Bitcoin Forum

Economy => Trading Discussion => Topic started by: kubricktrader on September 29, 2017, 08:00:52 PM



Title: What region am I in when I use an exchange?
Post by: kubricktrader on September 29, 2017, 08:00:52 PM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?


Title: Re: What region am I in when I use an exchange?
Post by: DaMut on September 29, 2017, 08:41:07 PM
taxes ? as far as i know you do not need to pay any taxes if you're using their services,
most of traders did not verify their account to enchanted account and just use basic account.
you only need to pay the fees from selling or buying the coins/tokens.
for your reference go here :
https://bitcointalk.org/index.php?topic=1626124.0 [Question About Taxing]
in other word if you did not withdraw your money/coin exceed the limit and forcing them to block your account and asking your identity.
more likely you do not need to pay any taxes.
so far i do not need to pay any of these,but i do not know what will happen in the future.


Title: Re: What region am I in when I use an exchange?
Post by: LeGaulois on September 29, 2017, 09:16:45 PM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?

You are liable to the taxes of the country you are living in not the country of the exchange platform used

taxes ? as far as i know you do not need to pay any taxes if you're using their services,
most of traders did not verify their account to enchanted account and just use basic account.
you only need to pay the fees from selling or buying the coins/tokens.
for your reference go here :
https://bitcointalk.org/index.php?topic=1626124.0 [Question About Taxing]
in other word if you did not withdraw your money/coin exceed the limit and forcing them to block your account and asking your identity.
more likely you do not need to pay any taxes.
so far i do not need to pay any of these,but i do not know what will happen in the future.

You have to pay taxes in the life, no matter from where the income comes from
In the case of cryptos, you have to pay the taxes related to the profits you made. Now you can think no one will ever ask you to prove from where the money you transfer to your bank account comes from. And you will be wrong. If a day the taxes office ask you to justify the money what you will say? Cryptos? Let me tell you that you are responsible to keep records of anything you do with cryptos (what you bought, what you sold, and what you traded, where the money is coming from, where it goes and so on) and if you don't have anything t show you will be fucked hardcore


Title: Re: What region am I in when I use an exchange?
Post by: PokerDiceMan on September 29, 2017, 09:46:27 PM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?

you not pay tax fee trading in bittrex
withdraw fee or trading fee not about tax, but only income exchanger


Title: Re: What region am I in when I use an exchange?
Post by: zzSunZZ on September 30, 2017, 12:27:15 AM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?

you not pay tax fee trading in bittrex
withdraw fee or trading fee not about tax, but only income exchanger
Bittrex is a international exchanging company which mean they don't have to pay tax for any country or goverment at all. Fee's bittrex is some kind of fee for transaction to withdraw your money for the blockchain system and for who manage the withdraw bittrex's system. Anyway you will have to pay tax with real money soon.
VAT , special fee for Alcohols , car, etc......
So you only have to pay tax for Bitcoin when you're at the country which accepted Bitcoin as a legal method payment, and you have to pay tax for the purchase by Bitcoin. But here you are just trading with an international exchanger so that fee is not related to the tax.


Title: Re: What region am I in when I use an exchange?
Post by: nicster551 on September 30, 2017, 01:17:03 AM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?

you not pay tax fee trading in bittrex
withdraw fee or trading fee not about tax, but only income exchanger
Bittrex is a international exchanging company which mean they don't have to pay tax for any country or goverment at all. Fee's bittrex is some kind of fee for transaction to withdraw your money for the blockchain system and for who manage the withdraw bittrex's system. Anyway you will have to pay tax with real money soon.
VAT , special fee for Alcohols , car, etc......
So you only have to pay tax for Bitcoin when you're at the country which accepted Bitcoin as a legal method payment, and you have to pay tax for the purchase by Bitcoin. But here you are just trading with an international exchanger so that fee is not related to the tax.
Yes fee is not related to tax because the fee is for the transaction in order to maintain and secure every transaction in an exchange. Transaction fees is one of the way of the exchanger to gain a profit from their user's and maintain a good quality service.


Title: Re: What region am I in when I use an exchange?
Post by: herurist on September 30, 2017, 02:51:53 AM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?


I suggest you use local exchanger to support your activity and I believe there's no crypto taxes ( until now ) only transactions fees. Actually, you can use any exchanger depend your needed and private opinion, no one will stop you. Research first before using exchanger services, you can find a lot of information from their web or group. Be careful and have a nice day.


Title: Re: What region am I in when I use an exchange?
Post by: Boseda on September 30, 2017, 08:58:12 AM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?

You should pay taxes according to your country's laws. Exchange's based country is not a problem for you...


Title: Re: What region am I in when I use an exchange?
Post by: Carmen01 on September 30, 2017, 09:09:03 AM
I live in a tax free location. But Bittrex is in the US?

If a sell and trade crypto am I liable to the taxes of the country an exchnage is in?
no need for tax in bittrex but your going to pay the fees of the transaction and also in others trading site or in different wallet,i think government have the knowledge here in bitcoin but they dont know how to do tax here because the money is in different country they dont know who are going to paid like that for example here in the philippines we have wallet and we have transaction in different country like bittrex so who are going to paid the tax if the transaction is like this