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Topic: tax - page 3. (Read 2706 times)

legendary
Activity: 1036
Merit: 1002
February 19, 2018, 05:22:31 AM
in your country income from bitcoin taxed? state the country
In our country taxes of bitcoin is not implemented because government is not accept cryptocurrency . They keep reminding those people who are using this kind of transaction that its definitely a scam . But if government wanted to accept for this kind of cryptocurrency in a community was usually amaze people in how it works . Taxes of bitcoin has a great help To improve our economy grow and prepare for crisis and also its for people sake such as roads reworking, infrastructure,  schools and commodities of people who are less fortunate.
sr. member
Activity: 882
Merit: 403
February 18, 2018, 05:08:47 PM
in your country income from bitcoin taxed? state the country


Well the great thing is that, there really is no such thing yet in our country that is making crypto loving people give taxes on earning or storing any kind of digital currencies. But the thing is, our country is like just turning a blind eye on the issues that are both positive and negative about any crypto currencies out there. Which is pretty scary since it makes me think that they are planning some big things to do either good or bad for the crypto currencies. I just wish that banning of cryptos or giving taxes that are completely illogical or are just obviously too high that we obviously have to follow since we really do not have any choice because they are the authority, they are the government.
member
Activity: 183
Merit: 10
https://vulcanforged.com/
February 18, 2018, 03:16:21 PM
As far as I know, I think not. Not yet actually. I guess our government here in my country still discussing cryptocurrencies especially Bitcoin. It is an on-going debate between them to agree if they really should support Bitcoin. I hope they would. Because people here do really love Bitcoin.
sr. member
Activity: 1554
Merit: 260
February 18, 2018, 02:32:55 PM
In my country you don't have to pay tax from Bitcoin, but from the profit you earn when you exchange Bitcoin to fiat.
Actually even when you buy something for Bitcoin, it is also taken as exchange. Sad
sr. member
Activity: 672
Merit: 250
February 18, 2018, 11:21:58 AM
My country has not yet levied on bitcoin. Because bitcoin is not widely used in my country. Very few people know bitcoin. I think the bitcoin will be taxed in the future. This will reduce the development of bitcoin.
sr. member
Activity: 575
Merit: 250
February 18, 2018, 11:06:44 AM
At present, bitcoin is developing strongly in the world. It is reasonable for a bitcoin user to pay taxes. Taxes are imposed that will curtail the development of bitcoin. Many countries are imposing very high taxes on bitcoin users.
jr. member
Activity: 126
Merit: 1
February 18, 2018, 10:03:40 AM
I'm from the Philippines and our country haven't started collecting tax from bitcoin income yet. But, news about plans the government is making is spreading so maybe sooner or later our country would be collecting tax too.
member
Activity: 280
Merit: 11
February 18, 2018, 09:47:34 AM
in your country income from bitcoin taxed? state the country
BTC, are not yet regulated, there is no basis for the computation on taxation by mandate of the Government.
BTC are possible to be Tax, but still there's a lot to be done on the side of the Government.
sr. member
Activity: 364
Merit: 267
February 18, 2018, 09:10:57 AM
No, bitcoin is not taxable in our country. Bitcoin is not legal nor illegal in our country. And not even the banks accepts bitcoin as a source of income. Maybe theres a time that they will implement that bitcoins to be taxed later.
Same with where I'm from, they don't have special rules about bitcoin, it is neither illegal nor legal. But they keep reminding the citizens of the country to stay away from cryptocurrency because most of it are scams, which is not definitely true if only they have knowledge about it. Which leads to the banks being sensitive about bitcoin where in they also don't suggest to do any transactions regarding your earning through bitcoin.
member
Activity: 258
Merit: 14
February 18, 2018, 09:03:08 AM
Wow, many people in this thread needs to go watch "Hidden Secrets of Money" by Mike Maloney.  Taxes don't go to fix/improve anything.  Doesn't even cover the interest payment on debt owed by the governments to banks.  Crazy stuff here.  

