Knowing your tax liability - page 2.

ahmad21

sr. member

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Quote from: Palmerson on April 20, 2018, 08:55:52 AM

It seems to me that the more popular the topic will be how to avoid paying taxes. Why do people voluntarily agree to pay taxes on the use of cryptocurrencies? In order to pay taxes, the government must provide full support to users. We can't see. That's why I don't feel obligated to pay taxes.

I agree with you on this aspect. The problem with the government is that they want to earn revenue but they do not eant to provide any support in this concern. that is why most of the members of the community resent to pay taxes. They do not want to contribute anything towards the revenue of the government because they do not support the bitcoin community.

We can well evaluate our taxation liability, but what we want is in which country do we have to pay taxes and to what extent we are exempted from paying the taxes.

makolz26

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Quote from: supermine on April 22, 2018, 06:34:54 AM

Quote from: Ivandvanko on April 22, 2018, 05:56:05 AM

the state wants to receive taxes even from going to the toilet ... why do ordinary people have to pay the country if the country does not want to take care of its people. it's very sad. We are not allowed to enjoy our short life Embarrassed

Normally all the countries are running by people's money so we need to pay taxes if we think it is our country.But in many countries the politicians made the country corrupted and they are keeping all the people in their pocket not taking care of the people who are paying that money.But as a citizen of the country you need to do your duty correct and the rest is the government and its system in hand.

Well, regardless of how politicians corrupting our money it will be their moral responsibility, we'll just hope that they cannot sleep well at night as a consequence of stealing our hard earned money, but, needless to say, we still have to pay our liability for our country no matter what especially when law requires.

supermine

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Quote from: Ivandvanko on April 22, 2018, 05:56:05 AM

the state wants to receive taxes even from going to the toilet ... why do ordinary people have to pay the country if the country does not want to take care of its people. it's very sad. We are not allowed to enjoy our short life Embarrassed

Normally all the countries are running by people's money so we need to pay taxes if we think it is our country.But in many countries the politicians made the country corrupted and they are keeping all the people in their pocket not taking care of the people who are paying that money.But as a citizen of the country you need to do your duty correct and the rest is the government and its system in hand.

Ivandvanko

newbie

Activity: 46

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the state wants to receive taxes even from going to the toilet ... why do ordinary people have to pay the country if the country does not want to take care of its people. it's very sad. We are not allowed to enjoy our short life Embarrassed

botany

legendary

Activity: 1582

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Quote from: richardsNY on April 21, 2018, 05:18:56 PM

Quote from: botany on April 21, 2018, 03:27:45 PM

You cannot say that crypto-to-crypto trades are outside the government's jurisdiction. The country where you reside basically owns you - you have to obey the rules. Even if you think that only crypto-fiat trades are trackable, at some point the government may get a whiff of your past crypto trades (when you finally convert crypto to fiat or spend it). They may then decide to come after you for making false declarations and back taxes.

If you obey the rules that are barbaric, you are basically agreeing to everything the government comes up with. In order to completely, or as much as possible disconnect yourself from any central environment, you have to transact locally on a peer to peer level. If you ever use a centralized service, and the government then browse through your logged activities, then yes, you'll surely get busted at some point. What I do is pay tax over everything that touched any centralized services, and keep everything that hasn't touched any service offline like it doesn't exist. I accept paying tax over what has been in contact with centralized services, because that's my fault entirely, but never accept paying tax over what I hold offline and isn't known to anyone.

Fair enough. But even if you transact on a peer-to-peer, if you transfer fiat to a bank account, there is a trail. If you deal in cash, there are limitations on what you would do the cash and how much you can hold. Paying taxes is one way you can stop worrying about all the little details. It is a small price to pay, considering that the alternative may be huge fines/jail time.

richardsNY

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Quote from: botany on April 21, 2018, 03:27:45 PM

You cannot say that crypto-to-crypto trades are outside the government's jurisdiction. The country where you reside basically owns you - you have to obey the rules. Even if you think that only crypto-fiat trades are trackable, at some point the government may get a whiff of your past crypto trades (when you finally convert crypto to fiat or spend it). They may then decide to come after you for making false declarations and back taxes.

