Topic: Will Bitcoin transations be taxed in all countries in the future? (Read 331 times)
As far as i know, bitcoin is a decentralized digital coin, and no government can control it. so it means no one can ask bitcoin a tax.
January 12, 2018, 10:31:24 PM
Before a country requires the user bitcoin payments tax, first they should legalize bitcoin in the country and of course it will also be good news that more and more countries legalize bitcoin si more and more users in bitcoin.
But to give tax for bitcoin transations I think this will be difficult because it is very impossible to track every transations.
But to give tax for bitcoin transations I think this will be difficult because it is very impossible to track every transations.
January 12, 2018, 09:03:01 AM
Well we have no certainty about the future but in my own opinion Governments in all countries in the future has no possibility to impose tax in every transactions that is being done in bitcoin. First of all bitcoin transaction is anonymous that is why government will be hard for them to trace the transactions. In fact bitcoin is considered as assets or a source of income governments would no longer put tax on it.
January 11, 2018, 04:16:22 PM
Will Bitcoin transactions be taxed in all countries in the future?
I guess so if regulations has come up to this idea and transactions are also covered whether it will be inside or outside the country's jurisdiction, it's up to the government.And as there are countries that already banned bitcoin and if you are found to have some transactions with it or deal with someone, you'll definitely go to jail.
When other countries started to prohibit the use of bitcoin, some did followed but mostly didn't.
But when it comes to taxation, this is one of the kind and an exception and for sure others will follow when they have seen it's a good source of income.
And they keep on reminding their citizens that bitcoin can be used that way but if you'll try to understand the logic behind it. Since before fiat is being used through that concern and they can't even give a single solution on stopping those illegal activities.
Anyway, no matter what happens bitcoin will be taxed if a country starts supporting it.
January 11, 2018, 08:33:27 AM
If indeed in all countries will levy taxes from bitcoin transactions, no problem,
as long as the rules are clear, and bitcoin status in all countries legal
as long as the rules are clear, and bitcoin status in all countries legal
January 10, 2018, 10:44:37 AM
I don't think it will ever be possible for bitcoin transactions to be taxed in all countries, even in the future. Bitcoin transactions are done anonymously that's why it will be very difficult to trace those transactions. If ever they are going to place a tax on bitcoin, it should be on the miners or the bitcoin exchanges. Plus, third world countries (where my country belongs to) isn't even fully aware of what bitcoin is that's why it will be impossible for our government to place a tax on it. Also, a lot of people get away with not paying taxes in our country so this one seems to be far fetched from where I live.
January 09, 2018, 10:34:54 PM
It is said that Bitcoin should be regulated and even taxed, according to a European Central Bank (ECB) governing council member.
Will Bitcoin transactions be taxed in all countries in the future?
Will Bitcoin transactions be taxed in all countries in the future?
Tax collection? ...
We thought this might happen, but a European Central Bank (ECB) governing council member can not do it alone. It just means that ECB have to collaborate with other countries, so tax collection can be realized. Because if the ECB do it alone, then this will affect the exchange sites that are in their country. Certainly, European Exchange sites will be abandoned by their customers (both, buyers or sellers), as their customers carry out their transactions on overseas sites.
January 09, 2018, 07:00:00 PM
Of course BTC transactions could be taxed. In plenty of countries, properties, cars or gold transactions are taxed so it could happen to BTC too. The good thing is that there are many countries on this planet. If there's too much tax somewhere, you can always move elsewhere.
January 09, 2018, 03:04:42 PM
Will Bitcoin transactions be taxed in all countries in the future?
I guess so if regulations has come up to this idea and transactions are also covered whether it will be inside or outside the country's jurisdiction, it's up to the government.And as there are countries that already banned bitcoin and if you are found to have some transactions with it or deal with someone, you'll definitely go to jail.
When other countries started to prohibit the use of bitcoin, some did followed but mostly didn't.
But when it comes to taxation, this is one of the kind and an exception and for sure others will follow when they have seen it's a good source of income.
January 09, 2018, 02:56:44 PM
I doubt taxation of bitcoin and crypto currencies in general will be over the world. I think countries with weak economy will give to crypto currencies a green line and announce their territory as tax free place for crypto to take attention and to attract users, investors and other people to make them spend money inside of the exactly country. BTW Belarus recently announced that they plan to become such tax free zone and ICO welcome place. In the world there are more than 200 different countries and I guess it is going to be few countries like that kind.
