The Philippines has quite a neutral stance on cryptocurrencies. It hasn't issued any formal regulations regarding taxation but it sure has issued a circular regarding cryptocurrencies as investments and/or assets that can be used as a vehicle for fraud etc. Before signing up in an exchange here, you must fill up a KYC form that states your source of funds for your account--which is quite a bummer IMO--in order to have your account verified. Perhaps the Philippines is already conditioning the users about their plans to tax crypto gains since they are slowly making a move starting from regulations and stricter KYC.
Interesting, thanks for sharing that. Wouldn't be surprised either if gains are taxed. Taking into mind what you said, could also be a way to attracts more users right, most nations taking different approaches however the goal looks similar, get everyone onboard slowly but surely.
Anyway i'll make sure it's included on the site and will also look into tax laws in your area while i'm at it. Website will be update for your guys this weekend, if theirs anything else you feel worth mentioning please let me know, welcome to PM.
If you could post information on tax laws in your country it will save me allot of time searching etc Have briefly explained the tax laws for U.K and Germany through
so you want others to write your book. Why others will do it; I am unable to understand.
even if someone writes I advise you not to include it because you must provide authentic reports only. Others if provide materials based on false information then what will you do? You are just going to add.
Collect correct and authentic information and write yourself.
Sure, that's Understandable. Made it clear only brief outlines were requested, maybe could have explained more on how everything will be double checked, although thought it would have been obvious. Wouldn't make sense to put all this effort into something only to compromise on quality later.
Appreciate your concern, Rest assured anything mentioned will be looked into which is why links were also asked for so any information could be verified later,
I really don't care about tax. That is the beauty of anonymity. I think that day we start to pay tax we can consider like first day of the end of Bitcoin. Just be creative. You have Bitcoin ATM around the world. Simple. Use DEX, local and Bitcoin ATM
Couldn't help but smile reading your comment. As mentioned only reason for adding the informations is to give the website a complete feel for beginners, with transparency when entering the market. How they choose to apply it is out of my control. Understand the complications however have no intentions of encouraging others to go against their local laws. Sure you can understand..
in my country crypto is strictly prohibited so the law that regulates crypto is not implemented.
Gives me an idea, I'll also state which countries haven't yet implemented laws so users are aware.
Anyway thanks for the input. The market clearly needs time to mature, i'll just add links to sources of information for now before things settle. Once we have some certainty i'l begin working on videos etc
