Topic: Taxes on Bitcoin (Read 10930 times)
Right now most governments are in an awkward position, they want taxes of course from everything but they can understand or legitimize BTC so easily, so they have some really complex guidelines about earnings in general etc. When they finally accept BTC for what it is, a currency and a store of value they will regulate and impose taxes
I can tell you what's the case in my country and I'm sure it applies similar in the other countries. As I said in the previous post, in my country you should report every kind of earnings from online sales, google ad revenue to bitcoin obtaining like mining and getting payed like in signature campaign, but rarely anyone does it, maybe even no one but that's the law haha. As I said, that's the deal in my country and possibly mostly anywhere else.
btc is the best way to escape from paying taxes
I assure you that every BTC Tx in the U.S. is now being watched. In the next few years there will be a lot of people in court who thought as you did. Your going to turn your profits into profound losses.
btc is the best way to escape from paying taxes
I have been dealing in bitcoin for quite a number of months now, and I am not bothered about the tax implication because there is no category of income tax that I can say income from bitcoin falls into, although this is largely due to my country of residence but I believe as we have more infrastructures and enabling environment then things might not be the same but until then, I still have to do with my tax free income.
Hi Everybody,
When getting Satoshi/Bitcoins from the internet in general, could you please tell me whether you have to pay tax to the country you get them from or do you just pay taxes to your own country?
Thanks for your help.
When getting Satoshi/Bitcoins from the internet in general, could you please tell me whether you have to pay tax to the country you get them from or do you just pay taxes to your own country?
Thanks for your help.
It depends on where you are staying. Currently, in my country we don't pay
taxes for bitcoins. I only convert bitcoins to my local currency. Our country
has not yet made a move to officially define the legal status of Bitcoin.
So currently, I'm not paying any, but if our government says that we
need to declare or pay taxes, then I will obliged.
i think if government is involving in bitcoin industry then maybe there are any taxes for using bitcoin but i don't think bitcoin user want to pay taxes because bitcoin itself is not controlled by government or the user. so maybe we only pay taxes when we want to make deposit by buying bitcoin and we sending our money into third party and it should have taxes or fee that we should pay.
The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??
no that is the "taxes" that go to miners, your government have nothign to do with it, you need pay an additional tax when you dump for fiat
but if the amount is not that big, i would avoid declaring, it also depend on where you live
Ya you are right, only the selling of bitcoin to fiat currency and buying to fiat currency is to be shown in the tax. i am from india and their is limit of below 10lakhs to not to show the trades in tax but even if you want you can show as short term income through trading.
The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??
no that is the "taxes" that go to miners, your government have nothign to do with it, you need pay an additional tax when you dump for fiat
but if the amount is not that big, i would avoid declaring, it also depend on where you live
Ya you are right, only the selling of bitcoin to fiat currency and buying to fiat currency is to be shown in the tax. i am from india and their is limit of below 10lakhs to not to show the trades in tax but even if you want you can show as short term income through trading.
Not only in India even in my countries the government will provide some set of rules and regulation, if they cross minimum level they need to pay taxes. Every countries has different set of rules according to their usage when they are converting from bitcoin to fiat currency and when they are converting from fiat to bitcoin.
The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??
no that is the "taxes" that go to miners, your government have nothign to do with it, you need pay an additional tax when you dump for fiat
but if the amount is not that big, i would avoid declaring, it also depend on where you live
Ya you are right, only the selling of bitcoin to fiat currency and buying to fiat currency is to be shown in the tax. i am from india and their is limit of below 10lakhs to not to show the trades in tax but even if you want you can show as short term income through trading.
The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??
no that is the "taxes" that go to miners, your government have nothign to do with it, you need pay an additional tax when you dump for fiat
but if the amount is not that big, i would avoid declaring, it also depend on where you live
Hi Everybody,
When getting Satoshi/Bitcoins from the internet in general, could you please tell me whether you have to pay tax to the country you get them from or do you just pay taxes to your own country?
Thanks for your help.
When getting Satoshi/Bitcoins from the internet in general, could you please tell me whether you have to pay tax to the country you get them from or do you just pay taxes to your own country?
Thanks for your help.
Well it really depends on the country bro! but really some won't accept tax if you get bitcoin from another country because they actually they don't support bitcoin or they are not fund to bitcoin so they just let it slide for once's and go with the main earning the money in the real world and other countries accept bitcoin as a tax like america they really support on bitcoins and you got a tax if you get or pay bitcoin in america but really other countries think that bitcoin is not for taxable >.<
New stuff like bitcoin will be taxed, the government can't miss the money that they can collect. Also tax is nothing but to get money for the government, so they will do the best to get as much as possible.
See what every currency we are using either bitcoin , USD, EUR etc on every transaction we have to pay taxes on them. But i hope government will not charge any taxes on minimum transaction, if they do bulk transaction and if they reach to minimum amount than he need to pay taxes on using it.
The mining fees paid during transactions are the bitcoin taxes or there are other taxes ??
New stuff like bitcoin will be taxed, the government can't miss the money that they can collect. Also tax is nothing but to get money for the government, so they will do the best to get as much as possible.
In order to use bitcoin wisely we have to pay taxes on bitcoin. As long as we are paying taxes on bitcoin we will be in safe because even though bitcoin is not legalized we are paying taxes to government. Definitely you can still make more through bitcoin.
Tax should be paid to the country from where we are getting from it!! As tax is being paid because we are using the things or facilities of provided by the country for our sake. so as we are using the coins of that country so the tax should be paid to that country.😊
No, taxes should be paid to any country where they are legally accrued. I live in the U.S., but if I sell something to another country I could potentially owe taxes there, even though I am not benefiting from the public works of that country.
Theoretically yes, but if I sell bitcoin in another country while living in US, that means that I want to avoid tax, and there's no way for IRS to know that unless the foreign exchange will report it which is not the case.
IRS has more ways of tracking things down than whether transactions are reported to them.
Tax should be paid to the country from where we are getting from it!! As tax is being paid because we are using the things or facilities of provided by the country for our sake. so as we are using the coins of that country so the tax should be paid to that country.😊
No, taxes should be paid to any country where they are legally accrued. I live in the U.S., but if I sell something to another country I could potentially owe taxes there, even though I am not benefiting from the public works of that country.
Theoretically yes, but if I sell bitcoin in another country while living in US, that means that I want to avoid tax, and there's no way for IRS to know that unless the foreign exchange will report it which is not the case.
Here taxs have to be paid if you are making profit with buying/selling. But if you spend a bank transfer to an exchange and then sell some day later for paypal, withdraws to a credit card, sell to a friend for a SEPA, then you are safe 
It is impossible for any gov't to tax bitcoin.
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
They are taxing it actually, IRS at least is doing it without problem, but it always be true that there will be evasion, but this has nothing to do with bitcoin, fiat world is full of evasion also
from the moment you convert in fiat your traced and therefore taxed if the sum is big enough, i guess for meaningless amount they don't care and probably don't search either, there must be a filled that give them a warning under a certain threshold
It is impossible for any gov't to tax bitcoin.
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
Spoken like a true immature idiot. Have fun going to jail
It is impossible for any gov't to tax bitcoin.
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
That is the reason why it was decentralized in the first place.
So no one owns it and no one party can tax on it. Period!
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