Topic: Tax on the crypto currency! What do you think? - page 21. (Read 3506 times)
I do not mind paying taxes in any way if only we will get protected by this bodies. There are too many people who are scammed always. The reason why linked tax paying and protection is that government will not just take tax from you if it is not regulating you. They will put in place measures to protect the inexperienced crypto user.
It would be fine for me to pay tax for as long as the rate would be fair enough, if we are not paying tax as of the moment it does not mean that we will never pay tax since the government will never let that happen so let us just accept it.
It sounds irrelevant that the governments are now looking after us and want to implement tax here as well. This is out of mind if something is not a part of asset then how can we see the implementation of taxes there? Cryptocurrencies are called currencies and not an asset just like fiat currencies so tax implementation is not possible here. So this is a currency and it is bad to pay tax on it.
It would be fine for me to pay tax for as long as the rate would be fair enough, if we are not paying tax as of the moment it does not mean that we will never pay tax since the government will never let that happen so let us just accept it.
It sounds irrelevant that the governments are now looking after us and want to implement tax here as well. This is out of mind if something is not a part of asset then how can we see the implementation of taxes there? Cryptocurrencies are called currencies and not an asset just like fiat currencies so tax implementation is not possible here. So this is a currency and it is bad to pay tax on it.
For me if crypto will be developing that fast like now it will be used like normal currency in future so goverments need to make some taxes cause people could just "escape" from paying them moving their money to crypto, that mean in future there will be special taxes for crypto in my opinion.
Cryptocurrency transactions are not subject to turnover tax. Turnover Tax, of the Directive should be interpreted in such a way that the exchange of a virtual currency for a conventional currency and vice versa and (fiat) currency exchange services are tax free.
Income in virtual currency is taxable similarly to income in conventional currency. For the purpose of taxation, cryptocurrency profit cannot be accurately tax. For every transaction there should be a valuable tax attached but are government really making use of this tax judiciously? If I have my way, I would rather prefer that such currency should not be tax in any way.
Income in virtual currency is taxable similarly to income in conventional currency. For the purpose of taxation, cryptocurrency profit cannot be accurately tax. For every transaction there should be a valuable tax attached but are government really making use of this tax judiciously? If I have my way, I would rather prefer that such currency should not be tax in any way.
For now, I do not think it is possible for the government to charge taxes bitcoin transactions. This is because transactions made using the blockchain technology is anonymous and not controlled or regulated by a body so as to know who and who made so and so transaction. The government knows that it can only trace transactions and not control it.
However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.
Nothing is impossible, the government always possesses a lot of talent, sof inding measures to impose taxes on bitcoin is only a matter of time, they will never ignore this great benefit, which will not fit their style. And my thoughts on this issue are probably that I do not want to have taxes, even I do not like taxes appearing on crypto, I'm earning income here to avoid tax but now tax still comes, it's funny, so if one day, the government can collect taxes from the crypto, I will be the first to stop this game However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.
I don't like to tax will be impose in cryptocurrencies and love this system to remain to be decentralized but since the scammers are growing continually I think to be under by the power of government can only be the solution and it is better to send some of my fund in government than sending it to the scammers not unless the scam issue will be solve.
For now, I do not think it is possible for the government to charge taxes bitcoin transactions. This is because transactions made using the blockchain technology is anonymous and not controlled or regulated by a body so as to know who and who made so and so transaction. The government knows that it can only trace transactions and not control it.
However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.
However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.
I possibly think that taxation policy should only be implemented it the government recognize it as legal tender and regulate it as use for payments same as fiat but the governments did not support it because they know they can't control it but can only trace the transactions.So why do we pay tax to them for such reasons.
There is a situation like this. If the state does not apply taxation, the gains are not legal. The state is trying to say that I can only accept it with the taxation option. This is actually more beneficial. At least we can legally continue this investment. If the tax rate is set so as not to force investors, it is a very reasonable way.
I think the government can not control the flow of cryptocurrency. to be able to calculate taxes accordingly. So to collect taxes on cryptocurrency is not practical. But if through the trading floor they can also control. Currently no trading floor is controlled by the government. If the government collects Bitcoin taxes in the future, I will always be willing. Taxes help my country better.
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
If it was created to protect the interests of the investor, I would love it. But in the current market it is difficult to control and collect taxes.
I dont mind paying taxes as long as I earn a big sum of money. But let's pray and hope that we wont have to pay it in cryptocurrency. If it happens theres no difference in using crypto and fiat. Tax is the main reason of some people who adopted crypto. Although taxes are spent for our benefits we cant deny the fact that there are high ranking officials who are abusing their powers and stealing from us through taxes.
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.
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
It is a good point of view, but not all governments are responsible. In many countries or corruption inside the system, so if you pay tax that money goes to the pocket of some politics. It's very pity, as for me.
If there would a concrete, transparent central regulation on earnings from crypto, and they would not want to take away third of the profit, I would say I pay them. Better to be clean and do not have to worry as long as rates are not unreasonably high...
Governments are already aware of how much people might get from crypto, it is big, that's why government have interest to take some of it. Actually, there is no problem with that unless they take those taxes for the seek of their own interest and not for the benefits of the community. People get worry with that event and seems unreasonable act of banning crypto in some country as the contrary of their actions. 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:
If they are going to start charging tax for the use of Bitcoin, then it’s no longer Bitcoin we know, and such a thing can never happen unless the individuals decides to hand everything over to the government. Every transaction that is being made from any country, the government of that country will charge tax for it. - 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.
They won’t just charge it direct, exchangers will be the ones charging it or maybe they will include a percentage of the government in mining fees. Not a good idea for me.
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
In my own opinion, cryptocurrency should not have any taxes because the people who are investing cryptocurrency are already paying transaction fees in order to transfer their coins to another wallet.
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 themJump to: