Bitcoin Forum

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

Hopefully this info is completely valid and signifies that crypto is recognized there. the future of another country will follow in his footsteps
Taxes can also help the state treasury,

The application of taxes to bitcoin can monitor the circulation of coins and avoid abuse so organized

Yea, because governments are so starved of income and spend every penny like it's precious they need to more tax income.  /sarcasm

In 2016, federal and local governments in the United States collected an estimated 6 trillion dollars.  That number is so large our brains can't comprehend it so it subconsciously skips it.  If you earned $40,000 a year, it'd take 150 million years to accumulated that same 6 trillion.  If you stacked $100 bills they'd stack 3,780 miles high.  A 6-trillion second time travel would put us at roughly 180,000 BC.  

Just think, governments in the United Stated collected that in one year... AND they're still running a deficit.

https://www.usgovernmentrevenue.com/total
https://ihtd.org/festivalguide/resources/how-much-is-a-trillion-dollars/

Not only South Korea, even before that Israel made bitcoin to be an taxable asset making it fall under the commodities similar to the gold and other materials. Here the taxation was done based on the transactions that happens with relation to bitcoin and other related services opted with bitcoin. But this doesn't look that effective on functioning.

Makes sense for governments to finally tax bitcoin. Not only is it going to help with the illegal ways that bitcoin is being used, but it's going to legitimize the currency, stabilize it, and help mainstream it. I'm sure that Satoshi is going to be pissed, BUT for the purpose of making this a more accepted cryptocurrency, I think it's about time.

For truly anonymous crypto, that's where the altcoins will come in. No one is going to be able to track where these altcoins go and it will be the anonymous side of crypto.

Even if they somehow try to enforce this, it isn't going to be easy to tax bitcoin. But enough precautions I can easily send btc to anyone without anyone else know that I have seen it. This isn't very practical idea.

The only way that governments can tax it's citizens on bitcoin/altcoin is if they deem crypto's to be currencies or a store of value. That coupled with the exchange into the fiat is where they will get you on tax. If you find a way to interact and utilize the crypto's as they were inteneded, as currency, and not exchange for fiat then governments would have to expend too much energy finding out who is actually using them. AML/KYC is there to find out who has what and to be able to tax accordingly.

Taxing BTC by GOVTs is good for btc as it'll become legal for people to trade btc.

That would be problematic for those living there but it is healthy for bitcoin market and crypto itself. After this event, there is a probability that another country will set their eyes on bitcoin and crypto too, they will also seek to tax cryptocurrency transactions. Besides taxation, some countries also will seek to regulate bitcoin exchanges since it is a good tool for others to use for money laundering. The turn out of events right now is really interesting. South Korea taxing btc is a good proof of the growing mass adoption of crypto.

On taxation of the crypto currency, most likely, it is a question of charging the so-called profit tax when it is transferred to the money fiat. To recognize the crypto currency as a means of payment, such a tax, in principle, is necessary. Here the question is that the states establish a proportional amount of such a tax so that it does not drive the circulation of the crypto currency into the shade and that the state does not establish unnecessary and unjustified restrictions for the crypto currency.

As far as i can see the governments from each resoective countries are already starting to move towards bitcoin, because of its increasing popularity and prices, even though they know bitcoin back then they doesn't seemed to care because it was not that popular and super valued though, but now that they have been hearing it again and again they will probably make a move just to earn from it, and imposing taxes to each transaction is not too far to happen in the future, so as expected it will be imposed.

To trade BTC why Govt makes this legal I am not understanding. In my country it is illegal, but i am trading BTC.

The truth of the matter is Bitcoin is already taxed by law in all countries.

Its not a matter about taxing it - its a matter on how they can control and audit it.

Russia, with cryptorubels is smart - there attitude is "if you cant beat them, join them"

His plan is to create the cryptoruble so his government can control it.

If they can control it.... they can tax it.

I am waiting for more news.

Shit, it means there will be the two type fees.
fee for each bitcoin transaction and fee for using bitcoin.

Actually charging taxes to bitcoin and other cryptocurrencies is a good thing. Means, there's no hindrance on cryptocurrecy adoption. It will fuel the market to the higher level. This is a part of regulating cryptocurrency. Lets admit it. We cannot get away from our responsibilty. Tax is our resposibility. We are obliged to pay tax as a citizen. Some people are skeptical about taxation on cryptocurrency. I don't know why. Losing money? I don't think so. If this could solve the problem of cryptocurrency, why not? It is also to avoid problems in the future. It's better than this. Than ban it by tye government. That's sucks.

Sounds like good news to me, to be honest. My government is still not very clear on Bitcoin, so there is no tax on it. But if a government like South Korea taxes Bitcoin, this means they recognize it and therefore it is legal and proper currency. Is that not a good thing? As a responsible citizen, you should always pay income tax anyway. South Korea let people have Internet and knowledge and services to use Bitcoin. You owe it tax to help keep things running well.

If this will happen that the South Korean Government admits cryptocurrency as a tradable coin in banks including. That will lift a little bit bitcoin. Interesting perspectives, can't wait for it.

This should be one of the good news for bitcoin growth. Meaning, the government can not be dealing with bitcoin with a long spoon while intending to din with it - dinning with it in this sense I mean collection of taxes.

Where the South Korean government or any government for that matter intends to levy taxes on bitcoin means they are looking at control or regulations and regulation itself is approval - this is good  ;D.

Yeah, naturally income are taxed and thats called income tax. We waiting for more adoption via income tax.

That's not interesting at all. That is going to be our obligation.
The only thing is interesting that no one payed so much attention at bitcoin thill the price crossed 1000$ point.

For now it is impossible to happen, because bitcoin are decentralize currency from different parts of the world. However if the United Nations decided to under it by their supervision, it is high possible to impose taxes all income in crypto currency. Moreover gambling sites have a high chances to closed if they can't legalize due to this site are prohibited in some country.

This is what plays to my mind, adoption is good and legality of bitcoin too. But once the government starts to show it's support to bitcoin expect to it that they should benefit with bitcoin too and not only with it but as well as with other cryptocurrencies. I'm expecting it that bitcoin will be taxed, each transactions so in the future if majority of the countries are accepting and adopted bitcoin. We are not going to pay with the miners fee only but as well with the tax too.

Eventually governments will find a way to tax earnings in bitcoin and all cryptocurrencies, it is nothing to be amazed about. There is so much tax revenue that they are currently missing out on that it is inevitable they will find a way to get their hands on it.

If the county or government legalize bitcoin and accept bitcoin as part of the constitution ans institution then it is posible to be taxed, but for the people to giv there tax is inivitable since its up to the people to give tax to bitcoin. Maybe the government will find ways to tax bitcoin in the future, but for now lets just enjoy taxfree bitcoin.

In some places on the world bitcoin is already banned. The taxed bitcoin is very interesting idea for me. But for sure it is disadvantage for users and very profitable for goverment.If the goverment will support crypto a ilttle then we will be open for very tiny taxes i think. But goverment should propose us an offer instead. Bitcoin can be use in many ways we only need to pick the best one.

I do not think that it is so simple. i think that it can only be possible if the government will turn bitcoin as legal currency. without legalization of bitcoin, it is not so easy to find the way and put tax on bitcoin. as stage cannot put tax on such item which are not under law. they have to consider bitcoin as legal currency first and after that they may be able to put tax on it.

I think it is impossible that bitcoin to be taxed as long as the government not legalized it and recognized as state currency. Since bitcoin is for virtual or digital used putting a tax in bitcoin is hard to do by the government and the monitoring of each transaction is difficult for one state because bitcoin is invisible and illegal.

Well let wait and see how the events unfold as far as taxes on bitcoin in south Korea is concerned, may be the government is trying to improve their economy by generating more source of income through tax on bitcoin, be as it may bitcoin cannot be controlled I.e decentralized, then let wait and see how it's going to work and if successfull other countries too will follow suit.

Well technically bitcoin is not a official job that you can earn some real solid weager that can sustain life expenses , so I think that taxing bitcoin will took a major amount of money earned in bitcoin.

It is possible to happen if it regulated and mandatory demand by the government. Taking South Korea for crypto currencies taxes, is their options to generate income from large and fast growing currency today. And we don't know if other countries will follow then, but it is just an initial information, we need final confirmation for its execution towards crypto.

taxation will never work

dex will eliminate that idea

these regulators are fools

I have been thinking about this a lot recently and came to the conclusion that realistically, Bitcoin and cryptocurrencies are likely not going to be able to be taxed by governments. There is just too much to track and even automated systems will not be capable of reliably linking individuals to their addresses strongly enough to warrant claiming they need to pay tax. Virtually anyone could use a mixing service and pay 1% and launder their coins which makes taxing essentially impossible.

forget mixing - just use a privacy currency like monero or whatever.

governments are never going to be able to "clamp down" unless they go full on stalin nazi totalitarian asshole


they won't last long then - we'll see civil wars

If taxing Bitcoin and succeeding will remove every tag of criminality from it by some countries, so be it. We all bitcoiners should be in support of that. Let the government tax every transaction on the blockchain as that will act as an approval of the virtual currency. Taxing it also will further increase the awareness and popularity of Bitcoin. So, it's a good one from the Koreans.

Bitcoin gave us freedom, and governments want to take it away from us. I think taxing is a really bad idea, that will ruin all sense of bitcoin

the income tax for the work we live is a natural thing, but how the government imposes a tax on bitcoin, how they will find a way to do it will be difficult, we all know how the nature of bitcoin decentralization, bitcoin can not be managed by a country, but this is just my guess, every one of us want to exchange bitcoin into paper currency will be taxed for every bitcoin we exchange, whether like that

There is nothing wrong in taxing bitcoin and other related activities if there is need for the exchange site to continue operating and I see the exchange site acting as the tax agent on behalf of government who will deduct the tax element at the point of withdrawal either to a wallet or through fiat and thereafter remit same to government but the area of concern will the the amount of rate as well as modalities for such.

It all depend on the Government of each nation, some countries still don't think Bitcoin is money, so if it is classified like a commodity then that is a special treatment for Bitcoin and recently people even use BTC has store of value

If I think better because the security will be more stringent so that makes a lot of people become more comfortable at all times save a number of coins from irresponsible people.

It is far better to be taxed bitcoin than ban it. I think it is good news(not for the people who use it to hide tax). Banning bitcoin means banning our digital assets and put a criminal tag on us. But taxing mean validating our digital assets legally.

If more countries continue in their trend, then we will end up seeing a drop in price. The whole point of Bitcoin and it's usage for large scale traders and investors like whales is that there is no taxes and that it is decentralized. This is definitely not a great step.

According to my opinion the fans of bitcoin are increasing with a very high speed and now many people want that bitcoin acceptation start everywhere in their country for buying and other purposes and this is possible only when there is a tax held on bitcoin. Tax on bitcoin is good for bitcoin future and users of bitcoin but the amount of tax should be minimum so that it can’t burden on the bitcoin users. If this tax strategy was succeed then I think every person in the whole world will become bitcoin users and bitcoin will become the whole world currency.

If that really happens then bitcoin will add up more investors from Korea as they might be waiting for government regulators to be turned on. That's important for some investors because they are more or less very secure or protective about the investment.

Anyway that's about the new comers or pre investors. If government take it seriously that means we are actually getting added value to our coin. Hope to see this go in positive way.

I don’t think so that bitcoin may be regulated by any government because by feature bitcoin is decentralized cryptocurrency so in this regard imposing tax on bitcoin is impossible but in way government can collect tax from bitcoin earning when government impose tax on exchanges where bitcoin exchange into fiat.

It will be in favor of government to accept bitcoin being a legal currency in the country and then collect taxes from exchanges.

Well, they do it right, if the process can not be restrained, it needs to be settled somehow, including the tax. The profit from the most crypto currency can not be collected, but from the participants it is easy.

In order to use bitcoins each user must periodically change the coins for Fiat. Through these procedures, the government can always track bitcoin users. Why keep track of transactions? If you will be able to spend bitcoin without exchange we will be out of reach of the government and taxes we will not pay.

it means to be legalized, and also it can be good for all currencies for long term, btc is the biggest opponent of the banks, eqiuvalent governments, so it will be, and it will be good i guess.

It was inevitable, cryptocurrency is becoming the new trend for digital payments worldwide, and bitcoin is the biggest threat to banks so no wonder the govt wants to find a way for bitcoin to be taxed. They always want to generate more income from new commodities. But at the end it's all about how they implement it and how it is received by the public, but if they do it right, and the govt supports the idea of implementing bitcoin as legal way to pay for day to day stuff,  then this could be what bitcoin needed as it would bring awareness to society about cryptocurrencies.

There is not a problem for bitcoin to be taxed but I doubt if they can really tax it fully or not. For sure there will be some way to evade tax even if it is decreed by the law to do so. Still, I do not mind paying tax to the government on cryptocurrency trading so long as they make it easier for us who use it to convert bitcoin into fiat anytime or vice versa. This thing is bound to happen sooner or later though in some countries and I expect it to be implemented soon not just on South Korea.

