Topic: Tax on crypto? (Read 536 times)
It is possible to use by paying tax on it, may be adopted by the governments because governments need money(tax) with the every financial activity. It will be batter to implement cryptocurrency by taking tax on it because Crypto currency can not be stopped by any way.
If bitcoin will be tax, the amount will be an additional fund in their government. If that happen, bitcoin will be formally recognize globally. No more problem in our end.
It is a good thing to pay tax on cryptocurrency, since the payment of the encrypted currency is the formalization of the cryptocurrency.
I don't actually think that this is a good idea since bitcoin's one advantage over fiat currency is its freedom from the centralized control of the government. And also the value of bitcoin is very volatile, fluctuating up and down. With that, it would be hard to make rules on tax with that characteristic of bitcoin.
It is a good thing to pay tax on cryptocurrency, since the payment of the encrypted currency is the formalization of the cryptocurrency.
I don't think any country can tax BTC or trading operation
This is not necessary to exist. tax is already done to our fiat.
we buy bitcoin and cryptocurrencies with our fiat currency,
then why it must be taxed again? it will be double taxed.
we buy bitcoin and cryptocurrencies with our fiat currency,
then why it must be taxed again? it will be double taxed.
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
I have no problem if they treat it same as stocks and they decide to allow it. You will pay tax if you earn from your trade or you will report it as loss and don't have to pay tax. The government stance on crypto will change a lot of things if they decide to support it and i believe a lot of people won't mind either. Is it possible?
why I don't understand is how you can pay tax on something that rises and falls as much as bitcoin and other cryptocurrency. how can it be fair if you post earnings of say, 10k, then all of a sudden it's worth 3k. the volatility of the crypto world should not be taxed. it was never intended to be taxed. keep the government out of it
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
I have no problem with that since bitcoin is consider to be a currency and all earnings needs to be taxed to supporr government expenditures, and aside from that bitcoin was also made to help the economy to grow so if imposing tax will make bitcoin legal around the world or even in my country I will surely support government's decision. Is it possible?
i think as far as money is made it should be taxed thats how most societies survive,from the government's body language that's what they guning for.tax on crypto and regulation.
It would be possible only if the government can access on every gateway, like being part of it or owning the gateways itself but as for now they can't so let's enjoy every transaction without tax.
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
Is it possible?
this is certainly true for some fairly advanced countries and has legalized bitcoin.
I have absolutely no objection, as long as it suits and does not harm us as investors, traders or people involved in crypto.
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
Is it possible?
this is certainly true for some fairly advanced countries and has legalized bitcoin.
I have absolutely no objection, as long as it suits and does not harm us as investors, traders or people involved in crypto.
If government agree to use cryptocurrency, then it will no problem to pay tax on it. Because many such things we pay double tax for that and this is our income source. So if government charge tax on it, I never mind also.
could the government apply the tax for crypto, in my opinion not all governments will apply taxes, because today many countries still have not legalized transactions using crypto
In India, there are no separate taxes yet. The only taxable rules that can make bitcoin fall under it in the Section 55A. However, the income tax rules demand amendment as there are no capital gain taxes involved in self-generated assets. This clause makes it even more doubtful for the investors to know whether bitcoin trading falls under any regulation or not. However, bitcoin mining falls under the taxable income for every exchange that sums up to 1 percent, yet investors are in the air of doubts.
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
Is it possible?
I think it's possible and not so illogical if it happens to have a tax. But if governments accept BTC for a payment I think its price will jump to the sky again.
yes, there for sure will be tax on bitcoins, we can see it already be government's actions
they already threat to exchanges by legal actions if they will disclose the names and the trade volumes
and I'm quite sure this is the beginning only... it will be much uglier soon enough, imho
they already threat to exchanges by legal actions if they will disclose the names and the trade volumes
and I'm quite sure this is the beginning only... it will be much uglier soon enough, imho
What if the government agree to use crypto as an payment gateway but with tax.
Is it possible?
Everything is possible if both parties will do together and showing good transparency regarding the policies to be mandated . It will easily accepted once both has mutual benefits and ended up with fair policy given. Nothing to be worry if everyone has a role and right to know. Is it possible?
could the government apply the tax for crypto, in my opinion not all governments will apply taxes, because today many countries still have not legalized transactions using crypto
The best way to tax Bitcoin would be VAT. Why?... Because with VAT, everyone pay. Even the prostitutes and the drug lords.
All the things you buy gets VAT added, so there is no way for you to escape paying taxes. What we have seen is countries like
Japan saying that they accept Bitcoin as a currency, but they are milking it for extra high taxes. The taxes is then used as a
punishment to discourage people to use it.
If VAT already exist in a county, then the price of commodities when you buy something with bitcoin already compensates our taxes even the price are volatile. Therefore no need to tax the bitcoin owners. All the things you buy gets VAT added, so there is no way for you to escape paying taxes. What we have seen is countries like
Japan saying that they accept Bitcoin as a currency, but they are milking it for extra high taxes. The taxes is then used as a
punishment to discourage people to use it.
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