Tax on the crypto currency! What do you think? - page 18.

rickadone

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Quote from: shield132 on July 05, 2018, 05:31:47 PM

Quote from: verziagra on July 04, 2018, 11:40:34 PM

Taxes will greatly help the country's economy if all the crypto assets that everyone owns apply to pay taxes on each transaction or send tokens and coins. eg 1% or 2% of total assets owned.

Wait wait, are you ok? Tax is needed for economy but it's ok on wages, business profits and etc, what you write is out of sense, tax on every transaction? This make people very, very poor and all the money will be in goverment, do you see any idea here? People try to integratw bitcoin paymends and do much to attract people to use bitcoin and now.you say 1-2% tax on every transaction? Very unlogical.

Yes, no logic with that and I am pretty sure he has no idea of what he was even saying and decided to just opt in. Even value added tax cannot be charged to that level let alone charging every transaction of bitcoin. First off, we are even referring to a decentralized space where we can do P2P transactions without the government monitoring any of it since there is no third party anyway, so charging of every transaction is impossible.

Capital gain tax is what we can apply to the idea of making use of crypto-fiat based exchanges, and in that case, you will be subjected to it, and that percentage will depend on what each government come up with anyway, but every transaction ? The guy is sure high on something.

bitgolden

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Leading Crypto Sports Betting & Casino Platform

Quote from: Bezobraznike on July 03, 2018, 01:42:04 AM

Quote from: Squa7ch on July 03, 2018, 01:10:48 AM

Quote from: Chrisjay29 on July 01, 2018, 05:46:35 PM

For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe

Yes. You are correct. For a fact that countries that have high tax also have high quality of living. At the end of the day your taxes going to the goverment help contribute to a better life for you, families, children...

We need to pay taxes cause that`s the money that should be used for all of the people that lives in one country. The money we pay fund many services,
our tax help to support police, health care, firefighters, building roads and many other things. Paying tax should be beneficial for the entire nation, from tax
money and how government use it depends country growth.
I pay tax, for me that`s not a problem. I would pay tax for my Bitcoins, but there isn`t law about it in my country.

I have read an article in which it was sated that Indian and American system acts differently than other countries in some cases. There are a lot of tax free countries for Bitcoin and this is due to its decentralized nature but America and India besides few more countries are acting against and implementing tax on the Bitcoin.

It is out of mind and they should change this system because we earn Bitcoin with our own fiat currency which is already taxed so again tax on Bitcoin is irrelevant.

katrimans

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Quote from: ShitTL on July 04, 2018, 09:46:45 AM

I think e-government should also pay taxes to the state because after all, it is their property they use bad money to buy so if they own bitcoin or altcoin then they have to pay taxes on the crypto currency

The government rather cares more about its own interest and tax collection on the money you earn with Bitcoin can sum up to billions which is what the government would love to have their hands on.

But this is something majority of the crypto users do not like and are of the view that it should not be taxed because it is not easy to deal in Bitcoin with the market values and let alone other factors that affect the prices the government taxation will make it worse for them.

upsidedown75

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Quote from: Crystal24 on July 05, 2018, 02:23:32 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?

At least, if the government is taxing the space, it shows they are benefiting from it as well and whatever they are benefiting hugely from, they sure are not going to want to discard it for anything.

Tax usually helps the development of countries, which is if used in a good way anyway and not just distributed and siphoned into pockets of politicians as we see in most cases of some countries while the masses still end up suffering a lot. The thing though is that is simple tax laws can be placed for the benefit of all, at least for peace and development; I see nothing bad in having it.

TheClownSong

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I think taxes on profits from crypto trades is more i like. 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.

Sengoko

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Quote from: ShitTL on July 04, 2018, 09:46:45 AM

I think e-government should also pay taxes to the state because after all, it is their property they use bad money to buy so if they own bitcoin or altcoin then they have to pay taxes on the crypto currency

No, this isn’t much difficult. Don’t consider it difficult when it comes over government level. All governments have plans and strategies and departments to deal with this sort of taxation. They would refine a very interesting and friendly plan for imposing tax on bitcoin and other crypto but this dead lock must be needed to resolve. Both government and bitcoin development team have to look into this.

