Topic: Tax on the crypto currency! What do you think? - page 26. (Read 3513 times)
For me paying crypto currency tax is good because its mean that the investment is legal in which the government will oblige to protect us from scam projects, wallet stealing and other crypto currency related issues that will need protection from the government. Also our crypto tax will help our government economy to become stable that is why we are encouraging all nations to support crypto currency investments.
I think that if it would be operating and functioning properly, it is really a good thing to solve the problem with government, that if they would have some money taxed from earnings of the cryptocurrencies.
In my own opinion, governments who are planning to place taxes on cryptocurrency are just planning to milk those holders for money, government is already wealthy enough to sustain the economy.
That will definitely happen like once they smell money to something they'll make sure no one can't be exempted to this. However, government haven't acknowledge cryptos as another currency so there's no way for now to be tax by government. Besides, I don't want to make the rich more richer so please spare the cryptos for everyone's sake.
Cryptocurrency to Cryptocurrency should not result in an immediate capital gain, that's literally how they tax the fuck out of you. Then you have to sell back to said currency then to USD just to realize profits on these extremely volatile assets.
I'm perfectly fine with bitcoin being taxed as a currency or an CGT asset.
However, some countries previously or still are currently classifying bitcoin as a good, and charging VAT on purchases of bitcoin. This I don't think is anything logical by any means. Firstly, bitcoin is not a good or a service. By having this VAT on bitcoin, it also means that people have to pay extra on their bitcoin purchases over the market rate, which is obviously bad.
I think that a combination of these tax rules will make sense. For example, income received through BTC can still be taxed as income tax. I think that as adoption grows, these tax rules will mature as well with specific guidelines which is not the case yet.
Although it sounds weird. because after all decentralization and anonymity will not be suitable for taxes. because many people may However, some countries previously or still are currently classifying bitcoin as a good, and charging VAT on purchases of bitcoin. This I don't think is anything logical by any means. Firstly, bitcoin is not a good or a service. By having this VAT on bitcoin, it also means that people have to pay extra on their bitcoin purchases over the market rate, which is obviously bad.
I think that a combination of these tax rules will make sense. For example, income received through BTC can still be taxed as income tax. I think that as adoption grows, these tax rules will mature as well with specific guidelines which is not the case yet.
be cheating. but I myself agree with the taxes imposed by the government. it will bring bitcoin on legalization and higher position
I think that if it would be operating and functioning properly, it is really a good thing to solve the problem with government, that if they would have some money taxed from earnings of the cryptocurrencies.
In my own opinion, governments who are planning to place taxes on cryptocurrency are just planning to milk those holders for money, government is already wealthy enough to sustain the economy.
It is hard or impossible to put tax in cryptocurrency as transactions by certain individuals are hard to trace therefore it is hard to put a tax into it. Also if individuals are not declaring what they earn in cryptocurrency then they cannot be taxed as there are no traces of it this is why governments are afraid of cryptocurrency and some countries are banning it.
Tracing transactions is not the problem after all it is very easy to see where each coin goes thanks to the fact everything is in clear view thanks to the blockchain, a real problem is how the government is going to know that you are not sending that bitcoin to yourself because you want to change your wallet and an even bigger problem is how they are going to charge you taxes when they do not have control over the network.
It will be interesting to see how it's going to be in terms of taxation of Bitcoin.
You can do it through the exchanges, but not all the way.
You can do it through the exchanges, but not all the way.
Cryptocurrency actually is a tax free business, and there is no such implementation of government that cryptocurrency business is directly paying a taxes, however when every people that earns cryptocurrency like bitcoin and planning for changing into real paper bill, that's the time that every transactions will involves a taxes, so difinitely even cryptocurrency is a tax free but when converted into real money it involves big taxes.
I'm perfectly fine with bitcoin being taxed as a currency or an CGT asset.
However, some countries previously or still are currently classifying bitcoin as a good, and charging VAT on purchases of bitcoin. This I don't think is anything logical by any means. Firstly, bitcoin is not a good or a service. By having this VAT on bitcoin, it also means that people have to pay extra on their bitcoin purchases over the market rate, which is obviously bad.
I think that a combination of these tax rules will make sense. For example, income received through BTC can still be taxed as income tax. I think that as adoption grows, these tax rules will mature as well with specific guidelines which is not the case yet.
However, some countries previously or still are currently classifying bitcoin as a good, and charging VAT on purchases of bitcoin. This I don't think is anything logical by any means. Firstly, bitcoin is not a good or a service. By having this VAT on bitcoin, it also means that people have to pay extra on their bitcoin purchases over the market rate, which is obviously bad.
I think that a combination of these tax rules will make sense. For example, income received through BTC can still be taxed as income tax. I think that as adoption grows, these tax rules will mature as well with specific guidelines which is not the case yet.
I think there is always a tax deduction when we are changing from cryptocurrency to fiat. Any financial transactions come with taxation.
I don't think you tax crypto. But you can definitely make use of a transaction fee. And where will the tax go if there would be one?
It can if the Government wish to tax local exchanges and some major when you are cashing out to fiat that is a possibility and I heard some of the countries are starting to regulate cryptocurrency and the one step for this is to tax it and that would depend on their policy as to whatever they want to max out, I hope they don't abuse the regulation imposed to cryptocurrency.
Tax is very important in the development of every nation and every citizen of a country ought to pay tax. There is no doubt about this but the issue is, has the government provided any help to cryptocurrency. You know most governments fight against the idea of cryptocurrency. I really dont see the essence of me paying tax on the income I have made on cryptocurrency when my government if kicking against cryptocurrency. If the support is there, as a responsible citizen I will surely pay.
The public interest to invest in bitcoin increases as the price of the digital currency increases. Director of Counseling, Services and Public Relations Directorate General of Taxation Hestu Yoga Saksama also asserted the benefits of the sale and purchase or investment bitcoin is taxable income.
I think that if it would be operating and functioning properly, it is really a good thing to solve the problem with government, that if they would have some money taxed from earnings of the cryptocurrencies.
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.
Governments are not going to listen or care about our profit they will imply the tax which will generate more revenue for them. Over here in my country i think govt will put cryptocurrencies in capital gains section. Either way i just want it to be taxable as soon as possible so that these rumour games of crypto ban ends.
It is hard or impossible to put tax in cryptocurrency as transactions by certain individuals are hard to trace therefore it is hard to put a tax into it. Also if individuals are not declaring what they earn in cryptocurrency then they cannot be taxed as there are no traces of it this is why governments are afraid of cryptocurrency and some countries are banning it.
Taxes on cryptocurrency is important if we want cryptomarket regulated by government. I think tax the best model for taxation on cryptocurrency is from our profits or capital gain tax. Its more fair because we make profits and from that profits we paying tax.
While Tax is an important topic to discuss as of today, always keep in mind that governments will face a very hard time to collect taxes in future.
once you have money in millions, you will create your own wallet where you will store bitcoin; and not on coinbase
once you have money in millions, you will create your own wallet where you will store bitcoin; and not on coinbase
The world is setting off a wave of encrypted digital currency taxation!
The government may collect property taxes on cryptocurrencies. Tax authorities in many countries use cryptocurrencies as assets to tax them!
The government may collect property taxes on cryptocurrencies. Tax authorities in many countries use cryptocurrencies as assets to tax them!
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