Bitcoin Forum

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

Depends on the policy of your country sometimes the country requires you to report it as capital gains or when you convert it to traditional currencies is when you need to pay tax and not by simply holding Bitcoin.

If your country does not tax it (or tax the profits) then they soon will be doing.

Depends on (a) your local government and (b) the amount and type of income.

In some countries, under certain circumstances, there's no tax on capital gains on Bitcoin. However if you accept bitcoins as a form of payment, depending on the amount, you very likely will have to file it as part of your tax report.

I guess if there is a capital gain tax in the country, gains from bitcoin fall under tax. When we talk about capital gain, taxation happens when the gain is realized - that is when the capital asset is sold. When you sell bitcoins for USD that you receive on your banking account, you can be asked about the origin of the money.  The question is, how can the government estimate your real gains from bitcoin: what was your cost of mining that can be deducted from the revenue received from selling it for USD. I'm sure very soon they will try to come up with a methodology of some sort.

Well if you are aiming to see a better community, I think this must be happened ,but unlike the other government should apply small taxes for this . We can that this can help our community to offer a local services with an improve type of system.

yes, bitcoin is like a job. we like freelancer here. promoting, translating, and other.
they can take little money from bitcoin, and i think bitcoin is buy and sold something (trade). and every trading in real or in cyber will be charged. bitcoin include that activity, so bitcoin need to be taxed.
and the problem in the government ;D

It depends on the country. Some countries will need that you report every single trade, including trades between altcoins which is insane I know, but I don't make these stupid laws.

Also in some countries you have to pay every month if you are making money every month. I had no idea about any of this when I got into bitcoin so I just focused in making BTC, then I found out about the taxing thing. I still have no idea how it works because this is so new that there are too many grey areas. Im scared to cash out some and get my account frozen by the bank, so I will wait until it's more clear.

Oh and in a lot of countries you must prove the origin of the funds. You can't simply cash out but demonstrate that you made the money legally.

why are you so sure in this?

why would any country turn down tax?

bitcoin might have a free pass in certain countries because they haven't bothered to devote any real effort to it. once they do they're likely to categorise it so it can be taxed. that's what governments do.

if they don't then you live in a great country.

why it should be taxed depending on the amount and type of income?

Some countries already enforcing the law of taxing bitcoin, and I think it's unfair, they should only tax all merchants and other big companies. If they impose this regulation on the people who signature campaign dependent it is unfair. I think the regular job is enough for tax contribution, also government doesn't own bitcoin so why putting tax?

I don't like the idea of bitcoin is going to have a tax it is painful to give a part of your earnings to the government, especially if you have already a regular job and you only use bitcoin as a sideline.

They can only tax if we pay and keep using KYC exchanges rather than decentralised ones.

Also most people won't meet the tax thresholds anyway.

And...

It's not money until it's cashed out, go to Monaco for a year if you're making millions.

I always wondered why people are so interested in such questions, how quickly would the government have imposed taxes on bitcoin. Can you give even 5 years to trade safely

Again it depends on where you're at. If you're alt trading then you might well be liable for CGT even if it's never turned to fiat in certain countries. They can regard each trade for something else as a disposal. They may also decide you're that active that it's your income and hence taxable.

It's a right old mess.

Whether to pay taxes or not depends on the regulation of the country you are living in. Hence it is better for you to check your country tax law to avoid getting into trouble.

I understand some countries have capital gain tax and some countries tax when you earn profit from your investments.

Bitcoin do generate a job for those people who do engage with it but since it is not regulated yet on most countries then I don't think that we are obliged to pay up taxes this is why we should really cherish those moments since we can able to get our profit or income as a whole without any deductions compared on having a day stable job on normal life.

I think if a country has officially legalized bitcoin it will definitely be taxed and that's for sure, but if the country has not inaugurated the tax and so many bitcoin users the government can not do much including provide tax rates.

It depends on where you live and status of Bitcoin your country. I think bitcoin have to be taxed only when you cash out it to fiat. If you holding bitcoin and altcoins, mining it, freelancing for bitcoins and doing other activities, you don't have to pay taxes. But when you decide to exchange your crypto assets into fiat and these money exceeds certain amount treshold, you will have to pay capital gain tax. But I can't guarantee, because laws and regulations are very different around the world.

It depends upon from which country you belong, many developing countries dont have enough resources to add tax on bitcoin related activity but most of the developed countries are already taking taxes on all bitcoin related income.

However geting rid of any possible taxation in bitcoin is quite easier as anybody can trade bitcoin anonymously without getting under radar of government.

Doing contract killing gives you income but is it job? Do we tax Killing Bounty income?
Earning Bitcoins isn't come under economic jurisdiction of most of the countries. You can send, receive, hold, trade as many Bitcoins as you want to. But where problem actually comes is while converting them to fiat money. As according to law of all countries, when you sell or buy Bitcoins, such activity will be considered economic one. Depending upon your countries laws, you have to pay tax.

