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Bitcoin => Bitcoin Discussion => Topic started by: Ray Magma on March 08, 2018, 01:30:47 AM



Title: Tax on crypto?
Post by: Ray Magma on March 08, 2018, 01:30:47 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



Title: Re: Tax on crypto?
Post by: carlisle1 on March 08, 2018, 01:50:01 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


in Arizona State ,government allow people to pay taxes using bitcoin,same as Gergia whos considering this to their state,so if government given as a chance to use our coin to pay taxes.then why not give government a chance to collect taxes on crypto,every profiteering that made by people requires tax,coz if not it will be considered as illegal


Title: Re: Tax on crypto?
Post by: endlings on March 08, 2018, 03:55:03 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


in Arizona State ,government allow people to pay taxes using bitcoin,same as Gergia whos considering this to their state,so if government given as a chance to use our coin to pay taxes.then why not give government a chance to collect taxes on crypto,every profiteering that made by people requires tax,coz if not it will be considered as illegal
In many cases, I hope the government will tax the bitcoin, which will make us feel relieved that even if the price will temporarily drop but then rise steadily, the lack of bitcoin is recognized by the government and the lucrative industry really needs to be regulated Or norms, or it will be full of all kinds of scams, illegal acts.


Title: Re: Tax on crypto?
Post by: pooya87 on March 08, 2018, 04:07:41 AM
it won't work because that means taxing bitcoin twice! that is why tax laws in countries such as Japan are like this. there is a tax when you "invest in bitcoin" which i believe is like capital gains (but not sure) so you are paying a tax for bitcoin once here. then if the country recognizes bitcoin as a legal way of payment or a currency they can not tax it again when you make a payment with bitcoin because you have already paid your taxes on your bitcoins so the taxes here will be 0.


Title: Re: Tax on crypto?
Post by: Ms Emi on March 08, 2018, 04:11:33 AM
Paying government contribution with the use of crypto and paying tax with it is just natural, since every transaction you made with them are with tax anyway, and let this matter be a reason for other countries to open up.


Title: Re: Tax on crypto?
Post by: jitenrajput on March 08, 2018, 06:21:54 AM
Cryptocurrency was invented with a motive to overcome the flaws of centralized currencies. The name behind the invention of world’s most popular cryptocurrency “Bitcoin” introduced it as “Peer to Peer Electronic Cash System”. If we pay tax on our fiat currency, then there is no harm in paying tax on cryptocurrencies. In fact, the countries which have accepted bitcoin and other cryptocurrencies as legal tender have already defined tax norms for the same. Many banks use Ripple for transactions.


Title: Re: Tax on crypto?
Post by: Putra969695 on March 08, 2018, 07:54:03 AM
if the government agrees with the existence of crypto as a gateway, it is ascertained that the digital currency is in effect, but now the government is still blocking the bitcoint and making negative news about the bitcoint, and I've read the government banning the investment in bitcoint. the state in bitcoint is now 50: 50.


Title: Re: Tax on crypto?
Post by: AlexAtom on March 08, 2018, 09:49:38 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



i don't really like the tax idea. we already taxed our fiat incomes.
when we buy bitcoin with our fiat which was taxed before, should it be taxed again ? so many taxed *sigh


Title: Re: Tax on crypto?
Post by: shulio on March 08, 2018, 10:32:29 AM
Yes the government may choose to accept crypto with tax but I wonder if anyone will pay if there is any tax must be payed.


Title: Re: Tax on crypto?
Post by: tanxingwo1215 on March 08, 2018, 10:45:56 AM
The use of encrypted digital currency in Germany as a means of payment is not required to pay taxes!

I think many countries should learn from Germany!

This will be conducive to the development of the digital encryption currency!


Title: Re: Tax on crypto?
Post by: bug.lady on March 08, 2018, 11:37:25 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



i don't really like the tax idea. we already taxed our fiat incomes.
when we buy bitcoin with our fiat which was taxed before, should it be taxed again ? so many taxed *sigh
Well this is how this world works, mate. First your income gets taxed. On top of that you pay social security and health security taxes. Then whatever remains you use to buy things and services, but with each purchase you pay additional tax (VAT, GST, they go by different names) on top of it. Whatever remains, you put into a bank or invest and then you pay a capital gains tax.

This is how the world goes, mate... It is crazy!


