Bitcoin Forum

Since it is in fact law.. i am curious how many of you have or not.

..feel free to vote if you have the balls  :D

Interesting topic :D. I voted :D.

Well i know for a fact you are SUPPOSE to be paying the tax on your profits on exchanges if you are Canadian or American and possibly other places.
So.. do you ?

I voted NO because i quit trading when i heard the law implemented in Canada. (2013)
I have nothing to declare ever since then.

I see random comments from people praising the tax free benefits about this shit.
Just bear in mind you are not "free" and you are not in the clear either.

What many of you do is in fact criminal.
This shit is not legit and the cops are coming.
I warned you lots before.

Coinbase was being sued by the IRS for mass records ..why ? (Coinbase recently won)
Yet that did not stop them from helping the US authorities to catch Artem the owner of KickAssTorrents.
They were more than happy to rat him out behind closed doors.
So you guys need to be aware if the IRS or Rev-Can contact an exchange and ask for your records you could be in a fuck load of trouble.

It was the Tax-Man that took down the untouchable Al Capone.
And boy do some of you need to be taken out at the knees.  :D

REF:
http://www.coindesk.com/irs-bitcoin-tax-guidelines-mean/
http://www.coindesk.com/canada-revenue-agency-tax-rules-apply-bitcoin/

No,bcs there is no law in my country.I even went to tax department and they didn't know wtf I am taking about

No, and I don't think I should. Not yet.
The tax institutions in my country are pretty retarded. They are in 19th century still. When they'll evolve, they may ask me about this and then I will obviously pay. But until then .. why wake them up, I'd just make the monster angry. And that could turn against me.

Yeah, also we talk here about pretty small amounts, that's maybe another reason I am still "cool" about this issue.


If Bitcoin gets regulated in my country and I know I have to pay (and how much) then I will clearly comply.

I have, bitcoin.tax is an excellent platform to use. I mostly spent bitcoins using my coinbase shift debit card. I was testing the waters.
   I bought some pizza and a videogame. Then took around $40 out of an atm. I filed using taxact, they allow an import option for .csv files. I haven't had any taxable gains/losses as of this year yet. I'm sure it's only a matter of time though.

Not yet, will have to declare a lot for the 2017 tax year though.  We are all going to have to pay up eventually, it would be better to go to the IRS first and say "hey I owe you guys money, here" than it would be for the reverse to happen.  Anyone that plans on avoiding taxes forever is walking into a world of hurt, seriously I'd fuck with ISIS before I fuck with the IRS.

In most of the countries they don't even recognize bitcoin so it isn't taxable even. I don't know what I would do if it was. Probably I wouldn't like to pay taxes as I see everyday how rich people avoid taxes using their firms. I don't gain much for taxable gain limit anyways.

no lol, there is no law that said that you must pay anything if you don't exchange your altcoin, i'm not exchanging for now and i don't need to pay, but if i need to exchange a small amount i would probably not pay either, for bigger amount it's different

I'm not sure 100%, but in the US, I believe withdrawing Bitcoins gained from trading/holding would qualify as capital gains (and losses) and are subject to the same taxes as other investments.

I voted No because over here, government is yet to take a position on how to handle the issue of crypto currency but I am sure that in few years a position will be taken. I am not going to evade tax because I know that is illegal but for now, I and others in this part of the world will have to keep enjoying and if at all they want to do a back-duty investigation, its most likely to be a civil case rather than a criminal one.

In Canada you pay capital gains which means first 50 percent of profit is not taxed. The second 50 percent is taxed at your highest rate. If you have RRSP contributions from past 7 years good to put that second 50 percent into an RRSP and pay no taxes for now.

Tax is theft. Fuck you and die!

I'm not gonna pay tax for bitcoin transactions/earnings. It has no link to centralized system and government can't take a shit from me.  ;)

If the government has the balls, they can come over here and see what's gonna happen.  :-*

What's gonna happen if they come over there?

The op really is a low life bitter little man. Seriously what is wrong with you?

The government will find out that he no longer has bitcoins at that address because of his foresight to transfer it to another altcoin. So the government will be wasting their time.

Hell fucking no!!! My country is so fucking corrupt and dont support the working class anymore, so why the fuck would i give them money??

in my country , taxes pay you! but seriously, do you have to pay taxes if you lose too!? I hope not, because I cant afford it ::)

Nah, you pay taxes based on net gain (deduct losses).

yes of course I paid all my taxes and then I also hold Monero

monero is a very nice coin, it's the only anonymous cryptocurrency :)

and you can use it with xmr.to or shapeshift

Still very early in most countries, to be included in overall income.

Oh yeah ?
If you used Poloniex then yes US tax law applies.

@Fatoshi
You are an insulting little NOOB nobody aren't you ?
Tell me again why i give a fuck what you think ?
And what is it you have EVER contributed to crypto ?
Seems to me this topic upsets you.
It also seems to me i am the only one talking about this issue.
And i was nice enough to post you all 2 links with a reference to tax guidelines you can use.
You are welcome.
I may have saved some of these guys from being in trouble with the IRS or REV-CAN.
This bothers you somehow ?

I would not screw with the Tax Man.
They get you eventually.. they are diabolical.

Who else has something interesting to say around here anyway ?
Head in the sand much ? Dwelling on ICO profits with every single mutha fucking tiring boring ass topic here ?

Thankfully no, there are no taxes at the moment for anything in the place I live in. Though, I've heard they are going to introduce something called as VAT (Value added Tax) which is going to be applied on various good and services. I hope cryptocurrency's are exempted from this though.

Enjoy your prison time.

There's no tax in crypto-currency. Government don't help us when we lose money so why should they take profit when we earn money? There's no logical reason. They can't regulate this business, they need to get used to it. I don't even think our government know about Bitcoin and crypto-currencies at all.

It is better that you consult a tax attorney if you are not sure about it, if you are a small fish  the taxman may delay a visit for a while but if you have earned huge amounts of cash then you can be sure they are gunning  after you and your profits.

So handing your picture ID to trade on a US based exchange exempts you from paying tax if you are not  American?

LOL sure ::)

And there is no tax?
I posted proof for 2 countries and I know there is more.

And oh boy do I love the defiant childish little rebel brat attitude.
Little shits hiding behind a forum squaking that I don't have to pay tax.
ROFL
You brats would fold like a lawn chair when the IRS shows up at your door.

Story time for investards....

I once got a bill I knew I did not owe from Revenue Canada.
I was told to submit records and my debt would be cleared.
I did but they still came after me for the money..
I found out the hard way after time went by and they kept charging me penalty fee's.
I got a letter in the mail saying effective immediately they were garnishing my wages at my job.
They did too.. Then I quit just to avoid them taking my money.
Later when I did my taxes they took my tax refund as payment.
There was NO escape.
The amount was originally around $350 I think.. In the end I ended up having to pay by force more than double.

Feeling mighty cocky talking shit about taxes on a forum?
Like AL Capone.. The untouchable.. You too can rot in a jail cell.
Or like me get your wages garnished randomly.

Let me know how that cocky smug little brat attitude works out for ya.
Send us all a post card from alcatraz little shits  :D