In my country it is not the bitcoin thta is being taxed and regulated by the Central Bank, it is the company or the businesa that accepts bitcoin as payment. The central bank regulates it for the purpose of avoiding irregulailrities in terms of legality. In my personal opinion I wouldn't want bitcoin to be taxed because it will set limitations in the industry, btc is created and deaigned as decentralized cryptocurtency. If it will be tax imposed there is a chance that it will be abused and can affect our btc earnings.

If bitcoin will be considered to be a legal tender I guess it is just and right to imposed tax on any income out of bitcoin but since at this moment it is not control or regulated by laws and government putting tax is not a fair thing besides whenever we use our income to buy things there is already VAT so for me no need for bitcoin to be taxed

Well, as our countries has it's own laws regarding assets, and undeniably governments regulated some  local exchanges so I think tax is also implemented automatically when the time we convert Bitcoin into fiat money or as long as Bitcoin is accepted in a specific country. Since Bitcoin is a valuable asset I think yes and I have no problem with tax as long as it will help to make some improvement to the country and if it is with a reasonable amount but I know a lot of people don't like it due to additional transaction fees which is way too high these days. Here in my country it has already been implemented and as I have said tax plus transaction fee is alarming since it is now hard to earn Bitcoins due to high price I am not able yo buy candies anymore with BTC. I mean it's not good to pay with Bitcoins now if your amount due is only below $3. ;D

All productive ones can be called jobs. Because we are looking for income in Bitcoin as well by doing the job even though it only requires computers and internet network, and we are also required to work on projects that we follow.
So I think it works even though our other people's views do not do anything. remain optimistic will produce maximum results.

Most governments tax any sort of income you have. Speaking about other, traditional investment instruments, the money you make off of them is taxed as well, so why not bitcoin? I do realize this is easier said then done due to the unique features of bitcoin, but it shouldn't be a surprise to anyone that governments want to tax bitcoin.

yes, bitcoin is like a job. we like freelancer here. promoting, translating, and otherthey can take little money from bitcoin, and i think bitcoin is buy and sold something (trade).Also in some countries you have to pay every month if you are making money every month. I had no idea about any of this when I got into bitcoin so I just focused in making BTC, then I found out about the taxing thing. I still have no idea how it works because this is so new that there are too many grey areas. Im scared to cash out some and get my account frozen by the bank, so I will wait until it's more clear.

Bitcoin doesn't need to be taxed because when you convert your bitcoins to flat or traditional currency and you bought some stuffs from it you are already paying a tax but majority of the countries in the world want to put tax on digital currency because of too much greed of this evil peoples, specially in my country where our taxes goes straight to the pockets of politicians.  :)

I don't think bitcoin should be taxed, it's going to be taxed on your personal account, but you're going to lose money and nobody's going to tax you.

Indeed, There is already taxes when you are going to convert your BTC to your own currency while many people are using bitcoin because there is no tax on bitcoin still. People are leaving using of bank because of their high taxes. So if bitcoin can also start taking tax then i think it will lost their some of customers which is not good for future of BTC.

Like any other activity of a person that generates income, the income of each citizen from the occupation by crypto-currency the state has the right to possess a tax. It's another matter how the state can control this process, because such a citizen's activity is difficult to control, given the relative anonymity of the crypto currency itself. It can be the introduction of tax collection for all persons exchanging the crypto currency for fiat through exchanges, exchangers, banks and so on. Also, the state can use other forms for this, as well as oblige every citizen to voluntarily declare their income from operations with crypto currency.

I think there is a real need for a tax on cryptocurrency, which is a huge industry, and it should be taxed as a country.

It depends on the country you are in. In united states and united kingdom, they have made laws to tax the bitcoins use. Also, when converting your money to fiat you still get a bit of tax from banks when you withdraw your money.

I think bitcoin will be taxed. According cryptocurrency news update, Bank goverment in may countries want bitcoin in regulation system.
 

Already some countries have implemented taxes for bitcoins income but I am wonder how can bitcoin can be taxed?

No one knows right how much bitcoins we have,then it is impossible to implement taxes for bitcoins.

There are sort of jobs that can be done through bitcoin and one of it is being a trader and if you are thinking that if you are earning through bitcoin and you will be taxed. It all depends on the taxing agency on your country if you will oblige of doing it or you can voluntary going there and just declare that you are earning through bitcoin. And as regulations come from the government, it's expected to see it coming.

In a democratic system, it is said that everyone has to contribute to the growth of the nation and collectively build a stronger economy. However, disruptive models like Bitcoin can change the traditional system of this process. I am sure most of the people have no issues with paying appropriate taxes but they are concerned about the method through which they are been taxed. I believe surplus amount/profits should be taxed at a normal rate but there should no control/intervention from the governments in holding the wealth in cryptocurrencies.

