Bitcoin Forum

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

You don't have to be a registered company, but there can be advantages if you are. For example mining coin can be taxed as income and have tax benefits if you are a company because you can write off a ton of expenses like electricity cost or cost of equipment ect.

When it comes to trading the question to your answer can be pretty broad, if you are serious about trading you should do some research first and be prepared.

When you make profit it will be considered capital gains, either long or short. Long term is more than 2 years (I think) and short term is less than that. Long term capital gains is like %10 on only your gains. Short term is more, I think 20%.

It will also depends on your country, in the USA we are expected to pay taxes on crypto to crypto trades, so you should definitely keep good track of all your trades.

If I were you I would skim through this reddit post, there is a lot of good information in there:
https://www.reddit.com/r/CryptoCurrency/comments/7nzqky/2017_taxes_we_need_to_get_serious/

if I personally do not pay taxes from my trading income, because I think trading is still illegal in my country so there is no reason for me to pay taxes.

Cryptocurrency traders are usually only required to pay taxes on their profits, however it is quite difficult to track how much profit these people are earning, therefore there is a lot of scope for underestimation of tax owed, whether intentional or otherwise. However, a lot of exchange actually report directly to the IRS, so it might not be long until they get an unpleasant surprise.

You don't want anyone to ask you for taxes for your trading since you can obviously lose sometimes. But I know that trading platforms do pay taxes and those platforms costs you fees for taxes.

I think it depends on tax legislation of their citizenship. In Belarus for example, crypto is out tax, you dont need to pay taxes and your can have mining firm - no taxes

It all depends on the country in which you live. Personally, I can trade as much as I want and will not pay taxes, but at the same time the tax will have questions to me if I withdraw too much money on the cards.

yeah thats, right. depending their systems if they had a lot of regulations. but here in my county all traders here i think is freely do what they want and not paying taxes at this time. maybe soon. not sure!

I believe it relies upon impose enactment of their citizenship. In Belarus for instance, crypto is out duty you don’t need to pay assessments and your can have mining firm  no expenses

My friend does not have to pay taxes for doing trader. That's why so many people in my country do that. But the risk of doing trader is very high, we should find out before participating.

It depends on the country. Many of them are going to impose taxes on mining, trading and so on.

You don't have to be a registered company, but there can be advantages if you are. other hand crypto trader are pay their tax based on their income. but it is more difficult to track income.

Different countries have different tax treatment for income from crypto trading. Do you mind disclosing your resident country? If not, I suggest you to check your local tax rules.

I believe both individual and company are allowed to trade crypto. You can compare the taxes for both of them and use the one that bring you more benefits.

the treatment will be different in every country. it should treat under the other incomes and the relevent tax rate for the other incomes should be applied to btc gains

Cryptocurrency is decentralized and whatever gain or profit you may have, you are not obliged to pay tax. You can enjoy all your profit on cryptocurrency because it is tax free.

Since I have been trading i have never for one pay tax because nobody knows when I do my transaction and how I did it. That is the decentralized aspect of crypto currency. Then you don't need to register a company to start trading unless you want to own an exchange.

I think paying taxes is worth it, if you earn so much money that this tax will not affect your capital. And beginners should not, still you or anyone will not track.

It depends on where you are and how do you want to act, in Europe the tax is high but you are still have others way to sell your profits hand to hand or any other possible way.

In my country cryptocurrencies are not considered legal, so tons of traders around here are on a holiday as they don't get taxed. But there are indications this might happen soon as Remitano froze user accounts citing orders by the FIRS to start taxing crypto trading.

Well Cryptocurrency is decentralized and mobile in nature, whatever profit you make no one takes notice. But on the other hand, Traders rely on exchangers and internet providers who charge them for services and in turn pay taxes to the government. You get profit from a new coin and you pay taxes as individual. This indirectly traders pay income taxes.

Well am not so clear about the taxation in the cryptocurrency world but I Feel there might be an indirect tax made during trading well I will do my research

well you have stumbled me with ylur question i have never thought about it in that way and i believe that i need to think it over

i am not so good at taxes and all of this so i think that it is a task for me to find out what i do not know as it is very important

Well, if your country has regulated cryptocurrencies (and their related actions) and considered them securities (which makes them taxable), then yes, you would have to pay taxes on your capital gains (that's of course if you are 'honest' enough to report your profits, which I think not many do so in the crypto world or elsewhere). In any case, you will get ripped off.