Yes it is. Aside from that taxes will serve as our individual contribution with our country due to the fact that it is the one of the great way for the development in each country , this is just a behind the scene contribution of bitcoin of the growth and development of the world and I think also to lessen poverty.

If we do really try to realize on how bitcoin is a decentralized stuff then there no way that it can be taxed directly this is why they would decide to impose law or implement tax on those services which do make use on bitcoin and other alternative currency because if we do talk on direct tax then its not possible but on indirect thing then it would really be implemented but for its citizens there would surely one who would evade to pay up for sure.

I will fulfill the responsibility, if bitcoin is taxed.

Yes, the users of digital currency around the globe keeps on increasing. Tax is just an way that the government makes an earning, till now the usage were low and same didn't affect the economy even when it's not taxed. Now as the user rate increases, surely more countries will move forward focusing on taxation.

Taxes are an evil that pushes the market away from equilibrium, but it is a necessary evil. Without taxes to build infrastructure and systems of regulation we wouldn't even have a society. Anarchy does not work, and so we need funding for the government to do the things no one else wants to. If you privatize everything we would have situations where hospitals help patients based on how much they can bill them. That's just the wrong way to steer capitalism in. Here in Norway we are already taxing bitcoin profits by 25%. The taxation system here is very advanced and efficient. So it's only natural that Bitcoin, like everything else, gets a tax.

Bitcoin may be decentralized, but if you're going to have exchanges where you can convert bitcoin to fiat, the government only has to regulate those to give it the ability to impose a direct tax on bitcoin.  You could still try to circumvent that by doing things like converting to fiat in another country, converting that country's fiat to your own country's fiat, and then transferring that back to yourself.  But it would be quite the hassle to have to do all that.

how can you tax a thing with no records? whoo know who own the bitcoin or any coins ? who has the ID for that each wallet that has bitcoin in it ? is it possible to file a tax ?

Yes, it is hard for the government to keep a eye on bitcoins as they have a decentralized nature and they were originated in 2009 as a anonymous currency so making it difficult for the government to track each and every transactions. Taxation on bitcoins will perhaps not work as they are completely anonymous.

Instead government can apply taxes on converting bitcoins to fiat as it is a centralized process. Bitcoins do not belong to any country as you mentioned instead bitcoins are a global digital currency.

I have nothing against the idea of taxing my bitcoin assets, but how will they find them if I work very hard at hiding them? Obviously if i don't declare the voluntary they will have no idea the coins exist. It will be easy tracking and taxing exchanges and such, but avoiding these taxes will be darn too easy.

I love Mr. Robots take on it as well - this is going quite mainstream.

I have no further questions about it, but since we are talking about taxing bitcoin, although its not happening yet, i think it would be imposed anyway as long as there is government, it is also a proof thay it was legalized and accepted in a certain country. I was just wondering about 25% taxing you were saying,.i.guess its a bit expensive but just like other people saying there is no choice but to follow.government's order.

Yes the tax is the guarantee for the bitcoin to increase the value and the price of the bitcoin, as much as the bitcoin is increasing in the price more the profit is getting high, I love to be the part of the bitcoin today because I love to buy the huge amount of the bitcoin and to get the profit from it, I will try the bitcoin for sure because the bitcoin tax is the sing tam that the price of the bitcoin will increase more and more.

I suppose this is good news, it is certainly better than an outright ban on bitcoin. Governments will be happy to let bitcoin survive if they can benefit also but does this introduce a level of regulation we do not want?

This can somehow be a good idea, putting tax on bitcoin means that it is being recognized by the government, legitimizing and validating its existence. This will also change the mindset of other people who have negative impression on bitcoin. I only hope that if imposing tax on bitcoin happen, government will consider the common good of all who use it not only getting money and abusing it, so the bitcoin industry will continue to grow and prosper.

yes now it is growing in the world so if it is taxed then there will be a chance opened for bitcoin to become legal in the countries. once bitcoin is taxed i think it will be secure like other currencies but in the crypto world it is growing position and i hope that its value will arise from its current status in the future. more about it that if is taxed it's transaction will also e affected and there will chance for decreasing it's value. 

I have no problem with crypto being taxed, and to be honest I hope it does. It's a fair trade, if by paying taxes we get to see a huge increase in investment and adoption of crypto, which would probably happen. Right now the only fear is that bitcoin is a bubble and it will burst. Government support and recognition, although not needed would completely erase that fear, and BTC would get huge.

I agree, I'd also like to see them regulated finally. Taxes would bring cryptocurrencies into the mainstream, as companies won't be afraid to use it anymore. After such news, some people may start complaining that they will now lose part of their coins, while in fact the mass adoption and mainstream usage would pump the price multiple times.

I totally agree. I have recently commented this in another post about taxing.

Besides, Russia is not the only the only one to create its own crytpo, as I also commented:
https://bitcointalk.org/index.php?topic=2271895.msg23102559#msg23102559

What I’m seeing in this forum is something similar to what I saw on gambling forums a bit before gambling was massively regulated in most countries. Based on that, I believe regulations will be passed in most countries and most people will follow them, so Governments will get their piece of the cake.

I know what you are saying maybe right, but the whole point of using bitcoin is to be free and i feel if it gets taxed it would defiey its whole purpouse, not mentioning that in order for bitcoib to be taxrd by the goverment they need to know every transaction you make and how much you earn which will make bitcoin lose its privicy and get controlled by the goverment not in a direct way because they can't but indirectly, you talked about how taxing it will bring more poepole and give them confidance to invest in it, but this will come at the cost of some of the core advantages that make bitcoin different from any other payment methods.

In my part I find positively because I can see the big potential of bitcoin at all, I mean the whole point now is bitcoin is getting recognized by many country, though it is really a burden to us, users of bitcoin, to put tax on it in every transaction still it is free now to use in store or where ever it is accepted. But I am hoping once it is already in my country, I mean recognized fully like others, that the tax will not that big because if so it would not be fair I guess, because it will show that the power of bitcoin is now controlled by someone.

We know that most of us hated tax/taxation but this shows that for example South Korea is supporting bitcoin for the community. It's good for the crypto community and let's just don't think something bad about it. This will make that everything we earn will be taxed and it's the blood of a country. Let's just expect that this will happen very soon to each country that will adopt bitcoin.

It´s difficult to look beyond the profit taking in crypto and moreso to look at BTC as something different from what we had. BTC gained it´s first popularity because it´s a disruptive, decentralized new currency. As it becomes more controled and taxed what why wish is for the tech to evolve and something can become BTC 2.0 to continue the revolution.

I don't think tax will be helpful for bitcoin because normally we always have taxes in our income since then and with bitcoin also? The reason why we are also here with bitcoin is to experience the feeling of tax free service. If this thing will prevail,to be taxed then that's kinda hard to earn and more or less people will not invest or would change their minds. I think it's better if it's just stay the same because it's worry free and convenience is there too.

I agree with you.I am already paying taxes from my regular job so in case if bitcoin will be taxed too,i will be paying two taxes already which i think will not make me feel convenient anymore.I am already satisfied with what bitcoin is offering me today so much better if it will stay the same.No tax for bitcoin and expect more and more people will still be attached on bitcoin.

It's all expected, when a particular sector prosper they would certainly be there demanding for taxes. Who doesn't want a chip of these easy profits?  International or local exchange had already been greatly pressured to comply with new standards and theres come KYC. I understand it's necessary to charge when a particular party provides services to you (public or private), but BTC has already a very established blockchain reward for the miners hence government are hungry for income, regardless of justification about 'being a citizen' or whatsoever.

My only question is where wound the taxation happen is it going to be the exchange of bitcoin to fiat of the transaction to the market using bitcoin as we all know it is also used in the black market.

Not everyone has the same view, for them taxes is just another form of state control and they are not going to accept it just like that, these people are hardcore and are not going to surrender to the desires of governments, personally I think we have no choice, especially if the amount of money we are talking is big, so if that is your case pay your taxes on your profits and forget about having troubles with your local government.

You know, it’s always funny when I see people say this sh!t about Bitcoin being stronger than the banks. Do you ever ask yourself– all these companies/corperations that are running Bitcoin, who handles their money? Do you think they build a vault at their work place to store money that people use to buy Bitcoin or what? Whenever you buy Bitcoin from company/cooperation with your credit card, it goes straight to the company’s bank account and not a secret vault. So you should stop deceiving yourself.

One thing we need to understand is that with before bitcoin there has been government and this government is so powerful that no major technological advancement goes without them being taken care of if you want to have a good sail. So, we all just need to see this as an advantage on its own because it then means that we are can then run our individual businesses in peace without having to deal with the fear of government might ban bitcoin that would then lead to a crash.

I think it's perfectly natural if bitcoin is taxed

I guess so because the government will be depending to bitcoin by that time and it's going to be a very good help to the country, to other bitcoin users that are happy with this and it will be disappointing to the bitcoin users that really don't stand with this type of idea.

Yes, taxation will surely not work on bitcoins but this idea is not a bad idea. Just think about the economy of the country for a minute and forget about your profits and losses. If bitcoins are been taxed a huge amount of tax will be collected by the government as we have a good number of transactions each day in bitcoins.

It can surely help to increase the economy of our country and that is a good act against improving the financial condition of individual country. At least the third party countries should apply this method for developing their country.

Actually, there is nothing to worry if having taxes imposed for those who are holding bitcoin unless it is not being abuse by the authorities. Paying taxes is just a big contribution  to our economy, at least we can contribute even in a little amount. All generated taxes are for their projects that the community can benefit on this.

We wait how they put taxes on bitcoins, this may also be the reason to legalize bitcoin because the government has benefits from bitcoin taxes, let alone the price of bitcoin is at its peak today.

There's nothing to worry because we all love that the government will support bitcoin and this is just the return of their support. When bitcoin will be taxed, other alt coins should be imposed with tax too because we are mostly focus with bitcoin, the government rather. As the taxation will start, others can possibly jump to alt coins that doesn't have tax so it's fair that all crypto's will be taxed.

It is difficult to tax Bitcoin because of unknown transactions, we can not the transactional manager.The government can not control Bitcoin, Bitcoin goes beyond a country. 
However, if the state actually levies Bitcoin, then they have fully accepted its existence and legitimacy.

No, the OP is not talking about mining fees. The OP is talking about taxes collected by the Government. The government has the right to tax anything... income (income tax), gains (capital gains tax), consumption (value added tax) or even death (inheritance tax). Transaction fees are something bitcoin users live with.

Russia is looking into ways to legalise and more than likely tax Bitcoin. Poland already taxed 18% when you try to cash out your hard earned coins. It's up to government in each country, some don't have time now, some already did to get more revenue and some will do it in the future. Remember where is a lot money involved tax man is always there.
 

Thats not good if all countries implrmeted to tax bitcoin everytime you use it, i cant imagine that to bitcoin but its happening.
I thought bitcoin cannot be taxed, they will need another fork to do that.

Well this is a thing when a country legalize bitcoin, in exchange of adoption is the tax that every users needed to be paid every time they have a transaction.
Which I think it's unjust to do, bitcoin is decentralized and should government never touch any thing of it. Government always run after this as they see bitcoin as a source of fund to be used in whatever their prerequisite.

How can they taxed something that is anonymous are they going to inspect each block of transaction in order to charge them with the right fees ?
Maybe this is only possible through a third party site that is controlled by government like for example trading or exchange sites but they will surely be out of business as bitcoin users prefer decentralized exchanges than the one's controlled by government. In any case it will be highly diffucult how tracking and bitcoin users total earning because of it's blockchain technology.

Bit coin is exempted from all taxes till the legalization process in any country although after conversion of bit coin in to other legal currencies then definitely all the taxes will be administered by the concerned government it will also be an issue for all the investors if taxes are put on bit coin because the value of tax will be high due to a very high rate of bit coin.

What did you expect with a market and asset class does a 10x in one year and is worth almost 200b? It was surely expected that countries would start taxing gains and it is not only South Korea looking to do this. Canada is

going to tax bitcoin but is in the works of finalizing some laws. Look for all other major countries to follow suit or at the minimum have laws in place describing what happens with bitcoin gains if that is not taxation.

And I think it isn't. Bitcoin is money and money is not taxed in the way that they are trying to tax it.
When you earn fiat, you are being taxed on your income, but if you buy fiat from someone you aren't. So, if you had bought a car and then decided to sell it for fiat, you aren't taxed. You had the wealth and turned it from one thing into the other without profit.
Now, how would you attempt to take taxes from someone who had bought BTC for fiat in 2010 and is holding until this day? Would you try to make him sell to get e.g. 100k USD he owes in taxes? It's not going to happen.

How can bitcoin be taxed ??? 

I think there are already alot of country who have already add a tax on bitcoin. I have read that germany already does? How was it possible?

If it would be taxed accordingly and reasonably then I'm fine with it. It would be the right choice as the flow of money into the country isn't regulated much and can cause unusual economic instability. The country would benefit from it too on the long run and will probably attract more attention globally.

Great. It's countries finally recognizing bitcoin, and is one of the first steps for BTC to be widely used throughout their respective country.

