Please DON'T pay any taxes on your crypto! - page 9.

Indai24

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Quote from: Eildosa on January 31, 2019, 05:36:08 PM

I agree with many people who wrote above that it is not worth the risk. If it is necessary to pay taxes for it, you are obliged to do it to avoid problems. But I understand you. I would also not want to pay taxes for crypto, because I earned it myself, without the help of the state and I want to get the whole amount, without tax. But even if you do not want to, it is better to pay tax and sleep peacefully.

Exactly, why would we pay taxes for crypto in the very first place? government don't even accept crypto here in my country and taxes are already on top of the merchandise we bought, so for me it's no need.

Eildosa

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I agree with many people who wrote above that it is not worth the risk. If it is necessary to pay taxes for it, you are obliged to do it to avoid problems. But I understand you. I would also not want to pay taxes for crypto, because I earned it myself, without the help of the state and I want to get the whole amount, without tax. But even if you do not want to, it is better to pay tax and sleep peacefully.

benjamin07

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Quote from: BitBustah on January 26, 2019, 12:34:32 PM

If you don't like the tax laws in your country you can vote with your wallet and move to a different country. I guess if every country eventually had similar laws you couldn't do much except outright refuse to pay. I would have no problem paying taxes if the funds weren't used for wars and other evil purposes.

That is the best answer. Gerard De Pardieu the french actor chose to become a Russian citizen just for that reason for example.

If you keep crypto in crypto then no tax applies.

If you transfer from crypto to fiat then capital gains tax rules applies unless you prove it is a Hobby: ask an accountant.

Yes the brave create liberty but also liberty means anarchy and hypocrites want to not pay their $2 tax and want billionaires to become poor overnight by paying all their money in taxes to fund their hobo life style. Paying tax is good it makes the society better.

pixie85

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Quote from: ?? on ??

Quote from: DigitalCyberius on January 30, 2019, 03:07:24 AM

So what I hear you saying is: "Please everyone, pleeeease lie, and on top of morally compromising yourself, also take on the risk of whatever punishment the government may decide to inflict on you for not paying your taxes, if they find out."

No thank you.
Have a good day,
The Cyberius team.

Yeah it's a dumb call for theft and immorality.

The government likes to call people who aren't paying taxes thieves because it considers your hard earned money its money.
The taxpayers like to call the government a thief because it takes away money that it did not help earn.

Who in this case is immoral? Is preventing a thief from stealing your money immoral, or maybe by stealing from a thief you also become one?

dablatair

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Hello,

Advicers are not the payer...

Each citizens have to respect their contries laws even if they are silly, unfair, too hard....

Even if theorically they could not access them on wallets, they could legiferate in order to have an obligation to declare and you have also many people that have coins on exchanges.

As soon as something don't respect it, he could have trouble with justice and I don't think that you will take care of their defense.

Furthermore for the moment it is quite difficult to don't pass by FIAT/bank to spend the benefits in common life.

So give your opinion, give some informations or advice with not but strongly ask to don't respect the laws is really not the good advice.

Ezenwanyi1

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Veil

But we all know that collection of taxes from Cryptocurrency holders is a task that is almost impossible, except of course it's to be collected Ted by exchanges.
The reason is that there are no known Cryptocurrency regulatory body and Cryptocurrency is decentralized .
So how will the tax collection be implemented and subsequently executed?

DigitalCyberius

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So what I hear you saying is: "Please everyone, pleeeease lie, and on top of morally compromising yourself, also take on the risk of whatever punishment the government may decide to inflict on you for not paying your taxes, if they find out."

No thank you.
Have a good day,
The Cyberius team.

jabrix

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Quote from: Bttzed03 on January 28, 2019, 02:39:44 AM

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

I observe that many countries have not been uniform in implementing cryptocurrency, where each country will look for loopholes to get income such as taxes so that it can be used for development in the country.
When in a country that applies crypto rules strictly, users must obey because that is a rule. If you don't want to follow the rules, it's better not to use crypto.

gabmen

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Quote from: Bttzed03 on January 28, 2019, 02:39:44 AM

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

There may come a time when we'll have no choice. You see the trend of exchanges requiring kyc now? It'll be less anonymous and there will be a way for the government to pinpoint you if needed be. Though it'll also be another layer of security. If taxes are going to be used in a progressive way anyways i don't mind paying.

eternalgloom

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In some countries there are legal ways around paying taxes on your crypto, I'm not even speaking about some legal grey area.
Here in Belgium for example, you don't have to pay taxes if you hold your crypto for more than 1 year.

