Two things are certain: Bitcoin and Taxes - page 4.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Quote from: bitkilo on August 30, 2016, 10:29:55 PM

Quote from: eternalgloom on August 19, 2016, 05:50:13 AM

Quote from: bitkilo on August 19, 2016, 01:33:14 AM

They used to double tax bitcoins where i live, 10% when purchasing and another 10% when selling. I'm glad the government changed that stupid law.

I get paid a percentage of my wage in bitcoin and nothing has changed from when i used to get paid completely in fiat, still running on PAYG (pay as you go tax)

Where do you live? That seems like something that could be avoided pretty easily and I've never heard of a law like that.

I am in Australia and the law was not that easy to get around in the start, all exchanges operating here charged the customer a 10% gst tax when they purchase coins and unless you did a p2p trade via localbitcoins or something you would have to pay the 10% tax to sell those coins also.

Damn that is robbing people already. Too high to pay. That is like letting people know to not use it. Is this some kind of a movement for making it fall?

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Quote from: eternalgloom on August 19, 2016, 05:50:13 AM

Quote from: bitkilo on August 19, 2016, 01:33:14 AM

They used to double tax bitcoins where i live, 10% when purchasing and another 10% when selling. I'm glad the government changed that stupid law.

I get paid a percentage of my wage in bitcoin and nothing has changed from when i used to get paid completely in fiat, still running on PAYG (pay as you go tax)

Where do you live? That seems like something that could be avoided pretty easily and I've never heard of a law like that.

I am in Australia and the law was not that easy to get around in the start, all exchanges operating here charged the customer a 10% gst tax when they purchase coins and unless you did a p2p trade via localbitcoins or something you would have to pay the 10% tax to sell those coins also.

bravehearth0319

hero member

Activity: 1022

Merit: 500

Quote from: machinek20 on August 18, 2016, 08:18:07 PM

I think you have a great point, sooner or later the government is going to charge us with bitcoin tax, that is the reason there are a lot of the user dont want the government to interfere with bitcoin, but sooner or later the rules is going to happen, let just see when and how is the regulation

I agreed, Since Bitcoin growing everyday it can't be stop by anyone neither the goverment of each country can't control it, that's why in the last they will adopt the bitcoin system has because the community grab the advantage of it. I think that's the right time for them to apply taxes to all bitcoin users, but not now, it sooner or later.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: shinratensei_ on August 24, 2016, 06:45:06 PM

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

I think so too, if the government accept bitcoin then it’ll bring both good news and bad news. The good thing is that bitcoin will become more popular and more well-known to the people and they might start using it but the unpleasant news is that the government might put some taxes on bitcoin and it’ll cause some serious problems.

However, it’s mission impossible for them to give taxes at least with nowadays technology so we don’t have to worry much about this.

takingthis4

sr. member

Activity: 504

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Leonard2016 on August 24, 2016, 09:32:42 PM

Quote from: madwica on August 24, 2016, 09:27:10 PM

Quote from: shinratensei_ on August 24, 2016, 06:45:06 PM

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

Agreed it is not impossible that government will be accepted and impose tax every transaction of bitcoin but this is not good for the users of bitcoin because as of now we are happy to use bitcoin without tax incurred in every transaction while if government take advantage to impose tax in bitcoin i think we can not enjoy the rebates in every transaction we made.

they can never impose taxes for "evert transaction" of bitcoin. for that they need to know where every transaction is coming from and where it is goind. they can only take taxes from the businesees and that is all.

thats true, bitcoins will never have any taxes to be honest, in my opinion thats why it is such a great currency

davis196

hero member

Activity: 3150

Merit: 937

Quote from: Sir Alpha_goy on August 18, 2016, 06:47:45 PM

I doubt many of you care at this moment what Bitcoin is capable of achieving.

Most likely one of the most efficient automated taxation schemes on planet Earth.

I believe many of you gamblers and builders of the Bitcoin ecosystem haven't paid a dime yet to any of your local governments (that require them).

It's starts with voluntary taxation (exchange fees and transaction fees) but just wait until just the right "Federal Reserve" type coin gets released and fully adopted.

Then be prepared to repeat history as you breathe life into the new "State of Government".

Easy money comes at a large price.

Nothing in life is free.

Are you ready to sell your seed right up the river?

So quick to lay a brick on a building that should be condemned?

WHEN LARGE FINANCIAL INSTITUTIONS ADOPT BLOCKCHAIN TECHNOLOGY IT IS BECAUSE THEY SEE ABSOLUTE UNTESTABLE POWER.

The animals start the engine and then they show the world how bad you are mucking it up then they take it over.

It's that simple.

Bagged, tagged, and taxed.

I don`t see where is the problem.Everyone has to pay their taxes.

If you earnings are in bitcoins,you have to pay taxes.Bitcoin is not tax free.

I`m not ready to sell my seed right up the river. Grin

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

Quote from: Barbut on August 25, 2016, 02:55:06 AM

I'm reading this and in case that governments really start to tax bitcoins, can we start to use other crypto currency? Or OP thinks that governments and big companies will tax entire blockchain technology?
I'm not sure when something like this can happen, I'm sure that governments are thinking about how to get into blockchain, but for now they are on a side just watching.

They wil not going to tax bitcoin directly that you will received but rather the exchanger whenever you will convert it to fiat or going to buy some that's why legit exchanger have some fees especially the local one registered to respective country.