I think it is possible but really difficult. When that happens though I think it would somehow eliminate some of the benefits of cryptocurrency, one being cryptocurrencies should be out of scope in terms of government radar.

When you say taxing, it usually means the government can trace your cash flows. Though with fiat money there are still people getting away with illegal and money laundering activities, probably what will get taxed are businesses that accept or sell bitcoins. For individuals though that make profit from bitcoins such as mining, it would be difficult to tax them. Venezuela was able to crack down on bitcoin miners because of the surge in power consumption abd they were able to get away with the reason that because the electricity is subsidized in venezuela they had to shut down mine operations because they are apparently technically stealing electricity from the state. So probably mining would also get taxed because it is easy to track miners through high power consumptions.

Miners getting taxed and businesses operating with bitcoin would most likely get taxed in the future.

This is just my opinion.

this is  great news! if this thing"s happen it means that the bitcoin also in our country will be regulated.maybe in korea now  they acknowledge the presence of bitcoin and the important  of  crypto currency into their economy.how  i wonder in this  last few months i've heard a news that  bitcoin ICO campaign  is banned in korea but now they plan or preparing of tax in bitcoin its means the impact of digital currency is severe and its will continue its legacy to the whole world.

I guess if it's recognized by most of the countries, the usage and adoption might become larger in demand. About the taxation of bitcoin, I think Government might collect bigger taxes on bitcoin if ever the possibility of implementation took over and dominate the digital currency system. We might be affected with the new order of bitcoin system due to law makers regulation will initiate power to control over transactions of each person who earn bitcoin specially traders who had been doing it for so many years, and now the freedom might be taken away because of that changes. This must be reviewed very well before taxations and legalization happens in a certain country.

i think this will be the new era for crypto currency for implemented the tax and maybe it will give a good impact for the crypto currency itself. because i guess other country will use the same tax like what south korea did and in the end, the government can give permission for bitcoin to be a legal so people can use bitcoin without worried of anything. but actually i am curious how much the tax amount that will be apply to us and when the tax will be giving to us.

Yeah, transaction fee is the kind of tax and this is the right of government to collect taxes without this income there will be no development in the region ad all this taxation will also be implemented over bitcoin and there will be eases for the government and citizen for paying and collection of tax and bitcoin will also reduce taxes amount as due to its volatility and all this the natural thing no worries now.

It can be taxed on paper. There can be a law made that requires people to report Bitcoin gains and  impose penalties for those who ignore it.
That would most likely be a dead law that would be impossible to execute. There are such laws in every country.
So a law can be made but making sure people respect it is another thing.

We will have to pay the tax to the government if and only if the government announces it to be legalized across the country.

In that case, this will help the government to make the economic situation of the country better but it will also take the money from the pockets of those who are having bitcoin as by now, they are not paying even a single penny to anyone in the form of tax.

Bitcoin is already taxed by governments in majority of the countries over their conversion into fiat, Till now they didn't find any way to tax it over network transactions but it is possible that soon they will implement it over network transactions too. That's why government have legalized bitcoin with some regulations so that they can apply tax over it.

Actually bitcoin is making economy of country even more better if they study about bitcoin seriously if they don't study about bitcoin and they want to ban bitcoin then it's there big mistake because bitcoin is making everyone life better while government cannot play that role like bitcoin. So it's better for every nation to allow bitcoin if they want to become a best country around the world by economically.

I dont think soo which bitcoin can really improve ones economy since we do know people can potentially not able to pay their taxes correctly once they do accept bitcoin knowing on its anonymity aspect it is really possible and this is one of the reasons why most government doesnt really accept or adopt bitcoin because it cant be taxed directly but yet they can impose taxes on the services involve on it.

Can anyone pls explain me how to pay taxes on BTC if you are reselling it thru localbitcoins? If I'm willing to sell my btc with additional fee for cash and then deposit my card with this cash and buy BTC again for lower price. It is pretty clear that bank will inform  tax department that I had many deposits but how can I prove that it is mostly the same money to avoid extra taxes?

Bitcoin being taxed should be a non issue if you truly understand cryptocurrencies. Code is a language and you cannot change freedom of speech or even math for that matter.

So this means that South Korea supports and recognizes bitcoin right? This could be a great way of securing users and reducing the possibilities of illegal transactions. However, the anonymity, which is a unique feature of bitcoin will have no sense. Still, as long as you're not into illegal transactions there is nothing to worry about taxation. Looking forward for other Asian countries like mine to implement this.

The interests of countries in Asia are still struggling in the ICO ban, nothing else and they do not discuss the illegality of transactions, I am very surprised why Asian countries do not do comparative studies with japan, because only japan really support bitcoin at the moment, they always turn to the China government's attitude and take a panicked stance without thinking of a solution.

Finally a post here that isn't the typical BS "waahhh regulate me" or "wahhhh tax me" or "look how govt will improve crypto!"

I know that in order to go mainstream, crypto will need to attract the eyes and wallets of "normies" (for lack of a better word) and governments, but sometimes I wonder where the libertarian founders of crypto have gone to... Those people are what made this space so successful and amazing to begin with. And the second you pull heavy government into this, this space will turn to shit. Just look at the stock market.

maybe they do comparative studies with japan and start to discuss with the government because i see that in thailand, bitcoin is getting legal but i am not sure about this. and i think if the other country from asia can support bitcoin and make it legal, then bitcoin will be grow in asia as we know that many people from asia is using bitcoin too. i admitted that only that now giving support to bitcoin but i think soon the other country will follow what japan do.

If Bitcoin should be taxed then the next move will be to legalize it. I do think some transaction fee on trading site is due to tax.

I agree if Bitcoin is taxed, as long as Bitcoin taxes are used by the government for free health and free school fees,

finance widows and orphans, if the government can do this then I'm really a Bitcoin as a taxpayer.. :)

I do not really see as that will become a dead law. As long as you are converting from Bitcoin to fiat, then definitely you have made some gains and then you have to go through exchanges to do that right for easy transaction and that is where the regulation of the exchanges by the government comes in. Except you just want to do some P2P direct transaction (bitcoin to bitcoin) or something, that is where taxing will become hard to implement, but one way or the other, someone will still end up having it and exchanging to fiat.

If they’re going to charge Bitcoin users tax, I don’t think they will be doing it directly like it’s normally done, charging everyone taxes by the end of the month.
What they will do is charge the Bitcoin companies heavy taxes that will increase the fees we’re being charged for transactions.

I don’t like the idea of bitcoin being taxed. We all know that bitcoin’s value is greatly higher than other currencies, correct? Which means it’s tax is also high. So, if bitcoin’s tax is high what will be left for people who are earning bitcoins. I consider this as a bad thing.

For Bitcoin to be taxed, that means the government has accepted it as something it owns or has the rights to regulate. Hard to say if it's enforceable universally when transactions are either private or through privately owned exchanges.

If things were so simple then things would be alright but that is never the case, governments are not going to be happy by just taxing bitcoin, bitcoin is something they do not control and cannot hope to control so the surveillance of all of those that use bitcoin is going to be there, however as bitcoin becomes more popular it is going to be impossible to watch all that info even with their advanced technology, so it is likely they will ask for changes in the code so they can monitor people more effectively.

Before implementation of taxes, there should be law that guides all involves with bitcoin.
Also, to protect our account from being hacked.

Interesting but I imagine how they are going to ensure that taxes are effected? Is it going to be on our wallets or only when we partake in a transaction? We live to see .

It is impossible to happen because many users will be affected on that situation, moreover bitcoin or crypto currency was decentralized together with the funds so it won't happen. If we visualize that bitcoin is taxable only government are earn benefits on that, because instead of income of poor people they were need to pay taxes due to policy of the government.

Lols tax bitcoin? What is the effort of government to ask for a tax? We are already paying the miners for every transaction. BTC is created to eliminate the 3rd party from transactions. Korea's government is unreasonable they should create their own crypto and apply tax to it. Lets see if anyone will use it.

I think most countries that supports cryptocurrencies are doing that thing even here in my country, our local  exchanges are regulated by central bank so it has tax when we are selling our Bitcoins. Everything in this world are controlled by governments so want it or not tax will be implemented everywhere. But how about islamic countries? I think they have lesser taxes or don't even have taxes at all but I am not that sure just heared some rumors. I am not actually afraid of taxes it doesn't matter for me as I contribute small amount for the good of my country. What makes me worried about crypto most especially Bitcoin is that the transaction fees are getting higher now it is killing my purses. Take note tax is a one time transaction only as we cashout our funds on exchanges so it doesn't hurt that bad.

Yeah at one point or the other you can expect that to happen. People think that if they use cryptos they will be exempted from taxes and they think they are smarter than the governments. But you should have seen this coming, one government is planning to tax bitcoin, soon the majority will join in. Tax is a must and each and every person is obliged to pay it.

I don’t think that government will do any bad thing as all the taxes collected are been utilized for the development and betterment of the country. If bitcoins are been applied taxations than a huge tax will be collected by the government of the individual country and even the economy of the country will then increase.

Also giving some amount of bitcoins as taxes will not affect much for us so it might be a good act but it is highly impossible to apply taxes to bitcoins as bitcoins are completely anonymous.

its quite normal,anything that will become popular will come in eyes of government ,and it is money related government definitely going to charge,if users in a country increases to great extent.started by South Korea ,soon taxation will be imposed maybe on transaction from bank ,or any other trading from online stores, by other countries as well,the only wait is for large no.of users.

I just want to know how to do that, if it's applied correctly I think will a lot of evasive to pay taxes, the government does not know who really has bitcoin, right?

There are a number of ways to bypass the taxes applied by the government so perhaps any of the government won't apply taxes on bitcoins. Bitcoins are the major source of income for many people's and all the sources of income are been applied taxes by the government excluding bitcoins. Bitcoin mixing services will be used more if ever bitcoins are been taxed. But for now, government has nothing to do with bitcoins so we can continue learning a good amount of profits in bitcoins.

Bitcoin is not too soon to be taxed because there is still a lot of time before the bitcoin will be fully legalized by the government and if the government will fully accept bitcoin then they will have a law that will tax bitcoin for sure because that is how they will make money in bitcoin and other cryptocurrencies is by taxing it and there is nothing that the people can do but to obey the rules.

this is good information for bitcoin price increases, the more people use bitcoin and the more bitcoin demand the price will be expensive, at least we can take advantage of that opportunity to sell bitcoin at high prices.

It's depend on each country policy whenever they want to apply tax bitcoin or not.
AFAIK when they have legalized bitcoin, they have right to apply tax on it as it will generate country's revenue, but in other side, bitcoin will no longer as decentralized currency.

it also means, governments around the globe thinking to declare bitcoin legal. Example, Australia Introduces Bill Killing Double Taxation on Bitcoin https://www.bitcoinmarketinsider.com/australia-introduces-bill-killing-double-taxation-on-bitcoin/

I don't like the idea that bitcoin will be taxed. I mean bitcoin has a high value so, if it were to be taxed, I believe the tax will be huge. So, what will happen to those people like me that considers bitcoin their only source of income. So, this is a big NO for me.

well there are countries who develops a bitcoin taxation rule but i differs significantly depending on your countries jurisdiction, so better to do some research regarding your country's regulatory frameworks. Some countries considers BTC to be a currency, while in other jurisdiction considers it as an asset or property, while others define it as an asset-like value.

Unless a global revolution beyond actual state-economy binome happens, Bitcoin will end being taxed as states will need to control it to allow it to exist.

could happen if bitcoin has become legal in every country, and that is a big advantage for every country because bitcoin can be controlled by the government.

I truly doubt if over network transactions can ever be possible to tax. Sure, anything might be possible, but I really still do not see how this can be. The only easy way it would be now is still via exchanges as long as you are converting to fiat. Then that way, implementing of tax can be done just by regulating the exchanges. Having this anyway, in most countries will start bringing more adoption and awareness for the usage of bitcoin.

Those who have built in companies can have tax if tgey are a registered company but if not then it's quite impossible to have tax especially bitcoin is decentralized and anonymous.

This is a good news if it is especially important for a country because it will increase the income of a country. I have read that according to the US Internal revenue service (IRS) that the bitcoin should be treated as an asset or an intangible property and not a currency, as it is not issued by a central bank of a country. Bitcoins treatment as an asset makes the tax implication clear. Because bitcoin is treated as an assets, if you use bitcoin for simple transactions such as buying groceries at a supermarket you will incur a captital gains tax.

I think everything that is happening right now is mandated with tax even the food we eat and the things we consumed. Although it is quite inevitable in such countries as it goes to reparament of the society. I think every economic system which uses monetary could identified to have these taxes.

It is mandatory to every country to obliged every citizen to remit tax to the government for the betterment of the country's enfrastructures,health benefits and among others. All legal transactions that are monitored by the government will be paying taxes and in return all transactions are being safeguard by the legal authorities to avoid scam and fraud. If bitcoin will be legalized in all countries then this would increase the economy however might also decreases the monetary exchange of bitcoin owners.