Title: Re: Tax on crypto?
Post by: gordeevaverona on March 08, 2018, 12:01:46 PM
Those countries that are legalized then of course have the right in the name of the state to take taxes with crypto. It will not be advantageous for them not to take them if they already control some part of the system.


Title: Re: Tax on crypto?
Post by: acha 1 3 on March 08, 2018, 12:14:57 PM
Yes, that's can be happen, after government legalize bitcoin and we need to pay tax for it I think that's fair thing. that's can't be a prolem for user bitcoin because that will be make easier to use bitcoin because bitcoin is legal, I'm agree with that's, and I hope my country can legalize bitcoin soon.


Title: Re: Tax on crypto?
Post by: Haley craft on March 08, 2018, 12:20:12 PM
I think this may be a trend, so we have to accept, but the bitcoin tax and imply that the bitcoin is legal, so is good news for the whole market, so I think I can accept that.


Title: Re: Tax on crypto?
Post by: richjohn on March 08, 2018, 12:25:33 PM
I think we still have to pay tax on the earnings (at least in my country). A tax of 33% is levied on income and since the profits that come from trading come under income, so tax would have to be paid.
But that's alright, unlike some countries like China where trading is completely blocked, my country still lets me trade.
I am waiting for the day when Bitcoin would be regarded as a legal tender so all the tradings can be done without hassle.


Title: Re: Tax on crypto?
Post by: PottoBit on March 08, 2018, 12:29:32 PM
in my country tax on btc and other crypto is subjected by the owner: Every one can declare how much they want, so mostly of times never one declared nothing


Title: Re: Tax on crypto?
Post by: Dudeperfect on March 08, 2018, 12:30:23 PM
As we all know, Bitcoin is global and hence it would be a trouble for citizens to prove that Bitcoin transaction took place within the country. On the other hand, practically I don't see any possibility of such thing other than levying a global tax on miners but again, there must be unanimous decision on a global level, which is rare.


Title: Re: Tax on crypto?
Post by: Dadan on March 08, 2018, 12:38:17 PM
It is possible that the taxpayers need to pay taxes to the government only, but if they only know about bitcoins, the government probably agrees with no taxation as long as they have a bitcoin position or have an account high and earn that they might be able to say yes. It's just that they know that maybe they will not ask for their account with bitcoin, but of course we have to agree that our countrymen are not just government officials.


Title: Re: Tax on crypto?
Post by: Red-Apple on March 08, 2018, 12:40:06 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

it sounds a bit strange to be honest because it is like saying if government allowed using PayPal but you had to pay taxes on each PayPal payment you made!
that is what a "payment gateway" means, or am i missing something here?!


Title: Re: Tax on crypto?
Post by: charlotte04 on March 08, 2018, 12:42:40 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



Yes, we do need to provide taxes for our country. We need to contribute so that our country's economy won't be down.


Title: Re: Tax on crypto?
Post by: burnchan on March 08, 2018, 09:24:00 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


Yes it is possible to have a tax on crypto. It a win win situation for both the government and the crypto community. This is because if this adopted by the government, more investment will be coming. Clear regulations must be imposed in order to benefit both parties.


Title: Re: Tax on crypto?
Post by: papasmurph on March 08, 2018, 09:48:46 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



If governments agree to use BTC as a means of payment, this will inevitably lead to fees, the question is what value.
I think it is quite possible.  :)


Title: Re: Tax on crypto?
Post by: canque31 on March 08, 2018, 09:54:48 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



If governments agree to use BTC as a means of payment, this will inevitably lead to fees, the question is what value.
I think it is quite possible.  :)


There's a big possibility that tax will be imposed to btc if it is legalized in the country. Even if tax will be implemented it would be a relief for we know Bitcoin is support by the country. Hence its trust ratings will increase.


Title: Re: Tax on crypto?
Post by: Clavulanic on March 08, 2018, 10:06:33 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



If governments agree to use BTC as a means of payment, this will inevitably lead to fees, the question is what value.
I think it is quite possible.  :)
Practically speaking, I'd rather go with crypto. Nowadays, it's getting tougher in the market when purchasing goods with higher tax added and everything and it's sickening me. And, now I am building my own family sometimes I'm worried about it because of the daily tax from government's lifetime procedure from work down to the food we eat. If crypto has a tax as well then I have to endure that too. Anyway, I have already experienced it from the usual situation. I hope no tax at all in crypto.


