Topic: Tax on the crypto currency! What do you think? (Read 3506 times)
We will have to pay taxes on cryptocurrency if we want the cryptocurrency to develop and be legalized by the state. However, a significant number of users of cryptocurrency will shy away from paying such a tax, given that it is very difficult to track the movement of cryptocurrency. I treat this normally. The most acceptable option, in my opinion, is the tax on profits from cryptocurrency. The least understandable and absurd for me is the capital gains tax in cryptocurrency, because unlike other objects of taxation, cryptocurrency has a very high volatility and can not only increase but also decrease in its price. If the cryptocurrency grows in price, we pay capital gains tax, and if it decreases? Then it is only our problems, because no one then will return the paid tax to us.
it doesn't matter if there is a tax for bitcoin users, but users also have to ensure that bitcoin gets recognition and also the support of financial institutions to be publicly recognized
although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
yes offcourse crypto community feel comfort with this tax and regulation.goverment will make sure that there is no scamm activity in this market by issuing certain policy.although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
Imposing tax on cryptocurrency by government is not good enough to me. If you have your cryptocurrency as cryptocurrency without converting it to fiat currency in other to do local business, then I think you should be excused from paying tax.
Taxes for cryptocurrency can change public perceptions, which have so far been negative where they are not taxable, money laundering, etc. Then the public will judge cryptocurrency to support government programs, because without tax revenue, development will not be possible. After agreement with the government, cryptocurrency can slowly become a popular digital currency in the long run. 
it doesn't matter if there is a tax for bitcoin users, but users also have to ensure that bitcoin gets recognition and also the support of financial institutions to be publicly recognized
although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
yes offcourse crypto community feel comfort with this tax and regulation.goverment will make sure that there is no scamm activity in this market by issuing certain policy. although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
I am against the cryptocurrency tax, which is a free and anonymous coin and should not be taxed. Only some concentrated coins can be taxed, and bitcoin will never be taxed. Bitcoin is a great coin whose anonymity makes it impossible for the government to tax it.
it doesn't matter if there is a tax for bitcoin users, but users also have to ensure that bitcoin gets recognition and also the support of financial institutions to be publicly recognized
although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
although it doesn't change the nature of bitcoin which is vulnerable, but at least communities around the world feel safe with this bitcoin
I dont realy like bitcoins to be taxable because we are the one who worked hard to earn it and the government doesnt have any right to collect any amunt from us. They already applied stupid taxes on food and drinks included transport so I think that already too much of generosity from us.
tax on cryptocurrency could be good policy for us.its not only about money, but more of that such as certainity , protection and others.investors could be confidence and comfortable with governmen policy. 
Goverments may amend a tax law which orders implementation of a tax to air that we breath. I think, they'll find a way. People will find a way in order to avoid paying tax for crypto money transactions. For payments, there seems no way to avoid a tax in future. Because gaverments may easily control companies which accept crypto currencies for their goods and services.
I think people who uses cryptocurrency cannot find a way to avoid paying tax if the government will start to accept cryptocurrency in the future because the government will not let us to earn money for free, that is why they will give us tax.
There are several tax options today, and all of them can be applied to crypto-currencies, depending on how the latter are defined in the state. Most often, the following taxes are introduced:
Too many taxes, the government has really bad policy about bitcoin that will not give them benefit. Actually Australia also make a bad regulations in the past, they apply too high rates of taxation for cryptocurrency and then it make the number of fintech industries decrease then Australia realize it and reduce the taxation rates. Actually government may not only depend on taxation but it should have income from state industries. - Value Added Tax (VAT). It can be levied by trade operations made with the help of crypto currency as a means of payment, as well as currency exchange. Basically - the exchange of crypto currency for fiat money, but in theory VAT can be levied on the exchange of crypto currency between each other. It operates mainly in those countries where crypto-currencies are recognized as a payment instrument, for example, in Japan. When buying goods and services for cryptocurrensies, VAT will also have to be paid to the residents of the UK, but they can exchange the crypto-currencies for fiat without paying VAT.
- Tax on goods and services. A kind of analogue of VAT for those countries that have recognized crypto-currencies are not a means of payment, but a commodity. Acts on the same principle as VAT. Only in the case of VAT, the taxpayer is in fact a buyer, and in the case of a tax on goods and services, a supplier of goods and services, in this case a holder of a crypto currency. He has been working in Singapore for several years. At the beginning of this year, a similar system was adopted by Israel with respect to the mining, which was equated with the production of goods.
- Personal income tax. Personal incomes in crypto-currencies are taxed, for example, the salary paid by the employer in bitcoins. Implemented, for example, in the US.
- Profits tax. They are subject to any companies that make a profit. Also, they are subject to profits earned as a result of trading on the exchange and the performance of other currency transactions. In the cryptosphere, this system is used specifically to tax the crypto traders and various crypto-currency organizations (from the exchange of crypto-currencies to the pools for mining). Mining may also be subject to profit tax. In the US, for example, take into account the profit from crypto-activity in the tax declaration will have to be traders and miners, and all people who somehow earn on crypto-currencies as a result of speculation. The same tax is levied on all crypto-currency transactions made by legal entities in Australia and Japan.