Some governments recognized bitcoin as one of their legal tender along with its exchangers. In return, they will going to treat bitcoin as an asset  or an intangible property and not a currency to be able to tax every transactions. Just like what the US internal revenue did by requiring people to report every bitcoin transactions for tax assessment. Many countries might follow what the IRS done if their method of bitcoin taxation became successful.

I have no problem with it. If in our country we can legaly work for bitcoin, receive and spend bitcoins and other cryptocurrency then I will be agree to pay taxes for it. Everyone will win, economical growth, more people can get new jobs, more freedome. As for hard regulation i dont think they could do it really. And it is why blockchain is great technology, some of them can be public and some of them is private. I think it is win-win situation for people and for government

the government will not stop blackmailing you from any side, even with a crypto currency that is decentralized. In my own country, initially the government didn't really care about the investment of this crypto currency, but since the volume, price, and number of transactions increased over time, they began to see the potential land that could be charged from the crypto currency. So they began to hijack the miners who are considered to be earning from this crypto currency. But still, bitcoin and other crypto currency have not been considered as a valid transaction tool. They do not forbid to use it, but bear your own consequences.

If the government will put a tax in bitcoin, then it will lose its factor of being a decentralized cryptocurrency because government will now control the game. On the other hand, if we will pay taxes in bitcoin, we can't really sure if there will be economic growth in our country since there are a lot of corrupt officials in the government. That is why I don't really like the idea of putting tax on bitcoin.

news that sounds good, hopefully my country can nerapin things like that, so we society needs correct certainty of news that has been circulated at this time, because every country must have different thinking also.
with it the certainty of the government then the public can use it.

It is fine with me being taxed. But I think, for now, in our country there's  no rule for every bitcoin users being taxed with every transaction.

I am enjoying the privilage of using BTC without tax.

If ever the bitcoin will be legalized in the whole countries,  There's possibility a big chance that bitcoin will be taxable in that time. So each transactions will be paying taxed in the future. We are not only going to pay with the miners fee but also the taxed as well.

Id think that some countries will take advantage of bitcoin  but bitcoin does not support truly all exchanges of goods like paypal or eveb some cahsouts . For bitcoin it is decentralized means no strings attached no matter how the government works it doesnt apply on bitcoin because it is decentralized no taxes though fees on some wallets  but its a fair trade to even apply the system of taxes on this  well for in fact no government could grasp bitcoin that far as changing some features  maybe they can ban bitcoin but they cant stop bitcoin for uses

I actually believe that bitcoin legally should be taxed in almost all countries, the reason it isn't is that it is so hard to prove income so unless someone self declares there is little that the authorities can do.

It surely will be a new era for the cryptocurrency space. Although, so many people are still enjoying it tax free now, but it is something that cannot keep going on and the government cannot keep a blind eye seeing how they can derive huge benefit from it.

One thing I am sure of is that no country can start taxing bitcoin without declaring it legal and that action will create awareness for the currency eventually. How the taxing activity is now going to be done by each government is what we keep our fingers crossed to watch out for.

In the world of crpytocurrency, people usually misunderstand the context of the term TAX. They think that when we say bitcoin is taxed, the government are going to get a part of your owned BTC as a tax monthly, which is not true (and I think will not and should not happen). Bitcoin is taxable in the sense that miners are being paid in processing the transactions done by people who use bitcoin. Another way how bitcoin is taxed is that these businesses and establishments accepting bitcoin as payment are actually paying transaction fees especially when the buyer and user are using two different btc wallets.

in the news tv stated, the official meet up on yesterday world event talking also about Bitcoin as an alternatives payment. Also talking about the powerfull of Bitcoin and some country also declined that as a alternatives payment gateaways

Yes after legalizing bit coin as regular currency in any country then the bit coin will must be subject to the taxes because implementation of taxes is basic responsibility of any government some people are against the taxes on bit coins but I am not of them because I think that in any country every activity should be lucid in the best interest of public service.

the fact that the taxpayer is the user. Think about it, when we send bitcoin to exchange address, we are charged a transfer fee and this fee is for miners. When It's arrive at the exchange site, and we want to redeem our bitcoin into local currency, we will be charged approximately 1% of each transaction. This is a tax, imposed on them, then charged to the user. so they get the full profit, without having to think about taxes. am I right?

If there a comes a time when the government will declare bitcoin as legal, after then it is very much possible for the government to collect the amount in the form of tax from the owners of bitcoin. After legalization of bitcoin, bitcoin will come under the control of government and government will make its own rules and regulations. The owners and investors have to follow those rules then.

We all know that bitcoin has a decentralized structure, it has no central control and can be run by specific people. It is not impossible to happen that bitcoin will be taxed. Some other countries  are already working on it since some countries governing bodies are now being alarmed by the growing tractions with regards to cryptocurrency from which they get an idea to get involved and begin having control  with it.

It will definitely become larger in demand. Over time, people will start seeing the value it creates and how usable it is for transactions more than just seeing it as a digital asset. It will also create a huge level of awareness for the digital currency and make more people be ready to accept its usage since apparently, taxing it means legalizing it.

This won't be something that is not expected. You have something you are making profit from and if you convert it to fiat, I see no reason why anyone should not be exempted from tax. However, it is something every government in all the countries globally will end up resorting to. If they cannot stop or control bitcoin, they best find a way to benefit from it. This will eventually make it more recognized anyway.

I don't quite see what you are trying to say. What do you mean by "Bitcoin is taxable in the sense that miners are being paid in processing the transactions done by people who use bitcoin". You seem to refer to miners fees, but does it have to do with taxes. As far as I know in countries where Bitcoin is made legal, it is subject to capital gains tax. You don't pay taxes for transacting with Bitcoin if that was your point. If I'm not mistaken, you pay the tax only when you book profits from Bitcoin operations on an annual basis. But if you don't cash out, you don't have to pay any taxes.

There are existing jurisdiction already who develop and put a tax on BTC, some considers it as asset-like value and some as currency so depending on your jurisdiction, BTC may be tax or not, I suggest research about the rule of btc in your country.

I know this will happen too soon, any state can tax whatever source of income is and bitcoin being an investment which earns profit could also be taxed by the government and by doing so there will be a lot of new events that will take place and of course the users and the traders will come up with new ideas because of this move from the government.

This isn't new. The IRS in the US announced years ago that bitcoin trades are taxable. In fact, anyone trading cyrpto should expect that profits from the trades are taxable as income. The IRS decided to tax it as property, which is puzzling to me since it makes more sense to tax it as a capital gain like other commodity sales. But in no respect is the idea of taxing gains on bitcoin new or surprising. The idea that everyone is joining bitcoin just to escape taxes has never made sense to me, since doing anything in bitcoin doesn't relieve you of any tax obligation or even make it easier to avoid paying taxes. Not even sure where that idea came from.

Do not believe this statement. Even how hard they caan try to tax bitcoin, it will never happen. Bitcoin is decentralized and you can not control it as well as know the people who are holding bitcoin. Using bitcoin will make you completely aanonymous. Therefore, they are just lying about the truth that they can not control bitcoin

That's right,  because I believe that time will come bitcoin and other crypto will be accepted by local as a mode of payment just like fiat. Considering that, government will surely imposed taxes to those who are holding it. Although having an anonymity identity, maybe its time to show who really you are.

It this will be implemented in country then it is the sure thing that government will take tax from it taxes are not bad at all taxes help a region to develop itself in a good way and this is the sure thing that bitcoin will give a lot of room to the development in the region and taxation system will also get eases from the bitcoin and on clicks people will pay their taxes and tax in this precious coin will bring luxury in region.

It might be good for the governments but almost all the bitcoin and crytocurrency users are gonna object that plan because users does not want lessen their salaries.

The bitcoin is easy and the simple currency to use the payment for the transaction as the payment. Bitcoin tax is a bit different and the value of the bitcoin will be easy because it is the right and the value of the bitcoin is getting high, the bitcoin importance is very bright value. The bitcoin is increasing so in the future the tax and the income receiving will be very good.

At that time, do you think people will still patronized bitcoin? I dont think so, because just imagine we are now paying miner's fee and we have complaints about how high it is what even more if tax is imposed.

The government is now being threatened by bitcoin growing popularity and their now beginning to accept it and try to control it.
Maybe by the year 2022, bitcoin is now a legal currency in all over the world.
Sad thing is their could be a possibility that the transaction fees will be much higher

Then how about businessmen ? why do they still put up a business even they know that there are expenses and taxes to be paid?
it is because there are a lot of ways to maximize profit, so i don't believe bitcoin will lose its users/traders when the government impose tax on it.

Not sure how practical it would be to tax....

Bitcoin used in Dark things with out control of government so that it is hard to make Taxed on it

Users are anonymous but exchanges are not. They are businesses and are required to apply for a permit. Governments can tax bitcoins this way.

To be honest, Bitcoin being taxed by the government is a good thing because if we are going to analyze this kind of situation, this just only tells us that Bitcoin is really being a mainstream across the world. This is actually a sign that there is no such thing being hindrance for the government to accept bitcoin. This will cause a huge impact especially on the volume of the people using bitcoin. This is a good news actually if this is actually true.

Few governments use the similar methods to tax the user. Here too we cannot get an cent percent success in the taxation system. Few exchanges for the purposes of recording tax prioritize the KYC norms. Also few governments has made it along with the gold as the taxable asset. Here for what you hold the user needs to pay tax, which cannot be implemented effectively in reality.

This is better than ban, i just read the news last month about South Korea are banning the ICO so therefore this is a new development that maybe after lifting the ban they just regulate it and to impose a tax to all digital currencies. Well this is one of the advantages if a country is legalizing the bitcoin because it will increase tax collections and will help to improve more the nation's economy.

There is no way to be taxed. Who is going to follow the money flow? There are some tax free transactions happening. like transferring funds to an exchange or from exchange to own wallet. how the goverment will spot income and own transfers? so this is impossible for now and for ever.

Well, I disagree for the idea of putting tax on bitcoins because I don't want my earnings got lessen; who wants to have a lessened earning, no one right?

I decide to say no to tax because of my personal interests but just for the sake of our economy I will let it to be implemented if ever, but in one condition: our governments must used the taxes claimed in giving solutions to our economical problems and also give support for bitcoin's wide advertisement and applications to our society (since it is also beneficial for them).

Bitcoin is the best alternative of payment. As far as tax is concerned, I think it will only be possible when the government will declare bitcoin as legal. Till that time, there is no way that the owners of bitcoins will be asked to pay the tax for holding of bitcoin.

I think this is why it is gaining this much of fame amongst the people in such a short period of time. There is no worry to pay tax.

Not only South Korea, Russia is preparing to Tax, Poland have already Tax in place when you withdraw your Fiat from Bitcoin you need to pay Taxman 18%, USA, Canada, Denmark, Sweden and UK are Bitcoin-friendly countries.

That is reasonable way to do due bitcoin is used as means of buying goods. If tax is vested to bitcoin, it means a specific country is legalizing it be part of their system (a law needed to create to make it happened) .  Which means more people will be able to use it.  I also agree that it will also help to lessen or stoping illegal ways of using bitcoin to buy especially in black market. It will also help poor country gain benefit from it because it will generate more earnings to use it in one's country.

bitcoin tax is new?  i think it's more of ppl not paying their capital gains tax than anything else.  I read somewhere not long ago that only 8 holders filed capital gain taxes on their bitcoin or i might have read it wrong..

in INDIA
The I-T department can catch up if you try to evade tax on sale of bitcoins

18% on fee conversion is too much.Seems like they do love bitcoin too much  ;D Or just going to the trend since they know that people can make good amounts thats why they decide to impose those ridiculous high tax.
On my own local wallet,conversion of bitcoin to our local fiat doesnt really require any fees.There might be some on conversion but really on small percentage which is somehow considerable.

Not in this day because if it is taxed may the people leave investment in bitcoin and the price will go higher and then the many people will have the purchasing power to but even a single bitcoin. Therefore I think that bitcoin should not be taxed.

Let the people enjoy a tax free investment in a digital currency and earn more and more money in a short period of time. I am not in favor of bitcoin tax.

Which country do you refer to? The IRS has been looking through the Coinbase records since last December, and it is unlikely that only 8 people from the US filed capital gain taxes on their bitcoin holdings. Given that you can easily get behind the bars in the US for tax evasion and all the hard work that the IRS puts into catching people going for tax evasion, you can make a sure bet that this number is well in many thousands. Messing with the IRS may cost you dear, it may cost you your freedom.

Many Governments are putting tax on bitcoin and cryptocurrency by one way or other. For example in the UK the bitcoin is similarly treated as precious metals like platinum, gold, silver etc. So you need to pay tax accordingly. I think there is this bar upto £11,100 limit profit could made from bitcoin selling without tax. That is if you purchase and sell bitcoin in a year and make upto £11,100 then that profit is not taxable. However anything above that will be taxed.
There is Israel which treats bitcoins as property and you need to pay the tax accordingly.
In India bitcoins is considered as wealth and it is taxed under wealth tax section. In fact there is a section which ask whether you hold any crypto currency or not.

Thus countries are finding ways to tax the bitcoin income in general. Govt loves to put tax on anything under the Sun.