"does it need to be" is a hard thing to answer. and it will be a whole different kind of discussion about taxation and what are the things that should and should not be taxed in general. which has nothing to do with bitcoin but with the taxing policy of different countries.

but bitcoin is considered different things in different countries. for example US considers it a commodity and treats the profit you make differently. but Japan considers it a currency and treats the profit somewhat the same but when you use it as a currency you are not forced to pay any taxes.

Its depends on the policy of the country like in our country if we change them in our traditional currency then for sure we have to pay the tax. And i think its fine, because in this way we can earn white money in huge amount.

This is very difficult, because basically the government can not monitor how much you earn and how much wealth you have in bitcoin.
Maybe this is the purpose of making bitcoin so as not to pay corrupt people in government. Another thing if the government knows your income.
Well, if they know and you do not pay taxes you will face the consequences of them as corrupt people against taxes.
If the government can accept bitcoin and legalize bitcoin as a good citizen, everyone will pay taxes.

It doesn't need to be tax, but if our country can profit from bitcoin transaction and the likes, they will put a tax over it...
They are wise now a days too, haha

The Government want it to be taxed, but they just can't. Bitcoin is a decentralized network,  which mean it is untouchable, and I bet some of the politicians are annoyed because of this. Bitcoin have so many disadvantages and one of it is this decentralized network, unlike fiat, bitcoin is more better to use and to earn.

In my country as long as it gives you income then it should be covered on your income tax.

In my opinion I do not think Bitcoin should be call a job. Earning with Bitcoin is not certain and you cannot consider it an income unless you sell it.

If you are trading then it will be the same unless you convert it to FIAT it is still not an income

So for me as long as you are not yet converting it to FIAT then I do not consider it as an income and should not be taxed.
 

The bitcoin is not need to be taxed because bitcoin did not gove any hasstle to tje governement.There is no property for bitcoin to taxwd for.So bitcoin is excemption for tax.

Для Укpaїни цe дyжe вигiднo, oпoдaткyвaти, нaзбиpaти гpoшi i вiдмити. Bзaгaлi з тaким нe згoдeн,, кoли дepжaвa тiльки зaбиpaє в людeй i нiчoгo нe дoпoмaгaє.

If there is a means of doing it, I suggest it should be taxed. People are really getting rich with it

if it can be done in every country, why not do it now !!! I think it will be good for world economic growth and especially bitcoin, because if the whole world recognizes bitcoin, then obviously, bitcoin will be the digital currency for the world. but the problem, bitcoin can not be controlled, whether the government can take tax in this case?

Bitcoin is something like job or business, but it is not falls under usual definition of these terms. I think it should be taxed, as it is income, and it will be profitable for country, but the tax regulations should be clear. besides, it is unavoidable, as currencies are more and more popular in the world.

In my opinion, there is no need for Bitcoin to be taxed provided that it is being used as a means of payment in parallel with a "normal" job that pays taxes itself. The big thing that makes this a challenge, especially for various countries like Canada, is that they tax it like it has capital gains. If someone gets paid in Bitcoin, does this mean they're taxed the 50% that capital gains normally would be? Are they taxed on it as income and then any increase/loss from the market moving as a capital gain/loss? It's not exactly something that is easy to understand based on the current codes.

yes, I say that this bitcoin is a profession, and for me especially bitcoin is my primary job. on bitcoin taxes.
I will pay taxes if my country's government legalizes bitcoin as a means of transaction, if it is still illegal, why should I pay taxes?

I always wondered why people are so interested in such questions, how quickly would the government have imposed taxes on bitcoin. Can you give even 5 years to trade safely

Bitcoin doesn't need to be taxed.. But if the bitcoin will be taxed in our country, I think there's a good effect if bitcoin is taxed too..

bitcoin no need to be taxed but it defend to your country... some countries has there laws rolls and regulations...

Never Not only Bit coin but also all crypto coins are decentalize,So government can't control crypto system. So Bit coin no need to be taxes and rules and regulations in government.

Sad to say but i think it needs to be taxed. I think it is the main reason why government on other countries ban or illegalize it. Based on my knowledge, even earnings from a lottery can also be taxed and passive incomes on investments too.

Whenever bitcoin is bought, sold, or traded, there are tax impacts. As example USA, which Bitcoin has been legally, policy tax are regulated by IRS which are any people who doing transaction using Bitcoin must convert the Bitcoin value to U.S. dollars as of the date each payment is made and keep careful records of it. This happen also for miners and exchanges market who gain profit from Bitcoin.
So, i guess other countries who ready accepting Bitcoin and legally it, need studying case from how IRS controlling tax.

no but in trading you just like paying taxed because of the gas and other but its not a tax at all because its not a job.