Ondre

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https://i.imgur.com/iwknjIj.png

If tax is being implemented for a country, well it will be a big profit for the country with big people involve in it and many are earning through crypto than regular jobs out there. It will be a big contributions to ones countries funds. That is if they will take crypto in their countries and implement tax. Economy will increase by then.

coinplus

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Quote from: Pattart on July 03, 2018, 08:45:13 PM

Quote from: Chrisjay29 on July 01, 2018, 05:46:35 PM

For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe

I also don't think it's a big deal. there must be consequences from the government if they want to tax the bitcoins. that is the legality of bitcoin. as long as they want to legalize bitcoin. I have no problem with the taxes that will be applied. It will be beneficial for both of them

It is really not a big deal but it becomes a big deal if the government decides to not just want to be lenient enough to at least come up with taxation policies or laws with respect to bitcoin and cryptocurrency as a whole which will benefit everyone including the government themselves.

Nevertheless, some of them are so blind with control, which the only thing they are just after is their pocket and not to give the citizens the freedom they deserve. However, with or without tax, the freedom is here and no one can take it away from us except ourselves.

coinfinger

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Quote from: t2yax on July 04, 2018, 08:15:14 AM

We can see what will be the future of cryptocurrency if tax will be approved. We know what are the effects of tax, especially if our profits is too low. We cannot get the whole income, there will be always a percentage for tax. Is not like our income, a little profit for small investment can cause a big problem for us.

This is a game that is being played in a very charismatic way. People don’t even know where their money is going. They think, this might be used for their own betterment but the reality is a little bit different. Politicians are implementing and implying so many taxes on general public and when they get that, majority of the portion is just going to the pockets of these suck politicians.

Swenna

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Quote from: carcas on July 07, 2018, 06:49:34 AM

How can crypto be taxed and who will be responsible for money from crypto taxes? whether the government will manage the tax crypto in the future?

The tax implemented for crpto depends on the laws and regulations of a country. A government must actually have a detailed information on how to implement tax on crypto and its basis as there are different kinds of taxes. Just like what I posted in a previous post,

Quote from: Swenna on July 07, 2018, 11:06:33 PM

---
Just because bitcoin is decentralised does not mean it is already non-taxable. Depending on the country where you use it, taxes are still being applied to it. In the US, for example, this:

Reference: https://www.google.com.ph/amp/s/www.theverge.com/platform/amp/2018/1/29/16928768/cryptocurrency-bitcoin-how-to-file-taxes-2018-return-compliance-irs

The table above states that the tax applied on the bitcoin entirely depends on the means of its acquisition. Therefore, depending on a countires regulations, bitcoin and its usage is not exactly tax-free.

Now, fir your question about who will handles the tax in crypto then the answer is that ut should be manage by the same government sector that manages the countries tax. After all, it is all just the sane, the only difference is its type and revenue

Biggapp

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Quote from: Adhichan on July 09, 2018, 03:36:45 AM

Quote from: nightways on July 09, 2018, 03:34:27 AM

Quote from: mornabo on June 28, 2018, 10:12:23 PM

Quote from: Vs225655 on June 28, 2018, 03:26:04 PM

As for me, no model is suitable. The first was bitcoin and his idea was quick payments and no deposit transfers. It has already begun to intervene in the country and offer as usual its interest. In my opinion, there should be no commissions.
Then everything will be cool)

I know everyone wants easy and free transactions dude, but we live in a different era now, all have to pay as well as payment
transactions, there will always be any a fee transaction you have to pay, and we should be reasonable with it

Suppose I pay tax on my crypto transactions, will the exchange be responsible for any lose like hacking? If the answer is no then I am not in favor of tax on crypto. I think that taxes are for the benefits of people and if there is no facility from the exchangers and controller then why they would impose taxes? I don’t understand this phenomenon.

taxes that we paid in exchange should make insurance for our fund saved in exchange wallet.we must get benefit from this taxes.if we dont get it, better for me to not paying taxes.

Yes it is good and beneficial for us because the place where I do live, the rule of the crypto currency tax is quite well developed, it has some regular laws and those laws never change, but since long bitcoin was tax free which was pretty cool time but now is it time to see a change and trust me experiencing tax with bitcoin is also one the interesting and exciting factored of truth so I think it is nice to have some tax over crypto currency.

readygoaw

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Quote from: webdevmastery on July 08, 2018, 06:07:25 AM

Quote from: carcas on July 07, 2018, 06:49:34 AM

How can crypto be taxed and who will be responsible for money from crypto taxes? whether the government will manage the tax crypto in the future?

In my own opinion, cryptocurrency should not have taxes because that is the reason why it was very profitable, another thing is that traders are already paying decent enough fee's to compensate with taxes.