^
Wait, taxes on bitcoin? And how they are going to tax bitcoin? Would you pay tax in satoshi or what?
As far as I know they can't tax bitcoin, but they can make you pay tax only if you exchange bitcoin to real money and you will pay tax on money, not on bitcoin.

I think this idea for taxes has been around long time enough, maybe with the tax to bitcoin users it could make the government want to legalize bitcoin but the worst thing is bitcoin will not be a decentralized and anonymous currency anymore, it will disappear and bitcoin will be controlled by the government as well as its users, you want to this happen mate?

this is a good opportunity to buy bitcoin because korea can trigger a bitcoin price increase by using bitcoin as a tax payment in that country.

Yes of course it is the primary responsibility of any government to implement taxes in their respective country for running their country. I think that it is the duty of each and every citizen to pay all the due taxes well in time without delay.

It sounds good if they have plan to tax bitcoin because this is an indication that bitcoin is really getting more popular and recognized legally by government. But the concern is how they will do that? I think it is just fine to put tax on bitcoin if this would help to improve the economy of a country and I hope the tax they will impose is just fair so that the income will earn by investor or user of bitcoin is still high.

It's not a bad thing that he's getting taxed atleast if you want him to have future.

And even then they are going to only be able to tax bitcoin of those that choose to disclose their earnings in bitcoin, for those that are only trading crypto against crypto there is no way to tax them and now that decentralized exchanges are coming then that point of failure of all cryptocurrencies is going to eventually disappear, so taxing our earnings on bitcoin is going to be an almost impossible task.

When this happens one of the things i´m looking forward is to see who wins the battle for anonymity/fungibility. Will it be Monero? ZCash and projects on ZKsnarks? or people will just embrasse the fact that we are all watched and controlled and just give up their privacy permanently. I´ll try to get some more privacy coins, because with BTC on the spotlight that market will pump..

how shoul this work? since btc works anonomusly peaople cpuld just claim other income sources, which does not mean I expect them to. But Bitcoin works like it this, including the maximal value increase BECAUSE it isnt controlled by government?!
Am I not right?

greetings

if government is to accept bitcoin as currency, then surely they would issue tax since some of the government funds comes from currency then people have and if people will change their currency to bitcoin, then bitcoin would be taxed.

I disagree with you. If they make the exchange follow some kind of KYC policy and only allow that customer to have a single address, that address can easily be monitored. Or on the other hand the exchange can be made to disclosure the amounts each client has. That´s why we are eager to see D -ex working:) and then focus on privacy coins! BTC 2.0 must be a privacy focused coin!

no matter what taxes I'm asked to give the one I got over 3 bitcoin a month ;D the tax is at least 0.001bitcoin well better taxes to get the legality of the country taxes must be in place so bitcoin keeps the price stability

Maybe they mean to say is those exchanger in their place is taking too much taxes  for bitcoin. I have no problem with taxes but it should be balance and not like some kind of overpaid just for the tax. I don't know why they had to do such taxes it's like they should have ban bitcoin in their place. The government is taking too much for those bitcoin users in their country, this might be some serious business going on in there.

I think the US government is quite a bit of time away from taxing btc straight up. They will continue to just tax it when converted to USD as much as they can.

They can't tax the bitcoin's transaction itself since it is somehow anonymous.
But they can apply appropriate taxes on the exchanges once you converted your coins to fiat.
Since it will reflect as an income Government can apply those taxes.

Just hope that they will have a fair and balance taxation system for this.

They should tax the exchange if they want to gain something from bitcoin and i feel that the user won't mind that much if their withdrawal or trading fee increase a little bit. Taxing the transaction is not good because people already pay transaction cost.

But isn't that essentially the same? In my view, it is just a matter of convention. If you pay a property tax, does it mean that you should pay the tax in bricks or stones or whatever your home is made of? With the property tax, you don't even have to exchange your property for fiat, you just have to pay the tax simply because you own some property. Why can't it be the same with Bitcoin?

Taxes are good for the development processes in the region and as soon as all the countries will accept bitcoin they will sort out how they can trace this and anonymous factor will be sorted out soon and this thing will give huge development and progress to all the regions because taxation on this ill also give eases to the government and on top of it government will be happy to collect tax in this precious coin.

It will be interesting to see how governments go about trying to tax bitcoin, realistically the most likely is just to put high taxes on exchanges etc and then also tax people when they convert bitcoin in to USD/some other currency.

Having the idea of tasking earnings from bitcoin or cryptos as the case maybe is also having the idea of legitamating the crypto word.

Obviously, "you can't reject a meat and yet you use your teeth to split or divide same meet to share to people ". This amounts to deceit,  therefore, tasking is tantamount to acceptance or legitimate.

I heard of it several weeks ago. Still consider it as a fake

That's the only way I can think of to get it taxed, I'm withdrawing BTC using my debit card, after withdrawing from exchangers, thus, I could easily get taxed.. I don't think the governments can do something right now to start monitoring the usage of Bitcoin, unless they start accepting payments for taxes and so on. There are more than a few ways to withdraw Bitcoin into Fiat without being "seen", such as 1-1 selling.

Eventually, I believe it will be taxed everywhere. It will have so much use that governments will do their best to tax it.

Anything that you earn either self earn income is taxable. That is based of what i read. So if you are earning through working in bitcoing therefore its taxable. I think it will belong to your gross income and is subject by tax if im not mistaken. But please do correct me if im wrong.

Perhaps if the state implements taxes on each country's transactions it will earn more income, and it can be used for economic development and bitcoin in the country itself.

I think south korea doesnt have the right to tax bitcoin because they dont even own bitcoin,im just sad about people who lived in south korea who uses bitcoin.
Bitcoin made so that peoples money wont be govern and ruled by the government.

If the government recognized bitcoin, of course they will be aware of it. They first ban it but since they can't control the users using bitcoin in an illegal way then there is no choice but to tax it. A more balanced decision rather than banning it. Making both sides benefit but the only unfair thing is when the tax is way to high.

It was known outcome,as some country are accepting bitcoin so they will consider it as capital gain asset and tax it.but at least they are accepting cryptocurrency.its a big thing for crypto community.soon other countries will start accepting it as blockchain application spread across.

Nope, there is no way bitcoin are going to be taxed because there is a limit with the coin. Compare to the fiat, they can keep making it which is if there is more fiat then you will lose your money value and that will make your country economy clash mean while bitcoin, government can't produce it and everyone is holding their own coin so how can they control and making taxed with it? It does not really added up

Not only that which come to think off that bitcoin is a decentralized stuff and they cant directly impose taxes on it which means they would rather choose up or redirect on the services being used by bitcoin.This is why most government doesnt really like bitcoin overall not only on the thing that they cant tax but also they are seeing on the potential criminality increase because of its anonymity.

As some others said, Taxation is the ultimate recongition for Cryptocurrencies.

Laws can be made and unmade.

But once a state starts to have a new source of income, it will immediately spend in on state services or debt repayment.
So it will be almost impossible for to give it an end.

If I think it could be taxable bitcoin, but obviously bitcoin should be legalized first, because if not recognized impossible imposed by taxpayers, sooner or later there will be consideration and government discourse about this bitcoin taxed

It could be. Since it is our duty or obligation to our government and this is also an income. You're not onnly helping yourself but you are also helping the economy of your country semutracing was right, bitcoin must be legalize first in a certain country in order to implement tax. But it would cost a big argu and discussion before it happen.

I can't wrap my head around the idea that a centralized institution can "tax" or even regulate BTC without violating the freedom of information. The only way they can tax it is if they have every single computer watched. 

That would be nice but that will require a government that cares more about his people than what he cares about itself and I have my doubts we are going to have a government like that anytime soon, as long as they get their privileges they do not care about anything else, that is why they are worried about bitcoin, bitcoin is going to take those privileges away from them and they are not happy with that.

Well in the near future bitcoin will be taxed everywhere on the planet. It will be an official global coin I would say. Also there is a slight risk that another coin will take over bitcoin and then all the other coins will be measured after the new king. ( mr robot theory )

Ehmm… I’m also thinking the same thing, cause I don’t see any way the government can charge tax for Bitcoin, unless it’s being regulated by them; Bitcoin cant be regulated by any government cause it’s decentralized.

The advantage of earning money online or freelance is because it does not have a tax and if bitcoins will have a tax then it was a very bad idea because a lot of people will turn back their side and go focus on the hard way which is working on the corporate world.

Tax only deduct small portion of your money, tax won't make you poor because the amount is tolerable and also you have the return from the government as the provided facilities.
People just don't have the same short thinking like you that always think taxation is bad and could destroy bitcoin.
Maybe it'll make your actualy earning lower than before taxation implemented but hell, it's not going to make you poor once more.

Great news, it makes bitcoin legally to use for transaction and under law protection who use use the bitcoin.

This good new, but also the question is why is the Government involved in this considering that they want a part of crypto for free. Do they have some crypto policy to help developers? I think not.

Yeah it's really hard. How can goverments taxed something that goverments can't control it ?  So i guess this is impossible at all.

Yes that is seriously a crucial problem for government to take actions in favor of bitcoin. First go all they ask about their own part like taxes and commissions and all that stuff. When somehow they become convinced then that stuck at one point and that is the control of crypto. They need to maintain the whole business of bitcoin and then making changes as they want it to make.

This is not always the case. As there can be prohibitive tariffs which are so high that they make imports prohibitively expensive, the same can be expected in respect to taxes. When the government doesn't want to ban something explicitly, they can tax it to death or regulate it out of use. In this manner, heavy and prohibitively expensive taxes may in fact make you poor and poorer if you are going to remain within the pale of the law. Simply because this could be the desired effect of these taxes or regulations.

As long as it is reasonable then so be it. It is the duty of each citizen to give some contribution for the country's growth. It's like exchangers do when they asled for a fee every trade we make.

I agree bitcoin users will be charged tax, if the country can guarantee the safety of the use of bitcoin.

Bitcoin will always be subject to capital gains tax in the US, if it is being traded. This is same way all gains are taxable in the forex market. The only question is how to avoid capital gains tax for US residents.
So far only found 2 ways: move to Puerto Rico for 183 days a year to qualify as a resident and buy a home within 2 years of moving to qualify for 0% capital gains tax.
or
Have a resident of a tax free country open bank account for you, fund it and trade using their bio. Not sure how you would get that money back to US though without IRS able to find out during an audit.

If even bitcoin is to be taxed, of course the taxation rules must be tolerable otherwise they won’t be accepted by the business community which forms the backbone of any country. So no need to worry about the taxation of the bitcoins.

And I am pretty sure if someone is dealing with bitcoin, he will not show such an unprofessional behavior not to accept the rules of business or else such a person will definitely put himself in trouble.

It is funny that some people actually want the governments to tax bitcoin since that will mean they recognize bitcoin as a currency but I’m the kind of person that prefers that the government leaves bitcoin alone but as bitcoin becomes bigger the possibility of that happening is very slim but even if governments tried to regulate bitcoin many persons are simply not going to comply.

of course, most people will not obey a law that regulates about cryptocurrencies because of they believe it is decentralized. but not with the government, taxing cryptocurrencies is the way how government deal with it, they didn't like anything about without their control.

Thats what you think but where all the transaction fee be going?We've already giving tax for every transaction weve made.They say that government cant touch bitcoin but the truth is were given them.And bitcoin will always be the leader of all cryptocurrency.

However crypts get regulated, taxing of bitcoin won't be taking place in an effective manner. Already bitcoin have been taxed in several countries based on the transaction made with relation to the buying and selling of cryptocurrency. Same as stated, due to the decentralized functioning its hard to keep track of calculations of taxation.

Maybe someday Bitcoin to be taxed especially if many people now a days using it as a daily or indemand use of money

if bitcoin user and member in particular country will grow 10% of the total population of the country then maybe they should make a law for taxation on cryptocurrency. for the development of one's country

I think if bitcoin is taxed, as long as the country legalizes the bitcoin in the country so it will not hurt, and bitcoin will become more global, the possibility of bitcoin will be increasingly considered worldwide.

The reason why I prefer bitcoin rather than my job is because whenever I get paid from my job, the tax is really high that only a few amount is what's left for me. So, if bitcoin were to be taxed, I think the amount of tax deducted will also be high. This is why I'm against the idea of bitcoin being taxed.

If the government will apply taxes to Bitcoin they must recognize first Bitcoin before implementing this and we had nothing to do just obey it because they are the one making the law and if this will happen big amount.of tax will.be collected from bitcoin

Will probably be higher than your job, the taxes in bitcoin usually about 30% or more in many countries that already implement taxation for the bitcoin. it's somewhat bothering me if a country wanted to accept bitcoin and tax it because the amount of taxes is just ridiculous, but that's the only way for us to keep from being caught as tax avoiders right.

Yes, there should be, after all these years crypto must have a tax in order to have a fair policy it might be useful to some sort of donations particularly in other countries in Asia. It might have been the most difficult times on bitcoins because every government banks are attached to it. If they can't have tax well there might had been a problem to them.

