That would be an awesome idea to fix the broken to the core financial system. If you could make taxes to be paid in something one can not print of nothing it would be actualy important to keep track of where the money from taxes is spend on.
It will not happen just because of that. It would require keeping a track, and would allow to track the money on blockchain as well. The system so hopelessly corrupted that its beyond the repair. The people involved in keeping their wellfare from taxes would fight to the death to keep the system as it is. That kind of sittuation for 100% would result in war. Either that war would be just or unjust is irrelevant from the possition of the corrupted entity.
Ofcourse Im talking about the sittuation when all acceptable taxes would be required to be made in some finite resource. If there would be silmuntanious possibility of paying the taxes in cryptocoins and fiat, the price of the first would skyrocket but would not need to destroy the corrupted system as of yet.
Topic: Should governments allow people to pay their taxes in Bitcoin BTC? (Read 5534 times)
March 15, 2017, 03:04:35 PM
Governments can allow to for people pay their taxes with Bitcoin but i think this is posible but before it , Govermants has to except bitcoin as real money or legal money and after that Govermants will has institutes for bitcoin or for to use bitcoin in countries , for example i couldnt change my bitcoins to my country money for a long time becouse my govermant didnt allow it because of i didnt use bitcoin long time , so firstly goverments will allow people use it .
March 15, 2017, 02:54:13 PM
You can do this already in a couple of Swiss cantons can't you? It sounds like a dismal idea to me but if people want to do it then go for it. I can't imagine they'd be happy recruiting a third party to handle the conversion so it's not going to happen.
But why pay tax in something that should carry on rising. Far better to pay it with something becoming increasingly worthless.
But why pay tax in something that should carry on rising. Far better to pay it with something becoming increasingly worthless.
I haven't heard that it's possible in Switzerland but it's good if people have that option. Personaly I don't think many countries will follow that example because that would mean that Bitcoin is fuly adopted in financial system as a currency and payment method and equal to fiat money. That also requires additional regulations and many governments are not ready for this.
March 15, 2017, 02:14:31 PM
You can do this already in a couple of Swiss cantons can't you? It sounds like a dismal idea to me but if people want to do it then go for it. I can't imagine they'd be happy recruiting a third party to handle the conversion so it's not going to happen.
But why pay tax in something that should carry on rising. Far better to pay it with something becoming increasingly worthless.
But why pay tax in something that should carry on rising. Far better to pay it with something becoming increasingly worthless.
I haven't heard that it's possible in Switzerland but it's good if people have that option. Personaly I don't think many countries will follow that example because that would mean that Bitcoin is fuly adopted in financial system as a currency and payment method and equal to fiat money. That also requires additional regulations and many governments are not ready for this.
March 15, 2017, 11:18:27 AM
Why not ? As they ask us to report the profits we make with buying and selling cryptos and so pay taxs on this, they should accept the people to pay with bitcoin. But one problem is, accepting the taxs to be paid with bitcoin, or others, would mean they accept that bitcoin is a currency
Yes, accepting bitcoins for payments means strongly that government not only allows users to use it, rather encourage them to do so. And if bitcoins become authorized in a country then actually things would be much much better than just bills. I guess 99% of the shops would adopt bitcoins as payment option since the user avoids the unwanted fees and taxes. 
March 15, 2017, 09:28:55 AM
If it was an option in your country, would you pay your taxes with Bitcoin?
Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?
I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC
I would pay my taxes with bitcoins but I am afraid the kind of gvernment we have right now in our country they would then make a scrutiny team for asking how we earned those bitcoins and try to take unnecessary taxes out of me. I would hence rather pay with my fiat itself and if needed convert my bitcoins to fiat just in case. Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?
I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC
March 15, 2017, 05:04:44 AM
I think it is important that the government does not manage BTC transactions, but if they accept it
I will complete what probably you wanted to say. If they control the transaction, that's impossible first of all as it is decentralized and in case somehow they take the control over bitcoins then it makes bitcoins as centralized, which then makes bitcoins as another ordinary asset or currency. March 15, 2017, 02:05:36 AM
IMO, Bitcoin and governments should not mix.
Bitcoin should be a anonymous decentralised currency but that has failed due to government involvement.
Bitcoin should be a anonymous decentralised currency but that has failed due to government involvement.
We shouldn`t mix them, that is ok by me, only thing that bothers me is freedom of choice, let the people pay with what ever they have valuable. Government and bank sectors are closely linked, they protect established system cause they have huge profit each day from that. Look at their paychecks, headquarters, and life style of the bank owners and shareholders and we see why they don`t want anything to disturb them. Bitcoin can be dangerous for them, and they don`t wish to give us to use bitcoin cause of all that.
March 15, 2017, 01:59:26 AM
I think it is important that the government does not manage BTC transactions, but if they accept it
I will complete what probably you wanted to say. If they control the transaction, that's impossible first of all as it is decentralized and in case somehow they take the control over bitcoins then it makes bitcoins as centralized, which then makes bitcoins as another ordinary asset or currency. March 15, 2017, 01:59:15 AM
I dont think so that people would pay their taxes on bitcoin since most of users of it do really save up bitcoin and they dont like to use it at all because we do know the value of it does really increase overtime and i dont think that government would allow this thing because for sure they will collect fixed rates which they could able to get on local fiat.
