Tax on the crypto currency! What do you think? - page 11.

Btcmicel

newbie

Activity: 177

Merit: 0

Quote from: tbterryboy on August 14, 2018, 04:46:27 AM

Quote from: thevlox on August 11, 2018, 11:16:10 AM

I think if country bitcoin allow, tax is required as a citizen of the country. And I do not see any reason for not paying taxes. And if the government does not accept bitcoin, I do not want to pay tax here.

Well definitely there is a need of tax implementation. Whenever government is facilitating its citizen for anything, they must impart tax because it let government to take good steps and proper management to handle problems related to that thing. For bitcoin, if we want them to be integral part of our lives, we must give tax to government to take good care of this system.

I think it is difficult to implement because no one can trace you have bitcoin. But they can invent or create a bitcoin detector, why not?

tbterryboy

sr. member

Activity: 2030

Merit: 323

Quote from: thevlox on August 11, 2018, 11:16:10 AM

I think if country bitcoin allow, tax is required as a citizen of the country. And I do not see any reason for not paying taxes. And if the government does not accept bitcoin, I do not want to pay tax here.

Well definitely there is a need of tax implementation. Whenever government is facilitating its citizen for anything, they must impart tax because it let government to take good steps and proper management to handle problems related to that thing. For bitcoin, if we want them to be integral part of our lives, we must give tax to government to take good care of this system.

tonyja2017

member

Activity: 532

Merit: 10

I think it would be reasonable if we were protected by the government. The taxpayers will be protected by law. If the Crypto market is protected and fraudsters are avoided, I am willing to pay full tax. If not protected, I will never pay taxes to the state.

wendiar19

full member

Activity: 470

Merit: 102

Taxes for cryptocurrency don't seem to be applicable, cryptocurrency will only be reduced when sending and conducting transactions because it requires shipping costs for mining pools like blockchain.

indrakusumaindra

full member

Activity: 728

Merit: 101

The Standard Protocol - Solving Inflation

i think tax is okay and profit tax is really good for cryptocurrency. We dont have to be afraid of tax cause its part of our live, with proper tax and proper support from goverment towards cryptocurrency i believe it would make market better and also goverment would support it if they do get profit from it.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: coingrowth on August 10, 2018, 11:42:14 PM

Still, we don't have much clarity about the Taxes from the government but how far they will start collecting the taxes we have to wait and see. One thing i can say paying taxes on trading assest is always good because so that government will start legalizing the crypto currency in their concerned countries.

Yes, we will have to pay taxes on activities in crypto currency. In order for the state to legalize the crypto currency and not to prohibit it in the future, we will have to pay taxes. However, given that this activity is rather anonymous and is carried out with the help of the Internet, and exchanges and exchangers of crypto-currencies are located all over the planet, taxes can be paid in a dosed way, at its discretion, depending on the amount of tax imposed.

ClackKendi

newbie

Activity: 196

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.

Kokakolla

newbie

Activity: 55

Merit: 0

In my opinion, if we has get tax at our transaction it ill okey for our future crypto. We must appreciate for this annauncement. If the countries take control of the crypto currency and deal with it, they will, of course, levy a tax. The profit tax is most suitable. In the end, the difference between your money invested in the project and your money received from the project is profit.

goodman4hire

full member

Activity: 291

Merit: 100

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.

setialovers

member

Activity: 812

Merit: 11

Quote from: squog on June 25, 2018, 10:48:17 PM

I think it's more in line with capital gains tax. Then again, you have to consider this. If you gain from your holdings the government with get a slice of it. But if you lose, they won't bail you out. I myself if for crypto currency taxation so that the government will just shut up and join in. But then again, there are loop holes to get away with paying them.

Not matter how, government playing important role on our life. If we want government regulate cryptocurrency market, we should able to paying taxes because its obligation from a citizen. I will paying taxes if government issuing regulation on cryptocurrency. Regulation is important for crypto market because its involving big money in market

ibrayzorhaf

member

Activity: 490

Merit: 10

with the existence of tax in each transaction this has an impact on the legal crypto itself.
hopefully implemented in many countries so that everything looks good for crypto's future

arbifahrozy

full member

Activity: 896

Merit: 100

$CYBERCASH METAVERSE

i think if we has get tax at our transaction it ill okey for our future crypto.
we must appreciate for this annauncement

pabpete

sr. member

Activity: 539

Merit: 255

Quote from: marginal on August 11, 2018, 01:24:26 PM

The main thing for me is that government would not put the tax which will be depending on earnings and be represented by percents, so basically 60% of your income would go to government, or even more.