If this will be the case I think there are good effects also on it because it will become more exposed to whole country knowing that their government will allowing bitcoin to be accepted as payments in their own country.

this is not possible, the government will not know, anyone who plays bitcoin. and to track it will be difficult.

btc is free of tax, i think

I don't think that we can talk about a trend when it is involved South Korea. Over there everything is strange, including the national politics, so i consider that this is not a refer point for the future of the governmental bitcoin regulations.

I feat that they would implement this all over the world. I think that it should vary on a country on whether bitcoin should be taxed because the goverment officials in some countries like ours is just corrupt, and might end up keeping taxed bitcoin for themselves.

Taxes are key ways to get development in the country and the countries who accepted bitcoin as payment they will surely implement taxing system on it and that will help payer as well as collector and the best intention in bitcoin taxation system is the prices vary and governments can collect huge amount of taxes to spend on the progress of important fields for the citizens and users will also get an easier way to pay taxes.

not only in South Korea implement tax for bitcoins, even Canada already implemented tax for bitcoins as well Japan. Implementing tax for bitcoins will also help the economy's growth. Just the right proportion of tax will make a huge effect for the country.

If by tax paying system a government legalized the bitcoin in the country then it is the trade of benefit, the should be in a small amount, because many people are making investment in bitcoin due to the tax free from government. they consider their self safe from the tax and they invest in the bitcoin if the tax on bitcoin is made high then those people will search a new currency for investment. in a result the tax on bitcoin is not beneficial for bitcoin.

Still, tracking tax calculations becomes a stalled discussion.
Since this decentralized functioning are new technology, many government still stutter in adopt it.
For some countries that have applied this tax regulated, I think they has been prepared accepting all the risks in consequence.

I am quite curious to learn how bitcoin can be taxed. It is a digital currency which has its great quality of anonymity. Every user is just defined by a wallet address. If govt. wants to tax it each wallet address must be taxed but then its next to impossible to get some money out of someone's wallet. There is just lot of confusion as to how the taxability norm would sustain.

Our government has dashing habits - no guarantees, but taxes are ready to be taken off even from what they do not believe (crypto currency).

It was always going to be taxed those who thought otherwise were either naive or trying to avoid taxation. Simply put where you make money there will be tax prepare for that and bitcoin is no different despite being digital money.

I think many countries have already set their sights in cryptocurrency and has actually seen how it can help their local markets and their economies. That is why it is just a matter of time until some countries, if not all, would try to regulate its use or put taxes on it, so they can use it for their advantage. Since the bitcoin market has been increasing and increasing, it's a good way for countries to reap its benefits.

This is correct, many countries have been trying to tax bitcoin under legal status. I don't think they will miss a great tax income from their citizens. That's why they need to legalize bitcoin and take tax from it.

I think that taxing is not so bad. At least it means that the government is reasy to build infrastructure around the electronical ecosystem.

Taxing of Bitcoin is a way of the government accepting it's use and coming to terms with it. This is what the government all over the world will eventually resort to at least to get a participation and somewhat control/regulation. It will have its advantages and also disadvantages but at least some level of good interaction with the citizens if properly harnessed. There is actually a lot to be done by the government to get themselves updated. I believe with the help of private sector partnership, this can be achieved on time.

For me, taxation for activities related to the cryptocurrency is one of the worst cases. If this is an effective taxation system that cannot be avoided

It is very much possible to happen since cryptocurrency is decentralized and the government want to somehow gain control over it; by regulating and  taxing bitcoin use. It's bound to happen and it's only a matter of time. I just hope there would be some good ways available to avoid it completely.

It'll be interesting to see how it is implemented on a technical level. I guess they would have to demand data from the exchanges and merchants.

Not good for investors but probably inevitable soon we or later.

My government says that bitcoin is a commodity, maybe someday the government will require taxes for bitcoin. hopefully with bitcoin tax levies could make the government legalize bitcoin.

Is bitcoin a ground for taxation ? I mean why does the government need to tax the bitcoin? Bitcoin and government doesnt have a business in each other. Is it because the government wanted to have more money and they see bitcoin as a milking cow? But if thats the case and they tax it , we dont have a choice. I hope it will not happen on my country.

That is surely going to happen at global level. But the ques is that how will Govt able to justify the real amount of tax from a person. decentralized BTC wallet just provide a private key with wallet Id which is just a combination of no. Unlike Bank Account,wallet Id is not possible to detect, so how will be real income be justified.

In the world of crpytocurrency, people usually misunderstand the context of the term TAX. They think that when we say bitcoin is taxed, the government are going to get a part of your owned BTC as a tax monthly, which is not true (and I think will not and should not happen). Bitcoin is taxable in the sense that miners are being paid in processing the transactions done by people who use bitcoin. Another way how bitcoin is taxed is that these businesses and establishments accepting bitcoin as payment are actually paying transaction fees especially when the buyer and user are using two different btc wallets.

In my own opinion their are different advantage and disadvantage of bitcoin to be taxed by our governmant. Advantages are: we can help our own government to produce some of best projects for our countrymen, Bitcoin will be legal. But the disadvantes of the bitcoin to be taxed are: the income or profit of our hardwork will be cut, and sometimes the cut or taxes that they collect is too big.We hope if ever that the time will come that the bitcoin to be taxed, we are still here for our bitcoin to support.

It is ok for me if bitcoin will be taxed. But the government will make sure that the tax that they will get will be use for the welfare of the people. And not go to the pocket of corrupt official.

That would probably hurt investors and other jobs related to earning of bitcoin. If the government will now take a step of intervening of the crypto from being a decentralize to centralize and make hold of it in their hands, then we can do about it. But in doing so, i think that will also be a good alternative to prevent people from scamming using bitcoin because they have to register their business under SEC first before they are allowed to operate.

This could be probably to happen as everyone think in the future. Though it happens that tax will be collected  from us, I've never get worried to that, since  from tax we've give is for the good  the entire community also unless it is manipulated by the government and our tax went into nothing.

The current tax bill which will go into effect in the USA does not allow "like kind' anymore on Crypto.

This means that when I xfered LTC to BTC and did like kind exchange (shapeshift.io a like-kind exchange) I was supposed to keep track

In that most of my crypto transactions, were simply to pay bills or get equip from A to B and not on the exchange long...this will be minimal for me

for those folk trading between crypto on like-kind exchanges you could be in for a world of hurt

in that IF the tax law is signed in 2016 it APPLIES to 2016....

I used www.bitcoin.tax (http://www.bitcoin.tax) free site options to see what I did mining simply by plugging my BTC, LTC, and DASH

mining addresses in.....so that is taken care of

but I don't do excel...so can't get the format right to get a CVS file of in /out transactions (even thou most were only a few

days to get equip or hoard a month for equip buy) .... so if anyone looks into this and can figure out this simple excel

field names from their example feel free to post here or PM me for a BTC or LTC tip!

anyway.....this is gonna suck for some folk

brad

(luckily, kept only 3 mining addresses all year and I can do this by hand..but the bitcoin.tax site looks pretty slick ...even thou

I can't seem to figure out some of it!...at least I verified my by hand mining income was correct...before I choked) :)

Well, for me It's ok if the government will put tax in bitcoin but they should make sure that they will only put small percentage of tax because if the tax is high then it will sure make the people to hide their bitcoins. Anyway, Im sure whether it get taxed or not some people will never admit that they hold some bitcoins.

Too late in the USA....like-kind is going away for crypto....in 2017 no less...fun times in the Republican 2017 tax bill...it is toast


https://www.allcryptocurrencies.news/bitcoin/gop-tax-bill-blocks-potential-bitcoin-gains-gambit-2/ (https://www.allcryptocurrencies.news/bitcoin/gop-tax-bill-blocks-potential-bitcoin-gains-gambit-2/)

there is talk also of BCH when it hit the blockchain (around $280) also counted as income....along with BTG and the 22 other forks

all will apply to 2017 because Trump plans to sign it into law before Xmas



this is gonna be great fun (not)



save yourself....I'm doomed the IRS knows who I am

Yes, it is definitely interesting because it will make our economy to grow well.  It could also help a lot of government projects to be funded by the other investors who are giving their tax in the country they are in. I hope that it will not be corrupted so it will be used in a good and beneficial projects for the development of our place.

There are large number of currencies present in the whole world and still more coming in market but mostly people are following now bitcoin and the reason is that there is no tax on bitcoin if bitcoin can be taxed than some people will be leave using bitcoin.

I think taxing Bitcoin isn't a good ideal because anonymous feature could fuck it :D

I think that it is just fair for bitcoin to be taxed because that is the way where the government might fully accept bitcoin because they can finally make some profit from bitcoin by taxing the exchanges in their country and also requiring bitcoin users to pay taxes based on their income in bitcoin over a required range of time.

Bitcoin is taxed, it will be legally recognized. otherwise, there are many disadvantages. Transaction costs will be charged. There will be many inconveniences in trading

In my country, it is considered that the owners and miners of Bitcoin will have to pay taxes on their income from the trade in crypto currency - 18% of the income tax and 1.5% of the military charge. I believe that in this way the government is trying to take control of the crypto-currency. We have not yet officially recognized Bitcoin. But it is also not forbidden. Taxes will help to control it.

In my country crypto is not taxed. It is even not recognized on the state level. But there were cases of special purpose police unit raids on the homes of crypto analysts with confiscation of equipment and PCs... Our government doesn't want people to use cryptocurrencies untaxed. But there are also no regulations in this sphere yet...

Funny, who told you that you’re completely anonymous while making use of Bitcoin? Bitcoin doesn’t make you anonymous (though in some ways it does) but that won’t keep the government from taxing Bitcoin users if they wanted. Do you think they will go directly to tax people for using Bitcoin? Nope, they won’t, rather they will take the other way round which is forcing the Bitcoin companies to charge their customers a monthly fee (tax(, or maybe they can do something that will increase the transaction fees we pay.

Knowing Bitcoin to be taxed, is just a sign that Bitcoins are widely known and being acceptable in the market. Also bitcoins are part of the governments source of funds for the commnunity.

Yeah! That's was right if bitcoin to be taxed it is already exposed all over the world and bitcoin is already accepted by all governments countries to country.

and that means the government approves the use of bitcoin . also bitcoin will get more support , my question is how goverment know who had bitcoin ? cause bitcoin is peer to peer , and decentralized , someone tell me pls?

I dont see bitcoin being taxed, and maybe when that time comes i guess it is already accepted and being circulated in the country and accepted by the government as a legit currency in the world of cryptocurrency.

Bitcoin is decentralized that's why many people like this because no one can control it even government, but what will happen if this can have a tax?  Its good but hope not too much price.

Well I want it to become real. Of the government will legalozed and approved this then it would be a very helpful to our people specially to our country and economic. Taxes will be use to improve the country. I just hoping that government will not taxed too much .

I dont want Bitcoin to be taxed and I think by many users also. I dont know the real process of the taxation of Bitcoin, I dont know if the Government will be regulate  it if it is being taxed. It is not a good news to me especially I am earning not so big amount of bitcoins. It will be a burden especially to small earners.

I don't like the idea of bitcoin being taxed. I feel that the tax that is deducted from bitcoin would just go to the government officials who are corrupt. I really don't feel confident with our government official who was know to be corrupt since I don't know when. That's why I'd rather not tax bitcoin.

I think that is inevitable. I have said many times in previous post and replies that it's only a matter of time when governments would notice how bitcoin has been becoming a major market mover. It's price value and marketability would surely attract governments to delve their hands into it because it would spell more and better profit from it knowing that as it keeps increasing in value, people would also follow through.

I think for me it is sounds uncomfortable to me it can trace all people who are not want to know by the others that they are using bitcoin for they're transaction and it can minus the amount of our earnings to bitcoin even if it is all amount than other people who earns a lot.

Already in effect , Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Bitcoin.

The best way to tax btc is when it is withdrawn to cash maybe otherwise people would go and trade into the decentralized exchanges and you have not the possibility to track them.

of course if the government in a country has applied bitcoin as the official currency it means that there will be a tax system that will be applied as well as on other types of investment that has been legalized by the government. in fact, if the government is ready to adopt bitcoin as the official currency that can be used legally this will certainly have a positive side that will be obtained on the circulation of the currency of digital currency. because in my opinion of course the circulation of bitcoin will be more controlled and will be able to overcome the level of criminality by some individuals who use bitcoin for crime. because if the government has adopted as official currency that can be used legally, of course there will be a body that will be functioning to control the circulation of bitcoin by making rules applied about bitcoin.

This is the only time getting your Bitcoin stolen comes in handy. Whatever amount was stolen, you can always claim the profits as a loss on your taxes. This could potentially mean never paying taxes again, considreing if BTC goes to 1 million if you lost a lot of them you will always be able to claim that and essentially get returned 100% of all tax that you pay each year.

Yes , as i expected. The past years of cryptocurrency performed so well and gave a silly eyes to those who has a lot to invest but the goverment also see this coming. The wide using of cryptocurrency as transaction medium made the government to put hands on it obviously to be taxed and get some. I think that is why transaction fees are more higher.

This is a great idea but you know I hope tax wont be high than what we can get cause of course this is all our hardwork and to be taxed and be abused such as corrupted is not really acceptable I hope government will took care for the money that may able to used from here.