https://youtu.be/23DNe0cJhcU

 
sr. member
Activity: 1736
Merit: 357
Peace be with you!
February 18, 2018, 08:57:36 AM
Depending on your income bracket for 2018 the federal tax rate can be anywhere from 10 percent to 39.6 percent.
Either we like it or not tax is everywhere and we cannot escape from it. In my humble opinion, as a citizen of a specific country we must pay taxes for the good of our own economy because it will reflect to it. It is just a little contribution but some of us don't like that system and prefer to hide with cryptocurrencies and attempt or try to evade tax. Though tax is unfair for people like me who is a less fortunate but still I am able contribute through my income and profit here in crypto world I felt sorry for those who reaaly have nothing but you know being poor is a choice.
newbie
Activity: 26
Merit: 0
February 18, 2018, 08:44:37 AM
I think the tax is a payment for the ownership of goods or business in which the tax funds will be managed by the government for the common progress in the country.
newbie
Activity: 70
Merit: 0
February 18, 2018, 08:35:16 AM
any income from any field of business will surely be a regulation on taxation which is a duty which must be adhered to every citizen who occupies a country. samahalnya with the other adasebuah taxes that are on the bitcoin that I feel when I do a delivery of bitcoin assets that I have exchanged in exchange exchange in the local bitcoin wallet that existed in my country to be the official fiat currency that existed in my country. the tax deductions I feel when shipping my bank account number and not yet cutting when I will take the money from the bank. and I think it is the same as a tax imposed on bitcoin.
Tax is important most especially to a country to grow more and to get more successfully. That why people pay taxes most especially to the people who has a stable job.
hero member
Activity: 994
Merit: 502
February 18, 2018, 08:29:36 AM
For the purpose of taxation, several countries have been creating their own regulatory laws. Long back itself Israel added bitcoin to the list of taxable assets similar to gold. In my personal thinking, however high bitcoin might get regulated, when it comes to taxation cent percent success is impossible.
newbie
Activity: 70
Merit: 0
February 18, 2018, 08:23:03 AM
in brazil there is no taxes for bitcoins.
What is tax, tax is a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, or evasion of or resistance to taxation, is punishable by law.
newbie
Activity: 119
Merit: 0
February 18, 2018, 07:35:23 AM
I do live in India and our government has made special rules of income tax on the Bitcoin. Every cryptocurrency user in India has to pay some amount of tax depending on the rules and his business, they are charging the tax because the government does not want anything else to import or export from their country without permission that will be considered as an illegal substance. I don't think that any other country has taxation on Bitcoin for any other cryptocurrency till now but it's ok where finally using this cryptocurrency system in our country.
In our country , government not accept taxes or collecting taxes in bitcoin but bitcoin has a great contribution in a community to the people they gave chances to the poor and help to maintain good lifestyle.
legendary
Activity: 1274
Merit: 1004
February 18, 2018, 07:19:10 AM
I do live in India and our government has made special rules of income tax on the Bitcoin. Every cryptocurrency user in India has to pay some amount of tax depending on the rules and his business, they are charging the tax because the government does not want anything else to import or export from their country without permission that will be considered as an illegal substance. I don't think that any other country has taxation on Bitcoin for any other cryptocurrency till now but it's ok where finally using this cryptocurrency system in our country.
member
Activity: 103
Merit: 10
February 18, 2018, 07:14:02 AM
No, bitcoin is not taxable in our country. Bitcoin is not legal nor illegal in our country. And not even the banks accepts bitcoin as a source of income. Maybe theres a time that they will implement that bitcoins to be taxed later.
full member
Activity: 1470
Merit: 108
February 18, 2018, 07:07:32 AM
in your country income from bitcoin taxed? state the country
We should  pay taxes  because  it is our one responsibility  as a citizen of our own country

Also, do not forget about the legal requirements. There is no point in making millions with bitcoin investment, not paying the taxes and then ending up in the jail.
member
Activity: 616
Merit: 11
Decentralized Ascending Auctions on Blockchain
February 17, 2018, 10:32:22 PM
About bitcoin, I dont ever heard any taxes being collected by government in my country, but I know that even bitcoin is not yet collected a taxes from government but still bitcoin contributes a total development of economy, because bitcoin is a big instrument that having high value when converted into real money, and the money that comes from bitcoin will help economy develop by constructing building in any kind of businesses which the money that used to build is gain from bitcoin.
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