Topic: Signature Campaigns taxes - page 8. (Read 26474 times)

Actually, it differs and everything depends on the particular country you live in.

So you know you should be paying taxes but you don't want to because 30% isn't 100%? I'm sure we'd all like to keep 100% of our money but you do realize there may be a day when your greed comes back to bite you and that 30% doesn't seem to much when you have to pay the 30% you owed in addition to fines and interest? I would google what the fines and punishments are in your country for willfully evading taxes.


So you don't want bitcoin to be 'legalized' just because you like getting away with tax evasion right now? I seem to be confused. Has your country actually deemed bitcoin illegal or are you only going to consider it legal once your king or Supreme leaders publicly announces that it is legal and you should be paying taxes on it? I think a lot of people are assuming because you're not automatically being taxed on bitcoin like you do with a regular wage that it's not applicable yet. This is almost certainly not the case.

there is to tax the campaign, only slightly, depending on how much we get it, and it also happens if we move the coin to another wallet, only if our money is a little useless, which we send will be little also due tax deducted.

in my country, Indonesia, Bitcoin should not be used as a means of payment, two years ago there were still many places like hotels, cafes, bars, restaurants, online shopping places, service providers and others who received payments using bitcoin, but last year the government firmly forbids it, and closes the efforts of those still using bitcoin.
so, inevitably I have to exchange my bitcoin with fiat, and I have to withdraw it to my bank account. in such a case, yes ... I pay the tax according to the terms and report it. in my country taxes are not expensive, I am subject to a progressive income tax of 1%. and this is not just for bitcoins that have become the country's currency. but for all the coins I have exchanged, and withdraw into a bank account.

I think if the government discover that through bounty campaign there are people making money through it, still they will not bother the bounty hunters to ask a tax from it. Look some projects are scam, others may good but there are bounty managers who don't pay the participants, and when the tokens earn from a campaign listed in exchange the price dump, so why the government will bother to ask tax from us in such situation.

There is always a story behind it. I think our country is not yet ready for cryptocurrency, but as expected, we may pay our taxes if it is legalized in our own country. We should not let this happen, it will be a slight problem, for we have that kind of deductions in our earnings. We know why and what will be the reasons if it is implemented.

Hi! I am from philippines. As far as i know, our government are not honoring crypto currency here. But of course i want to hear out your point. And as a law abiding citizen, i may pay taxes in the near future if really i need to.

This would be also be a problem for us. We know how much taxes we are paying. We cannot just let our earning be deducted by taxes. You know how much taxes affecting our earnings, instead we are going to earn 100% from signature campaigns, we are going to get only 70%, 30% for our taxes. We know how much important the 30% earnings for us.

So you're losing money by participating in signature campaigns? If they weren't profitable then people wouldn't do them. What I think you probably mean is you're not making a substantial amount from them which I guess is true for most users here, but not for others. Some people seemingly have multiple accounts to claim bounties and many seem to be doing it as their full time job from what I've read here and for those people taxes would almost certainly be due. Whether they want to try evade them is another issue.


What country? Are you sure this isn't just your misunderstanding of the law? I think in most countries people aren't exempt from paying income taxes unless they live in a tax haven that doesn't have any income taxes at all (which are rare). If this is just another case of "my government hasn't specifically said you need to pay taxes on bitcoin yet" then that doesn't mean there are no taxes due.


What country is that? Have that actually explicitly said any money you earn in crypto isn't taxable?

It seems to sound like here in our country as of now we are still enjoyed using bitcoin so far because our government did not implement law regarding this crypto. However, our government recognized bitcoin here as a one of currency payment method, and also they warn us just to be careful with a possible scam.
So, in short, we are lucky here, our profit in the signature campaign was fully 100% we've got no fee implemented.

But there is a situation where in you are not obliged to pay tax for it if the law does not required, just like here in our country where in we are still free to hold 100% of our earnings because it is not yet against the law and we won't have any problem later.

I'm not  against taxation, if you really earning because ot  bitcoin you can declare your income to the government. If it's just minimal or not worthy for  taxing then you that's  your prerogative, because bounty campaign is not at all profitable.

