Have people been forced to pay tax over Bitcoin yet? - page 5.

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

I have a point here for it. Though India is yet to accept / legalize Bitcoin, the Income tax department went on a ride with the traders in a metro city. They were caught and asked to pay tax for the earning they made. The proof was their bank statements given by the respective banks. Large transactions made ITO suspect on this moments. But later, it became normal. Its good to pay tax when bitcoin is legally accepted.

Virtual miner

sr. member

Activity: 728

Merit: 275

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

Forcing people to pay taxes is not what we expect in our country... where the government is formed following the principles of democracy. The Constitution of India has prescribed rules and formats for the tax payers and tax computation. So if the earnings from the bitcoin fall under any of the heads prescribed under the law, then it would be liable for tax.

Umkar

member

Activity: 364

Merit: 10

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

In the near future all states, along with consideration of the issue of legalization of the crypto currency, that is, its classification, determination of the conditions for its circulation inside the country, will have to consider the taxation of bitcoin and other crypto currency. Some countries, such as Japan and the US, have successfully applied the tax legislation to the crypto currency. Therefore, we want it or not, and the crypto currency will be taxed along with Bitcoin, which we will have to pay. If we want bitcoin and other crypto currency to be legally used in every state, we have to pay tax on profits from operations with crypto-currency and a capital gains tax on increasing its value.

Edraket31

hero member

Activity: 1190

Merit: 511

Quote from: crisanto01 on April 02, 2018, 01:36:01 PM

Quote from: NeuroticFish on April 02, 2018, 01:19:49 PM

Quote from: Edraket31 on April 02, 2018, 01:12:19 PM

The word forced is inappropriate

Actually I've seen in newspaper that a guy faced a charge for money laundering because they've found Bitcoin worth 100k EUR on his computer (he has been arrested for being a hacker and this is how they've got access to his computer). It's close enough to "forced".
But his lawyer managed to get papers from ANAF (our IRS) showing that Bitcoin is not taxed.
The news is here, but you have to use google translate for it.

Of that is sad to hear, maybe taxation in cryptocurrency in their country is legal that is why, I hope that no one will be arrested here in tis forum about that and we'll all gonna comply with the law so that it won't cause any problem in us in the future, let us obey rather than committing a crime.

In our every action there is a consequence, whether it is good or bad, so the problem is we already know what is right and wrong yet we are keep doing wrong and trying to escape if we have the chance, so make this story a moral lesson guys, if tax is required you have to pay for it, we have an obligation as a citizen.

crisanto01

sr. member

Activity: 644

Merit: 253

Quote from: NeuroticFish on April 02, 2018, 01:19:49 PM

Quote from: Edraket31 on April 02, 2018, 01:12:19 PM

The word forced is inappropriate

Actually I've seen in newspaper that a guy faced a charge for money laundering because they've found Bitcoin worth 100k EUR on his computer (he has been arrested for being a hacker and this is how they've got access to his computer). It's close enough to "forced".
But his lawyer managed to get papers from ANAF (our IRS) showing that Bitcoin is not taxed.
The news is here, but you have to use google translate for it.

Of that is sad to hear, maybe taxation in cryptocurrency in their country is legal that is why, I hope that no one will be arrested here in tis forum about that and we'll all gonna comply with the law so that it won't cause any problem in us in the future, let us obey rather than committing a crime.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: Edraket31 on April 02, 2018, 01:12:19 PM

The word forced is inappropriate

Actually I've seen in newspaper that a guy faced a charge for money laundering because they've found Bitcoin worth 100k EUR on his computer (he has been arrested for being a hacker and this is how they've got access to his computer). It's close enough to "forced".
But his lawyer managed to get papers from ANAF (our IRS) showing that Bitcoin is not taxed.
The news is here, but you have to use google translate for it.

Edraket31

hero member

Activity: 1190

Merit: 511

Quote from: sundul on April 02, 2018, 10:12:28 AM

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously, I'm hoping it hasn't been the case.

In my country, Bitcoin has not been legalized and the use of Bitcoin in my country is still very limited. So it is very clear to all of us if the Government or any other party is not entitled to collect taxes on Bitcoin. And even if there is a force, I will not.

The word forced is inappropriate, if the government tells to us that we should pay tax over bitcoin then we should just follow, it is better than totally banning bitcoin due to where are not following the rules of our country, so it is better than anything else, it is better to abide the law.

sundul

newbie

Activity: 152

Merit: 0

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously, I'm hoping it hasn't been the case.

In my country, Bitcoin has not been legalized and the use of Bitcoin in my country is still very limited. So it is very clear to all of us if the Government or any other party is not entitled to collect taxes on Bitcoin. And even if there is a force, I will not.

Bardman

hero member

Activity: 952

Merit: 516

Quote from: Sithara007 on April 02, 2018, 09:25:41 AM

How are you going to pay taxes on profits from Bitcoin trade, in countries such as Bangladesh and Nepal? Bitcoin is banned in these countries and if you include the trades in your tax return then the chances are that you will be detained and fined by the tax authorities.

You shouldn't be using bitcoin then lol. If you are from a country that has banned bitcoin then don't use bitcoin, it's better to not break the law than risking it, although it would be pretty hard, close to impossible for the authorities to ever find out that you own bitcoin.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

How are you going to pay taxes on profits from Bitcoin trade, in countries such as Bangladesh and Nepal? Bitcoin is banned in these countries and if you include the trades in your tax return then the chances are that you will be detained and fined by the tax authorities.

