Huh.?you are generating money inside crypto and you wanna deny paying taxes because the government cannot prove that you are gaining?do you know what are you saying?
Being a responsible people we must pay taxes everytime we gather profit,not unless you are a loser then i ca understandably agree with you.but if not then you are definitely a cheater
Topic: Please DON'T pay any taxes on your crypto! - page 7. (Read 21961 times)
Absolutely pay your taxes on crypto, this brings legitimacy to the space. If you filed your gains in 2017 you can file your losses for 2018. Here in the US we are required by law to report all crypto transaction whether it was a gain or a loss.
Impossible for me, unless all people, businesses, and any other establishments uses crypto for payments( we say BTC or Ether).
By the time I will withdraw my crypto currencies into fiat it will already be taxed (on the third party app that I am using). Also our government won't tax you directly if you are only withdrawing certain amounts, not more than millions.
By the time I will withdraw my crypto currencies into fiat it will already be taxed (on the third party app that I am using). Also our government won't tax you directly if you are only withdrawing certain amounts, not more than millions.
That'd raise the AMLA warning and we'll get taxed the moment we explain the gains are from crypto.
Smart way is to do so in smaller amounts, but larger holdings will have to bear the price movements. Sucks if they tank though.
More and more countries, like Chile or India, are trying to tax their citizen for the crypto they hold.
Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.
It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that
Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's encrypted with password ( uhm.... have you set the password protection on your wallet... right? ).
Of course you are not going to give them the wallet password.
Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.
It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that
Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's encrypted with password ( uhm.... have you set the password protection on your wallet... right?
).Of course you are not going to give them the wallet password.
Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
Impossible for me, unless all people, businesses, and any other establishments uses crypto for payments( we say BTC or Ether).
By the time I will withdraw my crypto currencies into fiat it will already be taxed (on the third party app that I am using). Also our government won't tax you directly if you are only withdrawing certain amounts, not more than millions.
There is even no problem with paying tax but why pay tax what the government are fighting against or what they don’t don want to legalize? This is what we need to answer. So I don’t think it’s possble to tax anyone at this stage because the tools to do this has not been installed yet so no one can tax you for holding any coin of our choice .
Well said, until they give legal support they doesn't have the right to levy tax upon our crypto holdings. Also most of the governments around the world just corrupt the tax money and they never tend to do to the needful citizens of the country.
There is even no problem with paying tax but why pay tax what the government are fighting against or what they don’t don want to legalize? This is what we need to answer. So I don’t think it’s possble to tax anyone at this stage because the tools to do this has not been installed yet so no one can tax you for holding any coin of our choice .
More and more countries, like Chile or India, are trying to tax their citizen for the crypto they hold.
Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.
It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that
Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's encrypted with password ( uhm.... have you set the password protection on your wallet... right? ).
Of course you are not going to give them the wallet password.
Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.
It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that
Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's encrypted with password ( uhm.... have you set the password protection on your wallet... right?
).Of course you are not going to give them the wallet password.
Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
I dont figure government can assume control and control bitcoin, if so happens the above all else thing is they will impost tax on them. At that point the client of bitcoin will decreased which may influence the potential and estimation of bitcoin. Still now we dont have a news thusly.
yes, I am also confused by all the taxes that need to be paid if it really does exist. of course there are several assets that I have in different coins. however, for now, I still have not much assets, so I might not pay anything, besides government regulations there is also nothing like that.
We still have to pay taxes on our profits in cryptocurrency. The government can determine the approximate amount of taxes payable. At the same time, it will be seen that citizens deliberately evade paying such a tax. I read that such a problem existed in the United States. With regard to the individual citizen, this is difficult to do, but not very much on a state scale. If tax evasion from cryptocurrency is recorded, the government can take measures to limit circulation and even ban cryptocurrency. We do not need this. It is better to pay taxes in order for the cryptocurrency to develop and be faster legalized by the state.