A sole bounty campaign isn't permanent but there's new ones that are continually posted here and if you're a full time bounty hunter or move from one to the other month after month then that money will soon add up. Also, most countries have a minimum tax threshold before you have to pay income taxes so if you earn under it then you won't pay anything, but add this to your other sources of income and you may be. This is something you should look into. Just because you might not earn minimum wage also doesn't exclude you from taxes if you're self-employed or a freelancer.

hello everyone, i also want bitcoin but in india ban cryptocurrency .

Exactly, people might feel comfortable with the Bounties but there is no guarantee whether you are going to make huge money with the Bounties. Sometimes they won't pay to the bounty people after raising enough money through crowdsale.

I will tell them that it's just a freelance work. Bounties are not permanent. It's a project base. I bet you don't even make a minimum wage with those bounties so it cannot be considered as full time job.

So if I understood you correctly you're saying you don't pay income taxes but you pay sales/vat tax when you buy something with the coins you have converted to cash? I'm sure that will stand up in court   . It seems this thread has diverted from people actually discussing what their countries income tax laws actually are to how they can justify tax evasion  .

Op, you should create that thread you were talking about with links and sources to all the different countries tax laws you can find regarding crypto currency earnings. I think a lot of people will be very shocked. I think it's only going to be a matter of time before the Internal Revenue Services of many countries start looking into tax evasion done by cryptos (and America has seemingly already got the ball rolling with going after Coinbase users etc). They're certainly not going to let it happen for ever and when they start prosecuting people for it they'll make a big song and dance publicly about it to scare everyone else so we will certainly hear about it.


. What country are you in that has deemed bitcoin unlawful? Or are you saying it's not recognized as legitimate currency yet? Either way, that likely won't excuse you from income taxes. Also, how do you think remittance businesses are run? That's their fee they take so they can be a profitable business and it's not you paying your personal taxes. Do you really think that the service you use doesn't pay their taxes either. If you have a remittance center then bitcoin must be legal in some capacity and If they're above board you will likely find they will be paying their taxes on profits and you as an earner will also be liable.

Yes, you have a point mate, since bitcoin and other altcoins here our country are not taxable due to unlawful of cryptocurrencies we much enjoy and freely used our bitcoin. I've earned bitcoin through signature campaign only because I don't have money to invest or do in trading, so far we could not pay tax but when we used our bitcoin and convert to fiat we pay for transaction fee from remittance center just to claim our money I think that's the only thing that we can pay a tax to our country.

I would say, i am paying tax not to the earning buy spending of fiats converted from bitcoin earned from signature campaign. Do you get me? Unless and until i keep hold of the crypto currencies back in my wallets, i do pay tax when the crypto currencies are exchanged into fiats and they are spent on buying goods and etc. Every service and goods do tax. This has become ever more worst after a new leader has taken over his role. Really pathetic to have him as a leader who is not worth to be even human.

But the problem is, even if you were making 200 bucks worth of bitcoin a month back then, let's say, in 2012 where the earlier signature campaigns took place (that I know, it may have been even earlier) then we are looking at around 100-300 bucks monthly. This is not much, but should be reported, but then again, no one does that. If it was FIAT in which you are getting paid, you get it in your bank account and having 100-300 coming in your bank account would most likely go unnoticed, BUT you were getting paid in BTC, so this means that let's say you spent from 2012 to 2014 posting, making a sum of anywhere from 10 to 20 BTC... yeah, that's a lot of money now.

The question is: how do you explain authorities why you never reported that you got paid these coins when you cash out? and what details do they ask for when you cash out? screenshots of the threads in which you got paid at, including signed addresses to prove you own the coins? how the hell does this work specifically? still 0 answers.


Then he is delusional, we have already seen bank accounts getting frozen and so on, so I hope you have all the proof on your side to prove that the bitcoins you earned are legal. Please let us know whenever you cash out signature campaign earnings into euros, I want to know how it went with details. I believe they will ask and they will ask in detail, where it all came from, so again, get all of your stuff together before cashing out, then do so and report here back.