Taxation - page 2. | Bitcointalksearch.org

normensky012

newbie

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Quote from: brawdias on May 07, 2018, 11:52:30 AM

Crypto-to-fiat transactions will be subject to taxation in Azerbaijan, local news outlet Trend reported Saturday
https://cointelegraph.com/news/azerbaijans-taxes-ministry-says-crypto-revenue-is-subject-to-taxation

Do you think this has benefits?

Yes, to the government, of course, it's common sense. On the other hand, France lessen their tax to crypto capital gains from over 40% to 19%
This is good news for French people, they are becoming open and fair with cryptocurrency.

1Referee

legendary

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Quote from: neliawesome on May 07, 2018, 01:52:56 PM

Taxation of bitcoin means the government already accepted the crypto world its better than restricting or banning bitcoin.

It doesn't mean the government accepted the crypto world, but just that it updated everything to make it more specific. If you keep your taxation laws as they are and don't update them throughout the years, it will cause confusion amongst those dealing with crypto, and that confusion likely translates into less potential tax income for the government. It can be seen as smart marketing, especially with how this subject gains mainstream media attention.

I just don't understand why people keep seeing it as something new or bad, while in reality people have had to pay tax over their crypto gains for years already. Everything that involves fiat means you are by default subject to the related tax policies, which shouldn't be that difficult to figure out. It's the government's tool we use, so we pay them 'interest' for that. I can't wait for the moment we can put fiat aside, but this will likely take at least one decade.

neliawesome

jr. member

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Taxation on bitcoin within a country sounds unfair right but still we need to obey what the law is.Taxation of bitcoin means the government already accepted the crypto world its better than restricting or banning bitcoin.

carter34

member

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Such taxation means alot to the crypto world. If Azerbaijan succeeds in this pursuit, other countries will follow and this is great for digital currency.

amishmanish

legendary

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Such steps are pretty much welcome because categorizing bitcoin in terms of taxation gives legal identity to bitcoin as an instrument in the country's jurisdiction. This makes it easier for the fence-sitters to make their move. It can also attract some of the bigger investors who hitherto, would have been unwilling due to the uncertainty in terms of legal and tax implications.

Internet has been the great leveller for the world and a truly international community has developed on the web. With bitcoin becoming the borderless, internet money, this opens up opportunities for a lot of people in these countries which have till now, been pretty low on the international trade radar. It gives choice and power to the individual. One of the most exciting features of bitcoin.

fiulpro

hero member

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This has been already implemented in many countries and they are functioning well with it though in many of them the taxation is Preety unfair but one must understand that if it's getting accepted by the government it's something that they will do..it also means that it's taken as an important part of the economy as equal as other things .

I think it's important for It to be considered on a fair basis

brawdias

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Crypto-to-fiat transactions will be subject to taxation in Azerbaijan, local news outlet Trend reported Saturday
https://cointelegraph.com/news/azerbaijans-taxes-ministry-says-crypto-revenue-is-subject-to-taxation

Do you think this has benefits?

Topic: Taxation - page 2. (Read 229 times)