I'm actually hosting a Ask Me Anything right now and would love to get more questions. A lot of the same questions that were asked are covered here as well.
https://cryptoama.amafeed.com/i-provide-strategic-tax-and-accounting-solutions-for-cryptocurrency-traders-and-479288
Topic: Not Declaring Bitcoin Income - page 7. (Read 7575 times)
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I have already heard some rumors that my country would have the plan on regulating bitcoin and this would really be a bad thing for me since I'm a tax evader and I don't like to pay up taxes related on my bitcoin earnings knowing that government do impose 12% tax and that's too much. Imagine you do have 1 btc and they will get 0.12 on that one which is too much.However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
How they do tracked the transactions of every bitcoin earners?
They consider how many people are using bitcoin? What blockchain they used to collect taxed from all bitcoin earners?
I do not think government can make a law in digital currency no one can regulates bitcoin, government only support bitcoin and they cant earn money for the people who earn bitcoin even it is fully adopted by their government.
While your money is in BTCs or any other AltCoin there isn't problem, the government will do nothing about it, but once you start converting large amounts to fiat their alarm will sound. I think it's very unfair to pay expensive taxes, especially if the services in our countries are poor and the corruption levels are high. So what you can do is to withdraw your profit in small amounts, to stay below the government's radar.
It's not illegal, and you are protecting your patrimony. The negative point is that you won't cashout large sums of money fast.
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I have already heard some rumors that my country would have the plan on regulating bitcoin and this would really be a bad thing for me since I'm a tax evader and I don't like to pay up taxes related on my bitcoin earnings knowing that government do impose 12% tax and that's too much. Imagine you do have 1 btc and they will get 0.12 on that one which is too much.However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
How they do tracked the transactions of every bitcoin earners?
They consider how many people are using bitcoin? What blockchain they used to collect taxed from all bitcoin earners?
I do not think government can make a law in digital currency no one can regulates bitcoin, government only support bitcoin and they cant earn money for the people who earn bitcoin even it is fully adopted by their government.
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
they can never track you bitcoin transaction unless you gave it.
here in my country, Central bank requires a list of transaction where you earn your bitcoin before you can open a bank account. maybe that the way of goverment to track your income.
Well, with the current development at Brisbane, one would expect that people would soon be paying taxes like regular income.
another thing that would also propel this is the use of KYC by ICOs. this new trend is pitiably not cool.
another thing that would also propel this is the use of KYC by ICOs. this new trend is pitiably not cool.
Its hard for the government to put tax on a very volatile commodity it needs deeper studies. Cryptocurrency is very young to be taxed at this stage, it just caught governments attention when its prices spiked hard and small investments made millions.
Government can really track those bitcoin transactions using your service provider or wallet because it has your history. In here, we have this monopoly of the e-wallet which is i think the only wallet we can have. If they want to dig in on its customers, they can do it. I think we are both on the same country were government doesnt focused on the income tax on bitcoin for now. Im sure they will definitely do it if bitcoin continue to mainstream and get their attention.
No its not true, all earnings came from bitcoin is income. Bitcoin provides the easiest way on how to earn income without doing any effort to have it; which helps alot in the entire humanity.
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
Well maybe if the government is really want to track me if i will not declare my assets in bitcoin, then they can.
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I have already heard some rumors that my country would have the plan on regulating bitcoin and this would really be a bad thing for me since I'm a tax evader and I don't like to pay up taxes related on my bitcoin earnings knowing that government do impose 12% tax and that's too much. Imagine you do have 1 btc and they will get 0.12 on that one which is too much.However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
How they do tracked the transactions of every bitcoin earners?
They consider how many people are using bitcoin? What blockchain they used to collect taxed from all bitcoin earners?
I do not think government can make a law in digital currency no one can regulates bitcoin, government only support bitcoin and they cant earn money for the people who earn bitcoin even it is fully adopted by their government.
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I belong to the 3rd world country. Governments are corrupt they scam peoples money by paying big taxes. That's why people are wise now they use bitcoin as commodity and a store of value. the problem here is we need to address our concern that we should show them our minimum income, we need a decentralization not centralize. i hate governments that are scamming people to pay them 20-30% tax income.
What does "3rd world countries" exactly mean? I have no idea at all
Nope, my government here is really against bitcoin and bitcoin transaction. Fyi bitcoin is not very popular here, it's like only 0.5% of the total population in my country here know about bitcoin. 2 weeks ago the head of Stellar XLM come to indonesia and talk with our government though, it's a good news for bitcoin user here.
I think from every transaction we've been taxed, especially when the transaction of bitcoin withdrawal into currency, so we want to declare or not about bitcoin income, it is not so influentia
Lol no, that is not tax. 
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I have already heard some rumors that my country would have the plan on regulating bitcoin and this would really be a bad thing for me since I'm a tax evader and I don't like to pay up taxes related on my bitcoin earnings knowing that government do impose 12% tax and that's too much. Imagine you do have 1 btc and they will get 0.12 on that one which is too much.However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
How they do tracked the transactions of every bitcoin earners?
They consider how many people are using bitcoin? What blockchain they used to collect taxed from all bitcoin earners?
I do not think government can make a law in digital currency no one can regulates bitcoin, government only support bitcoin and they cant earn money for the people who earn bitcoin even it is fully adopted by their government.
I think from every transaction we've been taxed, especially when the transaction of bitcoin withdrawal into currency, so we want to declare or not about bitcoin income, it is not so influentia
You are not paying any tax when you convert your coins to fiat cash. The exchange may be paying a part of the fees as tax, but you are not paying tax at that point of time. The tax needs to be paid later, after finding out whether the profits from such a trade is classified as ordinary income or as capital gains. If it is possible to classify the income as long-term capital gains, then you will be able to escape with a lower tax rate.
I think from every transaction we've been taxed, especially when the transaction of bitcoin withdrawal into currency, so we want to declare or not about bitcoin income, it is not so influentia
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
I have already heard some rumors that my country would have the plan on regulating bitcoin and this would really be a bad thing for me since I'm a tax evader and I don't like to pay up taxes related on my bitcoin earnings knowing that government do impose 12% tax and that's too much. Imagine you do have 1 btc and they will get 0.12 on that one which is too much.However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
How they do tracked the transactions of every bitcoin earners?
They consider how many people are using bitcoin? What blockchain they used to collect taxed from all bitcoin earners?
I do not think government can make a law in digital currency no one can regulates bitcoin, government only support bitcoin and they cant earn money for the people who earn bitcoin even it is fully adopted by their government.
It is not true that bitcoin will not declare or consider as alternative source of income. To be honest bitcoin provide options on how to earn income in most convenient and easiet way.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
Bitcoin has made it easier for people to earn money in other countries and bring it to their own country. is not that a good thing as a cooperation between countries.
It is not true that bitcoin will not declare or consider as alternative source of income. To be honest bitcoin provide options on how to earn income in most convenient and easiet way.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
That's right bitcoin makes it easy for us to work and have income so the best option is beinvestment in bitcoin.
It is not true that bitcoin will not declare or consider as alternative source of income. To be honest bitcoin provide options on how to earn income in most convenient and easiet way.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
They make the life of everyone more easier than before so you must consider to invest with it. Bitcoin will make your life more suceesful in future.
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