Topic: Do people have to pay taxes on Bitcoin? - page 7. (Read 17823 times)
It depends upon the country where you reside. Its rules and regulations may differ from each country. We have countries who accepted bitcoin and have set up rules on taxing citizens. Its then the citizens who have to abide by the rules. But where as we have countries who have not yet accepted bitcoin. In this case citizens earn from bitcoin is not needed to pay tax to the government.
It depends upon the country which you resides, in your country if government put tax for bitcoin then you have to pay tax it is necessary. I think most of the country couldn't put the tax for bitcoin. Few countries now put tax for bitcoin, so its purely depends upon the government of the country.
Every government wants to sell money for free. So in the future, they can create some system and we all will be must pay taxes for our Bitcoin. But I will still believe that it will be not created.But if there are regulations and announcements that came from your government and you have to pay attention to it.
Then the simple thing that you have to do is to pay your tax accordingly.
It depends upon the country which you resides, in your country if government put tax for bitcoin then you have to pay tax it is necessary. I think most of the country couldn't put the tax for bitcoin. Few countries now put tax for bitcoin, so its purely depends upon the government of the country.
Every government wants to sell money for free. So in the future, they can create some system and we all will be must pay taxes for our Bitcoin. But I will still believe that it will be not created.
Yes, they do: usually they have 2 ( 1 for buying and 1 for the mining fee). In cryptocoin pro for example you have different fees based on the type of operation you are doing but most of them are free so i suggest you start with this platform
Type Fee
Execution of Buying Order Free
Execution of Sales Order 1,5%
Transfer of virtual currency to user wallet 1,5%
Payment in FIAT via SEPA transfer for buying operation Free
Payment in FIAT via Credit Card for buying operation 3,9%
Transfer in FIAT via SEPA for selling operation Free
Type Fee
Execution of Buying Order Free
Execution of Sales Order 1,5%
Transfer of virtual currency to user wallet 1,5%
Payment in FIAT via SEPA transfer for buying operation Free
Payment in FIAT via Credit Card for buying operation 3,9%
Transfer in FIAT via SEPA for selling operation Free
It purely depends upon the country which you live. Because as far as i know there is no tax for bitcoin. If the government announced to pay tax means then you have to pay only. Paying tax is good for economic growth of the country. Once it is legalized by government then automatically tax will be compulsory. At the same time U.S. government collect tax from the people for bitcoin.
How difficult it is to understand that Bitcoin doesn't need to be legalized or categorized in order for people to pay tax over their crypto holdings and profits? It's a common misconception that will end up making people run into legal problems with how they use their exchange for trading and storage purposes. It won't take long before governments will make sure that every centralized exchange shares user data on a daily or weekly basis with them. It's a threat not many people think about, but it's going to happen, and maybe it has already happened but we don't know it yet....
Well, luckily here my country we free using crypto without paying tax.
It purely depends upon the country which you live. Because as far as i know there is no tax for bitcoin. If the government announced to pay tax means then you have to pay only. Paying tax is good for economic growth of the country. Once it is legalized by government then automatically tax will be compulsory. At the same time U.S. government collect tax from the people for bitcoin.
How difficult it is to understand that Bitcoin doesn't need to be legalized or categorized in order for people to pay tax over their crypto holdings and profits? It's a common misconception that will end up making people run into legal problems with how they use their exchange for trading and storage purposes. It won't take long before governments will make sure that every centralized exchange shares user data on a daily or weekly basis with them. It's a threat not many people think about, but it's going to happen, and maybe it has already happened but we don't know it yet....
It purely depends upon the country which you live. Because as far as i know there is no tax for bitcoin. If the government announced to pay tax means then you have to pay only. Paying tax is good for economic growth of the country. Once it is legalized by government then automatically tax will be compulsory. At the same time U.S. government collect tax from the people for 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?
the need for clear regulation of bitcoin in order for the relevant authorities to monitor its sale so as to avoid tax evasion, because to minimize the actions we do not want such as theft and murder. Is it a good decision or bad?
Bitcoin is not a fiat currency with a legitimate status in any country, but it is often bound by 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. in other words, I think if bitcoin is legal in your country, and you as bitcoin holder are required to pay taxes, then, you must comply with the rules applicable in your country. because if you do not, you have violated the rules of your country.
This is situational only on which country you are, there are some countries having strict policies in paying tax by their government and lucky those countries did not have any implementing rules of paying tax. Speaking of paying tax luckily we are exempted here because my country did not put any regulations in cryptocurrency money. So, the only thing we pay tax is when we buy goods.
Bitcoin is not a fiat currency with a legitimate status in any country, but it is often bound by 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. in other words, I think if bitcoin is legal in your country, and you as bitcoin holder are required to pay taxes, then, you must comply with the rules applicable in your country. because if you do not, you have violated the rules of your country.
Bitcoin is not a fiat currency with a legitimate status in any country, but it is often bound by 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. in other words, I think if bitcoin is legal in your country, and you as bitcoin holder are required to pay taxes, then, you must comply with the rules applicable in your country. because if you do not, you have violated the rules of your country.
This is situational only on which country you are, there are some countries having strict policies in paying tax by their government and lucky those countries did not have any implementing rules of paying tax. Speaking of paying tax luckily we are exempted here because my country did not put any regulations in cryptocurrency money. So, the only thing we pay tax is when we buy goods.
We do not have to pay taxes for bitcoins. It was created in order to bypass the tax system and use people.
There is no tax for bitcoin normally, it depends upon the country which you resides. The government announced any tax for bitcoin in your country means then you have to pay it. That's unavoidable, many countries didn't announced any tax for bitcoin eventhough it is legalized. If the government announced tax for bitcoin means then the economic growth of the country will be more wealthy than now.
Totally depending on the country you are living in. Before it was totally tax free.Thats what bitcoin is famous for. Its just a digital money and taxing it is somehow unfair in my opinion. But no, in the USA , they started considering bitcoins like our usual properties. So they are charging tax on it as well. Hence, depending on how much you are paid through bitcoins or how much bitcoins you make, you have to pay tax in the USA. But please do concern your tax advisor to play it safe.
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?
Былo peшeнo oблaгaть нaлoгoм в 13% кpиптoвaлюты.
If it will be regulated, it needs to have tax so that the development of the economy will grow and become more helpful in our society. But if it will stays in anonymous, I guess it's hard to implement it sinced there are no regulating bodies that managed this kind of investments.
I don't believe is a good decision to pay task on bitcoin and to be treated as property. Bitcoin does not occupy any space physically and should not be task. In another development, paying task on bitcoin give a very good ground for the people in that country to transact using bitcoin without restriction.
Pay as long as your respective country has accepted bitcoin and has created doors to earn bitcoin on its expense. If bitcoin is not accepted in your country then you can obviously think about paying tax to the goverment. Its not necessary to pay when bitcoin is not accepted. Few countries do have rules in tax. Abiding would not disturbe you earning bitcoin further. So think on it.
Yes and no.
Yes, if you are a law abiding citizen, you must feel grateful that you are part of the your country's living source of taxation. That what should a tax payer feels but...
No, because we know on where our taxes go.
Well my say on this is it also depends on the country if you can really see that taxes are being used properly.
Yes, if you are a law abiding citizen, you must feel grateful that you are part of the your country's living source of taxation. That what should a tax payer feels but...
No, because we know on where our taxes go.
Well my say on this is it also depends on the country if you can really see that taxes are being used properly.
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?
The regulations governing the taxation of bitcoin and other cryptocurrencies differ significantly in different countries. I think we must pay only for transactions, but not more. Is it a good decision or bad?
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