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Topic: Have people been forced to pay tax over Bitcoin yet? - page 4. (Read 5519 times)

member
Activity: 574
Merit: 12
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
Of course, any activity that generates profit can be taxed by the state. Crypto currency and bitcoin, in particular, is no exception. Already many countries have established income tax on the crypto currency, including capital gains tax. This has already been quite successful in Japan, where both the state and citizens receive income from this activity. Therefore, the tax will have to be paid. If someone believes that the crypto currency can not be taxed because of its anonymity, then it is wrong.
newbie
Activity: 44
Merit: 0
I have not yet come across this, but I know that in some countries the crypto currency is introduced into the tax return. Soon this will be the norm everywhere.
full member
Activity: 504
Merit: 101
for the moment no one is forced to pay tax on bitcoin, in every country there is no provision of tax bitcoin tax, the government also can not force ask tax bitcoin

This is a common misconception, do your research and you will notice you have to pay tax if you made money if you were investing or gambling. Governments don't care what game you played or where you invested, they care about your profits and want a part of it.

You are paying tax yes, but that is if you do it through the conventional investments or gambling. I don't think traders and crypto gamblers are being taxed just yet. Well if there are then it's probably very minimal that not many know about it
For some countries, bitcoin  has been regulated with a tax, for our country although it is not regulated we are not forced to pay and to declare our income as part of our other income, I just don't know what other countries are doing for their people.
hero member
Activity: 1246
Merit: 529
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for the moment no one is forced to pay tax on bitcoin, in every country there is no provision of tax bitcoin tax, the government also can not force ask tax bitcoin

This is a common misconception, do your research and you will notice you have to pay tax if you made money if you were investing or gambling. Governments don't care what game you played or where you invested, they care about your profits and want a part of it.

You are paying tax yes, but that is if you do it through the conventional investments or gambling. I don't think traders and crypto gamblers are being taxed just yet. Well if there are then it's probably very minimal that not many know about it
member
Activity: 107
Merit: 10
Decentralised Wearable Devices
for the moment no one is forced to pay tax on bitcoin, in every country there is no provision of tax bitcoin tax, the government also can not force ask tax bitcoin

This is a common misconception, do your research and you will notice you have to pay tax if you made money if you were investing or gambling. Governments don't care what game you played or where you invested, they care about your profits and want a part of it.
newbie
Activity: 27
Merit: 0
In a way, it has: you can make all the profit you want from BTC or other cryptocurrencies, but as soon as you try to cash in your profit - you have to "go back" to  the fiat world, and that's when the governments catch you and you pay that tax on that extra income
full member
Activity: 490
Merit: 107
Actually, haven't saw information regarding this in the diverse sources yet.
The law is not yet formulated on the bases  on tax collection because of the bitcoin being decentralized and being anonymous, that's why the government and crypto currency is not in harmony due  to taxation.
newbie
Activity: 185
Merit: 0
Actually, haven't saw information regarding this in the diverse sources yet.
newbie
Activity: 146
Merit: 0
for the moment no one is forced to pay tax on bitcoin, in every country there is no provision of tax bitcoin tax, the government also can not force ask tax bitcoin
member
Activity: 107
Merit: 10
Decentralised Wearable Devices
It´s not so simple. Even if your country has no regulations to cryptocurrency you would still be obliged to pay tax as you have to pay tax also if you make a profit in the forex markets and many governments make no difference if it´s regular currencies or crypto currencies your are speculating with.
hero member
Activity: 2884
Merit: 579
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I think it's no need must to pay tax on bitcoin.
If you live in a country that they force regulations to cryptocurrency then you should start paying bitcoin.

But as long as there's no enforcement and law by the said country about taxation for bitcoin, I guess you have to voluntarily go to the taxing commission and file your income tax.
member
Activity: 350
Merit: 11
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
I am a little confused what do you mean, bitcoin taxes to the government or taxes when we withdraw or send or exchange? if it is to a government that I know is only a country that legalizes bitcoin that charges taxes, but for countries that prohibit and people still use bitcoin, they are tax free only charged fees at the time of redemption or withdrawal.
newbie
Activity: 54
Merit: 0
I think it's no need must to pay tax on bitcoin. But maybe for the country that has legalized bitcoin already has its own rules to pay taxes on the government, I myself not knowing it yet.. I must paying a taxes to the government considering the government in my country hasn't to regulating bitcoin.
jr. member
Activity: 182
Merit: 1
the taxpayer must also include the ownership of bitcoin in the property column of the annual tax return. If not include, then the property is found by the tax officer then the taxpayer can be threatened sanctions in the form of fines.
full member
Activity: 1736
Merit: 121
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

No experience on that yet. Bitcoin tax has not really been a problem. People still make free money from it and don't remit anything to government because it has not been brought into the constitution.
newbie
Activity: 144
Merit: 0
Quite curious if this has been the case. Obviously, I'm hoping it hasn't been the case.
If in my country this has not happened yet and I am not forced by anyone to pay taxes on Bitcoin. Bitcoin is still very free in my country and the Government has no right to impose a tax on Bitcoin. Because Bitcoin status in my country is not yet valid, so there is no Bitcoin tax regulation in my country yet.
member
Activity: 322
Merit: 23
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

I've heard that people in US are now obliged to do it for their crypto investments but many of them really did  not want to. They are not forced but it looks like it's the same because they will be penalized if they don't follow it.
Yes, that's why the US has a tax day and that happen lately. Having that force tax to the people was good to the economy if the government did not corrupt it. Well, luckily here our country bitcoin was freely on tax as of now we enjoy using bitcoin without getting any tax from my government that's the part we enjoy using bitcoin.
full member
Activity: 476
Merit: 100
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

I've heard that people in US are now obliged to do it for their crypto investments but many of them really did  not want to. They are not forced but it looks like it's the same because they will be penalized if they don't follow it.
member
Activity: 532
Merit: 18
Bitcoin lover!
Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
I can disappoint you, because it is time to legalize the crypto currency in each state and along with the establishment of the status of the crypts and the definition of the rules for its circulation inside the country, issues related to its taxation will be simultaneously addressed. Despite the statements of some people on this forum that the crypto currency can not be taxed, we see that in some countries, such as Japan, taxation is quite successful for crypto currency, and it brings profit to both citizens of these countries and the state. Therefore, we will have to pay taxes when dealing with crypto currency in the cases provided by law.
member
Activity: 107
Merit: 10
Decentralised Wearable Devices
I live in a country where gains in crypto are taxed above 30%, but there are countries where you pay much less, in some countries you have zero tax. Example would be Denmark. Very smart, will attract a lot of wealthy people to Denmark
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