Taxation depends on the officials who handles laws for taxes. It is true that bitcoin can be a job because it gives us incomes but most of the countries in this world are not handling bitcoin as part of their government so the government don't have the right to give tax on bitcoins. I am not thinking that bitcoin will have tax because the transaction fees are very expensive and if it has tax the fee will be more expensive and our income will be less and bitcoiners might decrease because of less income. Also, bitcoining is a digital job and it is hard to trace a person that is not paying that tax.

the tax is taken, because the tax is generated from a revenue, and our income is when we get a salary and already have provisions from the government. while the bitcoin is indeed salary but there is no government regulation and approval. so the bitcoin is not yet in the tax set.

The Directorate General of Tax affirmed that the taxpayer must also include the ownership of bitcoin in the property column of the annual tax return. If not include, then the property is found by the tax officer then the taxpayer can be threatened sanctions in the form of fines.

Maybe other politics now start making proposals that bitcoin should have taxed..because the value is getting up..

I hope not. We are already paying high transaction fees for transferring bitcoin to our wallet and the government doesn't hold bitcoin why would they put tax on it. :-\

I think Bitcoin needs not to be taxed, since there is no third party involve in every transactions so it needs to be free of the taxes that imposed by the government, bitcoin never uses facilities like in banks or a physical market, so for what is the tax?

Almost any activity that brings income to an individual or legal entity can be taxed and, as a rule, taxed. In this there is nothing unusual. In the case of crypto currency, the unusual is the difficulty on the part of the state to first determine the object of taxation and then monitor its implementation. However, I think, the states will find the possibility of collecting such a tax. While this issue is only being developed by them.

I liked bitcoin as a currency since it is decentralized, banks, government and other third parties has nothing to do with it but if bitcoin will taxed, I think that is unfair. We love using it because we are free from tax and other payments that will be deducted to our profits, expect the fees obviously. This is the first work that I have ever done without any taxes so I think bitcoin do no need to be taxed.

I think it is not necessary. but it all depends on each government in each country there are some countries use taxes but some are not.

If we look overall, I think BTC should be taxed. Although I know the tax amount is going to be deducted in our profit only but it should be taxed and the reason being is that it could only be taxed if government centralize BTC and thus all the illegal activities associated with BTC could be banned. As far as there is no governing body over BTC and everyone is using according to their work including terrorist so humanity comes first, before profit also, so there is no harm ni taxing of BTC.

Taxing on Bit coin is not easy as it seems because of its volatile behavior but some country have tried. Bitcoin is not yet
accepted in most of the government around the globe.So why they bother to only tax it??? If Bitcoin is accepted by governments , taxing on it will be fair. However my opinion is "Bitcoin should not be Taxed yet!" :)

If people will use actively crypto currencies and if they will be acceptable in public places, the government will lose significant income from taxes, and this might lead to the collapse of certain areas of economics, an in same cases may destroy state system as well.

Well i think it will be good. Since i read there are countries that banned bitcoin because they are afraid of it or such.
If money that comes from bitcoin get taxed, i think it will give benefit to everyone, the user and the government.
The government doesn't need to complain and feel threatened again, they will get money from the taxes for country's need. And the bitcoin user can continue making money from bitcoin, because bitcoin is not banned and they still have bitcoin as a job or source of income.

My opinion is that nobody's earnings shall be taxed..... This way I feel like I have a huge parasite that is slowly sucking on anything I earn and I get nothing in return. OK, maybe your countries are more advanced and better organised and have more honest governments, but here it is little what we get in return.

However, regarding the Bitcoin, or any other crypto, I believe it depends on the individual governements and how they categorise earnings. In some countries Bitcoin is considered to be a product, in some it is the asset, and in other a financial instrument. Now it depends how they treat products, assets and financial instruments. In our country since 1.1.2016. when you cash Bitcoin (convert it to FIAT) it is the moment when it is treated as capital earning and has to be reported in the tax return form. The tax is 12% or 18% (40.000 EUR being the boundary between the two (less, if less).

For me however "the feeling" is not right. It cannot be called double taxing because the tax is applied only on profit, but still it doesn't feel right.

Theres no one operating our community,no one is getting touched the BTC's price,no one is regulating why do it need to be taxed? taxed for what?

For my country if the government wants to levy taxes from doing bitcoin I must first recognize and allow me to use bitcoin as a legal currency and treat it as a legitimate job then I would be willing to pay taxes.

Of course Bitcoin need to be taxed turning your BTC into fiat. Even some countries don't have such a regulations, anyway improvement in you financial situation will be classified like a capital gain or the income from the activities (in our case from mining/trading).

It can also be said that investing in btc is becoming a job. and most transactions are paid, whether by transferring coins to exchanges or purchases. If the income from investing in btc is taxed, I think the profit from the investment will not be much for us and the newbie apply to this job which is difficult. That means the amount of users will decrease.

