do you guys pay Taxes for profit? - page 13.

qwertyup23

hero member

Activity: 2212

Merit: 786

Quote from: Crypto_Day_day on February 28, 2018, 11:08:08 AM

As long we are talking about small amounts i don't think it's a problem....

if you have big amounts to convert i think you consult a accountant.

Regardless of the amount, if the law on your country has clear provisions regarding the taxation of cryptocurrencies in general, then you are subject to comply regardless of the amount. But if there are no laws pertaining to cryptocurrencies and taxes, then you are not liable of anything. There is no crime when there is no law punishing it. Assuming that there is, please do not attempt to evade or to create any shenanigans since it might create a stigma that would further put cryptocurrencies in a tight spot which can ultimately affect everyone.

elnykate

newbie

Activity: 25

Merit: 0

In my country, the law on the crypto currency is not adopted. And there is no provision for paying taxes in this area. But I will be forced to pay taxes in the event that the law is passed.

bamita132

newbie

Activity: 26

Merit: 0

Try not to deduce in Fiat large sums per person, break up into small amounts and use the help of family and friends!

Natusik

jr. member

Activity: 224

Merit: 1

Fortunately, in my country, in Ukraine, has not yet been taxed operations with crypto-currencies. But I personally have operations for small amounts, so in any case, i think that they are not interesting for the state

bunny0612

jr. member

Activity: 280

Merit: 2

In my county, there is no tax law on crypto yet. However, if detected, it will be punished by money. So when I change crypto to fiat, I have to deal with not too large amount to avoid detection.

laelyy212

newbie

Activity: 23

Merit: 0

There is nothing bad paying taxes for profit, since it will bring income revenue into your account, and apart from that it even make sense to pay taxes it give freedom from tax authority

romero121

legendary

Activity: 3206

Merit: 1213

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Paying taxes for the profit is up to the users personal. Some governments clearly quote with the tax to be paid for each and every earning that happens related to bitcoin and cryptocurrencies. Taxation is the one that has lead more governments focus upon the regulation of using cryptocurrency.

shaun98

member

Activity: 238

Merit: 10

At the moment I do not. I think in my country, I will only need to pay for taxes if I withdraw my tokens into fiat

liseff3

sr. member

Activity: 532

Merit: 255

In the world of cryptocurrency, everything isn't that difficult to run and easy to do we do not need a third party called "Accounting Services" because the business of cryptocurrency can be done anywhere and anytime, even if only with a Smartphone.

Until now I have had some tokens from ICO, I have not sold anything yet instead of waiting for the right time.

I will pay taxes if the government can give a sense of security to us of course as a crypto user in the country.

k-west

member

Activity: 336

Merit: 10

No I dont pay anything and I dont think I am gonna start doing it.The one of the benefits of crypto is its anonymity and nobody can make you report about your funds and trades.It is even funny.

alttry2019

member

Activity: 106

Merit: 10

Of course. This is what we should do. But we have to earn profit first.

shaheer001

full member

Activity: 1274

Merit: 100

It depends on country rules about taxes on fiat and crytpo currencies. So if you leave in such country where taxes are implemented on crytpo currencies then you must pay it,But the country yet not has/have any rule about crypto currency trading then you are still free.

HighlanderMonk

member

Activity: 266

Merit: 12

I live in Russia, and in this country full of corruption, the government have no clue what is cryptocurrency. So we dont pay any taxes for now.

Jeepney_koh

jr. member

Activity: 182

Merit: 2

dApps Development Automation Platform

Quote from: NScryps on February 28, 2018, 10:44:13 AM

Hi.

i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.

however i think it's an issue need to be dealt with.

1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's

WHAT SHOULD I DO??

Situation depends on the country you reside. If you want an accurate and more reliable answer, I suggest you specify or tell your country. In my case, because I only encash minimum amount, I usually dont pay tax.

yerger

newbie

Activity: 98

Merit: 0

I don't know where I can pay Tax in my Country. Maybe it because I still college and I don't know anything about tax or anything like that. For now, I think i just keep my money, but I often pay zakat with my profit from crypto.

asd9znnn9999

newbie

Activity: 24

Merit: 0

If you are dealing with a huge amount maybe that's the time that you really need an expert for that. But if you can really trust yourself with those transactions and been studied that, so it's up to you

calinguyen

newbie

Activity: 28

Merit: 0

Interesting question. Until now BTC is not legal in my country so I dont need to pay Taxes

Milamol

member

Activity: 686

Merit: 11

I earned a little in crypto. I think that the tax office have not interested in me. When earnings become significant, it is possible that the relevant laws will be enacted and I will know what to do.

vladaziya1

newbie

Activity: 160

Merit: 0

No, I did not use it at all, since this can be done by myself, because it's not so difficult. Maybe for some it's not acceptable.

vvfvcxl

newbie

Activity: 84

Merit: 0

I think it depends on the country. If the price requires us to levy taxes, I think we should pay taxes in accordance with the law, not thinking of escaping.

Topic: do you guys pay Taxes for profit? - page 13. (Read 1865 times)