Well you are right it is good for betterment of bitcoin because if it will happen bitcoin will be high in demand and government will put bitcoin in its good list. I think it will make bitcoin recognized by a lot of countries, bitcoin adoption and demand will be larger and people will consider bitcoin a fair and good currency so bitcoin is having bright future and good source of income for people if it will be texted it will get it high.

They were always going to be taxed especially if the asset class was worth of any value. That is why governments likely waited until this year to see whether or not cryptos would be worth taxing and it turns out they are for the governments. If you thought they weren't going to be you are naive, I mean take a look at how hard of a stance the USA is taking. It is hilarious but at the same time it makes sense, they want a piece of that pie!

According to Google government take tax because they use those funds on some important factors like military or education. That means anything which import or export from the country has some tax even the money. But Bitcoin is not actually a money it is just some numbers so the data is importing and exporting through the service all around the world in exchange we are getting are giving the services or taking the services. I did not see any. By which government can not take money from us but they are still charging us on this.

I'm not happy when i hear about taxes but this time i'm glad to hear it because it means that Bitcoin gains more and more power.

This is just a prove that bitcoin's popularity is so widespread now that the government takes advantage unto it by taxing it. Its sad that ive read here that more and more countries started to tax it and it id not possible that my country is next.

Just to remind everyone, bitcoins has always been taxable from the beginning, though not the use of it per se. The thing is, if you profit from buying bitcoins and selling them at a higher price, then you are profiting. That means you are liable for income tax to your government since you profited. It doesn't matter where the source of the income came from, the thing is you profited which is taxable in most jurisdictions.

Is bitcoin just some numbers? This means when you sell/buy something, you do this to get just some numbers and aren't looking for money? I bet you exchange or buy/sell bitcoins frequently or in a situation when you have a chance. If it's just some numbers, then why do it has price? Especially so high, some thousand dollars? And what's gold? Something similar of a stone but valuable for some reasons, yes? So I think from this example everything is clear.

That's already expected in countries in which Bitcoin has been accepted and well-known. If you encash Bitcoin, there is already a tax.

I'm expecting that will happen soon. Government will surely find ways so they can ride on bitcoin.
It's good on both side.
Hope the Tax should be use to create more jobs not on the pocket of corrupt politicians.

 Well for me,that is reasonable way to do due bitcoin is used as means of buying goods. If tax is vested to bitcoin, so it means a specific country is legalizing bitcoin to be part of their system..  Which means more people will be able to use it.  I also agree that it will also help to lessen or stoping illegal ways of using bitcoin to buy especially in black market. It will also help poor country to gain benefit from it because it will generate more earnings to use it in one's country ..

This is not necessarily so. Indeed, profits remain profits no matter what asset you buy and sell, but it doesn't mean that it is bitcoin which is taxable here. I think when we speak of bitcoin being taxable per se, we actually mean that its possession can be taxed on its own just like other property.

Besides, not every jurisdiction requires you to pay income tax on your bitcoin earnings. For example, if bitcoin is officially prohibited in some country, earnings obtained with it will be illegal too. Therefore, you can't pay taxes on them because that would effectively mean legalizing bitcoin.

They can't control supply and market of bitcoin and this is how they'll move. They'll regulate transactions and will finally tax every single of person that will profit for trading bitcoin. The very first move is to tax those local exchanges and finally it will passed to the users.

As of now there is no tax on the bitcoin, in future may it can be taxed. Seeing the scenario of bitcoin users if it is taxed that results in the improvement of the economy of the country. If the tax is applied bitcoin users may lose their part of the profit that is also a concern for the bitcoin community.

When it comes to taxes, the Internal Revenue Service has ruled that bitcoins and other "convertible virtual currencies" are "treated as property" and not treated as currency. This concise guidance from the IRS has implications for how bitcoins are taxed, what information is needed to make sure taxes are calculated correctly, and what tax planning techniques people can use to minimize their taxes on Bitcoin transactions.  In brief,

Virtual currencies are property for tax purposes;
That means, you'll have capital gain or loss when disposing of virtual currency;
Income is taxable, even if you are paid in virtual currency;
Spending virtual currency is really two transactions in one: disposing of the virtual currency and spending the dollar-equivalent amount;
Business transactions in bitcoin are subject to all the normal rules for sales tax, withholding, and information reporting;
Keeping detailed records of transactions in virtual currency ensures that income is measured accurately.

Hopefully government in my county will act really slow  :D I don't want to pay taxes from my BTC income :(

Only those exchanges that are registered to their operating country are capable and being taxed on their services offered. One day it will come and everyone see it coming and visioned it already so for now we just have to be prepared for it and don't get shocked once it was implemented.

When their citizens are starting to become rich through bitcoin for sure they will act accordingly.

I don't think that bitcoin would be taxable at this time. Aside from being decentralized, it really hard for the government to trace individuals who are holding bitcoins. And I don't think that it could be very effective and it have chances to be implemented, unless the community will agreed the wants of the governments towards bitcoin.

Well if our tax has been monitored and it is organized then I am in favored that bitcoin will be taxable to my country. I believe that my tax is a great help to my fellowmen. I expect that our tax has not been used for any crimes just like corruption.

Everyone expects it because in the presence of Bitcoin has a tax at least the tax is not in misuse for the corrupt.

It is not that much easy to bring the taxation on bitcoin on floor as the system what Bitcoin is only data cryptocurrency is encourage do to its technology friendly so obviously no on will expect that has to be changed one more issue to be raised. If governments start imposing taxes on bitcoin for sure there will be big impact on bitcoin and the financial sector.

Taxation of Bitcoin cryptocurrecy usage only means that it has already been recognized and have already known its worth just like what the people specifically the government do to somehow control the usage of the natural currency we have right now. This movement of putting tax into bitcoin will be somehow a good way to make monitoring of the cryptocurrency usage to avoud too much usage that can lead to negative outcomes in the future.

If that is the best way for the government to provide regulation, and then levy taxes for every bitcoin transaction, I strongly agree. provided that bitcoin is completely legal and no need to worry about legalization.

Probably yes! Because taxes can also help our economy to increase and also I believe that if we do taxes and give it faithfully I think there is also possibilities of better society and community to our perspective countries.

Bitcoin is a decentralized cryptocurrency shouldn't be taxed. But some country governments probably want to earn more profit for the own government thus they implement tax on usage of bitcoin. I really disagree to the idea that bitcoin should be taxed.

Sure through this government will notice bitcoin and it will make bitcoin as legal as our real money and investments. This will make bitcoin get recognized by a lot of countries and cites those were not aware of it and were not ready to accept bitcoin. Usage and demand of bitcoin will increase with this and will ask for bitcoin to invest and make it legal currency will be first and best thing in this regard.

some countries have implemented mandatory tax for bitcoin users (such as india and south korea), it is because the development of bitcoin very rapidly from day to day.

Bitcoin is getting its popularity and increases prices so it makes a sense for governments to finally tax bitcoin.If this will happen this will be more accepted as world cryptocurrency

Yes. I think so. Taxing  is good for btc as it'll become legal for people to trade btc.
It is far better to be taxed bitcoin than ban it. I think it is good news. It will be in favor of government to accept bitcoin being a legal currency in the country and then collect taxes from exchanges.

Well ,in my opinion, it is somehow good for government to get it taxed but for their people I don't think it is good for them , if their government is good enough to use the tax for their people or be corrupted , in the point of btc users i dont think it is good for them having a fixed amount then having deduction because of the tax?? That they will not surely feel what happen to the tax they are paying.

I think if bitcoin will be legalized then government will absolutely implement tax. Government will not let it slid, especially if they think they can collect good proceeds for public fund. 

If government accept to legalized and accept taxes on bitcoin it is a good idea because of what bitcoin has . We can develop our knowledge on bitcoin and continue improving our economy . Through taxes of bitcoin we can primarily raise revenue for government and also we can continue help those street families to have a good services to them.

If governments accept bitcoin then I think they will find a way to collect taxes from bitcoin. It is very difficult to manage and collect this market tax. If bitcoin is taxed, it is likely that the market will go down.

I will agree that bitcoin have taxes as long as they will allow as to continue our income in bitcoin and all crypto coins.

It will indeed be a great thing to a country, but when the time bitcoins are being taxed, the banks will also react to it. The banks will be the first one to be affected by the growing population of bitcoin in a country. They are the one that will be in a worst condition.

I think if the government wants to really apply the tax on the crypto currency, it is very good, because it can increase the income of the state, but to support the policy the government needs to make a strong rule first so that everything is under control

A BIG NO!!!!! >:( >:( >:( I think the government wants some income from bitcoin .. !!

Collecting taxes on bitcoin it is a great contribution on economy because they can continue serving people who are less fortunate in life government can continue a good services and build importances in a community.

Having tax is ok because if you have tax it means that bitcoin are legal in your country ,well if that happen hopefully the tax they want to get is not just a big amount.

You have a point, it only means that bitcoin is being regulated in your country having it taxed is like a law or something therefor it can be considered as legal because it is being recognized by the government. We just hope for the best when bitcoin get taxed in our country that they won't ask that much since they can't control it.

if real, it is good for btc because then btc become legal for people to trade btc.

It will probably alright to big earners but bothering to small fishes but I am pretty sure that it will be base on your capability to pay it like what is commonly ordered by the government ( I don't know if there are some other rules about taxation in other countries ).
Having this tax is good in general and will surely benefited the people in terms of social services and infrastructures but can also assume the possible changes that might happen in to your coin's total value which can possibly decrease.

Bitcoin is to be taxed to legalize all transactions involving bitcoin so that no one will ride to the popularity of it and use in some illegal transactions and services like pyramiding and networking that syndicate often do so.
If it is legalized, transactions like these if not totally stop will lessen a little bit.

Not possible as these fast growing investment becoming a widely used for everyone. It looks like crypto currency was certainly going that way because I'm pretty sure government will be planning for such steps towards crypto. Once taxed being implented, its totally a big money to be collected by and that is the government wanting for.

If this is true, this only signify that bitcoin is relevant to the economy and also with this every taxable bitcoin transaction means a help for the progress of a country.

I hear some speculation about that topic that bitcoin is to be taxed in my country according to some news. I think its not good for me because I want to get my money full 100 percent. Because I make it on my own and it is digital. But if it was be pushed by the government. Its okay for me also.

Everyone makes/earns money by themselves only, now if you want all 100% by yourself then thats a different story. The only possible way for government to allow use of cryptocurrency which cannot be actually manupulated or controlled by them is to simply tax them and earn a revenue.

This isnt a bad thing, you are anyways getting all the benefits of a cryptocurrency and as any good citizen you have to pay tax on your income which certainly will be defined under differnt slabs. Certainly it wont be ramdom executions. Only the high earners will be taxed and a slab system will be introduced.

Lets just wait for something like this to happen. This will anyways boost economy by generating some revenue and we people will be free to use and trade in bitcoins without the fear of it being banned. Think about the trust this will bring about in a nation over cryptocurrency. This is both beneficial for users aswell as the currency and the country too.

It has both pros and cons. Some people will leave bitcoin if it gets taxed because they are not ready to pay taxes or may be, they think that there taxes are used for wrong purposes. Few will be happy because this will provide them with chance of dealing with bitcoin openly.

Well, the whole point about cryptocurrency is about freedom and anonymity. (crypto=hidden).
In the moment that cryptocurrencies are connected to your name, and you pay taxes on them, you lose the meaning.
Actually, it's impossible to control and to tax the bitcoin.
All the government can do is to declare it "illegal" (even if this doesn't make any sense) and to make difficult to exchange it for fiat money.
This with the clear intent to push "honest" people to declare their possession of bitcoin.
But if you stay quiet, government it's powerless.

Of course the state wants to get its piece of pie from this market. And if it can't, then it will forbid it. If it can)

I think atleast now the taxation would make the bitcoins recognisable over the world, atleast in negative light though ;)

I think it's normal if a country put a tax from a bitcoin transaction. They can put in every change to a real money or put taxes whose have some digital asset. Even paid some taxes for government, it's not means legal for restricted transaction, such as terrorism, narcotic, etc.

If I think it could be taxable bitcoin, but obviously bitcoin should be legalized first, because if not recognized impossible imposed by taxpayers, sooner or later there will be consideration and government discourse about this bitcoin taxed

this is what ive been waiting for,that crypto will be given tax because this means acknowledging acceptance of every country.and our assurance and security that we will be on top of every nation,if this happens we wil totally conquer and kill the stocks exchange,and greater,bigger and wider cryptocurrency will be on the planet

He's right if btc will be taxed it only means that their government aggreed the rules and regulations of the btc, if thats the case I think they just want everybody to earn and also the government by getting taxes.

The new talks the governments have about regulating the cryptocurrency market would lead to the taxation of the cryptos including bitcoin. It's only about when not if, anymore. I am sure that they will try to tax the cryptos no matter the country.

I myself think that no tax problem is applied to bitcoin users as long as bitcoin can be legalized in that country. but surely there is a special requirement where the original properties of bitcoin also do not disappear like decentralization and anonymous? is that possible? if it can be done I myself agree. it may be that the government is currently looking for the right way to provide tax on bitcoins?

