tax for a safer crypto environment - page 5.

seoincorporation

legendary

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

It will need a non-corrupted-government to be a reality. I'm afraid this is going to be very difficult to achieve in so many countries, despite it is a great idea, for the current situation in too many places is corruption as a daily reality.
Anyway, taxes are already being applied in some countries, as long as the crypto convert into fiat and depending on the amount you get in the transaction. For instance, in Spain, you will need to pay taxes if your crypto selling activity is more than 1000 euros, as far as I know. But, of course, the taxes are not invested in any activity related to crypto security.

osh5

newbie

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I think it's a great idea. Already transactions from Visa are not tax free and charges are included.
Moreover crypto transactions require special care and vigilance and if government of any country doesn't want to spend extra prices for it, they can charge people for every transactions ensuring safety and security for their money.

fiulpro

hero member

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Well, the tax that you are talking about is something that is more or less already implied. When you get your bitcoins or for that matter cryptocurrency exchanged for your local money, the gains are take as capital gains which comes under the lens of taxation.

In most countries the profit that you make by trading or holding bitcoins are also seen as a capital gain, which again comes under taxation process. So your profit is anyways taxed, now whether the taxed amount is used in you protection and security or not is what the government knows.

bengsabeng

full member

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that's a pretty brilliant idea. but to do that the government needs expert cryptocurrency. especially now there is still no rule for cryptocurrency.

South Park

hero member

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I am terrible at Fantasy Football!!!

Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

lushlife

newbie

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What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Topic: tax for a safer crypto environment - page 5. (Read 425 times)