I kind of agree with the people's part but why wouldn't government except even though there is a really less chance of price going down so it would basically be loss for the people as government can easily say that they charged you the price at the time of the transaction so increase isn't there fault March 15, 2017, 01:56:48 AM
No. Government should not allow ppl pay tax in bitcoin.
For government, it will add risk to country as tax is one of the main revenue of country.
If just a little of ppl pay via btc no issue, but if a lot...
One hacking can affect stock too...
For people, pay tax via bitcoin will disclose your information.
No good for u if country know your asset.
For government, it will add risk to country as tax is one of the main revenue of country.
If just a little of ppl pay via btc no issue, but if a lot...
One hacking can affect stock too...
For people, pay tax via bitcoin will disclose your information.
No good for u if country know your asset.
March 15, 2017, 01:46:33 AM
I think I will not make any taxes on it, we are ordinary people, we use a small bitcoin, so we do not have to pay any taxes. Although my country accepts bitcoin, and gives it a tax rate, we also do not agree, new businesses are those who are obliged to pay taxes, because they do business, they profit from It, we only use it as a means of reserve money.
March 15, 2017, 01:30:53 AM
IMO, Bitcoin and governments should not mix.
Bitcoin should be a anonymous decentralised currency but that has failed due to government involvement.
Bitcoin should be a anonymous decentralised currency but that has failed due to government involvement.
March 15, 2017, 01:16:12 AM
They should, but they won't. Countries accept tax payments only in their own currency, unless there's something that I'm missing.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
The idea of government accepting Bitcoin as form of currency is great but as you said it is quite impossible since governmen accept their own currency as a default. But if ever government acknowledge Bitcoin as an alternative, I do not think that there will be something that will stop them from accepting Bitcoin as form of payment for the tax, they just need to convert them to fiat currency.
March 15, 2017, 01:11:59 AM
I would pay the taxes, but as long as it's within acceptable range and only charge taxes likes what they usually do with fiat such as charging taxes when we got salary, spend on shop or buy expensive goods.
But, i'm sure government would find a way to keep taxing bitcoiner (in case bitcoin is legal in that country and accepted by many shops) by ask the shops/services to include tax in final/total payment when user pay in bitcoin
But, i'm sure government would find a way to keep taxing bitcoiner (in case bitcoin is legal in that country and accepted by many shops) by ask the shops/services to include tax in final/total payment when user pay in bitcoin
Governments are going to find ways to track people if it means some sort of money is involved for them, if theres no money that they're going to be able to pry from you, you're not even worth any sort of tracking on.
If it came to the point where the government couldn't regulate Bitcoin into oblivion in order to easily gain their money in their own controlled and centralized fiat currency, and the ONLY way they'd be able to make money off of taxes was with bitcoin, they'd adapt to survive.
It's simple, they will do what they need to in order to keep their KRUPT machine rolling. Use bitcoin or not, they're not going to be supporting the cause in the least.
March 14, 2017, 11:59:50 PM
If it was an option in your country, would you pay your taxes with Bitcoin?
Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?
I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC
Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?
I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC
We had our own belief and understanding in terms of this matter and I respect others belief here.
For me in my side I cannot volunteer myself my to give any taxes in the government. If they really want to adopt bitcoin in each country they should not control it, because we knew what bitcoin really is isn't, according to its features of decentralization, on this matter we shouldn't forget this thing.
March 14, 2017, 04:50:02 PM
They should, but they won't. Countries accept tax payments only in their own currency, unless there's something that I'm missing.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
The idea of government accepting Bitcoin as form of currency is great but as you said it is quite impossible since governmen accept their own currency as a default. But if ever government acknowledge Bitcoin as an alternative, I do not think that there will be something that will stop them from accepting Bitcoin as form of payment for the tax, they just need to convert them to fiat currency.
March 14, 2017, 04:45:11 PM
They should, but they won't. Countries accept tax payments only in their own currency, unless there's something that I'm missing.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
If large EU countries, those which haven't accepted Euro yet, don't allow their citizens to pay taxes in Euro, they won't do an exception for Bitcoin. Think how many people would are using Euro every day and would like to use it to pay their taxes instead of their local currency and how many would like to do it in Bitcoin. There's simply not enough pressure from the people.
March 14, 2017, 04:43:53 PM
I do think that it won't matter if the government let people pay taxes in Bitcoin just as long as they do not regulate Bitcoin and implementing tax on every transaction. Government accepting Bitcoin as payment will make Bitcoin stronger in the eyes of the investor because it simply means they acknowledge it as a currency.
March 14, 2017, 04:38:05 PM
Accepting bitcoin and making it as a payment option especially in paying taxes is a kind of test that they can launched so they will see if bitcoin will good for their country or not. If governments makes bitcoin as an option when doing payments then that is a sign that bitcoin is accepted by the government and that kind of payment system for your taxes will be the answer if they will pursue fully accepting bitcoin or nah.
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