TrumpD

sr. member

Activity: 602

Merit: 265

There are direct tax implications for bitcoin yet. This is probably one of the issues for governments and the talking of probably regulating the space by July this year. However, there are indirect taxes associated my bitcoin and other cryptocurrencies, this would mostly do with Exchange sites that perform such services. As they are registered businesses, they are obliged to pay taxes to the governments. Thus, for we customers who use their services, they would have considered these tax implications when charging us a fee for the service of exchange they provide to us.

Zabrielle

full member

Activity: 294

Merit: 105

Nope. In my country bitcoin is not yet legal but not illegal. But for the government knew about this kind of vitual coins that exist and most or filipino people are engage with it as a source of income. So far no violent reaction fom our government.

nebuch

member

Activity: 588

Merit: 11

So far I don't know yet this kind of issue. Blaming the banks for this if it could implement in one country for only the banks can have an access to government officials to give law of tax to all bitcoiners who have huge amount of money when it come to exchange. Government will fall easily to banks proposal for it could help the country to have more profit from cryptocurrency because of members citizens who are bitcoiners. I don't have a clear understanding with this.

zmkriel

full member

Activity: 406

Merit: 105

Quote from: F12TRS on October 07, 2017, 04:38:13 AM

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

I don’t think that it is implemented yet or atlest not in my country. We are still free to use bitcoin without any declaration with our earning through bitcoin. Well, i am also hoping that it will not going to happen in the future since bitcoin was created as decentralized currency. So it should be free from taxes and being contolled by the government of any country.

denny27

full member

Activity: 546

Merit: 101

★Bitvest.io★ Play Plinko or Invest!

Quote from: galaxing on March 31, 2018, 06:16:12 AM

no, it has not happened yet, and I do not think it will happen now.
but I can not confirm, maybe tomorrow or the day after, the tax payment will be applied.
if so, yes I will definitely follow its regularity, but I beg, please scammery pishing, hacking, it must be cleaned, bitcoin regularity should be even tighter.

Well and everything is still a consideration for most governments that haven't regulated bitcoin or accept it to protect negative actions on bitcoin. Anyhow it's still a question mark or the country is still monitoring crypto about the influence or impact it that can generate from it given its characteristics. If it has been fixed to accept bitcoin/crypto probably there will be applied a tax, and I think should not feel forced if the state already applying taxes.

galaxing

jr. member

Activity: 168

Merit: 1

no, it has not happened yet, and I do not think it will happen now.
but I can not confirm, maybe tomorrow or the day after, the tax payment will be applied.
if so, yes I will definitely follow its regularity, but I beg, please scammery pishing, hacking, it must be cleaned, bitcoin regularity should be even tighter.

Snaic

full member

Activity: 658

Merit: 102

Quote from: Protected101 on January 17, 2018, 12:37:15 AM

I think it depends on the government of our country but as we know bitcoin was decentralized and cannot forced to pay taxes over bitcoin.I think the charges or fees when we transferred money is consider as our taxes.They have not enough rule to imposed a tax to those bitcoiners.

Whether we want it or not, in the near future practically all states will consider the issue of taxation simultaneously with the decision of the issue of legalization of the crypto currency. This is one of the important stages in the formation and development of the crypto currency. The profit tax on operations with the crypto currency and the capital gains tax with the retention of the crypto currency will be accepted in most countries and then we will have to pay it. In different countries, its terms of payment and the amount of tax will differ, but it will be installed on a par with it. Commission fees for the conduct of transactions can not be considered a tax payment, it's just the cost of maintaining the health of the system blockchein. Taxes are paid to the state and credited to the state budget and this is its difference from other payments.

burner2014

hero member

Activity: 952

Merit: 515

Quote from: Ilaybit on March 10, 2018, 04:02:36 PM

According to some laws in America people have obligation to pay taxes on their income and crypto is not specified, but it's in a group of things to be taxed.
I read somewhere that, maybe someone can find something about that matter.

There are really certain countries that requires you to pay taxes, because it was law regulated and you are obliged to follow the rules if not and they found and then jail is your next destination, so it is fine to go and pay taxes rather than going to jail, so lucky if your country is not requiring you to pay.

Ilaybit

newbie

Activity: 33

Merit: 0

According to some laws in America people have obligation to pay taxes on their income and crypto is not specified, but it's in a group of things to be taxed.
I read somewhere that, maybe someone can find something about that matter.

glowing10

full member

Activity: 812

Merit: 142

Quote from: Ahiaba on March 08, 2018, 04:36:39 PM

All depends on the country for which you live for there are country where Bitcoin and crypto currency in general are not accepted as a means payment for goods and services and in such countries you will need not to pay tax but countries where it is accepted as a means payment for goods and services you are expected to pay tax.

As per country laws and regulations one has to pay the tax and if not paid the government would take the action according to their rules and might even impose penalty and can frame them under section of their laws. In coming time we will hear more of this news as people who are avoiding paying tax might have to pay penalty on those taxes along with the tax.

Topic: Have people been forced to pay tax over Bitcoin yet? - page 5. (Read 5519 times)