Topic: Tax on the crypto currency! What do you think? - page 14. (Read 3481 times)
I think taxation in the crypto market is perfectly reasonable to apply to organizations with large crypto numbers and they have such high asset value that would be fairer for those with high dollar income.
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.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.
if tax from Crypto is able to open the government's mind that its potential is very high, then I don't hesitate to do it. Taxes also function to regulate someone's greed and also prove that they care about development in their country, I hope crypto tax is far more efficient because it will also pave the way for legality.
if it is applied to improve the efficiency and security of transactions I strongly agree, but what still makes me confused is who will do the collection, the market or who knows to me there is a special fee applied to each transaction commonly called (GAS) and that is usually given to the miners
You can't escape taxes, even when you use your coins to obtain goods and solutions. If you're some who pays your taxes in the uk, it is very obvious that by now you've received some letter or some kind of notification from the HMRC telling you which you are in possession of a new tax code. Aside from assisting you to determine the quantity of taxes that you're supposed to pay, in addition, it says something about the quantity of tax-free personal relief which you're entitled to, and any other benefits like the allowances for the elderly, the blind, etc.
I think cryptocurrencies proceeds has to be taxable and for governments to be able to regulate and bring trust into cryptocurrencies market she must benefit from its procceed. We should know that governments regulations will drive the scammers out of the market.
As of this moment what i can say is this is not the right time for them to put a tax in crypto because first of all not all people is using crypto in fact some of other country is trying to keep secret using this crypto because they still believe that the money is main financial things that we can use. That's why i strongly disagree if that will be implemented because they must allow first the cypto to legal using in all kind of aspect.
Tax could be implemented if bitcoin must be regulated worldwide. If other countries would not favor in regulating it then it is difficult to implement taxation on it. Transactions would not be easier because regulations are not centralized. That's why it is not possible to implement taxation.
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.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.
In my personal opinion, I think there is no need to tax cryptocurrency since once cryptocurrency has been exchange into fiat money, then when we use that money we are already paying VAT for an item and services we are paying. I somehow believe in the case where cryptocurrency will be regulated in the future, that scenario will most likely to happen but not for now.
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.
regardless of taxes I will pay taxes for the progress and development of bitcoin. If with taxes will make the government accept bitcoin I think it does not matter, it will increase people's interest in bitcoin. After all, paying taxes is the same as building our own country.
Except you, there is a big number of population talking against bitcoin and tax paying. They are in favor to play with this bitcoin and earn money from it. Plus, they always concern about legalization of this stunning coin. But they aren’t ready to pay taxes. When something is legalized in a country, you must pay tax for it over its use. So,what’s just left out.
If they want taxes from crypto currencies ofcourse they need to do the same as crypto people do. The way they transaction it by internet I think the governments should do or use the same. They need create an instrument where the crypto people are obligated to give their taxes since there is some server or something they can use to collect taxes.
I think the capital income tax is more suitable to encrypt the industry. It is necessary to know that there are a lot of current exchanges, and there is not a unified standard and supervision system. The introduction of capital gains tax may better restrict the exchange.
Crypto currency is a decentralized , no government can demand taxes from cryptos, because the government have no hold on cryptos, even if the cryptos is circulating in any country , cryptos can not be demanded with taxes.
If we want goverment issuing regulation on cryptocurrency market, paying taxes is our obligation. Government must be want to take benefits from cryptocurrency market and they will regulate the market as long they can collect taxes from crypto transaction. Government can track crypto transaction on exchange because right now many exchanger want to collect KYC from their customer
regardless of taxes I will pay taxes for the progress and development of bitcoin. If with taxes will make the government accept bitcoin I think it does not matter, it will increase people's interest in bitcoin. After all, paying taxes is the same as building our own country.
Crypto currency is a decentralized , no government can demand taxes from cryptos, because the government have no hold on cryptos, even if the cryptos is circulating in any country , cryptos can not be demanded with taxes.
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. 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 definitely agree on taxing. It shows that the government is starting to accept crypto and we can feel more comfortable using it knowing that it's completely legal. This might not be an issue where you live but in many countries this is a major problem. Taxing would allow the country to develop. But I feel like, if they put tax on crypto currency then the government is going to put a high fee on every transaction.
they charging fee from total our asset i think, not in every our transaction.they just need to regulate and legalize cryptocurrency trading in order to take tax from crypto. 
I think it is not realistic to be deaf in the country for every citizen, how much he owns crypto-currencies. Yes, and still recover the tax from it. To be able to collect taxes, the state should control the system itself, where the crypto currency is actually used - and this is not realistic for a single country. Scales are too huge.
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 im worried about that. This has happened to a lot of people and I wonder what they did about it.
Jump to: