Topic: Tax on the crypto currency! What do you think? - page 22. (Read 3513 times)
The taxes in crypoto currency when they have a crypto currency tax becomes legal in that country. Being legal many people ask what this is what many bitcoin become curious about when he knows how bitcoin gives big money to all users. Users having taxes may sometimes taxes become higher and may become fast as the government makes taxes.
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 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 really doubt why people won't understand that, knowing taxes will give help into the community improvement and additional income in our government. But we can't deny also, some authorities doing abusive way of collecting taxes from the people which could make them angry and don't wanting it happen in crypto.
Tax in crypoto currency when they have a tax the crypto currency is become legal in the country. Become legal a lot of people asking what is this what is bitcoin a lot become curious when he/she knows how bitcoin gives a huge money to all users. The users have tax maybe sometime the tax is become higher and maybe become currupt because government is making a tax.
A tax would mean everything in the cryptocurrency. If one of the tax that you have mentioned in there where to be implement in the cryptocurrency space, it would mean that the government is recognizing the usage of it and that they are telling the people that it's safe to use. I think Taxes on goods and services would be a better choice for the masses because as of now, we know that there are a lot of ICOs out there that gives so many kinds of services to the public. Taxes on this would mean that this things are getting serious.
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...
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.
I am only aware that my country would not put the tax that we cannot afford, because we had something similar with small business, when interpreneurs must pay the tax that they actually not always can afford.
Why not, its the great way to consider the bitcoin and other crypto currency as part of our real life products and services that we use. I guess thats the way to pretend all the crypto currency as real life thing and with the time it can be very general currency and its use will be accommodated likewise.
Thats the benefit of adopting these currencies for the purpose of legality status. This way both ends get benefited, the first we the investors get assurance of legal status and the second government who can get taxes on behalf of letting us use it.
Thats the benefit of adopting these currencies for the purpose of legality status. This way both ends get benefited, the first we the investors get assurance of legal status and the second government who can get taxes on behalf of letting us use it.
I think that there is still no and there can not be any tools for regulating and paying taxes for crypto-currencies. It's still early to talk about this, it takes more time.
Well some of the countries put one agency or bank on where they convert their bitcoin into cash by that they can collect tax to the users and the other government wants to happen is the user should declare bitcoin as an assets and by that they can see who are the benefactor of it but I know people would not agree on that plan. to redeem the bitcoin I change to the fiat currency, there is some percentage of deduction to be done. and when I transfer to the bank account number after I change my BTC assets to the fiat it is charged a few percent reduction. I think it's the same as the application of taxation so I think the tax system is running but there is no discourse in the government's explanation of bitcoin tax imposition.
That is a critical evaluation but in my opinion, we are going to pay even more than what you think. We pay the sales taxes if we pay for any good or service through Bitcoin but that is not just it. The government can also think about the progressive taxation on the money earned through Bitcoin. This is going to pain those who earn and have been holding their portfolios. But let’s hope the government does not do that.
If we want government regulating cryptocurrency, tax is can not avoided. I think nothing wrong if we paying taxes from our cryptocurrency trade. We creating profits and earn extra money and more confident with our investment.
If we are paying taxes on our cryptocurrency trade, thats mean cryptocurrency is legal commodities and legal to use for any purpose, its good thing for cryptocurrency communities
If we are paying taxes on our cryptocurrency trade, thats mean cryptocurrency is legal commodities and legal to use for any purpose, its good thing for cryptocurrency communities
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.
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...
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 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
If the government starts receiving bitcoin in the country, maybe they will make a law on bitcoin taxes. Because every bitcoin transaction happens every day and they will make such rules. Because every transaction that many governments will handle.
If bitcoin will legalized here in our country its ok for me if they taxed the bitcoin rather than they will banned it.we cant do anything about tax so will just follow the government.and i will.pay tax for my bitcoin.
I think if my country would put out the wise and regulative tax system for the hunters and traders, I would agree to pay that
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.
Taxes are good for the betterment of a country if not corrupted. It is okbfor me to pay taxes in crypto because of the benefits it can provide for my country.
I think it would be reasonable if we were protected by the government. We really need a change from Cryptocurrency. Fraudulent attacks and hacker attacks are increasingly commonplace. We need to be protected by the government to avoid these bad cases. If paying taxes to be protected from fraud, I fully agree.
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