Topic: Do traders pay income taxes? (Read 1578 times)
On my experience upon making trades and generate profit, is no. It is not necessary to pay for the taxes of the gained profit that we have upon making trades. But I think the exchange owner will like to carry the fee and pay the taxes. Because us, trades, are being less with the trade fee and the withdrawal fee already.
Traders should not pay taxes, and if the trading platform pays taxes, it also means coin securitization. This is uncertain in the future and there may be two types of cryptocurrencies on the market. This is equivalent to supervised exchange, then it is equal to the cryptocurrency is not anonymous. This is the same as the comparison between XRP and XLM.
Yes of course. income tax is paid on each exchange, because the exchange removes interest for each transaction
I personally think that we should not pay income tax because the market is not regulated at all
Well, first, I think that when you start trading, you should register in such certain exchange that have good volume and good market analysis. However, I also don't really know if such exchange or market will need to pay taxes or not. So far, I don't pay any taxes. In my countries, there are also not taxes for the traders. So, so far, I'm not involved in any taxes. Just some fee of transaction if I do some transaction, withdraw, and some other things.
there is nothing to pay because you are on a centralized market where you do not need to pay taxes
in my country, if you declare that you are earning some of your income from trading, obviously you need to pay taxes. otherwise, It is actually up to the person if he wants to declare it, maybe for business or professional reasons, you need to do it by the way. But if you are satisfied the way it is, no need to do that, since most of the taxes are just going to some corrupt politicians.
I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?
Profit from cryptocurrency is a form that does not pay taxes because a business or government does not manage it. Thus the government invariably forbids cryptocurrency due to the afraid of the cryptocurrency market will affect the economy of their country.
I don't think traders pay their income taxes because we know that Crypto currency is not yet legalized in any country. And I think most of them are not willing to pay their taxes because of the situation of all the currencies value in the market but still it they are willing to pay if the currency that they have we're legalized in their country.
It depends on the country but many countries still not have regulations on cryptocurrencies. But, yes taxes should be
payed. Many of them still not considering it as a must to do but all the transactions are trackable and we could have
an unpleasant surprise years later. I am more than happy to pay tax if I have capital gain.
payed. Many of them still not considering it as a must to do but all the transactions are trackable and we could have
an unpleasant surprise years later. I am more than happy to pay tax if I have capital gain.
It depends on country where you live, in my country yes, you have to pay taxes from all earnings. But they do not know how to collect taxes from cryptocurrencies 
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Not where I live, no they do not although the only reason that the government is not taxing them right now is because they have not figured out a very effective way to tax the earnings of the crypto investors, which is why they are supporting ways to track cryptocurrencies transactions. It will only be a while before traders are required to start paying taxes
That's totally depend on the law of particular country. Some may treat it as getting other may treat it as trading. So you must consult with your tax advisor and then take a decision. Also legality of crypto is also big decision in many countries. So it's better to take advice
I have repeatedly met such people who, for the sake of trade or mining, changed their place of residence and left for more profitable countries. Nevertheless, I believe that the government of any country is trying to tax its citizens as hard as possible.
That's totally depend on the law of particular country. Some may treat it as getting other may treat it as trading. So you must consult with your tax advisor and then take a decision. Also legality of crypto is also big decision in many countries. So it's better to take advice
I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?
Based on the characteristics of a blockchain, there is no need of the the users to pay taxes in trading since blockchain is decentralized and if a trader is just an individual and not company, it really makes sense, trade while you can without thinking about taxes.
in my opinion, traders don't pay taxes for every crypto trade they do. because there are no regulations that govern this. but unlike the Market Exchange, I am sure the owner of the crypto market is definitely paying taxes for obtaining permission to operate in his country.
I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?
Each person is individual, but much depends on the laws of a particular country. I believe that the right decision in this situation is to consult with an experienced lawyer in your city. He will be able to tell in detail how you can arrange the most correctly and legally activities for the payment of taxes.
Certain may perhaps undertake whenever your united states entails him or her, however, is not everyone undertake seeing that tips areas didn't yet still understood the way in which they should thoroughly tax bill any gold coins and also money within the experienced traders which means that right now few areas pay off income taxes thus to their net income with cryptos. However, we must most of prepare yourself gave that certainly, it is likely to are provided the perfect opportunity after the place every person could.
I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?
to do this individually it seems very difficult except the exchange that does it, for example by taking additional fees for taxes (when sell or buy order has been fulfilled the funds will be deducted automatically to pay trading fees and taxes)
I think it all depends on the legislation of the country in which you live. In my country they demand to pay taxes on all incomes of citizens. And this tax is very big.
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