Topic: Should we pay taxes on Bitcoin? - page 2. (Read 2262 times)

Perhaps in the future, when the government takes control into its hands, then it will be right to pay taxes, but now this is absurd.

No matter how badly we treat our governments, we should not forget that the government does not need a decentralized crypto currency. It will reluctantly legalize it. If we do not pay taxes, then governments necessarily use this fact to limit the circulation or even the prohibition of crypto currency. Who will be worse off from this?

It is the duty of every citizen in every country to pay taxes in accordance with their constituion or any other laws that require people to pay their taxes. Several countries like United States and Japan requires its bitcoin holders to pay taxes when they use the coin in their transaction. But here in my country, the bitcoin transactions are still tax-free but the government might already planning to create regulation for the the cryptocurrencies.

Bitcoin never set himself any political goals, including the goal of freeing us from corrupt officials. It's absolutely impossible. Governments will always exist, and there will always be corrupt officials in it.

Taxes on profits from operations with bitcoin and other crypto currency will have to be paid, since if the state structures see that people do not pay taxes on activities in the crypto currency, they can generally prohibit it, citing exactly that it is hard to control taxation. On the other hand, if the state does not react in this way, failure to pay taxes will lead to underfunding of social programs, spending on budget professions, including the army and the police, chaos will begin. Payment of taxes will then seem to you not the greatest evil.

We should pay taxes on bitcoins.  Because it  will help us to increase our income without any problem and without any fear of government agencies to take any action about our  income and government will also declare it legal and the value of bitcoin will increase. People will take more interest in using bitcoin

A good government and good tax paying citizens go hand in hand, even though the model isn't perfect.
You pay taxes because you are gifted enough, lucky enough to thrive with money in a society where many others suffer financially. Even if not for them, you need a better surroundings to live, that is the very basic need of a human being and you alone can not work towards making your surroundings better, a collective effort of government and citizens make it better. So pay up the taxes, with a hope for betterment of the world. Be it bitcoin or fiat, taxes must be paid, thats how the world works and it's not wrong, its only wrong when tax money is spent in corruption (solution to which is NOT "not paying taxes") but improving the system. 

We should pay taxes if we had some handsome income from Bitcoins. It comes under the government regulations so they decide this comes under in which tax category. We must be ready to pay their taxes If we need to go long run. Taxes provide you legal track to go on without tension according to me we have to pay taxes and support our government.

Bitcoin is decentralized and you don't have to pay the taxes untill and unless you convert your Bitcoin to the fiat currency of nation under which you fall. Fiat currency comes under the government regulations and so this comes under the tax category. One must be ready to pay the taxes if the user will not pay tax and suddenly government will find lot of amounts in your bank account that what will you say to them???

Taxes are already being imposed on bitcoins once exchanged and reached the bank. One good thing about paying taxes (declaring the money that was deposited in the bank), it can avoid questions for possible money laundering.

The previous response was very detailed and has amazing arguments. I would pay taxes if I had some massive income of Bitcoin, or in case I had many Bitcoins. That would make me rich, and then I would be able to help others. It is a duty, and too bad that many aren't fulfilling it.

You are mistaken, and you should rather advise with tax consultant in your country.

Now, you compare Bitcoin to some paper money and in that context you say how there is no tax on Bitcoin. But that is mistaken concept that you have.

The tax is not on money. Tax is on income, or transactions, importations or similar. Governments are not taxing money. They are taxing income. That is not the same.

You can receive to your account 10 million dollars. It is not money that is important, but the income.

Maybe 10 millions was a loan? There is normally no tax on receiving a loan.

Maybe 10 millions was insurance payment? Maybe in your country insurance payments are not taxed.

Maybe 10 millions was sales of services? Then it may be income, Now the tax come into question.

And income comes always after expenses. What if you had 9 millions expenses? Then 1 million is the income to be taxed.

In majority of countries, the law is such that gives to the citizen the obligation to report taxes, regardless if the money came to bank account or not. And it is not all just about money, many countries are taxing any kind of capital gains. For example, in many countries, if you would receive gold, or gifts, or any kind of stuff which is not money as gift, you could be taxed. And if government does not know about it, they made a law to say it is your obligation to report it.

So the statement that Bitcoin is not taxable in many countries is simply not true. Because laws don't say "We tax Bitcoin or we tax US  dollar", those tax laws don't speak about any particular currency. They speak about income, gain, capital, wealth,  that is what governments of the world are taxing.

They don't want to be limited to one currency, they want to take anything from you as much as they can take it.

I fully support your view point.

And it depends from country to country.

Taxes are legalized coerced extortion, it is crime in itself to take something from you what does not belong to the taker. But we are living in such brainwashed society, that it is fine and acceptable.

Majority of the laws of countries on this Earth do not take taxes to make life better of a citizen. Example is Germany where taxes are taken without nothing in return as obligation. So there is no obligation of a country to make anything better for citizen. Just take basic tax law of any country and review it and see it yourself. If it would be true, it must be something written about it.

Politicians are managers and they don't produce, work, provide service, they just talk, talk, and do nothing. And spend all the taxes in corrupt government.

Although it's a fact from the negative side, but I do not think that far, first bitcoin is still free in use in many countries without any rules and taxes. so you do not have to pay taxes to the government. I don't know. whether in the future the rules will change or not

The government isn't about us, they are about them so they will make it a requirement sooner to force us to pay our taxes from our bitcoin profits. They need money more than the poor people around who have nothing to eat. What a shame.

True. I just cannot imagine a world without government managing people. The government purpose is suppose to be good though there are places that it is not working because people elected the wrong officials.

I think a corrupt government is unavoidable. In some countries, the people are also the ones who elected some of the countries' leaders and who's to be blame by that?
Government can be as functional as everyone but first thing is first, it needs people too to move mountains. It is just a mater of support system. It will be for our benefits too in my opinion. Or even if it is just for our security, we will be needing that practically.
We should not just think about the negative side of it. Though I agree that sometimes taxes are funding those corrupt people's trips. I would still see the goodness it could bring to us.

..if you belong to the government that legalized bitcoin and imposes tax on your bitcoin earnings,,then pay your taxes according to the rules and regulations of it..but if it is not required in your government to tax your earnings in bitcoun,,so be it..just donate some of your profit to those who need helo..like orphanage or home of the agent..don't donate money in some of the foundation that government own because we all know that they will just corrupt some of the donations that they solicited.

If you don't want to spent few years of your priceless life, then pay it and live stress-free. This gonna be my one and only suggestion. Imagine how many good opportunities you will miss if you there 1 year in prison, maybe it's good to avoid being weak hands now, but cmon...

The advantage when the government legalize bitcoin is bitcoin value still significantly increase.

Applying tax will generate revenue for the government, legalize bitcoin will make more demand for bitcoin so it's great advantage for me !

I fully support your point of view. The government made the tax service. It's wrong. Taxes is a payment to the government for the fact that they make our lives better. I don't see it therefore I don't pay taxes and I am not tormented by conscience. I find it funny to see people become slaves and ready to punish themselves for mistakes in their tax calculations. LOL.