Income is taxable always, you might earn from contract killing but if you’re caught you dont just get a murder charge, you also get IRS on your ass

Which country is that? Seems like a good country if they recognise cryptocurrency as a currency instead of just fuding on cryptocurrency like other countries

It’s not considered a legal tender in most countries though it’s considered an asset or more like a stock market investment

Yes I think btc need to be taxed because it is an income source, but it depends on rules in your country.

i think it does because it is a form of stock, or an investment and it might help alleviate the high transaction costs when it becomes regulated as a form of compromise. BEcause I think yhat if it gets tax and transaction fees are high then bitcoin will collapse

Any state has the right to tax any activity of its citizens, which brings a certain income. Since operations with the crypto currency are profitable for its owner, the state has the right to tax this activity with a tax. Many states already impose such a tax, including a country as loyal to the crypto-currency as Japan. Almost all countries in the near future will tax the activities related to the crypto currency.

Just like Stocks and any other speculative investments, bitcoin is should also be taxed,on eh short terms gains

Yup! It could become a source of income but I think it doesn't need to be taxed. I disagree to its taxation not because of being a greedy person or whatsoever.

in my own perspective, bitcoin or any cryptocurrency shouldn't need to be taxed at all because if it has been taxed by our government, it seems that we're now permitting them to influence and control it which I (We) don't want to happen. Besides, where is the sense of decentralization if someone controls it, right?

I dont think it is a good idea that bitcoin be taxed, and used to be one of the source of funds in the community.  somehow it is a burden to all bitcoiners at some part nay be a deduction, but still it depends to ruling country if they would tax or not.

The question is not about bitcoin needed to be taxed but does the government badly want extra income for economic and financial stability.. I won’t be surprised it will always be the used reason of government officials to do such act and to oppress the investors and bitcoin users.. I hope that any regulation will be fairly be managed for both parties involved..

Of course it does not have to be taxed. But the greed of some weak and oppressive governments will cause the BTC and other crypto investments to pay taxes in some way.

Bitcoins does not need to be taxed. It's open-source. Literally, no one owns bitcoins. No government nor country has the authority to tax bitcoins because it is owned by everyone. I think the only thing the government can tax is the fiat money equivaleny when bitcoins are exchanged.

I think there is no need to be taxed because Bitcoin is decentralized and it's an online currency.

No, bitcoin doesnt need to be taxed. It has been operating for quite some time. It was indeed very succesful and has helped millions of people earned big. So why it has to be taxed if it has already been working for a lot of people and it is proven to be a blessing to a lot of people without taxes. If sooner it will be taxed then it would not be favorable to us.

I am inclined to agree to charge me for my income from Bitcoin`s.
If the government approves this type of currency and does not consider it illegal.
So both sides will be happy :)

It depends on the country you live in and the rules set in place but i honestly feel like governments should not be involved in this and they should just stick to taxing conventional money.

If they are not taxing it right now then why should they taxed it in the future?

in my opinion taxation is the key to btc wide application and regulations.
the governments just want to make sure they have got all the necessary tools to tax it, once it is done, btc will be legislated and regulated.

If you ask me, I would not pay taxes for that. Yet Still, governments want to earn from everything,
so sooner or later we have to pay for that.

I don't agree. Since your premise is the "need" of it being taxed. I think that there is no need to do that; however, what urges countries and governments to do that is the fact that the cryptocurrency market has been unfolding to be a big-earning market. At first, many are quite doubtful and negative about it, with some countries even threatening to ban any activity related to it. However, since the past year, there has been a great attention and focal shift to the cryptomarket that helped in introducing the advantages it can bring to the global trade and investment market scene. Having said, many countries are seizing the chance to strike while the iron is hot and try to impose taxes on it, or at least, in parts they can to add some revenue to their government to improve their local economies. As they say, the government in each country is the strongest and leading business entity, thus, finding ways to earn more is always their priority, which can be done through taxation.

I think there is no need to apply bitcoin tax. The difference between bitcoin and other currencies is that it is not taxed. That's good for bitcoin users. They do not have to pay any taxes when using bitcoin.

It can't. The one regulating the income to be given to anyone is not under any government. So no one can tax the income you get from bitcoins. The only time bitcoin can be taxed is when the government or the country starts taxing the fiat conversions of bitcoins. That's the only time they can tax the conversion of bitcoins.

I think if bitcoin is to be taxed, then there should also be tax breaks if people make a loss when exchanging currencies, that is a fair trade off.

You should be able to offset your losses against your profits in your tax return, this is how it works for most other industries.