Title: Re: Tax on crypto?
Post by: AimHigh on March 08, 2018, 10:16:32 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



I don't think that they can put a tax to the cryptocurrency because as i know before they put tax they are basing on the  fixed amount of your salary of in the price but as we don't have any fixed amount here so how they do or put a tax and one more thing cryptocurrency was not hold by the government so they didn't control it so i don't think that they can put tax in cryptocurrency.


Title: Re: Tax on crypto?
Post by: yudhistira on March 08, 2018, 10:20:04 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


I think this is possible, but I do not know exactly how it will work. There are different options. But in any case, if governments accept BTC as a means of payment, they will benefit from it and earn money.  :)


Title: Re: Tax on crypto?
Post by: Cryptalking on March 08, 2018, 10:38:42 PM
I think higher tax would maybe be an alternative if governments realize they can not regulate the coin itself. Over here in the Netherlands you have to give up your total capital with to the authorities and they charge a specific amount depending on your total assets. hope i did translate that correct hehe  ;D


Title: Re: Tax on crypto?
Post by: rodel caling on March 08, 2018, 10:41:36 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



for me its okay to put an tax for every transaction using bitcoin, if this is away for crypto's become legal for every nation,
becuse every state have an regulation and laws about collecting of taxes, i understand for this laws because government get the expenses came from taxes to improve their state's infractures and beautication of thecountry.


Title: Re: Tax on crypto?
Post by: mevmike on March 08, 2018, 10:52:05 PM
It will be ok for me to pay my taxes to the government using cryptocurrency.
But i think as of now this may not materialize with the current systemwe have in cryptocurrency.
Governments will surely have a hard tracing all of tgis transactions nowadays.


Title: Re: Tax on crypto?
Post by: reynilynedago on March 08, 2018, 10:52:44 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


I think that's what some countries are doing as a regulation for the use of bitcoin. However, how are we so sure that the bitcoin taxation will go straight to government funds and not to some greedy capitalist's pockets? That's what needs to improve or fortify with the current taxxing processes in every country.


Title: Re: Tax on crypto?
Post by: Whibu on March 08, 2018, 11:23:40 PM
That might happen if the government uses the rules, and it is impossible for us to reject the government regulation if that is the goal, we can only follow the rules.


Title: Re: Tax on crypto?
Post by: Pansamantala on March 08, 2018, 11:40:56 PM
I think some countries are doing this. And it is no rare thing with bitcoin investments. I think it would be a good way to regulate bitcoin uses. However, we need to be sure that tge money taxed would go directly to the government's funds and not to some capitalist's pockets.


Title: Re: Tax on crypto?
Post by: karloscimot on March 09, 2018, 12:20:44 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


the first if crypto in tax imposed imposed by the government I strongly agree, especially in Indonesia. The reason I am so when people are cryptic about crypto to make it easier to answer it. and calculate the count also let there is conceded to our government .
the second if crypto is officially opened in Indonesia as a tool of transaction i really agree once .although our government is still in the stage of studying and exploring the deep crypto world for its people My hope is that the results of our government's study have had a positive impact on the world of crypto


Title: Re: Tax on crypto?
Post by: Blackhammer321 on March 09, 2018, 12:43:27 AM
Yes they can put tax on it as well as if they put laws and regulations on it. Consumer can't do anything if the government wants to u less its a democratic country. What they can do is a external laws which limits the bitcoin to people, vice versa.


Title: Re: Tax on crypto?
Post by: Meuh5598i on March 09, 2018, 12:58:22 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


I think for people to pay tax on crypto currency it should be done willingly. Other wise there is no way cause for the uniqueness of these block chain services its kind of make coin holders invisible in terms of tracking the person.


Title: Re: Tax on crypto?
Post by: Indah_twin on March 09, 2018, 01:04:50 AM
I totally agree with you. if crypto is in tax.my reasons for someone not talking or giving news of negative investments to the bitcoin digital world.


