Topic: Does Bitcoin need to be taxed? - page 2. (Read 1328 times)
Why tax something which the govt. doesn't recognize as of now.But yes in coming years,seems a possibility that earnings through BTC may be taxed.Entirely depends on your nation and the local govt.
Taxation will allow the crypto currency to be established more quickly in the world and all states will favorably treat it. However, we already pay for the transaction, plus tax ... This issue needs to be settled by the creators of bitcoin.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
Depends upon where are you living. If you do think that applying tax in cryptocurrency would make a significant change in the government and in the country then nothing's wrong with that, but when a country is corrupted and most of the officials tends to apply tax to those poor people that doesn't have the capability to do so then it would be such a waste. Instead the thing we should do is somehow give somethings to charities to be sure that what we have given is served.
No, because the original idea bitcoin decentralized and should not be taxed. Therefore, some states forbid it.
as good citizens, we must abide by the rules of the country in which we live. one of them is by paying taxes. and for bitcoin users should also be taxed from what has been obtained. Thanks
Not at all, but if the government will tax the coin well let them be and we just need to follow, the profit in cryptocurrency can be tax by the government because as a citizen they have the right to collect part of our earnings. tax is better than banning it.
I believe that bitcoin should not be taxed. The commission that we pay for the transaction is quite enough. 
I think that there should be taxes when somebody earns money.
Paying taxes is benificial for the society we live in.
And when the public sees that people who work with crypto currencies contribute their part in the well being of the society, I think it will help getting even more acceptance.
Paying taxes is benificial for the society we live in.
And when the public sees that people who work with crypto currencies contribute their part in the well being of the society, I think it will help getting even more acceptance.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
It depends on the country, but there are somewhere you will need to pay taxes when you sell your BTC. For instance, in Spain apparently, you will need to pay 16% once you make cash your BTC and put it in your bank account. 16% is the payment from 0 to 6.000 euros, 21% when you sell between 6.000 and 21.000, and so. I don't know how Spanish government is going to manage the taxes, a mean, what kind of papers do you need to deliver to the institution, but I'm quite sure next year probably BTC is going to appear in some official taxes declarations documents.
To be honest I think bitcoin contains tax due to increasement of fees. Well as you see if your a bitcoin user, You might probabaly notice the high fee that is happening its like an tax our fee is like our tax increase or still stable it's still like a tax.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
When you holding bitcoin and stored into your wallet our government can't forced us to task or just asking task. Remember that bitcoin is decentralized no one big person behind bitcoin to manipulate or to control bitcoin. Taxation of bitcoin by our country is that impossible happen, but i think if you convert your bitcoin into your local fiat then if you are going cash out your money there's a transaction fees added in banks or other remittancies. And that's maybe your taxes paid or sort of being taxed.Our problem here is we see fees as fees not a tax if your wallet fee increase well think of it the head or creator of the wallet is using the increase payment fees in a government tax payment.
If people see bitcoin as a job well It's good it's a self employed job but don't think of it as tax freel, remember you have fee that controls your transaction.
For the main question does it need to be taxed? Well well it already been taxed but not byet the government buy the head of the exchange wallet itself.
In next future i think some countries will going to tax bitcoin.. Its lot of money!
In this point of view.I think the goverment would so rich and bitcoin users will do gown from its original income without any taxes. See this if taxed is colaborated bitcoin incomes you will see its problem thats is increasement of fee and low income return.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
I don't think bitcoins are needed to be taxed. It doesn't even needed to be regulated by anyone or any country since it's self regulating or rather regulated by everyone using or has bitcoins on them. I don't see why some government are trying to get their hands on the people's bitcoins.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
When you holding bitcoin and stored into your wallet our government can't forced us to task or just asking task. Remember that bitcoin is decentralized no one big person behind bitcoin to manipulate or to control bitcoin. Taxation of bitcoin by our country is that impossible happen, but i think if you convert your bitcoin into your local fiat then if you are going cash out your money there's a transaction fees added in banks or other remittancies. And that's maybe your taxes paid or sort of being taxed. 
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
It depends on the country, but there are somewhere you will need to pay taxes when you sell your BTC. For instance, in Spain apparently, you will need to pay 16% once you make cash your BTC and put it in your bank account. 16% is the payment from 0 to 6.000 euros, 21% when you sell between 6.000 and 21.000, and so. I don't know how Spanish government is going to manage the taxes, a mean, what kind of papers do you need to deliver to the institution, but I'm quite sure next year probably BTC is going to appear in some official taxes declarations documents.
In next future i think some countries will going to tax bitcoin.. Its lot of money!
Yes because it means government is accepting the legality of bitcoin. Once bitcoin is taxed it means its legit to do business with bitcoin. i believe that its fair to pay tax for earnings out of bitcoin.Perhaps a percentage tax can be paid out of bitcoin or alcoins earnings.
For the moment, the problem is not so important because (I guess), there are not so many bitcon users earning the equivalent of a monthly wage...
But many government are indeed worried about that... And that's why they are trying to implement dedicated legislation.
So, indeed, if you earn money with bitcoin and don't pay tax on it, then it is a "loss" for your country and the amount you have is lost for national welfare (health, schools, and so on).
BUT at the same time, when you pay taxes on your wage, you generally go through a traditionnal bank. So you pay fees for... nothing.
So I understand your idea... And I think the objective is to reach an equilibrium.. For the moment, well I would say that individual taxes actually don't make such a difference in the state's budget (just because many large firms are also playing with the system, and the loss, here, is far greater).
But many government are indeed worried about that... And that's why they are trying to implement dedicated legislation.
So, indeed, if you earn money with bitcoin and don't pay tax on it, then it is a "loss" for your country and the amount you have is lost for national welfare (health, schools, and so on).
BUT at the same time, when you pay taxes on your wage, you generally go through a traditionnal bank. So you pay fees for... nothing.
So I understand your idea... And I think the objective is to reach an equilibrium.. For the moment, well I would say that individual taxes actually don't make such a difference in the state's budget (just because many large firms are also playing with the system, and the loss, here, is far greater).
Depending on the government policy in your country. If bitcoin can be said to be a real job then it is fine if the government implements taxpayer rules for bitcoin users.
Not every country is the same, but generally government dont tax things. They tax income, profits and sales. With a few exceptions most taxes are under one of these. So if you regularly (daily) trade bitcoin and make income, they tax your income. If you make profit from holding longer term and make profit, they tax profit. They tax the sales if you buy something with bitcoin.
They dont need to tax bitcoin because they already do.
They dont need to tax bitcoin because they already do.
Each countries have their own set of rules about taxation, bitcoin is not own by any country around the world, so the question will be depending on how each countries decide about this industry, from where am I, bitcoin still tax free as the government here doesn't have any control yet, they only give rules from the exchange who's catering the transfer, but if ever the government will create rules about it I will surely complied and won't argue, better to help my country in a small way so we can build a better nation someday.
I think there should be some taxed on bitcoin and that goes to the country from where user belong because in this way if many countries will start legalizing bitcoin and that will be a great step for bitcoin if bitcoin accepted as a legal currency in any country. But remember tax on bitcoin should be low then other currencies so that users can't face any problem while paying taxes.
Not at all since bitcoin is decentralized which means the government don't have the authority to intervene on its transactions. But some countries are making a motion to taxed all crypto earners. So for now, let us just enjoy our tax free hard earned tokens.
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