January 09, 2018, 10:37:05 AM
Will Bitcoin transactions be taxed in all countries in the future?
I guess so if regulations has come up to this idea and transactions are also covered whether it will be inside or outside the country's jurisdiction, it's up to the government.And as there are countries that already banned bitcoin and if you are found to have some transactions with it or deal with someone, you'll definitely go to jail.
When other countries started to prohibit the use of bitcoin, some did followed but mostly didn't.
But when it comes to taxation, this is one of the kind and an exception and for sure others will follow when they have seen it's a good source of income.
January 09, 2018, 04:42:28 AM
Taxation cryptocurrency tax will not change the situation on the currency market. If taxes are high then the users will not to pay them. If taxes are low the state earns a lot of money. I think that for the state, higher priority is the preservation of the banking system.Therefore, it is more likely that the state will create the conditions for the destruction of cryptocurrency.
January 08, 2018, 08:33:17 PM
It looks like the tax applied is more precise for the incomes, not for the transactions I guess.
And I think nope, it's not would be applied for the all countries. Of course certainly there's the country that hasn't regulating Bitcoin or other crypto currencies, which's the government is not interested at all or still thinks that Bitcoin or crypto currencies will be harmful to the country.
And in the future for the countries that hasn't regulating Bitcoin or crypto currencies, it can be said to be a country that's left behind from the other countries I guess.
And I think nope, it's not would be applied for the all countries. Of course certainly there's the country that hasn't regulating Bitcoin or other crypto currencies, which's the government is not interested at all or still thinks that Bitcoin or crypto currencies will be harmful to the country.
And in the future for the countries that hasn't regulating Bitcoin or crypto currencies, it can be said to be a country that's left behind from the other countries I guess.
January 08, 2018, 05:32:15 PM
Eventually this is what will happen if we all want to use our bitcoin without the fear of getting arrested or prosecuted because as times goes on, the intensity of regulations will be high and the with government forces at her disposal, it might make it difficult to stay without violating the regulation which comes with a stiff penalty but the way out of this is for government to be able to ensure that taxes are being paid and with that, the individual paying the tax is known which covers the KYCs and more money in the pocket of government and its functionaries which is a better scenario that the other option.
January 08, 2018, 04:50:57 PM
Will Bitcoin transactions be taxed in all countries in the future?
I guess so if regulations has come up to this idea and transactions are also covered whether it will be inside or outside the country's jurisdiction, it's up to the government.And as there are countries that already banned bitcoin and if you are found to have some transactions with it or deal with someone, you'll definitely go to jail.
January 08, 2018, 10:37:33 AM
Will Bitcoin transactions be taxed in all countries in the future?
I guess so if regulations has come up to this idea and transactions are also covered whether it will be inside or outside the country's jurisdiction, it's up to the government.And as there are countries that already banned bitcoin and if you are found to have some transactions with it or deal with someone, you'll definitely go to jail.
January 08, 2018, 09:28:21 AM
I think the future will be taxed on crytocurrency transactions, not Bitcoin. Bitcoin is currently the highest value cryptocurrency so people only mention Bitcoin. Because taxing on such cryptocurrency transactions proves that it has been fully recognized.
January 08, 2018, 08:19:00 AM
It is said that Bitcoin should be regulated and even taxed, according to a European Central Bank (ECB) governing council member.
Will Bitcoin transactions be taxed in all countries in the future?
Will Bitcoin transactions be taxed in all countries in the future?
It highly depends on the country that you are staying together with its implemented laws about taxes. From what I know in the Philippines, mining bitcoin is categorized under our current laws as 'other income' thus making it taxable by the government. But if you earn bitcoin primarily from investments, trading, gambling, or even payments at campaign signatures, I do not think that the government has control over it. Due to bitcoin's decentralized nature, it may be very difficult for them to regulate these transactions especially with anonymity being a factor.
But who knows maybe in the future, they might produce a device that may track-down transactions per individual making those taxable.
January 07, 2018, 09:47:33 PM
If the government declared that bitcoin is officially our world currency and all of us are regularly use it as our mode of payment, thats the time that it can be maybe a subject for taxation. If the all the government and banks will declare that it is also a proof of income , then it is taxable.
January 07, 2018, 03:52:14 PM
Bitcoin should be regulated
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