Since the service is about money changing or anything involved about money, they must comply with the regulations and law.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

I'm reading this and in case that governments really start to tax bitcoins, can we start to use other crypto currency? Or OP thinks that governments and big companies will tax entire blockchain technology?
I'm not sure when something like this can happen, I'm sure that governments are thinking about how to get into blockchain, but for now they are on a side just watching.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: Leonard2016 on August 24, 2016, 09:32:42 PM

Quote from: madwica on August 24, 2016, 09:27:10 PM

Quote from: shinratensei_ on August 24, 2016, 06:45:06 PM

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

Agreed it is not impossible that government will be accepted and impose tax every transaction of bitcoin but this is not good for the users of bitcoin because as of now we are happy to use bitcoin without tax incurred in every transaction while if government take advantage to impose tax in bitcoin i think we can not enjoy the rebates in every transaction we made.

they can never impose taxes for "evert transaction" of bitcoin. for that they need to know where every transaction is coming from and where it is goind. they can only take taxes from the businesees and that is all.

How can they impose a tax on anonymous thing, maybe for some platform that require its client to comply with the KYC policy has a chance that its clients will be impose a tax due for every transaction. The government will impose tax if possible as that is their goal to increase tax collections for the country.

groll

sr. member

Activity: 336

Merit: 250

Even if bitcoin is decentralized it does not mean that it is free of tax. When you exchange it to currency there is a certain fee and I think partbof it goes to tax. And I do not think the government does not know about it where in fact some banks here in our country supports and allow bitcoin teansactions. There is just certain fees but it was not that large. Otherwise they will banned it and stop the bitcoins if ever there is no return of benefits to them.

Leonard2016

hero member

Activity: 1036

Merit: 520

Quote from: madwica on August 24, 2016, 09:27:10 PM

Quote from: shinratensei_ on August 24, 2016, 06:45:06 PM

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

Agreed it is not impossible that government will be accepted and impose tax every transaction of bitcoin but this is not good for the users of bitcoin because as of now we are happy to use bitcoin without tax incurred in every transaction while if government take advantage to impose tax in bitcoin i think we can not enjoy the rebates in every transaction we made.

they can never impose taxes for "evert transaction" of bitcoin. for that they need to know where every transaction is coming from and where it is goind. they can only take taxes from the businesees and that is all.

madwica

hero member

Activity: 714

Merit: 531

Quote from: shinratensei_ on August 24, 2016, 06:45:06 PM

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

Agreed it is not impossible that government will be accepted and impose tax every transaction of bitcoin but this is not good for the users of bitcoin because as of now we are happy to use bitcoin without tax incurred in every transaction while if government take advantage to impose tax in bitcoin i think we can not enjoy the rebates in every transaction we made.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

it's not impossible but it's like a miracle for the government, and what a way of government for giving tax into the member always changes their address for every day or weeks? using bitcoin is a one-way making stupidity for the government. they can't give tax with as they want.

lister storm

hero member

Activity: 770

Merit: 500

Quote from: 2girls on August 21, 2016, 10:51:04 AM

I think Bitcoins has no taxes

well basically you are right in my opinion though if you buy something then you would still have to pay taxes such as vat and stuff like that

goinmerry

legendary

Activity: 2940

Merit: 1083

Quote from: diodio5 on August 24, 2016, 09:18:14 AM

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

Those greedy monsters will do something to create a tax. Maybe not now but they will specially when they see a lot of growth in price of bitcoin. They will make a law someday that will be about taxes when it comes to online currencies.

diodio5

hero member

Activity: 490

Merit: 500

Quote from: x|8y8|x on August 19, 2016, 02:32:58 AM

to me if state impose tax on bitcoin its mean that they have accepted bitcoin that will be really a good decision, and it must be in favour of bitcoin, through this bitcoin will become more popular in the people.

I think it is impossible for the government to be giving taxes to the bitcoin users. bitcoin users have many ways to avoid their taxes.
they can use a mixer so that they can not be detected by the government. I think giving ideas for bitcoin enacted tax is a strange idea

blackmachinegun

hero member

Activity: 532

Merit: 500

Quote from: densuj on August 20, 2016, 05:03:47 AM

At my country there are not yet rules for bitcoin and another cryptos coins, the users of bitcoin is still low too. I think it will need much time until the government take tax from bitcoin.

of course there are no rules or regulations governing that bitcoin users have to pay taxes on their fortunes in bitcoin. of course it will never happen. the government will surely find it difficult to adjust the tax financing of each user. because the government would not be possible to know how much wealth each user

coin_gambler

sr. member

Activity: 462

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: 2girls on August 21, 2016, 10:51:04 AM

I think Bitcoins has no taxes

of course bitcoins have no taxes if you send it without a fee though if you include it then you might need to pay some money

johny87

newbie

Activity: 38

Merit: 0

They are free to do so until the government legalize bitcoin and treat it as a currency, Then they can take taxes on it, IMO they shouldn't pay a dime until that is the case.

Digital_Lord

hero member

Activity: 1498

Merit: 502

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

Quote from: bitbunnny on August 21, 2016, 02:57:00 PM

Quote from: 2girls on August 21, 2016, 10:51:04 AM

I think Bitcoins has no taxes

That is true. So far you don't have to pay taxes on Bitcoin. At least not in my country. But they say that only tax and death areq certain, now someone has also added Bitcoin.

me too. I am also using bitcoin as a tax free currency. and I don't think It tax will ever apply on bitcoin.
bitcoin is a digital currnency. people will not even know who's have how much bitcoin. then how could govt charge tax on it.?

Topic: Two things are certain: Bitcoin and Taxes - page 4. (Read 7445 times)