Title: Re: Tax on crypto?
Post by: abhishek273b on March 11, 2018, 11:29:39 AM
 :)  Yes, that's can be happen, after government legalize bitcoin and we need to pay tax for it I think that's fair thing. that's can't be a prolem for user bitcoin because that will be make easier to use bitcoin because bitcoin is legal, I'm agree with that's, and I hope my country can legalize bitcoin soon. :)


Title: Re: Tax on crypto?
Post by: yj300316 on March 11, 2018, 02:27:34 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



it is possible that crypto can be taxed, but i don't like the idea personally.
because they are already taxed us from our incomes. and they want to tax our digital currency too? Not cool.


Title: Re: Tax on crypto?
Post by: bobrova on March 11, 2018, 03:32:13 PM
it is possible that crypto can be taxed, but i don't like the idea personally.
because they are already taxed us from our incomes. and they want to tax our digital currency too? Not cool.

Why you want relaxation for this particular income. I see  it nothing different from other types of income and thus it should be taxed as well. There is only one difference that any government is not spending anything on the development or promotion of bitcoins and thus it might appear illogical to some people that they are taking tax for this income. But the problem is that if there is relaxation for a particular income source, all people will start keeping all money there. This also applies to big companies and they will start charging in bitcoins to save tax.


Title: Re: Tax on crypto?
Post by: liuqi on March 11, 2018, 03:57:41 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


It depends on the economic status of government because many poor countries also available in the world. But current possibilities is developed countries are implementing the legalization of crypto currency so compulsory they fix the taxes. If you earn fiat currency for one month you will invest your whole amount in crypto platform but government should collect the taxes for one time only and after invest in cryptocurrency they do not collect the taxes. But you are earn 2x profit in cryptocurrency they collect some additional taxes


Title: Re: Tax on crypto?
Post by: iram1011 on March 11, 2018, 04:06:56 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


Almost all of the major economies are taxing cryptocurrency income be it capital gain tax or special tax just for cryptocurrencies. Since, cryptocurrencies are pseudonymous, government is tackling this problem by getting the details by the crptocurrency exchanges. Today, cryptocurrencies are the market of $373 billion. The amount is huge enough that government can't neglect it. I see more regulations and taxing by more countries in future. Else, there will be a major shift of investors and traders to cryptocurrencies that governments all over the world don't want.


Title: Re: Tax on crypto?
Post by: jkinit2125 on March 11, 2018, 04:16:23 PM
Probably this question will still surely be having some debates in the future. In the sense that why taxed on cryptocurrency? Example why tax in Bitcoin? Bitcoin is somehow decentralized and it means nobody has control with it especially the government of any state or country. Then why tax it? We might should have this thinking that Satoshi might created Bitcoin to transfer peer-to-peer without paying any taxes at all. Because if taxes will be put into remittances, persons who transfers cash will suffer high fees. That might be the mindset of the one who creates bitcoin.

But to tackle this and even can be foreseen in the future, Bitcoin cannot be taxed but individuals having income through bitcoin can be taxed together with all their sources of income other than cryptocurrencies.


Title: Re: Tax on crypto?
Post by: ovcijisir on March 11, 2018, 04:27:04 PM
In my country you must pay tax when you exchange crypto for fiat, because it is seen by the government as capital gain. But to pay the tax on transaction it would be impossible, or it would require brand new payment system different system based on cryptocurrencies.


Title: Re: Tax on crypto?
Post by: Shenzou on March 11, 2018, 04:44:15 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


Well thats the only possible way that they can accept it, if we can use cryptocurrency directly to things from the supermarket or pay our bills with bitcoin or order food with it and pay like a small fee to the goverment it would be better for us to the through the process of exchanging it to cash which can be a pain in the ass and costs a lot, however recently germany has stated that they are accepting cryptocurrency and they will not taxes, so hopefull we will see other countries flow up.


Title: Re: Tax on crypto?
Post by: Beremat on March 11, 2018, 04:58:50 PM
in my point of view, the governments in the world will accept  and tax in crypto in near future. the development of crypto is the truth, no one can deny and it will become the official currency.


Title: Re: Tax on crypto?
Post by: gantez on March 11, 2018, 04:59:13 PM
Tax charge will be a natural thing that will happen if the government decides to openly accept crypto currency as a payment instrument. This is not to be debated at all if the government moves in. It will be another means of income for the government and they would never turn off their eyes.


Title: Re: Tax on crypto?
Post by: cosmoo on March 11, 2018, 05:01:34 PM
I think it's OK. I don't mind if my country will totally support cryptocurrencies but will impose taxes. So I will not be unamployed officially.