If people start using crypto currency instead of paper money and will not pay taxes then the state will not have money to provide for the needy. Reasonable taxes need to be paid.

Adhichan

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Quote from: nightways on July 09, 2018, 03:34:27 AM

Quote from: mornabo on June 28, 2018, 10:12:23 PM

Quote from: Vs225655 on June 28, 2018, 03:26:04 PM

As for me, no model is suitable. The first was bitcoin and his idea was quick payments and no deposit transfers. It has already begun to intervene in the country and offer as usual its interest. In my opinion, there should be no commissions.
Then everything will be cool)

I know everyone wants easy and free transactions dude, but we live in a different era now, all have to pay as well as payment
transactions, there will always be any a fee transaction you have to pay, and we should be reasonable with it

Suppose I pay tax on my crypto transactions, will the exchange be responsible for any lose like hacking? If the answer is no then I am not in favor of tax on crypto. I think that taxes are for the benefits of people and if there is no facility from the exchangers and controller then why they would impose taxes? I don’t understand this phenomenon.

taxes that we paid in exchange should make insurance for our fund saved in exchange wallet.we must get benefit from this taxes.if we dont get it, better for me to not paying taxes.

nightways

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Activity: 434

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Quote from: mornabo on June 28, 2018, 10:12:23 PM

Quote from: Vs225655 on June 28, 2018, 03:26:04 PM

As for me, no model is suitable. The first was bitcoin and his idea was quick payments and no deposit transfers. It has already begun to intervene in the country and offer as usual its interest. In my opinion, there should be no commissions.
Then everything will be cool)

I know everyone wants easy and free transactions dude, but we live in a different era now, all have to pay as well as payment
transactions, there will always be any a fee transaction you have to pay, and we should be reasonable with it

Suppose I pay tax on my crypto transactions, will the exchange be responsible for any lose like hacking? If the answer is no then I am not in favor of tax on crypto. I think that taxes are for the benefits of people and if there is no facility from the exchangers and controller then why they would impose taxes? I don’t understand this phenomenon.

changcloy

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Quote from: s0beit on July 08, 2018, 03:54:04 AM

Quote from: harastvo on June 23, 2018, 09:47:15 AM

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:

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.

What do you think about the taxation of cryptocurrencies? Which model fits best?

The government would be too rude if they're going to implement or out taxes on cryptocurrench because we all know that we aren't earning enough to sustain all our daily needs. Our income here is unstable so if ever they will do it, ut would be a big burden for us.

So true , if the government will be involve here I think crypto will get crazy due to we will be obliged to pay them even the profit we will get here is unstable and we do not know where our money goes if they will do it for good or they will just corrupt it.

Yohr87

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Before they put taxes on crypto currency make it first legalized Bitcoin you that it can used my mode of payment.

coynedterm

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Quote from: beej on July 08, 2018, 02:04:11 PM

We all have to get use to it, it seems it's a growing inevitability. Crypto is bound to be
taxed, it may already have been occurring somewhere today. Though I think it shouldn't
be but the widespread talk of full regulation will have taxes as an extra added bonus or
a set back to some supporters and investors. It's hardly crypto's next step to go forward.

It is your thinking that we should not pay tax , I mean Indirectly you want day that Cryptourrency should be free from.the tax system , but here you are not thinking about those factors which are necessary for the development of the country where you are living because there you will not remain but all types of the fascilties you need for the better future of.the generation .
So why you are thinking that it should out of the tax system .
And also here you can think that if it will be out of the tax then surely people wll.use it for the illegal purpose because in that way it will be fully out of the control .
So here it is much better that it is restricted to.use in controlled amount by the tax system .

beej

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We all have to get use to it, it seems it's a growing inevitability. Crypto is bound to be
taxed, it may already have been occurring somewhere today. Though I think it shouldn't
be but the widespread talk of full regulation will have taxes as an extra added bonus or
a set back to some supporters and investors. It's hardly crypto's next step to go forward.

Herbys

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If you are thinking about legalizing crypto currency, taxes are inevitable!

The question is only in the number and in percentage, of the volume of the cryptocurrency.

In the report of the European Government I propose to introduce a tax in the form of an identical investment in the financial sector.

pathapoddo

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CRYPTOCITIZEN $CCASH

Is it possible?? I don't think so. As it has no controller. Then how will government put tax on cryptocurrencies. And if it possible then it will be good for country.

Topic: Tax on the crypto currency! What do you think? - page 18. (Read 3481 times)