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Topic: Tax on the crypto currency! What do you think? - page 10. (Read 3513 times)

hero member
Activity: 2688
Merit: 588
In my opinion if this the way to legalize bitcoin in one country I think i will agree of given tax in cryptocurrency, taxes from cryptocurrency can help many people in the country to build  more infrastructure and can give benefits to poor people.
You are absolutely right about it to help and build country and its development is very important but we have to look at our conditions as well. We pay taxes on lots of things and products and our whole assets and now implementation of tax on decentralized cryptocurrencies is totally out of mind and hard for us. It is burden on people and the traditional of government has entered here in our country while most of the countries are tax free of cryptocurrencies.
hero member
Activity: 2912
Merit: 556
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tax on the cryptocurrency can be applied by the government to take more income to the economy of the country and I guess this will happen when they are ready to integrate their system with the blockchain technology. but as I don't know much about the economy, I think it will be good for us because this will help cryptocurrency reach more people to come to the cryptocurrency and the effect for the cryptocurrency itself will become more popular in the future. the government needs to adjust the tax so it will not make any problem for the cryptocurrency user.
newbie
Activity: 168
Merit: 0
supporting tax from crypto means supporting its development to go to the legal tender stage, if a lot of taxes are absorbed eventually the government will also open itself to crypto, don't always think about the negative effects afterwards, but how we contribute actively in development. so far my country has only applied transaction taxes, I am not too troubled whether they have finally applied income tax this year.



I think the Government must make taxes but not extort it. Do you see government support for all participants in the cryptocurrency market? Why pay taxes? I hope one day I will have the opportunity not to use Fiat and I will not disturb the government at all.
I don't think about taxes. I have the opportunity not to pay them and I will not do it.
jr. member
Activity: 30
Merit: 37
I think, the most suitable model is the capital gain tax model, where taxes can be applied to individual income obtained as a result of a crypto investment.
full member
Activity: 476
Merit: 101
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It's a bittersweet symphony for all crypto enthusiast talking about government implementing tax on crypto earnings. But if we look at it in the better side, it's really okay to pay taxes from your crypto earnings as long as you are 100% sure that your money invested in crypto will not go in vain.
full member
Activity: 392
Merit: 103
For me its okay to have some taxe in crypto. Because taxes help your country and if you help your country you help your family. Because all taxes you paid will be return to us. But it should be on the right price
full member
Activity: 420
Merit: 100
In my opinion if this the way to legalize bitcoin in one country I think i will agree of given tax in cryptocurrency, taxes from cryptocurrency can help many people in the country to build  more infrastructure and can give benefits to poor people.

Cryptocurrency is very profitable because it was tax free , another thing is that, taxes should not be implemented because people are already paying transaction fees.
full member
Activity: 392
Merit: 100
It wont be  a good idea because cryptocurrency should be decentralized and should not be controlled or tax by any body, they only have power to regulate.
hero member
Activity: 2660
Merit: 651
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I'm confused on how they expect you to pay tax in fiat if you never received fiat to begin with.  Say i made a million on Bitcoin and changed it to Ethereum.  How would I pay a 200k fiat bill.  The tax situation on this is crazy. 
Agreed with what you said because they only keep track of every crypto currency transactions in other for them to collect the tax and by doing that they have automatically change the decentralized in nature crypto currency in centralized and that is not acceptable.
newbie
Activity: 84
Merit: 0
Obviously its bad for the bitcoin holders that they need to pay tax for a digital currency, which they even cant use for all purposes like other currencies (fiat). But its hood for the country we live in and its indirectly or directly hood for us and mostly those people who is dependent on government for surviving. Thus, in my opinion if we are paying tax for bitcoins, its for a good purpose.
jr. member
Activity: 196
Merit: 4
I hope that the government will ever tax cryptocurrency because when they do, they will most definitely put higher taxes on it than anything else. The government will probably try to control it, maybe abuse the taxes that will be getting from it. Besides, where will the tax go if it has one?
full member
Activity: 589
Merit: 102
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For now in my country it is not a case but if it would be I think I would be not very happy with that, because my country is loving to put huge taxes on anything to have money from people.
newbie
Activity: 99
Merit: 0
In my opinion it is the responsibility of every citizen to pay their taxes when they are employed because it will be used by the government to improve the economy of the country but if they will impose tax on Bitcoin i think it's not appropriate.
sr. member
Activity: 1974
Merit: 450
In my opinion if this the way to legalize bitcoin in one country I think i will agree of given tax in cryptocurrency, taxes from cryptocurrency can help many people in the country to build  more infrastructure and can give benefits to poor people.
well, if it is able to make great support for cryptocurrency, and is able to be utilized globally, I think it will be very good. besides being accepted in the world, I think this is also able to help the economic growth in a country that receives cryptocurrency
newbie
Activity: 45
Merit: 0
If we get profits from our trade and government collect taxes from thats profits, it seem fair to me. Government must be knowing our transaction on exchanger because many exchanger right now asking KYC.
newbie
Activity: 68
Merit: 0
If taxing cryptocurrencies will enable us have the support of the governments, then no problem.
jr. member
Activity: 252
Merit: 2
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It will depend on the VAT that will be going to iplemented. As we all know that the value of crypto is constantly moving so how could they implement crypto taxation? Or if they can implement through local exchange after purchasing crypto then it is better also to decide on how much should the government will going to take the VAT for the purchase crypto.
newbie
Activity: 30
Merit: 0
Tax is a legitimate source of government income if all of us have good income to pay taxes to government that is legitimate.

I agree with your opinion, that tax is a source of state income. Without taxes, the country will end. But tax on cryptocurrency? I don't think that is possible because cryptocurrency is a decentralized digital currency while the trading system is peer to peer. So it is difficult to monitor what crypto money is used for or where. How to anticipate it is not by imposing taxes on crypto, but the imposition of taxes on goods / services paid with crypto money.
full member
Activity: 616
Merit: 100
FRX: Ferocious Alpha
In my opinion if this the way to legalize bitcoin in one country I think i will agree of given tax in cryptocurrency, taxes from cryptocurrency can help many people in the country to build  more infrastructure and can give benefits to poor people.
full member
Activity: 659
Merit: 101
Currently, no tax should be applied to cryptocurrency because this may affect the development of cryptocurrency.
Not all the countries are tax free for Bitcoin and other cryptocurrencies but there are some countries in which developed countries are also counted where they get tax on cryptocurrencies. This is too bad because cryptocurrency is decentralized and they should not give tough time to people everywhere but they should leave it for the people to enjoy their cryptocurrencies.

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