 

if you mean to work using a laptop, if that is your intention then in taxes are your income and even then if you have submitted to the government or your account has a lot of limits then it can be in taxes

I think until bitcoin is legal in the country and there is proper rules and restrictions applied on it tax is not needed, as the currency is not viewed as a source of income for the people in the country. But , if the country put some restrictions over it in order to check on the people about there income and its source then its obvious that the people of the country has to pay the tax . Still, bitcoin cannot be called as job as there is no fixed income it may come or it may not.

I think it should not to be taxed because the government dont have a power to control the bitcoin. And the government, any government and authority dont have a relationship to bitcoin which they should not taxed the bitcoin transactions.

quite debatable, but without taxing, governments will never support them because if not for cryptos, investors put money in something else and governments receive tax, but at early as this stage where there is huge risks when someone putting money into cryptos, I think governments should wait before tax is introduced, or least should have a min limit such that below it, no tax such that governments can indirectly help for mass adoptions, then as any business running with internet, governments can introduce tax, but the stories I hear about 30% tax in US is utterly rubbish, it should be much much lesser.

That's right, although there is no actual "need" for countries to do that. I think that if a country sees fit that it's a good way for them to earn more money and add revenue to the government, then it is well within their power to actually impose taxes on bitcoin use or cryptocurrency-related activities, in general. I think that since the crypto market is rising, it is already in the sights of many countries to try and exploit that continued rise by way of imposing rules and regulations with it with which one of those regulating means is taxation. It's the main means of any government to add profit to them for their own used and advantage, and given the value exhibited by cryptocurrencies, it not at all a surprise if governments would impose taxes on it.

I guess governments will only tax the profits, not the investment, and paying income tax on my profit is ok with me, paying tax makes me a law abiding citizen.

I think the transaction of bitcoin is taxable.
It depends on the policies of your country.
South Korea, for example, now has to pay taxes.
Other countries that are friendly to bitcoin do not have to pay taxes.

No for me bitcoin don't need to be taxed because government don't have the power to control it. There are so many users here that are working on it because bitcoin don't have tax. Others said that bitcoin needed to be tax because they want fair but I'm absolutely disagree to their opinion.

i think so,because bitcoin is more on money  discussion so its need to tax it so that government protect it from scammer.

Bitcoin can earn a lot of money. It removes people's unemployment. Bitcoin helps build the future. This is the best way to work online. Bitcoin became popular day by day.

Why? on my country, the goubern dont know about cryptos hehe

In my opinion, it is impossible to levy bitcoin taxes, manage transactions and income on the internet is not possible. Due to the lack of tax administration, some countries have banned the bitcoin trade. But in the future if the technology develops, maybe the government will have a way to manage taxes from bitcoin.

As in my country, right now I do not have a tax payment at the moment, and I can do it with the easy way to get a good profit, even though bicoin is currently not taxable. and I also hope someday bitcoin will be taxed, but for me no matter if taxed, maybe someday the government will acknowledge bitcoin, bitcoin will be taxed. so it's better for me if bitcoin is in tax payment so bitcoin is more popular anymore.

I think it depends on how your country treats bitcoin.
In South Korea, they have introduced new rules to trade bitcoins for a certain percentage of the tax.
In more bitcoin friendly countries, bitcoin is not taxed.

If you are a established company meaning you own a big amount of BTC and you render a service then you should pay your taxes based on your income as any other company. Any activity that generates a profit should be taxed, furthermore, exchanges as an example who are holding very large amounts of capital are at the aim of the governments. Taxes would be a middle ground between the dark and anonymous cryptoworld we are now and the world of the future where you can buy anything anywhere using a digital wallet.

It will be good in general for we benefit from our tax, from roads, bridges, parks etc. Also, it was a good news to the government for they will also gain profit from it.
On the other hand, it will be a burden especially to small earners like me. Some say that we are so desperate to gain profit but the reality is that profit really matters and serves as the major reason why they/we are still working here.

Bitcoin taxation depends on country's acceptance and how do they deal with it. But haven't you noticed that when  you withdrawn your bitcoin into a certain flat there's this called transaction fee or payment from where you have encashed. I think that it is some sort of tax already.
Another point is that it would be nearly impossible to apply taxation in bitcoin itself, since the accounts and wallets always remain anonymous. It would be hard for the government to identify whom they should be adding tax onto.

Depending on the policy of each country, sometimes the state requires you to report it as capital gain or when you convert it into a traditional currency, you have to pay taxes and not just by holding Bitcoin.

Not at all since bitcoin is decentralized which means the government don't have the authority to intervene on its transactions. But some countries are making a motion to taxed all crypto earners. So for now, let us just enjoy our tax free hard earned tokens.

I think there should be some taxed on bitcoin and that goes to the country from where user belong because in this way if many countries will start legalizing bitcoin and that will be a great step for bitcoin if bitcoin accepted as a legal currency in any country. But remember tax on bitcoin should be low then other currencies so that users can't face any problem while paying taxes.