- Capital gains tax. They are subject to income of individuals and legal entities obtained as a result of investing in shares, bonds, securities, valuable assets and so on. In the cryptosphere, it starts acting as soon as the crypto-currencies are equated to valuable assets. Not only investors fall in, but all holders are also crypto currency. This system is implemented in the US, where it matters how long the holders of crypto currency keep them and in what quantity. He also works in Australia, Brazil, Canada and in many EU countries - Bulgaria, Finland, Germany, Spain and others.
- Property tax. For the cryptosphere, it becomes important when the crypto-currencies are recognized as property, a valuable asset that is owned. As soon as such an amendment is made, the holder of the crypto currency is required to notify the tax service of all transactions concluded with this asset. Such an amendment was introduced in the US tax legislation, where the crypto-currencies in this case are presented as a valuable asset, and in Australia, where they are recognized as property.
Goverments may amend a tax law which orders implementation of a tax to air that we breath. I think, they'll find a way. People will find a way in order to avoid paying tax for crypto money transactions. For payments, there seems no way to avoid a tax in future. Because gaverments may easily control companies which accept crypto currencies for their goods and services.
I think people who uses cryptocurrency cannot find a way to avoid paying tax if the government will start to accept cryptocurrency in the future because the government will not let us to earn money for free, that is why they will give us tax. 
Goverments may amend a tax law which orders implementation of a tax to air that we breath. I think, they'll find a way. People will find a way in order to avoid paying tax for crypto money transactions. For payments, there seems no way to avoid a tax in future. Because gaverments may easily control companies which accept crypto currencies for their goods and services.
If crypto currency are still on stage of decentralization, it means that tax will not be possible to be happen for every individual holders of crypto.
Even in some other nations like Japan for example they regulated crypto because maybe they may have the exchange which is registered under SEC so that all their bitcoin and altcoin users will use that exchange to convert their holding coins to their own fiat currency. This is for my own comprehension only or for what I understood about it.
Even in some other nations like Japan for example they regulated crypto because maybe they may have the exchange which is registered under SEC so that all their bitcoin and altcoin users will use that exchange to convert their holding coins to their own fiat currency. This is for my own comprehension only or for what I understood about it.
maybe what we think about for the first time is certainly a reduction in our profits in investing, if my thinking is if there is a security tax and our comfort in investment can be guaranteed and the tax is not burdensome of course many investors who agree with the tax
I think if cryptocurrency put tax surely many of us will be sad because the proft we might get in crypto are not whole because we need to pay tax and its depend how much profit we get, the higher the earning we get the higher tax collected. But since crypto is decentralized there is no tax to pay that's why the earning we get are only to us. 
maybe what we think about for the first time is certainly a reduction in our profits in investing, if my thinking is if there is a security tax and our comfort in investment can be guaranteed and the tax is not burdensome of course many investors who agree with the tax
I don't think about taxes. I have an opportunity not to pay them and I won't do it. The government should make the tax but not to extort him. Do you see government support for all participants in the cryptocurrency market? What to pay tax for? I hope that someday I will have the opportunity not to use Fiat and I will not interfere with the government at all.
Exactly. People won't pay for that if they won't support us back in crypto. This is just a give-and-take business, everyone. We should at least fight for what is right.
Imposing tax on cryptocurrency by government is not good enough to me. If you have your cryptocurrency as cryptocurrency without converting it to fiat currency in other to do local business, then I think you should be excused from paying tax.
Tax, according to the laws of any nation should be paid by businesses. Since most people have taken up cryptocurrency as a business, then they should pay whatever tax that is due.
you are right.. lots of new crypto startups. such as ICOs . Exchanges and other Startups are registering themselves. and being incorporated under Govt. so they must pay the taxes as well. I think legit and big crypto startups which are incorporated under govt are paying tax. otherwise, how could govt let them continue the work. Binance earning millions of $$$ every month in profit. they must pay the tax.
It's not a bad idea firstly. It's just the percentage to pay that makes me wonder if they are still on their right mind. Here they were thinking first to tax it by up to 60% which is insane.
I think that tax payment to the government is the whole essence of the government's motivation towards cryptocurrency regulations. Meanwhile, you often find out in some countries that the taxpayers money is often stolen, which means that cryptocurrency holder may want to avoid tax as much as possible.
The introduction of any kind of taxation on cryptocurrencies will definitely reduce their popularity and disengage potential users and investors.
Anyway, I think that the discussion about the necessity of imposing tax on crypto will go on for another several years until the moment when governments crearly define the status of crypto - whether it is an asset or a method of payment.
Anyway, I think that the discussion about the necessity of imposing tax on crypto will go on for another several years until the moment when governments crearly define the status of crypto - whether it is an asset or a method of payment.
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