Title: Re: Tax on crypto?
Post by: taiwww on March 11, 2018, 05:05:13 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



Whether they accept it as payment mode or not it is sure that you have to pay all the taxes at your will. You can not hide your bitcoin income and if you do so then surely it will be your loss at all. Though they have not declared it officially but it does have to be on your own to pay the taxes. Payment gateway with tax would be just official declaration that you have to pay the taxes at any terms and thus making it mandatory.


Title: Re: Tax on crypto?
Post by: tee-rex on March 11, 2018, 05:07:30 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

As a payment gateway to what exactly? Mind elaborating on this one? If you mean making business with bitcoin, that's what companies like BitPay and CoinGate are already doing. They receive payments in crypto and instantly convert coins to fiat (dollars, etc) which merchants accept as payment for their goods. If you mean accepting crypto for public services, it is unlikely to happen any time soon since this effectively means accepting cryptocurrencies as legal tender (with which you can pay your taxes). Well, at least not a very far cry from.


Title: Re: Tax on crypto?
Post by: roshanface123 on March 11, 2018, 05:14:12 PM
What if the government agree to use crypto as a payment gateway but with tax.

Is it possible?


I don't think it's fare.The government accept bitcoin as a payment for tax its okay but impose a tax on bitcoin is not an acceptable thing for everyone. I doubt that the transaction of a crypto if a crypto user are strictly confidential and secret for everyone,then how they find that one have crypto investment?


Title: Re: Tax on crypto?
Post by: Lodipetmalu on March 11, 2018, 05:18:33 PM
If we want the bitcoin to be accepted worldwide, then it should be approved by the government first, the consequence of it is that it will be subjected to tax. It will less our income however, we will a long term benefit because in the long run, bitcoin will become stable.


Title: Re: Tax on crypto?
Post by: fokinlipat on March 11, 2018, 05:33:04 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



You mean an additional tax after the mining fees. These things will affect the mass adoption of bitcoins as a payment system negatively. With so much tax on each transaction, people will simple move to alternative payment mediums that have less tax. Also, bitcoin transactions should not be taxed by government as government has played no role in the development of bitcoins. They do not have the right to collect tax on these transactions. However, I think that tax on bitcoin profit is fine otherwise we will see criminals and corrupt people spending all their money in crypto.


Title: Re: Tax on crypto?
Post by: artemyudin1994@yandex.ru on March 11, 2018, 05:51:34 PM
I think that in any case, the tax will be, because the state will want to make money on it. Now only they do not particularly understand how to tax it, but in a year or two there will be a tax.


Title: Re: Tax on crypto?
Post by: jayhawk1 on March 12, 2018, 06:12:36 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?



it is possible that crypto can be taxed, but i don't like the idea personally.
because they are already taxed us from our incomes. and they want to tax our digital currency too? Not cool.
But that would be a better way to legalize bitcoins. Actually somehow governments have justifications for bitcoins only for the reason that they can’t be controlled by them as bitcoins are decentralized. Taxes on bitcoins would cause a better impact on general public as it would help government to take positive steps for legalizing bitcoins. So if we want bitcoins, we have to accept taxes on them.


Title: Re: Tax on crypto?
Post by: barabut on March 12, 2018, 06:17:37 AM
There should be a tax implication on bitcoin, it would also help to save our ecosystem from scammers mainly. If we make a profit it is fine to pay a tax on it, and the government can regulate not the market but the players.


Title: Re: Tax on crypto?
Post by: tee-rex on March 12, 2018, 02:12:28 PM
in Arizona State ,government allow people to pay taxes using bitcoin,same as Gergia whos considering this to their state,so if government given as a chance to use our coin to pay taxes.then why not give government a chance to collect taxes on crypto,every profiteering that made by people requires tax,coz if not it will be considered as illegal

It is a recent news I had heard few weeks ago and I'm hoping that it could also spread out to more countries in USA and because of these taxes, rather than panicking due to regulations it could encourage more people to buy depending on how fair the taxes are inside the profit margin they get from investments and for the miners. Another is it shouldn't just be a tax because of approval of its legitimacy to the country but also consider supporting it by making platforms for traders to trade safely rather than depending on some different exchanges that could still be vulnerable to hacks.