Each countries have their own set of rules about taxation, bitcoin is not own by any country around the world, so the question will be depending on how each countries decide about this industry, from where am I, bitcoin still tax free as the government here doesn't have any control yet, they only give rules from  the exchange who's catering the transfer, but if ever the government will create rules about it I will surely complied and won't argue, better to help my country in a small way so we can build a better nation someday.

Not every country is the same, but generally government dont tax things.  They tax income, profits and sales.  With a few exceptions most taxes are under one of these.  So if you regularly (daily) trade bitcoin and make income, they tax your income.  If you make profit from holding longer term and make profit, they tax profit.  They tax the sales if you buy something with bitcoin.

They dont need to tax bitcoin because they already do.

Depending on the government policy in your country. If bitcoin can be said to be a real job then it is fine if the government implements taxpayer rules for bitcoin users.

For the moment, the problem is not so important because (I guess), there are not so many bitcon users earning the equivalent of a monthly wage...

But many government are indeed worried about that... And that's why they are trying to implement dedicated legislation.

So, indeed, if you earn money with bitcoin and don't pay tax on it, then it is a "loss" for your country and the amount you have is lost for national welfare (health, schools, and so on).

BUT at the same time, when you pay taxes on your wage, you generally go through a traditionnal bank. So you pay fees for... nothing.


So I understand your idea... And I think the objective is to reach an equilibrium.. For the moment, well I would say that individual taxes actually don't make such a difference in the state's budget (just because many large firms are also playing with the system, and the loss, here, is far greater).

Yes because it means government is accepting the legality of bitcoin. Once bitcoin is taxed it means its legit to do business with bitcoin. i believe that its fair to pay tax for earnings out of bitcoin.Perhaps a percentage tax can be paid out of bitcoin or alcoins earnings.

In next future i think some countries will going to tax bitcoin.. Its lot of money!

It depends on the country, but there are somewhere you will need to pay taxes when you sell your BTC. For instance, in Spain apparently, you will need to pay 16% once you make cash your BTC and put it in your bank account. 16% is the payment from 0 to 6.000 euros, 21% when you sell between 6.000 and 21.000, and so.
I don't know how Spanish government is going to manage the taxes, a mean, what kind of papers do you need to deliver to the institution, but I'm quite sure next year probably BTC is going to appear in some official taxes declarations documents.

When you holding bitcoin and stored into your wallet our government can't forced us to task or just asking task. Remember that bitcoin is decentralized no one big person behind bitcoin to manipulate or to control bitcoin. Taxation of bitcoin by our country is that impossible happen, but i think if you convert your bitcoin into your local fiat then if you are going cash out your money there's a transaction fees added in banks or other remittancies. And that's maybe your taxes paid or sort of being taxed.

I don't think bitcoins are needed to be taxed. It doesn't even needed to be regulated by anyone or any country since it's self regulating or rather regulated by everyone using or has bitcoins on them. I don't see why some government are trying to get their hands on the people's bitcoins.

To be honest I think bitcoin contains tax due to increasement of fees. Well as you see if your a bitcoin user, You might probabaly notice the high fee that is happening its like an tax our fee is like our tax increase or still stable it's still like a tax.


Our problem here is we see fees as fees not a tax if your wallet fee increase well think of it the head or creator of the wallet is using the increase payment fees in a government tax payment.

If people see bitcoin as a job well It's good it's a self employed job but don't think of it as tax freel,  remember you have fee that controls your transaction.

For the main question does it need to be taxed? Well well it already been taxed but not byet the government buy the head of the exchange wallet itself.



In this point of view.I think the goverment would so rich and bitcoin users will do gown from its original income without any taxes. See this if taxed is colaborated bitcoin incomes you will see its problem thats is increasement of fee and low income return.

I think that there should be taxes when somebody earns money.
Paying taxes is benificial for the society we live in.
And when the public sees that people who work with crypto currencies contribute their part in the well being of the society, I think it will help getting even more acceptance.

I believe that bitcoin should not be taxed. The commission that we pay for the transaction is quite enough. ;D

Not at all, but if the government will tax the coin well let them be and we just need to follow, the profit in cryptocurrency can be tax by the government because as a citizen they have the right to collect part of our earnings. tax is better than banning it.

as good citizens, we must abide by the rules of the country in which we live. one of them is by paying taxes. and for bitcoin users should also be taxed from what has been obtained. Thanks

No, because the original idea bitcoin decentralized and should not be taxed. Therefore, some states forbid it.

Depends upon where are you living. If you do think that applying tax in cryptocurrency would make a significant change in the government and in the country then nothing's wrong with that, but when a country is corrupted and most of the officials tends to apply tax to those poor people that doesn't have the capability to do so then it would be such a waste. Instead the thing we should do is somehow give somethings to charities to be sure that what we have given is served.

