Topic: Do traders pay income taxes? - page 6. (Read 1578 times)
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.
Currently my country does not recognize the crypto, so I have no obligation to pay taxes. Later, if I have accepted and collected taxes, then I should be obliged to pay taxes.
If the taxes problem might depend on the government in a country because with the government policy on trade in the world of cryptocurrency, enthusiasts must automatically comply so that things do not appear bad later and mutually beneficial.With the cooperation between residents and the government.
If the law exists within the country with the law on the payment of tax on traders , they are obliged to pay tax , and if not then they do not need to pay anything.
we all will definitely pay taxes if the government requires and is the same as crypto if there is a tax by the government that will be followed by traders, but depends on a country.in my country bitcoin is still illegal, and is not taxed.
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.
if exchange is registered in legal country, not offshore, it will pay taxes from their income. their income = fees of trading. traders pay fees while trade. that is how traders pay 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?
It all depends on the laws of your country. I would start by checking your countries income tax regulations.
If the law exists within the country with the law on the payment of tax on traders , they are obliged to pay tax , and if not then they do not need to pay anything.
I think because most countries have not legalised or cypto in any way and is much a topic that's hanging in the air. Though, if you decide to take it out via banks then that money should in theory be declared.
A few may perform in the event that their own nation demands all of them although not them all perform because many of the nations haven't however determined exactly how they will correctly tax the actual cash and also the earnings from the investors therefore for the time being just a few nations spend taxes for his or her income through cryptos. However, we ought to just about all prepare yourself simply because presently there will arrive a period exactly where all of us may.
Based on the charges we encounter on some exchanges, i feel directly or indirectly, we pay tax. There are some exchanges that pay taxes to the government of the countries where they are domicile. So some of them charge their users or traders based on the amount they expend on taxes and other ventures.
Although, as a crypto trader, you do not to bother yourself on any form of tax, because it has been taken care of by the exchange you use.
Although, as a crypto trader, you do not to bother yourself on any form of tax, because it has been taken care of by the exchange you use.
As I know, no one pays and is not going to pay taxes on profits in crypto. Except Australia. There, the government leads legislation to transparency in crypto and tax payments. In this matter, I want to say to the Australian government: crypto is a risky investment, in one year I will make a profit, for example, $ 1,000, and I will pay a tax of $ 140. And next year, if I lose $ 1000 from investing in crypto, will the government help me with the same $ 140 return to me?
Some traders always pay some fee from there trading and extra fee for getting for it to withdraw but soon they always say that trading published a taxed.
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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?
Here in cryptocurrency there's no tax to be payed and that's the advantage compare to working.
Germany announced tax free for all crypto users. I don't know about other countries but tax are paid directly or indirectly by each one. Traders may not be charged taxes for their transactions but indirectly, they pay their quota of tax to the exchanges where the trading is done. These exchanges pay taxes directly or indirectly when making the final conversion from crypto to fiat.
I dont think that it is still applicable. Because that is the beauty of doing trades in cryptocurrency because most of the coins is anonymous and goverment agencies cant track it. But I think the exchange owner will pay the taxes.
it depends on the laws of your country. in my country, while the cryptocurrency is not legalized and therefore I do not pay tax on income from the exchange
I think that it would be right to pay taxes with profit because it would be so much easier for everyone
Crypto trading is something quite cryptic as there is no established expected profit and tracking, maybe not really be easy assigning income task to it as it is a very high risky venture that could equally come crashing in a split second.
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