Well, in the country where I am living now, the government are not asking for taxes. But if we think about paying in taxes to those people who are using crypto currencies, that is so unthinkable because they don't even know who are people that are using crypto unless the individual will tell it.
dont use crypto as an excuse to avoid tax payment. Taxes are meant to help government bring development to all. Even though the government have messed up in the past, we still have to keep supporting them and one of the ways to do that is to pay our tax. so pay up whether its in crypto or fiat, just do the rigth thing as a law abiding citizen
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Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.
You really don't need it, unless you are totally ignorant.
I dont want to pay any taxes for my cryptocurrency, though if it is a law on my country i will do so,
Any country has their rights to have their citizen some taxes, it is for the good of the country and their economy.
Remember that the Gvoernment get the tax to its people for the development of their country.
Any country that is serious with taxing the citizen on their crypto do not need the permission of the citizens. Cryptocurrencies have not gone to the meanstream to extent of using it directly to pay for goods and services in most countries, so the citizens can easily be taxed during the process of exchanging it to fiat in our traditional banks.
Thank god our country isn't like this, they just tax us when we convert our bitcoin to our local currency which is not that much i guess, we only need to comply for KYC, i guess that's better than get taxed for owning it, i hope more government will become more open for crypto.
Of course you are not going to give them the wallet password.
Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
You really do not need to provide your password to give the declaration, once you declare that you have how much coins in your wallet then can verify it in the blockchain without giving out any sensitive data, when it comes to government you never lie unless you want trouble, how are you planning to cash out the coins other than through banks accounts, either you have to find a user who provides cash for your coins or only through bank account and how are you planning to over come that situation. If a government ask me to sign a declaration form about the amount of coins i hold i have no other choice than to provide the details rather than facing punishment. Oh.. they tell you that you withdrawn the coins from an exchange, so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange, not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?
P.S. for the geeks: use Veracrypt
Here it is difficult to solve unambiguously, but I think that if I appeared in a similar situation, I didn't pay taxes to the state for what they have no influence and that doesn't belong to them. The meaning of bitcoin is just the same to limit us from government interference, which means it can not be taxed.
Yeah you can say that. but in some countries, the government has implemented rules for crypto, some local exchanges are required to pay taxes, and the tax is taken from our withdrawal fees to cash, I think we should be familiar with that at this time
If a country has implemented regulations for every citizen to pay taxes, we must comply with these regulations. Because if you don't, then that means we violate state regulations. And as good citizens, we must obey every existing law. paying taxes only takes up a small part of our assets.
Here it is difficult to solve unambiguously, but I think that if I appeared in a similar situation, I didn't pay taxes to the state for what they have no influence and that doesn't belong to them. The meaning of bitcoin is just the same to limit us from government interference, which means it can not be taxed.
Yeah you can say that. but in some countries, the government has implemented rules for crypto, some local exchanges are required to pay taxes, and the tax is taken from our withdrawal fees to cash, I think we should be familiar with that at this time
I understand that these countries want to start imposing tax on Cryptocurrency holdings.
I also know that Cryptocurrency has a decentralized structure and so no one has control over it.
My question is: how do this countries plan implemting the tax procedure?
I 'm literally confused about the method they intend too use.
Can anyone enlighten me please?
Thanks
I also know that Cryptocurrency has a decentralized structure and so no one has control over it.
My question is: how do this countries plan implemting the tax procedure?
I 'm literally confused about the method they intend too use.
Can anyone enlighten me please?
Thanks
Payment of tax is a good thing because it is a source of revenue for the country's development. Indirectly, it is apparent that every cryptocurrrency holder pays tax. The government charge the exchanges tax and this is distributed among every trader on that exchange. This is why most of the exchanges are requiring for KYC of late in order to know and verify its customers in accordance with the stated laws of the country.
Tax is one of the state revenues that all citizens must pay without exception. While the wishes of crypto users are tax free, so transactions are peer to peer.This is a dilemma that must meet, because if there is no agreement cryptocurrency is considered illegal. Though each country has different rules between countries. The government clearly has the authority to find out who the crypto owner is, through a crypto money exchange company
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