Taxation will allow the crypto currency to be established more quickly in the world and all states will favorably treat it. However, we already pay for the transaction, plus tax ... This issue needs to be settled by the creators of bitcoin.

Why tax something which the govt. doesn't recognize as of now.But yes in coming years,seems a possibility that earnings through BTC may be taxed.Entirely depends on your nation and the local govt.

Some country does not support/dont give legality for thats tax no need. Some country bitcoin is legal there are need tax or others fees. Most used currency bitcoin is deduction tax/trx fees from their wallet directly.

if Bitcoin or other cryptocurrency want to be acknowledged by the state then the tax should be enforced
and all companies that provide services exchange or buying and selling Bitcoin too.

In my opinion it really doesn't need to, but as people are making money by investing, it will be surely regulated and soon tax will also be implemented upon the earnings. Recently I heard a news, where our country has sent out notices to top wealth creators using cryptocurrency. I believe they have sent notices not just to have fun, rather I am sure Tax for investing even for using Bitcoin will be coming in front of us soon. Actually there is nothing wrong to be taxed, if a country makes it legal, they will have to tax on it. It will help boost the growth of crypto currencies and the technology as well. But yup it will somewhat hamper the motto or one of its USP, that is decentralized currency.

To be honest my friend, i really do not think that this thing you are talking about - does bitcoin need to be taxed, is really dumb(sorry to say this). Because obviously, bitcoins do not need to be taxed. I mean why the hell would bitcoins need tax? Just doesn't make sense if you ask me.

Yes, in every country the country collects taxes from all income of the population. But I'm wondering if this breaks the idea of bitcoin about decentralization?

while i do believe in descentralization i do believe that btc should be in some sort of reglementation. i think this is the best way to find a middle path.

In my opinion, bitcoin should not be taxed because bitcoin is a digital currency and a means of transacation, so I do not think I need to pay taxes from bitcoin.

I think bitcoin should be taxed now. This will reduce the effect of whales on the market.

That's the reason why most governments are currently regulating bitcoins and other cryptocurrencies in the respective countries because they know that it is a means that the government can really make some money as a result of imposing taxes on the selling and buying of bitcoins.

In the eyes of the government as long as its citizen or people living in their country earns profit in any way is taxable so for bitcoin to be taxed they will trace where people earn from it like through activities (salary/retainers), gains in the form of investments. For us of course it need not to be taxed because who wants to pay taxes anyway? but as a abiding citizen we should follow our laws and regulation so if bitcoin and other crypto is taxed we should just obey the government to avoid punishment.

In order to tax bitcoin, you will have to regulate and put on policies on all the crypto currencies. Once you start regulating, it becomes more like a centralized fiat currency and loses its features like anonymity. You lose full control of your coins and thus the main goal of crypto currencies such as bitcoin are destroyed.

The coin itself I don't think so, but I know (in the UK at least) you're liable for capital gains tax for any bitcoin you sell, its worth considering if you do plan on selling and make sure you utilise your tax free allowance

 Will for me taxes is not bad assets of government because taxes improve your country.They can build school , hospital , health center amd paying for those who work on government especially the pulis and the teacher.They good in ours.Taxes is good as long as its on good price taxes.If you pay your taxes you help your country, your family , and your self....

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They are planning to launch an option market linked to CME BTC futures and gate.io futures starting with knockout call and put options on soon to be launched crypto-trading platform http://debucks.io

Besides they will add reverse futures on US Dollar and Euro to be settled in BTC and ETH. I think we can trading cash (XRB. Cardano, BTC and ETH) and derivatives at debucks.io from 12th February, 2018,

Essentially no cryptocurrency should be taxed, because they have been basically designed as alternatives for people to put aside the current centralized and oppressive economy of current governments. Accepting the payment of taxes by our cryptos is basically accepting a theft by those who feel affected by the growing importance of our alternate economy, and we should do everything possible to hide our transactions using altcoins with a greater degree of privacy.

As much as I hate to admit it, it 100% needs to be taxed otherwise this industry will never be seen as legitimate. I don't understand why people fear tax or think it is a bad thing, because regulation and taxation is a great thing to see. It literally means that governments now understand they can't stop Bitcoin and cryptos so the next best thing is to tax it. Let that sink in people, we have won the battle. The war may rage on but this battle we have won and we all should be proud of that especially if you are a true die hard crypto fan 8).

It depends upon the country which we live whether it would be taxed or not.

I do not mind about being taxed in a near future, as long as bitcoin is still legal in here, i do not mind about paying a 5% or a 10% of all my earnings, since i am just earning without doing almost nothing (just reinvesting everything)

In my opinion, even if they tax on the transaction made or upon usage can be accepted. I doesn't want any of the countries to ban the usage of bitcoin as well other digital currencies in the name that these are making threat to the economy with the tax evasion.

I think it depends on your country ...if your country has used BTC more than it can be taxed otherwise it is not needed.