I guess not. All traders work in different residences and the company cannot keep track of all this. So either the trader pays or no one .
Topic: Do traders pay income taxes? - page 4. (Read 1578 times)
I have never paid taxes directly because of the trade because there are no rules in our country yet, but I am sure the local exchange companies that we often use for exchanges and trade take fees for the activities we do either deposit or withdrawal and I am sure they pay taxes for exchange companies
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?
As far as I know there no tax here in crypto or i dont know but here in our country we dont haven taxes for crypto i dont know in some country
If you are asking about US law (as defined by the IRS), then yes, technically any and all income should be reported and factor towards determining your taxable income. If I hand you a dollar at the lunch table, technically you're supposed to report that as income, as defined by IRS rules. Clearly, many traders and investors in cryptocurrency are likely not reporting realized gains, either out of naivety or conscious tax evasion.
It depends of the tax regulation of each country but traders should pay taxes on their profits at the end of each year.
Nothing can be said to be certain, except death and taxes.
Nothing can be said to be certain, except death and taxes.
In General, the cryptocurrency is anonymous and no one knows how much you received and how much money was withdrawn, but how much I know there is a tax in Australia.
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?
Cryptocurrency is not regulated so there is no taxation in the income of traders. Also, it is difficult to tax because it is hard to track blockchain transactions and the identity of each wallet and the corresponding trader who uses it.
Probably none of the traders cryptocurrency does not pay taxes because it is impossible to track , and I'm not a supporter of what we would pay taxes , it's just theft!
I think that blockchain paradigm must be free of income taxes, we can pay income taxes when we convert cryptocurrency to fiat currency.
For traders they must create conditions for earning enough big money to talk about removing taxes from these incomes. Question number one: how to find out and fix this income. If someone in the crypto does it, then we can talk about the future.
In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.
It is more difficult to tax on the income of electronic money, and the more the government intervenes and seeks to tax personal income, they are anonymous, they have many ways to withdraw. and the government will not be able to intervene in their income
I will always refuse, if the government imposes taxes on traders as long as the government has not contributed positively to the future of traders
the government does not want to bear losses, from the cut loss made by traders, then why do they want to ask for the profits we get? are they thirsty vampires going to a cryptocurrency fighter?
the government does not want to bear losses, from the cut loss made by traders, then why do they want to ask for the profits we get? are they thirsty vampires going to a cryptocurrency fighter?
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 it needs a law to implement the collection of taxes from the earnings of cryptocurrency. If that will happen how the government know if we earn on this technology as we also lose our funds in a bearish market. Anyway here in my country we are free to do crypto transaction without any issue from government. They just reminded us that investing in crypto is high risk due to volatility. In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.
It is more difficult to tax on the income of electronic money, and the more the government intervenes and seeks to tax personal income, they are anonymous, they have many ways to withdraw. and the government will not be able to intervene in their income
I think that most traders do not pay taxes because they trade on anonymous exchanges. But it is against the law. I think we should not deceive the government.
I have never paid taxes on the income from the crypto currency that I got. because of being attacked I have not implemented regulations on bitcoin.
if it is actually implemented, I really agree, if bitcoin is taxed
if it is actually implemented, I really agree, if bitcoin is taxed
In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.
Fees on most of trading portals are so high, and if I would need pay taxes, I will not make any profits at all. There should be no crypto taxing at all.
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?
Since cryptocurrency is decentralized, traders can't be pinned down directly by any government agencies, to get taxes from them. Except the exchange they are using decides to charge them indirectly, because exchanges can still be charged the government agencies.
Since you are not registered as a company I don't see why you will pay tax to anyone and there is no government body that is in charge of taking and calculating crypto tax for now.
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