Are they actually accepting bitcoins or using a payment processor like Bitpay, while effectively accepting only dollars as before? If the former, that would be an interesting development, though somehow I can't believe that. It would likely require making bitcoin into legal tender at the federal level first which is unlikely. Anyway, can you give a link where there's more info about this case?


Title: Re: Tax on crypto?
Post by: jhonjhon on March 12, 2018, 02:28:30 PM
Bitcoin payments are accepted already in some countries but not in doing transactions with the governments, not unless they accept it.
Growing development of bitcoin and its widely used in different areas will encourage everyone to adopt these new generation of currency which really help to fasten and being productive.


Title: Re: Tax on crypto?
Post by: handsomes on March 12, 2018, 03:05:00 PM
in a different countries it will tax on crypto but in the my country we do not have to pay tax but i don't know why are there no taxes given by bitcoiners here in the philippines.


Title: Re: Tax on crypto?
Post by: Kprawn on March 12, 2018, 03:11:23 PM
The best way to tax Bitcoin would be VAT. Why?... Because with VAT, everyone pay. Even the prostitutes and the drug lords.

All the things you buy gets VAT added, so there is no way for you to escape paying taxes. What we have seen is countries like

Japan saying that they accept Bitcoin as a currency, but they are milking it for extra high taxes. The taxes is then used as a

punishment to discourage people to use it.  >:(


Title: Re: Tax on crypto?
Post by: OhhaniMaria on March 12, 2018, 03:13:21 PM
Yes. Because the only thing that our government has to function properly is to all its people who work for our country and their salary comes with the payments in the tax. So That really obvious that users of crypto should be pay a tax as a returned :)


Title: Re: Tax on crypto?
Post by: criz2fer on March 12, 2018, 03:24:51 PM
The best way to tax Bitcoin would be VAT. Why?... Because with VAT, everyone pay. Even the prostitutes and the drug lords.

All the things you buy gets VAT added, so there is no way for you to escape paying taxes. What we have seen is countries like

Japan saying that they accept Bitcoin as a currency, but they are milking it for extra high taxes. The taxes is then used as a

punishment to discourage people to use it.  >:(
If VAT already exist in a county, then the price of commodities when you buy something with bitcoin already compensates our taxes even the price are volatile. Therefore no need to tax the bitcoin owners.


Title: Re: Tax on crypto?
Post by: repsol on March 12, 2018, 03:29:58 PM
could the government apply the tax for crypto, in my opinion not all governments will apply taxes, because today many countries still have not legalized transactions using crypto


Title: Re: Tax on crypto?
Post by: yonghaseo on March 12, 2018, 03:31:45 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


Everything is possible if both parties will do together and showing good transparency regarding the policies to be mandated . It will easily accepted once both has mutual benefits and ended up with fair policy given. Nothing to be worry if everyone has a role and right to know.


Title: Re: Tax on crypto?
Post by: ivakar on March 12, 2018, 04:10:50 PM
yes, there for sure will be tax on bitcoins, we can see it already be government's actions
they already threat to exchanges by legal actions if they will disclose the names and the trade volumes
and I'm quite sure this is the beginning only... it will be much uglier soon enough, imho


Title: Re: Tax on crypto?
Post by: Brito on March 12, 2018, 04:46:52 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

I think it's possible and not so illogical if it happens to have a tax. But if governments accept BTC for a payment I think its price will jump to the sky again.  :)  ???


Title: Re: Tax on crypto?
Post by: tekusa on March 12, 2018, 05:09:30 PM
could the government apply the tax for crypto, in my opinion not all governments will apply taxes, because today many countries still have not legalized transactions using crypto

In India, there are no separate taxes yet. The only taxable rules that can make bitcoin fall under it in the Section 55A. However, the income tax rules demand amendment as there are no capital gain taxes involved in self-generated assets. This clause makes it even more doubtful for the investors to know whether bitcoin trading falls under any regulation or not. However, bitcoin mining falls under the taxable income for every exchange that sums up to 1 percent, yet investors are in the air of doubts.


Title: Re: Tax on crypto?
Post by: myanti55 on March 14, 2018, 04:51:19 AM
If government agree to use cryptocurrency, then it will no problem to pay tax on it. Because many such things we pay double tax for that and this is our income source. So if government charge tax on it, I never mind also.


