Topic: Do traders pay income taxes? - page 8. (Read 1578 times)
I don't think that traders should pay income taxes. I think exchanges should pay taxes based on volumes/commissions of their trading.
In my country trading with cryptocurrencies or even with traditional ones are non-taxable income. So it all depends on the country you are in.
It is impossible tod o as bitcoin is decentralized system. Only if this crypto world will become centralized that would be the time we pay taxes to government from the total income that we've earned.
You asked a very exciting question for many. Since I have heard about various bills that want to tax all the profits from the crypto currency. It does not matter whether you get your income by trading, mining or bounty companies. What to do at the moment, I don't know, but I think in the near future all will become clear and we will understand what to do to be clean before the law.
I think paying taxes from your crypto profits come down to where does a one live. For me it's easy - anything under 500eur is tax-free and anything over is taxed by 20%.
If you earn profit of let's say 600eur, it's like: (600-500)*0.20=20eur for taxes.
If you earn profit of let's say 600eur, it's like: (600-500)*0.20=20eur for taxes.
The rules on taxation of cryptocurrency operations vary greatly in different countries, so the most correct would be to consult with a professional lawyer in your city, rather than asking ordinary people on the forum who do not know all the subtleties of taxation and do not even know what country you live. This is a serious issue that can entail serious consequences in the form of heavy fines or criminal penalties for tax evasion, therefore it is better to take this issue seriously, especially if the amount of money you operate is significant.
It depends of the country where you live. If you trade well and make good profits then I think that you need to pay taxes, but it is important to ask the rules about this topic in your country for the best information.
Some might do if their country requires them but not all of them do since a lot of the countries have not yet figured out how they are going to properly tax the coins and the income of the traders so for now only a few countries pay income taxes for their earnings from cryptos. But we should all be ready because there is going to come a time where we all will
in my opinion until now there is no country that requires paying taxes to traders, because every country must make regulations if it wants to take taxes from traders and in my opinion it will be very difficult because the identity of traders is very difficult to trace. 
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?
there is no tax in the crypto trade, except the fee in every cash withdrawal.
and transaction costs only. and I think friends here have conveyed in detail to you, so you only need to look for insights there
Some might do if their country requires them but not all of them do since a lot of the countries have not yet figured out how they are going to properly tax the coins and the income of the traders so for now only a few countries pay income taxes for their earnings from cryptos. But we should all be ready because there is going to come a time where we all will
if it is a tax issue, it depends on each country ... in my country, profit trading is one of the objects that are taxed, because profit trading is one of the sources of income (General Income Tax 17 of the Income Tax Law Number 36 of 2008), I think the treatment of each country about profit from trading is not much different
I know that the system of paying taxes from the profits received by participants in the crypto market is being developed by the Australian government. I am closely following this event. This may be a good sign for the development of a civilized crypto space.
In my country, so far there is no such thing, but it is possible if the law on the regulation of cryptocurrencies is adopted, then there will be similar laws that will oblige to pay taxes.
I don't think traders have to pay individual tax. I think investing in cryptocurrency is similar with buying gold. When the price of gold increase, we sell our gold to get profit. So there is no reason for us to pay tax for that
Since government will have a harder time monitoring your income from cryptocurrency trades, it is entirely up to you now if you want to declare them in your income tax report.
Traders have a lot of losses thanks to their constant move with money and such taxes are not so significant so much for them I am sure. It is not a problem.
It depend on your country policy it not all country that crypto is legalise so people in this country won't pay tax.. crypto is not recognised by all country that why i said it depend on your 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?
Not yet, but if they introduce regulation then we definitely will. It’s another matter what percentage will be at the same time, maybe it will not be profitable then to trade at all. So here is a fine line and it’s better for now, everything will be as it is. 
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'm not really sure where you are from but in our country, there is no such tax yet for such things like crypto incomes. But if you are really intending to pay taxes, I think its alright just to pay as individual but I think there is a limitation.
I don't pay income taxes when I withdraw my bitcoin to my local fiat, and I think I only pay the fee of making transaction on my bank. But I think soon, the bank will ask me from where that money. Until that time, I hope that I can withdraw my bitcoin without paying the taxes and if it's applied, I hope that the fee is not too big.
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