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?
I think that you must open a registered company
Topic: Do traders pay income taxes? - page 2. (Read 1578 times)
I think that you must open a registered company
well. there is no any regulations in many countries yet. you should check your country and what regulations they have. in my country, i can exchange them to fiat and transfer to my bank account without any taxes.
regulations vary by country, and depending on what the trader does, maybe if you trade in real terms and have a large store there will be taxes, and if you work online, I don't think about taxes. maybe if you transfer to an account there is no tax, but for others I don't understand because I'm also new here so I don't really understand.
well. there is no any regulations in many countries yet. you should check your country and what regulations they have. in my country, i can exchange them to fiat and transfer to my bank account without any taxes.
If traders should be paying income tax, what happens with the traders that have been making losses, in such periods the government should pay loss benefits to the traders also. I know it is possible but not really tenable. Again, there is no easy trace to know how much you make in profit as you are the only one that have access to your trading account except tax for withdrawals
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?
I think its not necessary since there is no requirements to diclare the "Initial Capital" for now! But if the crypto-currency will fully regulated im sure it will be taxed. since there was a money involve, im sure if its happen it will be a great "Turn Off" from the traders itself because its not working the way they should be. Just forget decentralization if that happen!
I don't know about other traders. But I don't pay taxes due to lack of legislation.
Taxes isn't a requirement for crypto sphere, so don't afraid
Taxes isn't a requirement for crypto sphere, so don't afraid
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?
I would gladly prefer to pay fixed income taxes. But, unfortunately, while in my country it is not even foreseen the legalization of cryptocurrency in the near future. Therefore, there is not even a legal opportunity to legally formalize such activities in order to ensure the payment of taxes.
Because countries have different policies and different tax forms, most exchanges need to pay taxes to the local government. This is the company's income tax!
This might interest all traders, crypto investors. Be careful out there.
Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
I think that with a good lawyer, he will easily challenge this in court, there can be no such the law under which the investor is obliged to fix profit in the reporting period, because it would collapse all the markets. Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
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?
Well I have friends who pay taxes I do not understand why, I for example do not pay , and I do not see the point in this, I use all the services paid for this better I will save the money for this 
As individual in crypto trading you don't need any tax payment but in fiat money trading you may pay your tax though your banking system and if you open your own company you will also go it to register and ultimately you will pay it.
Dont screw around with taxes if you are from USA as you can rapidly find yourself in some IRS dungeon getting waterboarded. No but seriously, I am mostly holding so I am not that worried about it, especially because those crypto terms are still not firmly established in our country.
there is no regulation about cryptocurrency tax in my country, so I don't pay tax at all so far. But in my opinion, it's a little bit hard to charge tax from cryptocurrency trading since its almost anonymous at dex exchange. The best way is charge tax at the centralized exchange. So Government doesn't need to chase every crypto holder. They just need to collect tax every year from the exchange.
In Latvia, (that's where i'm from) I need to pay capital gain tax as a self-employed person form my earnings from trading. But as I know it depends on the country where you live, because some countries don't tax financial trading operations.
As far as I know, everything depends on the country in which you live, but so far I have not met among my acquaintances those who have focused on this problem!
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?
It is good that in my country there is no mandatory taxation on such activities. However, earning in this market, you will still give a small percentage of different actions. Interest will be charged for trading on exchanges, transactions between accounts and conversion to Fiat money. If you live in a country loyal to such activities, then you are very lucky)) the Deduction from your earnings will be limited only to these small percentages 
I don't see anyone paying taxes on electronic money, so it is very difficult for the state to manage this source of income. I have been involved in this market for a long time. And I have never been taxed on me.
This might interest all traders, crypto investors. Be careful out there.
Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
That's brutal. Time to declare bankruptcy?
This might interest all traders, crypto investors. Be careful out there.
Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/
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I remember that some of my friends in the US had to pay taxestaxes when they made a profit. And they are not shared that the coin should be bought, because if they share they will be punished by law. However, in my country, the trader still does not have to pay that fee, and I think it is bad if the trader has to pay taxes
Every accumulated wealth that adds to your overall value will be taxed no matter what, such thing is what most of the government do.Many people may see that as the most inconvenience thing especially if you live in a 3rd world country when you can't get the real benefit of being tax payer but well, that's life.
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