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Topic: Retail stores posting "bitcoin accepted here" - page 2. (Read 812 times)

sr. member
Activity: 266
Merit: 256
Who cares about Tax authorities  Cheesy

Bitcoin is free money people. FREE. Meaning free from government control, corruption and war mongering.

Free from filthy bankers with no real agenda but more pockets for their empty souls.

Taxation is a sin, and our governments are able to do it because of an outdated system. This shouldn't even be a question.

Bitcoin is part of the revolution baby. Ain't no one going to tax my free spirit.

I'm gonna spend my Bitcoins freely at every shop I see that has the sticker.

calm down there mister libertarian.  I don't think it's unreasonable for governments to require that people or businesses disclose income from bitcoin for tax purposes.  Taxes are necessary for infrastructure and other public works.  You might not agree with everything the government spends taxes on, and neither do I, but a lot of things that make your daily life better exist because of them.  If bitcoin wants to become a real mainstream currency, governments will have to have a say in it.
sr. member
Activity: 652
Merit: 257
Who cares about Tax authorities  Cheesy

Bitcoin is free money people. FREE. Meaning free from government control, corruption and war mongering.

Free from filthy bankers with no real agenda but more pockets for their empty souls.

Taxation is a sin, and our governments are able to do it because of an outdated system. This shouldn't even be a question.

Bitcoin is part of the revolution baby. Ain't no one going to tax my free spirit.

I'm gonna spend my Bitcoins freely at every shop I see that has the sticker.
hero member
Activity: 1106
Merit: 638
Given that there are no defined regulations for bitcoin in my country, is it possible that stores posting the "bitcoin accepted here" sign are evading tax by letting their customers pay with BTC?

No. And it doesn't matter how many shops have this sign in their window, etc.

The tax authorities don't care how you receive payment, they just want to make sure that all of your income is reported and assessed the appropriate tax.

The best thing you can do when you see those signs is go in and buy something with Bitcoin! Or at least give some praise to the shopkeeper for making Bitcoin part of their business. Tell them that everyone here appreciates it!
hero member
Activity: 952
Merit: 500
Given that there are no defined regulations for bitcoin in my country, is it possible that stores posting the "bitcoin accepted here" sign are evading tax by letting their customers pay with BTC?
If there are just one or two shops offering that,then it would not become an issue.But if more shops starts offering such bitcoin payments,definitely it would become a matter of serious concern for the government authorities.Definitely,the government would start losing the revenue got from sales tax or VAT.So,they would have to check with authorities.But this would be an issue only till bitcoin gets legalized in a country.In india too,its going to get legalized soon within six months and we can expect more retail stores in india accepting bitcoin payments.
           But the other thing what we should concern about is that most people have started to treat bitcoin as a valuable asset and just store it and i think more people will not be ready to spend their bitcoins for buying some thing which could be bought with fiat cash itself.Just my opinion.
legendary
Activity: 1806
Merit: 1003
How is that any different than accepting cash? also stores that accept BTC probably do so thru a 3rd party, which can be reporting the transactions to tax authorities.
full member
Activity: 406
Merit: 110
Given that there are no defined regulations for bitcoin in my country, is it possible that stores posting the "bitcoin accepted here" sign are evading tax by letting their customers pay with BTC?
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