tax - page 10. | Bitcointalksearch.org

Vikingr

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Quote from: guoyu78 on October 05, 2017, 01:53:39 AM

Quote from: okissabam on September 29, 2017, 11:44:14 AM

Quote from: Emworks on September 29, 2017, 11:29:18 AM

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

Bitcoin is still not accepted by so many Governments all over the world. Till the time this this does not happen, we need not to worry about paying of any kind of tax or anything like that. You can happily invest your money in Bitcoin and can start trading without paying a single penny to anyone. But things will change in the near future when the Governments will announce it to be legal.

South Park

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Quote from: Sithara007 on October 02, 2017, 10:13:25 AM

Quote from: Nivir on October 02, 2017, 08:58:28 AM

Quote from: FluffyWallaby on October 02, 2017, 08:28:56 AM

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

This is exactly why countries such as China are trying to ban exchanging crypto to fiat. For example, if you are living in a high tax country such as Germany and Sweden, then you can catch a flight to St Kitts (where there is no income tax) and get your coins converted to fiat. You can come back to Germany and show the income as earned from abroad.

This is possible but you are going to catch a lot of fire by doing that, and I do not think things are going to be so simple anymore, I think governments are going to try to tax cryptocurrencies directly so you cannot use that backdoor anymore and avoid taxes in such a way.

Koadharber

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Quote from: Wishcoin.IO on October 05, 2017, 03:56:26 PM

Bitcoin is subject to capital gains tax in the UK, similar to a secondary property and all manner of assets. I would have thought most countries wouldn't distinguish how you've earned your money, they would just like a slice of it. Those trying avoid tax at all costs should be careful as governments can act retrospectively if they believe they've been shorted.

Just a normal thing that government would really impose taxes for the sake of economic improvements on a certain country and they would normally act on those tax evaders but if we do speak on hiding our asset on bitcoin form i would say it would be an another story.

Wishcoin.IO

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Bitcoin is subject to capital gains tax in the UK, similar to a secondary property and all manner of assets. I would have thought most countries wouldn't distinguish how you've earned your money, they would just like a slice of it. Those trying avoid tax at all costs should be careful as governments can act retrospectively if they believe they've been shorted.

bitbunnny

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I live in one of European countries and Bitcoin itself as cryptocurrency, asset or similar is not taxed. And I don't think that is going to be. But exchanging Bitcoin to fiat currencies in some countries is, although not in my. Those transactions could also be subject of anti money laundering checks. So rules are still very different and will stay so unless there will be some EU directive on cryptocurrencies regulation.

surix

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I believe in Europe, for now at least, bitcoin is seen as an asset. That is to say, as long as I hold it, I don't need to pay the tax. And I'm hold it...

For sure it can be painful to pay the tax when I cash out, but I prefer to be compliant and sleep well.

Mobshady24

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Quote from: guoyu78 on October 05, 2017, 01:53:39 AM

Quote from: okissabam on September 29, 2017, 11:44:14 AM

Quote from: Emworks on September 29, 2017, 11:29:18 AM

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

are you in china dude? so sad that bitcoin is banned there and of course you cant do anything about that. it is so hard to see some countries which bans bitcoin because they think it is a scam, good thing here in our country, earning from bitcoin may not be taxed as long as you do not declare it as other income line item.

guoyu78

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Quote from: okissabam on September 29, 2017, 11:44:14 AM

Quote from: Emworks on September 29, 2017, 11:29:18 AM

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

Thyaga

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Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

it costs about 0.0005 btc only, 0% as market maker, 0.3% as market taker.
pretty cheap and the service is amazingly good

jamids

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Quote from: BitcoinMuscle on October 03, 2017, 02:06:21 PM

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

Since you earn from it then you have a responsibility to report it to your government because it is part of your income. Though they may not be able to identify what kind of asset bitcoin is, since you got income from it then there is a need for you to include it in your taxable income and it would be up to them to make it as an exception. I have known some people who are working online and does not pay tax because they felt that they don't need to because the tax they pay are just going to corrupt government officials but I still think that even if the government does not know they are earning online, they have a responsibility to report it being a responsible citizen.

Milo_Kidd

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Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

In my country I don't know how much and do not know if theres. But for sure theres in transaction provider for example the wallet, the banks etc. for sure there is. As I've expereince I did not felt the tax in bitcoin so thats the thing that I like. Easy transaction and low tax if there is.

contrarian

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I live in Portugal but I'm not sure how much is the tax. I think there are two ways you can declare your income from bitcoins. One pays a tax of 28% to 35%. The other pays less but I don't know how much and you can only use it if you work for others and don't receive a lot of money every year.

LeGaulois

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Quote from: BitcoinMuscle on October 03, 2017, 02:06:21 PM

Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

You are responsible to keep track records about your activity with bitcoin. What and Where you buy/sell etc. And don't say to your Taxes offices you didn't know because you are supposed to know and it's not an excuse. Also, any income if supposed to reported into your taxes report, so no matter if it is with bitcoin or not, you are supposed to report any income.

South Park

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Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

All income needs to be declared and taxed even if the tax rate is zero, you cannot escape taxes and bitcoin is not an exception to that rule so if you have bitcoin and you want to get fiat for your bitcoin, be open to your government and pay your due taxes and forget about problems.

BitcoinMuscle

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Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

Webetcoins

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Quote from: randythered on October 02, 2017, 08:31:46 AM

I think earnings here are taxable but it is such a new area that I think you could probably get away with not declaring your earnings and given the nature of bitcoin the authorities would probably not find out.

I think not in Austria but in almost all the countries the earning of the people is the taxable and these taxes are the part of the bitcoin in the economy of the country to take it high. The transaction fees and the tax payment of the bitcoin is the money that is increasing the economy of the country so I think now the government should make bitcoin the legal currency.

Sithara007

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Quote from: Nivir on October 02, 2017, 08:58:28 AM

Quote from: FluffyWallaby on October 02, 2017, 08:28:56 AM

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

This is exactly why countries such as China are trying to ban exchanging crypto to fiat. For example, if you are living in a high tax country such as Germany and Sweden, then you can catch a flight to St Kitts (where there is no income tax) and get your coins converted to fiat. You can come back to Germany and show the income as earned from abroad.

syaripudin

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In my country the government does not impose taxes on other activities when it is done if I exchanged the bitcoin on the fiat I store on my wallet account there is a cut like a tax cut of a few percent just as it is for the sake of administration. also when I transfer the fiat that I have to the account I have from my wallet account, I will certainly have a few percent discount for the benefit of administration. whether or not such a thing is a tax or not but I know tax is a piece taken from any activity that is beneficial to the perpetrator of that activity. it is possible that the legislation will surely be enforced by the government in my country if bitcoin already has legality of course with the existence of this tax is already a regulation that must be obeyed by users of crypto

Buttercup123

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Quote from: wawan99 on September 12, 2017, 07:26:17 PM

in your country income from bitcoin taxed? state the country

In my Country the Philippines, some officials sees online profit sources should be taxed and now some sites are being taxed by my country, but i think they don't know about or they know a little about the bitcoin so no implemented taxing authority is formed against btc. All filipinos can freely use bitcoin whenever and wherever they want.

Nivir

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Quote from: FluffyWallaby on October 02, 2017, 08:28:56 AM

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

Topic: tax - page 10. (Read 2706 times)