Topic: Is Taxing Bitcoins Possible? - page 4. (Read 745 times)
It's fine even if the money is taxed we have surety that govt. Shall not ban crypto
Its imposible because its untracable..if ever it would be i guess there is a long process..
Tax not possible to catch. Because, there is no owner of Bitcoin. System is regulated. Because of the failure of tax on the island. In today's illegal countries
Bitcoin in our country is already spread the news about it when bitcoin reached the 1M price.i guest they're not going to put tax bitcoin because they just earning as to careful when you invest because we might scam fake crypto.
I'd be willing to put money on whatever country you're living in starting to tax Bitcoin at some point, it's simply far too lucrative for getting taxes from and it's almost free money for the government under most circumstances. Plus having the taxes be developed around them helps to cement their control over the entire developing economy, which is something absolutely all of them would want to have happening. Even if Bitcoin thrives right now, there's going to be a high chance it won't be like this forever. Governments are going to start getting aggressive eventually, assuming they aren't also exploiting the crypto market situation as well.
Don't know if they can tax Bitcoin per say, but they can definitely get you when you cash out.
It is already taxable. In fact, in my country government is strictly after big investors and had issued them tax notices for investment in crypto.
Bitcoin in our country is already spread the news about it when bitcoin reached the 1M price.i guest they're not going to put tax bitcoin because they just earning as to careful when you invest because we might scam fake crypto.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
I think it is impossible to tax bitcoins. But taxing fiat money out from bitcoins (trading bitcoins to fiat money) is indeed possible. The government may count this as income and may place an income tax on it. Unless they impose a law to tax cryptocurrency-fiat conversion by a certain percentage.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
Yes it is possible if government will handle the cryptocurrency in different countries. It was a very bad idea if they will place tax on bitcoins since the tips on exchanger is very expensive today. Placing a tax on bitcoins is a very bad idea for the government it was like they will only milk the miners from getting taxes to them.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
Yes it is possible if government will handle the cryptocurrency in different countries. It was a very bad idea if they will place tax on bitcoins since the tips on exchanger is very expensive today. Placing a tax on bitcoins is a very bad idea for the government it was like they will only milk the miners from getting taxes to them.
If you're not an active trader, can't you just track all of your transactions to show the government that you're a clean transactor? I'd HIGHLY recommend keeping a handle on all of your transactions for tax time, the IRS is going to come knocking any time you show a huge gain that sticks out like a sore thumb.
In terms of laundering don't even bother. It is never worth it to launder. whatever gain you can make by avoiding taxes will be negated 10x over if you have to deal with the government. I remember one time I got audited for one simple stock transaction where I made something like $3k, I was sending snail mail correspondence back and forth to the IRS for months. It was an error that THEY made, and it was just $3k, but they were painful to deal with. Play it straight my friends, always.
In terms of laundering don't even bother. It is never worth it to launder. whatever gain you can make by avoiding taxes will be negated 10x over if you have to deal with the government. I remember one time I got audited for one simple stock transaction where I made something like $3k, I was sending snail mail correspondence back and forth to the IRS for months. It was an error that THEY made, and it was just $3k, but they were painful to deal with. Play it straight my friends, always.
I think it's possible to do it, but it's extremely difficult and it's very expensive. When a person submits his income. That state will impose a certain tax. And here it is very difficult to know how many bitcoins a person has. Development that with the help of exchanges
In my counties, Bitcoins are already taxable. There are huge taxes on Bitcoins and it may increase in future.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
In my country they are already putting some tax into capital appreciation, around 15%, wich is like income tax. But I don't know if is possible tax it before you take the money of it. That would be so rude! Thanks God it won't be possible. 
There may be a slight chance in taxing bitcoin but that would take so much work just to track and tax one person also bitcoin transactions happen worldwide I dont know if they can create a program so perfect to track and tax every transaction made who knows... but I want you to know it is possible with the technology in our time it can be just like when bitcoin is impossible now it is. Specially if your government patronizes crypto currencies tax can be imposed.
I think it depends, it may be both possible and impossible. But if taxer want you to give your taxes related to bitcoin, you may have to show your all transactions?
It is already being taxed, come to thinks of it the internet services,block chain fee transaction are tax goten for companies the that has those servers.
Most of the countries all have taxation rules for cryptocurrencies and the gains you make through trading them. Its just how they will enforce it? The bureaus are not prepared to deal with such a huge information flow yet, but its just question of time.
Depends...if exchange have to say info about subscrivers, force by government
If the government will adopt and engage digital currencies, it is not possible for them to tax bitcoin. And I think that it would be okay for as long as they would not interfere with the holdings of each bitcoiners. And for as long as they would not ban that because it is the right of every person who would like to have bitcoin for their own.
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