Title: Re: Tax on crypto?
Post by: Btcvilla on March 14, 2018, 05:06:09 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?




this is certainly true for some fairly advanced countries and has legalized bitcoin.
I have absolutely no objection, as long as it suits and does not harm us as investors, traders or people involved in crypto.


Title: Re: Tax on crypto?
Post by: Harper6 on March 15, 2018, 09:30:01 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?




this is certainly true for some fairly advanced countries and has legalized bitcoin.
I have absolutely no objection, as long as it suits and does not harm us as investors, traders or people involved in crypto.
It is good for bitcoin investors as it will legalize bitcoin and this thing will show the interest of government in bitcoin, paying tax is not the big issue if it is increase the demand and the price, investors will trust bitcoin as they will know the government is also involved bitcoin. tax will increase the bitcoin improve the value of bitcoin and it will be highly increase worldwide, bitcoin will be global currency if  we will pay bitcoin for all kind of goods we need in life.


Title: Re: Tax on crypto?
Post by: Chaki on March 15, 2018, 10:07:04 PM
It would be possible only if the government can access on every gateway, like being part of it or owning the gateways itself but as for now they can't so let's enjoy every transaction without tax.


Title: Re: Tax on crypto?
Post by: kingcrypto-the2nd on March 15, 2018, 10:51:12 PM
i think as far as money is made it should be taxed thats how most societies survive,from the government's body language that's what they guning for.tax on crypto and regulation.


Title: Re: Tax on crypto?
Post by: andreijoaquin on March 15, 2018, 10:55:02 PM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


I have no problem with that since bitcoin is consider to be a currency and all earnings needs to be taxed to supporr government expenditures, and aside from that bitcoin was also made to help the economy to grow so if imposing tax will make bitcoin legal around the world or even in my country I will surely support government's decision.


Title: Re: Tax on crypto?
Post by: akdperry on March 16, 2018, 03:01:45 AM
why I don't understand is how you can pay tax on something that rises and falls as much as bitcoin and other cryptocurrency.  how can it be fair if you post earnings of say, 10k, then all of a sudden it's worth 3k.  the volatility of the crypto world should not be taxed. it was never intended to be taxed.  keep the government out of it


Title: Re: Tax on crypto?
Post by: Freezingel on March 16, 2018, 03:10:32 AM
What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?


I have no problem if they treat it same as stocks and they decide to allow it. You will pay tax if you earn from your trade or you will report it as loss and don't have to pay tax. The government stance on crypto will change a lot of things if they decide to support it and i believe a lot of people won't mind either.


Title: Re: Tax on crypto?
Post by: levvv on March 16, 2018, 07:18:28 AM
This is not necessary to exist. tax is already done to our fiat.
we buy bitcoin and cryptocurrencies with our fiat currency,
then why it must be taxed again? it will be double taxed.


Title: Re: Tax on crypto?
Post by: NoiBuonKTen on March 18, 2018, 09:23:21 AM
I don't think any country can tax BTC or trading operation


Title: Re: Tax on crypto?
Post by: cunese on March 18, 2018, 10:49:22 AM
It is a good thing to pay tax on cryptocurrency, since the payment of the encrypted currency is the formalization of the cryptocurrency.



Title: Re: Tax on crypto?
Post by: Ahimoth on March 18, 2018, 10:55:02 AM
It is a good thing to pay tax on cryptocurrency, since the payment of the encrypted currency is the formalization of the cryptocurrency.



I don't actually think that this is a good  idea since bitcoin's  one advantage over fiat currency is its freedom from the centralized control of the government.  And also the value of bitcoin is very volatile, fluctuating up and down. With that, it would be hard to make rules on tax with that characteristic of bitcoin.


Title: Re: Tax on crypto?
Post by: AriannaSantosUU on March 18, 2018, 11:22:36 AM
If bitcoin will be tax, the amount will be an additional fund in their government. If that happen, bitcoin will be formally recognize globally. No more problem in our end.


Title: Re: Tax on crypto?
Post by: akmittal on March 18, 2018, 11:26:50 AM
It is possible to use by paying tax on it, may be adopted by the governments because governments need money(tax) with the every financial activity. It will be batter to implement cryptocurrency by taking tax on it because Crypto currency can not be stopped by any way.