I guess the whole bitcoin madness are starting to get more attention from the tax authorities from many countries, Coinbase have even launch a Cryptocurrency tax calculator recently for their customers using their service, it seems that the tax authorities department will simply do whatever they can to enforce rules and regulations for their citizens to pay the taxes.

điều này rất đơn giản khi bitcoin bị đánh thuế
để trở thành một đồng tiền sử dụng chung của một đất nước thì đương nhiên bị đánh thuế
đặc biệt là hàn quốc đang có chính sách về đánh thuế bitcoin

this is because bitcoin can last up to 10 years ahead, and that's one of the advantages that will be taken by the state to apply taxes. because blockchain technology has the advantage of transparency, accuracy, and availability of data, and it will be applied in the state finance system as a good transaction tool. with the presence of Blockchain can greatly assist the government by providing a citizen identity platform. Encrypted identity data, in addition to being used as a digital identifier for government services such as health and education, can also be used for tax purposes. hopefully I hope this is still a consideration of the state to provide taxation regulation bitcoin.

If you use decentralization exchange like wavesplatform, you do not hesitate about tax. They can not take tax.

The government has imposed a tax on BTC, demonstrating that it has recognized the legal address of BTC and digital cryptographic currency.

People own the BTC and the digital encryption currency to pay taxes under the protection of the law!

I cannot imagine when bitcoin to be taxed and I think the government will search the opportunity to do this because they know that the people earn much money from bitcoin and the government thinks that they make another money if they can apply the tax for bitcoins. but I don't know if it's true or not because first, the government needs to create something to detect or to know which people that have bitcoin and I wonder how the government knows the right people that have bitcoin.

If the government want to achieve something then they will achieve it. The government is the biggest fan of centralization so i think that they will surely make something that will give an order to the people to just pay taxes to the government from their profit from bitcoin and since the blockchain is an open ledger then the government can double check it if they are stating the truth or not.

If Taxing Bitcoin is going to be possible in South Korea as mentioned, it will definitely be difficult for their revenue authority to get the actual value of Bitcoin that would necessitate being taxed, since it is what the Bitcoin user accounts for that can be valued for Taxation, since he is the only one that has the private key to his wallet. However, it is worthy of note that this is even applicable to the economy in which their Government had giving Bitcoin a kind of Support. Can we even talk of Taxation in those Economies where Bitcoin had not yet gain any form of acceptance wherever from either the Government nor its citizenry?

tax with whom? All accounts are virtual stars know who are using bitcoin that tax? I doubt this because it is not available. Suffering for the people?

Good news actually because now there will be judiciary inputs in this system and thus criminal networks may cease

But in the wavesplatform and in their dex there are only a few altcoins in there, only a few ICO's who have the waves system.

i do not want to sound rude, but waves is the biggest shit that i have ever seen, no offense, but that is the truth.

Good news,this means Gov recognize crypto and it’s legal for people to trade btc under law protection. But  does the government have policy that not harmfull for developers? Cause the value of btc is change so quickly.

It is not easy to give tax to bitcoin users let alone from the side that bitcoin users are anonymous and can not be controlled, actually the government is very interested to legalize bitcoin so they can give tax on bitcoin users and get profit. but the problem is how does it work, to require users to pay taxes?

meaning the government is beginning to realize the benefits of bitcoin and they are starting to think of taxing the existing bitcoin. but on the other hand, with the tax on bitcoin, the fee for each transaction becomes slightly higher.

I think its great if trade bitcoin taxed. This will give confidence to new investors that bitcoin is not a scam like negative news that circulated during this time. With taxes on the bitcoin trade, will open way to regulations on bitcoin trade

Bitcoin is decentralized and you can not control it as well as know the people who are holding bitcoin. Taxation will surely not work on bitcoins but this idea is not a bad idea.

I think this technology cant add taxes to BTC and cant control from government sector it will be BTC can popular.

no matter what taxes I'm asked to give the one I got over 3 bitcoin a month Grin the tax is at least 0.001bitcoin well better taxes to get the legality of the country taxes must be in place so bitcoin keeps the price stability

The German government officially recognized the legal and tax status of bitcoin and became the first country in the world to officially recognize bitcoin as its legal status. The German government classifies bitcoin as a "monetary unit" and "private capital", meaning that commercial interests related to bitcoin will be taxed, but individuals will still be duty-free to use bitcoin.

The application of tax to bitcoin can monitor the circulation of COINS.

Don't know why korea is so willing to collapse its own finance by accessing bitcoins?

I believe that this thing is impossible to happen. The concept won't meet this. Bitcoin is a cryptocurrency that is decentralized. The decentralization prohibits it to be taxed since it is not controlled by any government unlike fiat also it is a currency and happened to just be a profitable investment due to the high rate of increase on its market although it is not its main use or function.

You can expect everything from governments taxing pets. Even US congress included cryptocurrencies and ICOs and blockchain to its annual report, admitted 2017 year to be the year of cryptocurrencies. It will definitely impose taxes

But? We do know that government can impose taxes into those service which do make involvement into cryptocurrencies which is definitely can be applied into Exchangers since we do know they would need to comply governments regulation and if they decide to impose or mandate tax then they do need to follow for them to operate but talking about taxation on direct manner then its really impossible.

Once the government legalized the use of bitcoin its likely that the following step is to have it taxed.

for my country has not been in taxes, if this can be done in my country, chances are it can avoid the abuse of bitcoin, this is a positive value. hopefully other countries also do it.

Taxes on bitcoin is actually a good thing regardless of what a lot of people might think, this will help keep the market stable and also keep people from abusing the coin. People would be more cautious of what they do with bitcoin if they had to account for how the coins were made in the first place, this will keep a lot of people in line and would be very good for the cryptocurrency market in general.

Taxing Crypto currencies specially Bitcoin is a part of every regulation policy in which the government could earn from Bitcoin to help their economy.How ever not all nation are collecting Bitcoin tax like the Germany in which there is no tax if they will going to use Bitcoin as currency therefore it will depend by the government to impose tax or not but anyway taxation is better than banning.

Tax for bitcoin must be very small to attract new investors and not to scare the existing ones.

Bitcoin is a decentralized currency and that means bitcoin can never be controlled by any kind of government. So i think bitcoin can never be taxed by any government because of decentralization factor.

I think this is the reality that we should pay tax for that all type of money which we are making earnings Because that money will go for the development of your own country only and that money will make your country grwo easily .
And also if we are making earnings in bulk then surely there should be tax system but if we are limited with small amount of earnings then I don't think that we need to pay tax at any side .
And also here we should take care that if the government of our country are allowing to use cryptourrency with tax then we should use without any problem or quarrel Because there are many countries which banned cryptourrency , so it will be more better to make use of cryptourrency with under the government laws of your country .

Thanks for the information. I am a newbie and collecting all these informations thanks :)

I think the US government is quite a bit of time away from taxing btc straight up. They will continue to just tax it when converted to USD as much as they can.

 A growing number of people are getting their share of the bitcoin pie, but paying taxes on bitcoin may need some explaining.
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set the tax for the bitcoin i think the best way and of course better than banned bitcoin in a coutnry, maybe another country that want to banned bitcoin can use this method to tax people that have bitcoin, the bitcoiner will agree with this rules and dont banned bitcoin

I don't get what you are saying. Bitcoin may not be taxed but I think if the government will be doing it, we can't do nothing to it we will just be following the rules. And don't think that is a bit harsh putting more fee on converting Bitcoin to USD? That will force people to just buy on exchanges than converting their Bitcoin right?

this is good news and very meaningful. because this will drive the bitcoin price hike awaited investors who have invested bitcoin.

I beleive there will be no problem if governments will put tax to bitcoin because it will be more legal globally. With this, more and more people will come out doing bitcoin and other cryptocurrencies. However, governments will hardly get tax from bitcoin because it is located online.

if with the tax will make btc legalized in all countries why not, as long as the count is reliable and reliable it does not matter, after all we are accustomed to income tax, but that process buth process and system that must be studied carefully so that no party feel harmed
 

Histori

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Komunitas

For a country that has legalized bitcoin then levying taxes is a good thing, but if the government banned bitcoin of course this is a shame, I think the state should legalize first before levying taxes, if the government wants to levy taxes while bitcoin on banned course this is a shame.

Actually any transaction that engaged money or properties are subject to be taxed by the government but they should legalize first prior they impose taxes on bitcoin transactions.

I agree with bitcoin taxed by the government because with bitcoin in the exact tax for use and bitcoin will also have a legal umbrella and can help the country's economy as well

To tax bitcoin transaction s,this what countries long for so they can have enough money to improve their economic growth but before it implemented, the government should legalize first.

Attempts to introduce regulation of crypto currency in 2018 are undertaken by virtually all developed countries, and not just by South Korea.

This thread will be likely to become true if they knew who all the bitcoin users in that country also bitcoin security is very high not hackable. People in that county will start to hide their bitcoins for sure but if the taxes going well it is a good start again on bitcoin.

If bitcoin have their legalize in my country my it will be tax on it, it's good tho but don't get me wrong, all the tax thing was managed by some government, right?  So automatically there is some one incharge behind those and there is someone who will take responsible for the transaction if there is any mistake.

indeed all the laws that must regulate it, if it has not been legalized there is no basis for the government to levy a tax from bitcoin. but it is better if it is legal even though it is taxed but we are safe there is legal protection

Well if our tax has been monitored and it is organized then I am in favored that bitcoin will be taxable to my country. I believe that my tax is a great help to my fellowmen. I expect that our tax has not been used for any crimes just like corruption.

I hope bitcoin will not conductive for tax because we should be more agressive if the flow of bitcoin will not deducted by taxation so taht people will ne happy.

Some big countries like US are already imposing tax on bitcoin, it's normal dude because people are making money so they have to pay taxes.
Bitcoin is not a thing that can help us to get away from taxes, the government are greedy, they want money to improve their economy
so since they have the power, they can compel us to pay taxes or we will be penalize.

In my opinion, imposing a tax to bitcoin and the rest of the cryptos is a neutral decision by a procrypto government because i believe that taxing cryptos can protect investors and might even attract more investors as they feel safe investing in cryptos already.

Why not right? however bitcoin is not acknowledge by our country so there's no way for them to tax it. But it also a better idea though so everybody will be able to take advantage of it's ouput and this will also protect one's investment and could also help improve our economy.

Yes, it happens a long time ago. States this year should massively consider the issue of the status of the crypto currency, determine the rules for its circulation within the country and be determined with the taxation of the crypto currency. This process has already begun since the time in April last year Japan recognized the cryptsplatum as legal tender and will continue until each state decides on these issues. As long as there is no single approach to the solution of these issues, they will be decided differently so far. This process will be very lengthy and ambiguous.

Governments are furious about this, because cryptocurrencies and bitcoin are not being taxed in countries, and now that some countries have legalized bitcoin I am now pretty much sure that governments will take advantage of it and will be taking bitcoin in the taxes, I think its gonna be a fair thing since the government will be also get benefits from it.

This is not new at all, it has already begun in other countries once you sell bitcoins you should be getting taxed on it. Or once you have held bitcoin for over 6months you are due to pay taxes.

I think It could trigger a whole new trend of people fighting to see how to control the life of cryptocurrency
This interesting could be the following mass with this. South Korea is preparing the use of Tax bitcoin after trading volumes of cryptocurrency shaken by the sky.

I believe due to continuously increasing of bitcoin popularity the government might legalized its use in future, and in return transaction must be taxed to help the public fund.

Bitcoin cannot be taxed directly but the moment that you try to convert your bitcoin to fiat that is when governments will realize that you have a big amount of bitcoin and that you need to explain how you got it, they are not only going to charge you taxes they are probably going to try to charge you all types of commissions and fees for not revealing that income to them

I think, that there some pluses and some minuses for bitcoin and other cryptocurrencies in general about all this situation with taxes. So, basically, it will have come legally to trade bitcoin and other cryptocurrencies. But also info, that government will able to control cryptocurrencies, just killing all ideology of cryptocurrencies.

Government should not place tax on cryptocurrency because the popularity of bitcoins is growing due to its freedom from the government, another thing is that there are a lot of investors because of social media's who is keep on advertising different ico's.

To some some investors it may seem good to them but me it a wrong index,I believe the more higher in price bitcoin goes the higher the taxes and it may not be healthy for new investors.

I think it is okay that bitcoin will be taxed, because right now there are lot of people who knew bitcoin, and now there are so many people in different country is buying bitcoin, and i think the taxed that goverment will get for us is will be used for good thing.

Really tax on bitcoin? that is hilarious.Well on the  other hand maybe it will help governments all over the world to accept cryptocurrency because tax has been a major concern for governments regarding bitcoin.But am actually imagining how it will be like though.Let us see how the future will be like.

Well, it's expected. Due to continuous increase of bitcoin users transactions will also increase. That means several tax were not gained by the economy. Government projects will be delayed or cancelled because of lacking budget.

Or worst your benefits as well.