If you obey the rules that are barbaric, you are basically agreeing to everything the government comes up with. In order to completely, or as much as possible disconnect yourself from any central environment, you have to transact locally on a peer to peer level. If you ever use a centralized service, and the government then browse through your logged activities, then yes, you'll surely get busted at some point. What I do is pay tax over everything that touched any centralized services, and keep everything that hasn't touched any service offline like it doesn't exist. I accept paying tax over what has been in contact with centralized services, because that's my fault entirely, but never accept paying tax over what I hold offline and isn't known to anyone.

botany

legendary

Activity: 1582

Merit: 1064

Quote from: darkangel11 on April 20, 2018, 03:24:21 PM

Quote from: Palmerson on April 20, 2018, 08:55:52 AM

It seems to me that the more popular the topic will be how to avoid paying taxes. Why do people voluntarily agree to pay taxes on the use of cryptocurrencies? In order to pay taxes, the government must provide full support to users. We can't see. That's why I don't feel obligated to pay taxes.

Not all countries require you to pay taxes on your crypto trades. Most of them want to have a percentage of your crypto to fiat trades, but crypto to crypto transactions are outside their interest and jurisdiction. Personally, I will not voluntarily disclose my crypto addresses to government institutions and I won't share any information regarding my cryptocurrency transfers. I'm also against taxes in general, but I'm not going to go to war with a bully that is much stronger than me. That's why if you trade for fiat and your country demands taxes it's either pay up or change the country.

You cannot say that crypto-to-crypto trades are outside the government's jurisdiction. The country where you reside basically owns you - you have to obey the rules. Even if you think that only crypto-fiat trades are trackable, at some point the government may get a whiff of your past crypto trades (when you finally convert crypto to fiat or spend it). They may then decide to come after you for making false declarations and back taxes.

stomachgrowls

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Quote from: darkangel11 on April 20, 2018, 03:24:21 PM

Quote from: Palmerson on April 20, 2018, 08:55:52 AM

It seems to me that the more popular the topic will be how to avoid paying taxes. Why do people voluntarily agree to pay taxes on the use of cryptocurrencies? In order to pay taxes, the government must provide full support to users. We can't see. That's why I don't feel obligated to pay taxes.

Not all countries require you to pay taxes on your crypto trades. Most of them want to have a percentage of your crypto to fiat trades, but crypto to crypto transactions are outside their interest and jurisdiction. Personally, I will not voluntarily disclose my crypto addresses to government institutions and I won't share any information regarding my cryptocurrency transfers. I'm also against taxes in general, but I'm not going to go to war with a bully that is much stronger than me. That's why if you trade for fiat and your country demands taxes it's either pay up or change the country.

My view about tax is really just an obligation which it isnt really should comes to a point on where we do against it since we do know that it do really help a certain countries economy for it to progress.Im a tax payer but would only be deducted to my day stable job.For now cryptocurrency things like exchange coins to fiat doesnt still have any tax being implemented.For some countries you are liable to have deductions but im sure sooner or later government would really have such act.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: Palmerson on April 20, 2018, 08:55:52 AM

It seems to me that the more popular the topic will be how to avoid paying taxes. Why do people voluntarily agree to pay taxes on the use of cryptocurrencies? In order to pay taxes, the government must provide full support to users. We can't see. That's why I don't feel obligated to pay taxes.

Not all countries require you to pay taxes on your crypto trades. Most of them want to have a percentage of your crypto to fiat trades, but crypto to crypto transactions are outside their interest and jurisdiction. Personally, I will not voluntarily disclose my crypto addresses to government institutions and I won't share any information regarding my cryptocurrency transfers. I'm also against taxes in general, but I'm not going to go to war with a bully that is much stronger than me. That's why if you trade for fiat and your country demands taxes it's either pay up or change the country.

Dasbeast

newbie

Activity: 1

Merit: 0

Also tax information for crypto in the Netherlands?

lysha

newbie

Activity: 41

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Pretty neat idea: add tax liability calculator in all crypto software. What do you think?

Palmerson

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Live cams shows pimped with cryptocurrency

It seems to me that the more popular the topic will be how to avoid paying taxes. Why do people voluntarily agree to pay taxes on the use of cryptocurrencies? In order to pay taxes, the government must provide full support to users. We can't see. That's why I don't feel obligated to pay taxes.

cryptopulsepodcast

newbie

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Hey Folks,

I know this might not be everyone's favorite topic but we've done a podcast episode on knowing your Tax Liability!

You can listen here:

iTunes https://itunes.apple.com/us/podcast/id1333545783

Website https://www.cryptopulse.co.uk/episode-18/

Whilst it's most applicable for UK listeners, it contains some valuable info. Hopefully, it clears up and questions people have on this topic!

If anyone else has country-specific tax information perhaps you can share it in the comments?

Topic: Knowing your tax liability - page 2. (Read 344 times)