Topic: Italy Wants to Treat Bitcoin as Currency And Tax It (Read 2724 times)
What I currently seeing right now is that if Italy added taxes to bitcoin which bitcoin already do has fees then it would really be a great pain on the pockets of the bitcoin users from Italy. We are already having a hard time to deal on our taxes how much more if it has added fees?
On September 2, Agenzia delle Entrate, the major Italian tax authority, published a new document titled “Bitcoin and digital currencies buying and selling: clarification on the tax treatment” about the fiscal treatment of Bitcoin and how VAT would be applied to digital currency transactions.
As if paying service fees for exchanges is just not enough.Their primary target will be exchanges and wallet services.Centralize all the wallet services with bunch of rules and destroy the markets for p2p exchanges.Bring in new laws to control the free resources.I'm not sure If it's something to be happy or sad about ? (treating bitcoin as a real currency and in the same time .. TAX IT) but well I guess that by the end of the day , Bitcoin won't go mainstream unless it is taxable.
They're threating bitcoin as a real currency to tax it.Nothing good about it.I'd rather use bitcoins for self purposes than buying a pack of cigarettes off a kebab shop in real life.
Any aspect coming from a government arm always has me a little edgy and with the current landscape of Italy,it would make me lean more towards damaging than good. This being a pass on taxes,I am kind of shocked.
Seems to be a financial and government problem presenting themselves as of late.
Italy really should not be even looking at bitcoin with the mess they have,but I can never really get a good gauge of European Countries and how they go about business.
Banking regulations seem to be more pressing of a issue for them.
Seems to be a financial and government problem presenting themselves as of late.
Italy really should not be even looking at bitcoin with the mess they have,but I can never really get a good gauge of European Countries and how they go about business.
Banking regulations seem to be more pressing of a issue for them.
Well, this is bad news for people who earn Bitcoin living in Italy, because one of the advantages Bitcoin was exactly what people do not pay taxes for it.
Thats a great news. So it means Bitcoin is accepted as a currency by the government. So it cant be declared as illegal there. I hope governments of all nations will follow this process. It shows Bitcoin can no more be avoided in the world.
Tax , this is the enemy of bitcoin and other crypto currency. It will never be the same if taxed. Transaction fee will be higher anf it will affect to any transaction, onlne comodity btc price etc. It is also another way of controlling the currency in my opinion. On the positive side, when it becomes legal tender then you can demand if any transaction is fraudulent.
there's nothing to do with the transaction fees,the transaction fees will remain the same (fees/kb) and there will be no additional fees because italy can't tax it directly to the transaction they don't have control over it,the only way is through merchantI agree on this. government cant directly implement tax on bitcoin but they can implement taxes on merchants. The item that were sold or if use at salary. This is where the government can implement taxes. Tx fee and other internal system of bitcoin will be untouched in my opinion. And we as bitcoin enthusiast should be glad that one country already acknowledged BTC as currency.
I don't think how the government of Italy is going to tax bitcoin as it is decentralized and per transaction that you are going to do with does have charge for its confirmation. But if this is going to happen in Italy then it is another success for bitcoin and this is going to add up again in the economy of bitcoin.
Decentralization of the bitcoin network has little to do with taxes. Network itself can't be taxed now and probably never will be, because there is no way to technically enforce it.If we wish for bitcoin to become real alternative currency used on par with FIAT, we unfortunately (because who wants to pay more taxes, really?) need to comply to some sort of tax law.
Then Italy will demand that exchanges in the country charge tax in addition to trading fees. That's the only way it can make money from crypto.
I think its a bad news, when government meddle up in bitcoin, the anonymity that we had will disappear and soon the government will be able to see our bitcoin transaction, but we as a citizen cant do anything about it, so we just can accept and obey the law
I don't think how the government of Italy is going to tax bitcoin as it is decentralized and per transaction that you are going to do with does have charge for its confirmation. But if this is going to happen in Italy then it is another success for bitcoin and this is going to add up again in the economy of bitcoin.
Tax , this is the enemy of bitcoin and other crypto currency. It will never be the same if taxed. Transaction fee will be higher anf it will affect to any transaction, onlne comodity btc price etc. It is also another way of controlling the currency in my opinion. On the positive side, when it becomes legal tender then you can demand if any transaction is fraudulent.
there's nothing to do with the transaction fees,the transaction fees will remain the same (fees/kb) and there will be no additional fees because italy can't tax it directly to the transaction they don't have control over it,the only way is through merchantThat Is my oppinion.
