and this is not a bad thing.
Personally, I am against the government imposing taxes on transactions with bitcoin.
We have to follow the rule of the government if they impose taxation. I've always been against paying taxes to the government for crypto currency, because I think it's wrong.
You have to be a law abiding citizen, I'm also not in favor of putting taxes to bitcoin but what can we do if the government steps in and intervenes with cryptocurrency.I know that many people here doesn't really want to pay taxes but if the return is that the government will guarantee bitcoin is a good and safe investment to the citizens, it's a fair decision.
Personally, I am against the government imposing taxes on transactions with bitcoin.
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?
pay taxes for bitcoin would lose the essence for which this cryptocurrency was created. Bitcoin should work as it has done so far, as it has been a great opportunity for people not to be run by a government.
If you are staying within the crypto-space and not going through centralised Legal entities to convert to and from FIAT (TENDER FOR LAW), then they have absolutely ZERO jurisdiction to impose any taxation on your private crypto holdings or earnings.
There is no need to hand over jurisdiction when not needed and it is quite clear to anyone with a working brain that the Babylonian Legal system including governments/banks and other bankers masquerading as public corporations are completely corrupt and commit crimes against humanity including poverty and war crimes on a daily basis. Why on earth anyone would want to voluntarily hand over their assets when there is no need to is beyond me. I'm against funding criminal non-transparent organisations myself.
There is no need to hand over jurisdiction when not needed and it is quite clear to anyone with a working brain that the Babylonian Legal system including governments/banks and other bankers masquerading as public corporations are completely corrupt and commit crimes against humanity including poverty and war crimes on a daily basis. Why on earth anyone would want to voluntarily hand over their assets when there is no need to is beyond me. I'm against funding criminal non-transparent organisations myself.
I've always been against paying taxes to the government for crypto currency, because I think it's wrong.
It depends upon the government of the country, normally there is no tax for bitcoin. If the government announced to pay tax means then you have to pay. There is nothing wrong in that, because the government wants to prevent the people using bitcoin money as illegal. But people change their bitcoin to local in local exchange for that only they have to pay transaction fees. Other than that there is no taxation for bitcoin. At the same time some countries ask their people to pay tax.
Before paying taxes the government should give some clarity on Bitcoin is legalised in those countries.Some countries don't permit bitcoin as legally so there taxes not count.
That is true only in some point cause if we put money in crypto and get more it is just easy to say that we are earning so you need to pay tax from money that you have earned no matter how. 
Any taxes are not the most pleasant thing for taxpayers.Americans amaze me at all)))They still do not understand their attitude to bitcoin,but have already imposed its biggest tax)))I believe that you have to pay tax if you cash it in the state.If you just earned it and transferred to another business, the tax is not necessary to pay.Actually nowadays everything is taxed,even find the treasure and win.I think that bitcoin aside, they will not leave.But it may help to speed up the process of its legalization.
In my country I only have to pay a tax when I exchange my bitcoin for cash and make a profit. Other than that any transactions with Bitcoin are not under taxation.
I personally have no problem with that.
On the one hand, I think, if your country does require you to pay bitcoin tax, then you have to pay it. but, on the one hand, maybe people will disagree because some people go to bitcoin to avoid taxes.
On the one hand, I think, if your country does require you to pay bitcoin tax, then you have to pay it. but, on the one hand, maybe people will disagree because some people go to bitcoin to avoid taxes.
Taxes should be paied when you turn Bitcoin into cash at least in my country.
I am against the fact that the crypto currency has been taxed and I think it's wrong. It is good that there is no tax in my country yet.
What I know, there are various laws in many countries that can cause income, sales, payroll, profit, or other forms of tax liability to appear with Bitcoin. And when your country requires it, then I think you have to do it, you have to pay taxes for that.
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I think people don't pay taxes on bitcoin but I don't know about the country that already accepts bitcoin whether they need to pay the taxes or not. but I think if the governments want people to pay taxes, then we need to obey the rule because we lived in that country and we are the citizen of that country. this will give a support for the economy of the country and I think with this way, cryptocurrency will be legal in that country because the governments can take something from the bitcoin user.
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