I think that it is to much but of course tax will be one of the things that goverment will do to make crypto possible to use in their country, that will be one of the regulations which will be made in near future for me.

Aidan_Davis

newbie

Activity: 21

Merit: 0

Quote from: tanyeza123 on August 11, 2018, 01:15:31 AM

It's obviously not possible to control cryptocurrency flows and therefore tax them accordingly, but they can easily track every single dollar/fiat/whatever currency that's collaborating with an exchange, then see how much fiat you spent in a single currency.

When you want to cash out to buy real state or something, you will need records of all of your trades and crypto accounting, so try to keep track of that. I have lost some of my history in trading due dead exchanges and now I'm worried about that. This has happened to a lot of people and I wonder what they did about it.

That's exactly what I was thinking. There's no way to control the flows. I'm not sure if it's actually that easy for them to track every dollar you exchange. I wonder what country your in. It seems to me that governments are scrambling to get some "control" over crypto, but it's not working for anybody yet. I don't think you should really worry so much about every little transaction. Who do you plan to show that to? Your tax agency? Maybe in the future you'll be able to just buy a house with crypto. They'll never know then.

embargo

newbie

Activity: 266

Merit: 0

It is entirely possible in the future to take taxes from operations in the crypto currency. Only for this purpose should launch a control mechanism that could not be bypassed. But this is still a very distant prospect.

marginal

member

Activity: 224

Merit: 10

The main thing for me is that government would not put the tax which will be depending on earnings and be represented by percents, so basically 60% of your income would go to government, or even more.

thevlox

jr. member

Activity: 179

Merit: 1

I think if country bitcoin allow, tax is required as a citizen of the country. And I do not see any reason for not paying taxes. And if the government does not accept bitcoin, I do not want to pay tax here.

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

If government collecting taxes from cryptocurrency transaction, government should preparing regulation for it and government should legalizing crypto. I think its fine if transaction on crypto have a tax because its more comfort for investor. Paying taxes is obligation for every good citizen and we should be paying taxes when we get profits on our investment

alentmay

newbie

Activity: 67

Merit: 0

Quote from: tbterryboy on August 01, 2018, 05:18:47 AM

Quote from: bbnt81 on July 26, 2018, 12:47:45 AM

I think most people go with capital gains tax. But honestly I am fine with any.
People hate taxes but i support them. Really. Without taxes, a country like the US will never be good and have a rapid rate of economy development.
Think about taxes as to help our goverments to build the cities, education and future for our children. This will make us more willing to pay taxes and forget about selfish needs.

I don’t think so that there is any such governing authority which can impose tax over any of the crypto currency for now as these crypto currencies are decentralized in nature and that they don’t come under the rule of any of the government. Government will only be able to impose tax over these crypto currencies at time once the government will declare them as legal currencies.

I think even government apply the tax people still never gives tax they're greedy and never waste there coins in taxes since they're already giving highly fee. By applying taxes it will become legally it would be good but people won't accept it.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: Mr.grin on August 10, 2018, 10:41:01 AM

Quote from: ShineftChaos on August 10, 2018, 10:18:00 AM

Quote from: Bakery cream15 on August 09, 2018, 10:55:17 AM

Tax is good. So how possible will it be to impose tax on cryptocurrency users considering the fact that , there's nothing like link between onchain and off chain addresses of crypto owners? Cheesy

Tax is only good for people who are capable of earning a huge amount of salary but for those who did not have a decent income, tax is a pain in the ass and that is the reason why people are working to earn cryptocurrency.

well, the tax for cryptocurrency is quite good, especially if it is developed to expand cryptocurrency development. I think that is also a support from the government. but, I think it's still so difficult to develop this.

Actually tax is one of the requirements of the government to legalize btcoin like what some countries do. actually I agree with that. but you have to be prepared with your identity that will be exposed? do you want that to happen? yeah actually that will really help the development of bitcoin

Topic: Tax on the crypto currency! What do you think? - page 11. (Read 3513 times)