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Tax , this is the enemy of bitcoin and other crypto currency. It will never be the same if taxed. Transaction fee will be higher anf it will affect to any transaction, onlne comodity btc price etc. It is also another way of controlling the currency in my opinion. On the positive side, when it becomes legal tender then you can demand if any transaction is fraudulent.
there's nothing to do with the transaction fees,the transaction fees will remain the same (fees/kb) and there will be no additional fees because italy can't tax it directly to the transaction they don't have control over it,the only way is through merchant 
On September 2, Agenzia delle Entrate, the major Italian tax authority, published a new document titled “Bitcoin and digital currencies buying and selling: clarification on the tax treatment” about the fiscal treatment of Bitcoin and how VAT would be applied to digital currency transactions.
The document states:
Source : https://cointelegraph.com/news/italy-wants-to-treat-bitcoin-as-currency-and-tax-it
I'm not sure If it's something to be happy or sad about ? (treating bitcoin as a real currency and in the same time .. TAX IT) but well I guess that by the end of the day , Bitcoin won't go mainstream unless it is taxable.
The document states:
Quote
“Traditional currency intermediary activities made with virtual currencies held by market participants are exempt from VAT, as they are among the transactions related to banknotes and coins.”
Source : https://cointelegraph.com/news/italy-wants-to-treat-bitcoin-as-currency-and-tax-it
I'm not sure If it's something to be happy or sad about ? (treating bitcoin as a real currency and in the same time .. TAX IT) but well I guess that by the end of the day , Bitcoin won't go mainstream unless it is taxable.
I`m not surprised.Bitcoin IS a currency and should be taxed.
This is the way to adopt and legalize bitcoin,i guess.
I know that most of the bitcoin users don`t want to pay taxes and want to stay underground,but
we have to pay our taxes.
Tax , this is the enemy of bitcoin and other crypto currency. It will never be the same if taxed. Transaction fee will be higher anf it will affect to any transaction, onlne comodity btc price etc. It is also another way of controlling the currency in my opinion. On the positive side, when it becomes legal tender then you can demand if any transaction is fraudulent.
That is not a good thing for the people that make use of Bitcoin and life in Italy because now they have to give away a percentage from every earning that they get.
I hope that this is not going to happen in every country in the future.
I hope that this is not going to happen in every country in the future.
It totally defeats the purpose why bitcoin is made. For us to stay away from taxes and high transaction fees. It's a good thing that bitcoin will be in the mainstream of currencies but if they'll gonna put taxes same as FIATs thats not a very good sign.
Bitcoin is 100% decentralized, there's no way anyone would be able to put a tax in it. But for the sake of discussion, let's just suppose that Italy successfully have put tax in every Bitcoin user in their country. Since you're already here on the Internet, might as well find a way to hide your identity, right? It's not that hard to look for a modded elite version of Hotspot shield or maybe even buy it if you want to.
yes i am agree with you,, but if they have some special system through which they can impost tax on bitcoin users and can easily collect this tax then it is a good news even for bitcoin because Italy will first legalize bitcoin in their country and then they will impose tax on it. 
I think that's actually good for bitcoin that it is being labelled as a currency. Maybe many employers will also give this option to their employees to be paid in bitcoin as well, itf it is taxable like this. If demand for bitcoin comes high then it's a win-win all round.
Bitcoin is 100% decentralized, there's no way anyone would be able to put a tax in it. But for the sake of discussion, let's just suppose that Italy successfully have put tax in every Bitcoin user in their country. Since you're already here on the Internet, might as well find a way to hide your identity, right? It's not that hard to look for a modded elite version of Hotspot shield or maybe even buy it if you want to.
Ok explain to me how they wanna take control of a decentralized network?
They can't!!!
Avoid services where AML/KYC is required.Simple is that.
Furthermore Italy is not the first country taking taxes from Bitcoin users. Look at Australia for instance.
The won't have to take over bitcoin network, they will tax every bitcoin purchase done. Legally registered companies, shops, services have to keep their logs.They can't!!!
Avoid services where AML/KYC is required.Simple is that.
Furthermore Italy is not the first country taking taxes from Bitcoin users. Look at Australia for instance.
So taxing them or buyers won't be hard.
Staying away from AML/KYC services is not as simple in current situation. It is basically question: to use my BTC or be scared of KYC and don't use it.
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