do you guys pay Taxes for profit? - page 20.

tulpash

full member

Activity: 336

Merit: 100

Quote from: GandiwaSF on April 03, 2018, 10:18:02 AM

nope, depending on where you live because each country has its own rules, and for myself there is no such regulation in my country, but if needed I will do for my love cryptocurrency Grin

In my country, too, there is still no law on crypto currencies. In any case, while I am changing small amounts of crypto currency for fiat money, for me this is not a problem. In the future, there may be a country in which there will be no taxation on the crypto currency.

GandiwaSF

full member

Activity: 364

Merit: 100

nope, depending on where you live because each country has its own rules, and for myself there is no such regulation in my country, but if needed I will do for my love cryptocurrency Grin

Wyne

full member

Activity: 531

Merit: 102

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??

I guess, it is depend upon the country you are living right now. There are many investors, traders and bounty hunters who earn lot of cryptos but we pay no tax here in the Philippines. This is because there is no specific law here requires crypto income to deduct tax. So, it is depend upon the country's law. If your country requires all crypto investors, traders and bounty hunter to pay tax then, it is better to pay tax to avoid future conflict.

DyllanGM

full member

Activity: 235

Merit: 100

We could be fro different countries so there could be different approach to your problem, or in my case, its not a problem at all since our government has still no rules and regulation about taxing income from cryptocurrency. So be sure to ask proper authorities in your country if it is already taxable and if it is, how it is done.

adolf512

full member

Activity: 532

Merit: 101

Each country has its own policy, about taxation crypto currency. most countries are just eyeing and thinking about what to do with crypto-currencies. I think there are not many people who want to pay taxes on their profits from crypto currency))

alt18coins

jr. member

Activity: 261

Merit: 2

Its depend on country's policy.If a country says to pay taxes to the people so it is our responsibility to follow the rule.If anyone can use crypto he need to know the all rules of the country where he live in other country people not pay taxes.But some other country people pay taxes for profit and it is important for decentralisation..

papagravel

member

Activity: 490

Merit: 11

I'm lucky I live in Belarus, we have since the beginning of April it enacted a law exempting people from income tax if you leave the fiat through the Belarusian stock exchange.

IrenNTA

full member

Activity: 364

Merit: 101

"One Token to Move Anything Anywhere"

We don't have any regulation in our country yet, so I don't pay any taxes. Our government promised to issue new laws till the end of Q2, so most likely we'll be obliged to pay taxed in the nearest future.

Cult

full member

Activity: 479

Merit: 100

Enter the future of gaming

I am convinced that taxation is theft and govenments forcing you to pay taxes are no better than robbers, but the first are also trying to sugarcoat the robbery in words about elusive common good and welfare. For that reason I'm trying to pay as little taxes as possible.

Mikado$

newbie

Activity: 170

Merit: 0

Currently, as far as I know, some countries like Japan have applied tax administration types to tenderers on commercial crypto sites. And some do not yet have tax regulators for the crypto market. If they apply tax for the assurance of the problem of the investors in the cryptographic market. We may lose another transaction fee that includes a tax.

Jumli

member

Activity: 121

Merit: 10

I do not do that at all but I do with a car that I think is better than that, like giving little to my other family.

Nilda

member

Activity: 336

Merit: 14

From where I am right now, no. I don’t know in other countries. If ever they decided to tax cryptocurrency, I think it would be from the transaction fees.

btcdevil

legendary

Activity: 1302

Merit: 1027

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??

Here in my country i show as short term gain through trading just like we do taxation for equity trading. As still our government have not disclosed detail about crypto currency so from my part i am paying tax so that in future if their is any taxation amendment i should be not in problem.

paynercash

member

Activity: 392

Merit: 10

send and receive money instantly, with no hidden c

Are not. In my country I have not accepted Crypto and the government can not manage all of our BTC trading activities. So I do not lose any tax from the profit of the BTC. I only charge per transaction.

BaeNaNa

full member

Activity: 286

Merit: 100

Cryptics

No i'm not because there's no regulation yet about crypto here and i don't know how should i do it. I already asked an accounting firm and they don't even know what crypto is so i guess there's still a long time until the government will implement tax on crypto gain. Maybe if the government change their stand and decide to support crypto, they can start making regulation about that.

aleksej.rozhkov

member

Activity: 238

Merit: 10

Of course, the country's policy depends a lot and it can not be said straight away. Therefore, managing your money, you must know the economy.

IamAltcoinfan

full member

Activity: 476

Merit: 103

homt.net

Still i am not having Idea recently i communicated with auditor as i bougth crypto currency initial using fiat currency that can be investment . Later whatever i am doing in exchanges will not consider . So finally i have to pay tax for the whole money i withdraw from local exchanges.

max65

member

Activity: 273

Merit: 10

In our country as of today,crytocurrency is not popular and recognize.If ever the government were recognize and legalize cryptocurrency in our country,that's the time we pay taxes for profit because government's rules or policy.We had nothing to chose just follow.

ujinice

member

Activity: 574

Merit: 15

I'm not going to pay any taxes on profits from trading or ICO. For this purpose, offshore cards were invented.

espellogo7

newbie

Activity: 229

Merit: 0

Im not paying a tax profit because in my country there is no laws for regulating crypto currency. Crypto is decentralised and there is no law guiding to be taxed,, therefore users of cryptocurrencies can enjoy the advantages of being located in sector of economy legal prevails.

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