I dont realy like bitcoins to be taxable because we are the one who worked hard to earn it and the government doesnt have any right to collect any amunt from us. They already applied stupid taxes on food and drinks included transport so I think that already too much of generosity from us.
People are very brave when it comes to declare they are not going to pay their taxes when they are posting here in the forum, but if the government finds out you are earning money through cryptocurrencies and decide to do an audit to you and they tell you that you need to pay your taxes or go to jail I will bet that most people will decide to pay their taxes. 
Topic: Tax on the crypto currency! What do you think? - page 27. (Read 3513 times)
For me it does not matter we pay taxes for Crypto money that we have, because if we have been charged to pay from Crypto that we have it means Cryptocurrency is official and legitimate in my country. I'm glad it happened.
I think it is fine if the governments want to apply the tax for cryptocurrency user so we don't have to be worry or afraid to use cryptocurrency. we need to obey the rule if we still live in our country because we don't want to make something bad for our life. with the tax on the cryptocurrency, I think in the future, the government will accepting cryptocurrency so we can use cryptocurrency in our daily life and who knows, with tax for cryptocurrency user, cryptocurrency will grow fast in all countries.
for ne taxes is good. because it help your country economy grow. taxes also make a public building to help people and assist them. taxes also use to pay our poluce , teacher , presedent and etc. without them the country will hard to stand. and if you pay your taxes you will also help your self
there is no VAT on crypto in Europe.Now i am going to enjoy one year crypto tax free until new legislation will be done
Current one was really awful it was possible to pay higher taxes than income from trading crypto
Current one was really awful it was possible to pay higher taxes than income from trading crypto
If the cryptocurrencies start to be taxed by the government I think it will lose it’s risky status. If governments start to tax these cryptocurrencies they will gain an official kind of status and will gain stability. Taxation will bring more safety yes but I think it will cause to lose it’s nature of risky investment.
As far as anonymity is concerned, this situation is absolutely impossible, but to think of today's stock exchanges, we want all kinds of documents, and so our wallet addresses are easily revealed. That is why it is now quite easy to follow the flow of money, but it is still not possible to follow anonymously held wallets. For that reason, we should take care to remain anonymous so that we do not get too attached to the taxation system.
In my opinion, this is a sensitive issue, of course I do not want that to happen and I think there will be others like me. Many governments want to intervene in the cryptocurrency market and they want to tax this kind of money. However, the essence of cryptocurreny is the freedom currency, no one can control and intervene them. If they are taxed I believe there will be a lot of opposition. This is just my opinion
In some countries you can't convert your fiat to crypto without proper KYC. So the Govt knows how much you have invested and how much you have lost/gained. You just have to pay taxes as per your income/salary slab if you have gained from it. It is as simple as that. Maybe not in all, but in some countries.
Already some countries countries around the world has begun to tax on bitcoin. As countries have begun to regulate bitcoin, taxing bitcoin can be expected throughout the world. When it comes to implementation it is truly hard to collect tax for bitcoin. Because countries which has already imposed tax on bitcoin has added bitcoin to the commodity segment.
Well if the government will implement a collection of tax in cryptocurrency we had no choice then but to pay.We are obligue to follow the law.Even if the transactions are untraceable it doesnt mean we can be free into it.For sure the government will make some actions on how to deal with it to collect tax.As of now it doesnt happened but who knows what happened in the near future.
Technically you should already be paying taxes to whatever income you are making in cryptocurrencies but it seems governments want to make paying your taxes a very complicated matter, this instead of being an incentive is going to create the attitude among those that invest in cryptocurrencies to not bother to do it and only try to fix things up if the taxman comes knocking at your door.
They really have a clear way to pay taxes through your income with cryptocurrency, with regards this thing it quiet complicated and people are still trying no to pay taxes. Its ok to pay taxes but make sure you are paying in the right governing body because some politicians are really corrupt, hope taxation will be good in the future with regards to this kind of technology.
Thank you so much about this topic. It help me learn about crypto and taxes.
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?
I dont realy like bitcoins to be taxable because we are the one who worked hard to earn it and the government doesnt have any right to collect any amunt from us. They already applied stupid taxes on food and drinks included transport so I think that already too much of generosity from us.
Do you see government support for all participants in the cryptocurrency market? What to pay tax for?
Precisely, what to pay tax for even government did support bitcoin as a currency to use. Some reason why some countries are quite on cryptocurrency because they know that this is not controllable with someone else and having a forcing to tax those who have earned in bitcoin. Well, to make this long story short luckily in my country did not implement a tax on crypto we pay tax when we buy goods using our money from bitcoin.
Profits tax would be appropriate in cryptocurrency.. I do care about my country’s economic future so if ever they impose or implement such law regarding the taxation and regulation of crypto investments then I’ll be open to such legal actions.. We as a bitcoin enthusiast must prefer a good relationship with our government to enhance our standing..
Laws are making our nations a better place and we should always follow it,, wholeheartedly..
Laws are making our nations a better place and we should always follow it,, wholeheartedly..
It helps to remember that taxes are one of the main reasons why wages are low, healthcare is expensive, economy and job markets suffer. A case could be made for taxes having many significant negative impacts upon civilization and society which do not outweigh any positive tangible benefits they provide.
If the US economy is doing well at the moment--its due to taxes being cut and a law being passed requiring 2 regulatory policies to be abolished for every new regulatory policy which is introduced.
Governments have tried to print, tax and spend their way out of debt over the past 3 decades. The ineffectiveness of these policies has led to both the USA and EU being trillions in debt. The ideal policy as far as job, economic growth and standard of living go could be to cut taxes. The improving US economy could be considered evidence that tax cuts lead to economic, job growth and prosperity while these attempts to introduce new taxes and raise taxes are poor policy as illustrated by the past 3 decades of poor economic growth and overall declining standard of living.
Crypto is better off unregulated and untaxed. Taxes collected from crypto will likely be redistributed to banks, large corporations like amazon and others who already receive unfair favortism or subsidies. There's no real benefit to taxation, while taxation does carry many negative maluses.
If the US economy is doing well at the moment--its due to taxes being cut and a law being passed requiring 2 regulatory policies to be abolished for every new regulatory policy which is introduced.
Governments have tried to print, tax and spend their way out of debt over the past 3 decades. The ineffectiveness of these policies has led to both the USA and EU being trillions in debt. The ideal policy as far as job, economic growth and standard of living go could be to cut taxes. The improving US economy could be considered evidence that tax cuts lead to economic, job growth and prosperity while these attempts to introduce new taxes and raise taxes are poor policy as illustrated by the past 3 decades of poor economic growth and overall declining standard of living.
Crypto is better off unregulated and untaxed. Taxes collected from crypto will likely be redistributed to banks, large corporations like amazon and others who already receive unfair favortism or subsidies. There's no real benefit to taxation, while taxation does carry many negative maluses.
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?
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?
Maybe there is a big chances or possibilities that its will implement worldwide by the world government,but before they can do that,they must create also a worldwide legalization of digital currency investment in order to protect the interest of cryptocurrency investment globally.actually being a regulated in terms of cryptocurrency investment is a big impact to the economy,because those tax we paid in our daily transaction in exchanges,the benefited is our country because its helps in making a good infrastracture project.
Having task is way better than being elligal I guess.
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