Topic: Do traders pay income taxes? - page 5. (Read 1578 times)
If you mean taxes like taxes that are regulated by the governmental institutions in lots of countries, so to my mind not, traders do not pay. They pay for fiat that they get after converting the crypto currency into their fiat money that are regulated by the governments. After crypto became the official financial asset so traders will have to pay taxes may be.
In my country it depends on the capital gains.. How much you invested and how much you cashed out in a year. Based on that you will be a particular tax bracket and you will have to pay taxes accordingly.
Personally I do not pay taxes for trading on the exchanges in case I get the profit, I pay the taxes after I cash up and I think that this is enough.
It depends on the country where you are living. all of them have different laws. As for me, I don't pay any taxes. It's only my profit, I wouldn't share it with the government.
No. Traders do not pay tax for the incomes.
Cryptocurrency has not gone 100% mainstream and so not that recognized by most counties to the extent of collecting tax on cryptocurrency trades .
Cryptocurrency has not gone 100% mainstream and so not that recognized by most counties to the extent of collecting tax on cryptocurrency trades .
Traders using cryptocurrencies on pay tax when they use fiat money (dollar) as payment. If they use bitcoin then NO, there is no income tax. So I think using altcoin as payments could get rid of those tax that are too unfair in some countries and maybe cryptocurrencies could do some little help. I also think that it is a reason why government like to put tax on crypto because they think that crypto-users are evading tax in a legal way but once there is tax then it is illegal.
I do not pay taxes for the income that comes from my cryptocurrency, but it all depends on what country you live in and how you withdraw your funds.
If your country's law protect and aprrove crypto currency, than yes, you have to pay taxes. But in my country, when the crypto hasn't approved by gorvernment, you still pay for those extra income too 
If you talk about cash your profits out, then you will have to declair your profits somehow, our you can get questions from government
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?
BTC has been recognized as commodity, so you will pay commodity taxes, if you are US citizen. In the same time, most of tokens are not covered by 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?
You need to study the legislation of the country where you operate. More and more countries are beginning to regulate crypto. And I am sure that sooner or later, everyone will work in the legal field. I support the idea that traders have to pay taxes. Crypto is becoming the same kind of business as other industries.
As the cryptos are not legalised fully then what is the question for the income taxes? I think Govt. shouldn't impose any tax until it has legalised the same.
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?
Most of coins are not regulated, so you even do not trade legally. That is why, there is no taxes, but you support the shadow economics of the world.
I think that there are no such people who are willing to share profits with the government. Moreover, how are they going to prove how much he earned in a particular month? I believe that the tax collection from traders is very difficult to implement, especially who trades on cryptocurrency
I do not thing that crypto traders are paying taxes. You traded on an exchange, withdrawal you funds and spend them on your needs. Maybe legal exchanges are paying something from their commission fees but no trader pays taxes.
in USA traders have to pay taxes and give reports about their profit. so it depends on the country you are living in.
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 have yet to find out that the trade is taxed. the problem until now the existence of bitcoin has also not been officially recognized by many countries. so otu tax cannot be set yet.
I think this is depending on where you stay, that's your current location. But there are many places out there where you can just start trading without paying taxes not even need to open any company.
To a greater extent, it all depends on what country you live in and what amounts you will have. If you have a month to be plus $ 1,000, I think you can safely avoid paying taxes. At least so in my country.
It depends on country, some countries do pay tax for their trading but for me and my country, I don't pay taxes for trading or owning cryptos because in my country the government have not noticed cryptos at all and no decision or whatsoever have been taken as regards to cryptos and blockchain.
Taxes on fiat is the government's field, they could ask for taxes because it's their Currency. 
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 depends on country where you live.I live in country where every exchange (for example Bitcoin to Ethereum) should be taxed. Is that normal?
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