It's the same for profits made on certain kinds of long-term investments, like investing in the stock market for more than 1 year.

I honestly don't mind paying taxes on cryptocurrency profits, as long as they're fair.

Bttzed03

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https://bitcoincleanup.com/

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

tactac

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Quote from: pooya87 on January 26, 2019, 10:51:57 PM

i don't live in Japan to know for sure but actually everything that i have read from mid 2017 until today is saying otherwise. meaning whenever you buy anything with bitcoin in Japan then there is no taxes since the government removed it in 2017 and only taxes you when you purchase or sell bitcoin not when you use it as a currency. and that has even created that discounts that the merchants offer when you pay with bitcoin.

You know Japanese tax system very well! And I apologize for my lack of explanation.
Tax abolished against Crypto in 2017 in Japan is consumption tax.Income tax is still taxed.

In Japan, we have to pay income tax in the following cases.
① in case of profit by trading
② in case of profit due to purchase goods by crypto currency
for example, if you purchase a $ 50 item with 1 BTC purchased by $ 40, it will be taxed for $ 10 margin.
③ in case of profit due to swap cryptocurrency to anothercrypto currency
④ mining
tax rate is 15%～55％！

allthingsluxury

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This is not good advice.

hxtop

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Goverments will force people to pay tax for belongings and it seems that governments are determined to add this list crypto currencies. You may prefer not to pay and take the risk of punisment at a later time but I wouldn't suggest to do that for everyone. Every individual should review his/her own situation and calculate the risks that may occur. What they will do next is their decision.

drumamat

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Everyone wants to make money and the state is no exception in this matter.As far as I know, at the moment it is actually impossible to tax cryptocurrency holders.And the whole thing is that many countries can not give a clear explanation and definition of cryptocurrency.

bitbunnny

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I think that ignorancy and lack of information are the main problems here, as always, and not cryptocurrency taxation.
As far as I'm aware tax is paid on transactions, which is quite all right if you ask me and not on holding Bitcoin or other cryptocurrencies itself. Besides to pay tax on coins in your wallet authorities would first need to have insight in your wallet and that is not the case. So don't spread fake news.

xWolfx

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Quote from: ?? on ??

Actually they don't have the right to collect crypto taxes like that, because they have no rights in crypto settings. As we all know that crypto is a decentralized currency which means it has no center, everyone is free to trade it and they have full rights

Governments have the right to collect taxes for every transaction done with companies located inside their territory my friend.

In fact, trying to deny that due to greed is only trying to deny the possibility of mass Bitcoin adoption in the future and because of that limit it's potential exponentially.

It's pretty simple, the more places that accept Bitcoin as payment along the years the more real it will look for the people.

Capt00

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Quote from: Juggy777 on January 27, 2019, 12:42:08 PM

Hey this is a very dumb advice and anyone following this will land in trouble for sure, and the op won’t come to bail you out. As you have mentioned the two Asian countries let me inform you, 90% of the transactions happen via exchanges, which send money in the bank of the person. If your advice is to be followed how will they explain when that money came from?. I prefer a good life, my reputation intact and no jail time so not following your advice if needed I’ll pay tax and live happily.

Yeah, I am your side, paying tax is a good practice of helping your country, imagine, by giving you a small amount you can contribute progress that possibly happens. Look at the country of U.S.A they were very strict on implementing tax and they are now a fully developed country. So, that is a small amount for us to pay tax and we could live happily and no worries.

Juggy777

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Quote from: Lionel on January 26, 2019, 04:02:56 AM

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 Wink

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? Wink

).

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 Wink

Hey this is a very dumb advice and anyone following this will land in trouble for sure, and the op won’t come to bail you out. As you have mentioned the two Asian countries let me inform you, 90% of the transactions happen via exchanges, which send money in the bank of the person. If your advice is to be followed how will they explain when that money came from?. I prefer a good life, my reputation intact and no jail time so not following your advice if needed I’ll pay tax and live happily.

Micerker

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This is not a wise choice because you try not to pay taxes, the government will try to enact prohibitions against it. Pay rent even if it's a small amount, but this makes it easy to survive and find money.

Topic: Please DON'T pay any taxes on your crypto! - page 9. (Read 21961 times)