Whether you will pay income taxes on profits will depend on your country of residence and the applicable laws, I am curious though, what will happen on the days when you incurred losses on your trade ?

It all depends on the country you live in. Some do pay taxes. India is an example tho in my country its tax free. Hope it remains so for a very long time  ;D

it all depends on your country and what laws are introduced for cryptocurrency. in my country, while the cryptocurrency is not legalized and I do not pay taxes

In my country there are no laws that regulate cryptocurrency. So I don't pay any taxes. I think that everything depends on the country and the laws in it.

As of now the traders are not paying income taxes cause the cryptocurrency is not under the goverment so there is no tax fee, but as of now we are just paying for the transaction fee that we are doing. But maybe in the future if the government will legalize the cryptocurrency they will put a tax fee for every income that we earn.

Decentralized currency trading has no taxes as long as government wasn't declaring it to individuals. Taxes was only handled by local trading fiat exchange and not with the subscribers itself, particular those traders who did the trading activity.

It all depends on what laws are established in your country, because for example I do not pay taxes on my profits from cryptocurrencies.

When monetary pro go up against loses I don’t think he had pay charges, as well why would anyone pay charges when he is at incident. Charge paying system may move from country to country. I think it’s prevalent paying charges. This is often a great thing.

If at present there is no trader paying this tax because the government does not legalize the cryptocurrenny world so that the government is not entitled to tax and we are not required to pay it

It all depends on your country of residence. If you are from USA then you have to pay tax.

As I know there are no traders pay taxes for their income by trading cryptocurrency :). In my country, there are so many traders and investors investigated because they exchange so many cryptocurrencies into cash, they earned thousands dollars by trading without paying any dollars for taxes and know they're being investigated at police office :)). I think in the near future, all governments will control all acitivies in crypto world and all of us will have to pay taxes for crypto income soon.

NO, as the government will never payback what is the trader's loses.
though if this will get the cryptocurrency and ciruclation works bettr then i would be really going to have that.
But remember that in the market we will gain if we will have more that what we out.
every single percent is a good amount to have.

It depends on which country the trader lives in and also depends on if he wants to cash out his cryptocurrency or not. If the income exceeds more than the limits set by the government to pay the income tax, then yes.

Cryptocurrency operates with a decentralized system of transaction. Therefore, it is not subject to any governmental influence that charges tax. So you are not directly charged with any form of tax in transacting cryptocurrency. Although, i got to know that exchange sites, most especially the popular ones are charged with tax, which indirectly are deducted from customers that use their sites for trading or any form of transaction. Which was why i said you are not directly charged with tax.

I have never paid tax on my profits. Even I will tell honestly and I don't plan to do it. I don't see what I have to pay for.

Yes crypro trading is taxable in many countries around the world, i know in usa there is a strict tax policy and you have to file tax returns on crypto gains every year, so you have to follow the tax policies in the country where you live.

cryptocurrencies normally fall into the capital gains tax category for casual users in the U.K., being considered investments. However, some traders might be liable to income tax, depending on how regularly they trade and the volume of those operations.

At this point in time, I have not heard of traders paying tax on profits for trading. Of course , you may have already introduced rules in your country, but in my country, you can do everything as long as the law does not prohibit.

Why the hell would you pay taxes?  If you kept your privacy they have no idea who you are unless you cash out in some government run POS like Coinbase.  You did not sign up to pay taxes so why would you?  Your central bankers are printing fiat daily and then taking half your money.  This is done to keep you a slave and on the treadmill.  

Remember they are taking you work and using it to drop bombs and missile on countries with no central banks.  Innocent people are dying from your tax dollars.  Save a life and half your money by telling the government to fuck off.  

large whales pay.

Maybe your country isn't imposing tax but it is already happen in other country. Of being unregulated form of investment, government isn't forcing crypto holder's and traders to include their income from crypto together with their real stock investment. That's is why, tax is just free for now.

Basicly traders have to pay taxes,but it refers to stock trading. As for crypto trading,it is not regulated yet,so there is no special rule to crypto trading,you aren't oblogated to pay

In this part of the world, crypto trader are not paying any tax. Trading in my country is without tax became cryptocurrency has not been regulated in my country.

Here, you don't have to pay taxes as long as you do not cashout from crypto.
If you get fiat, then you must declare it and you will be taxed on that fiat.

Depends on the country you are living. In the US, the law varies from state to state, but most of us who are subjected to US tax regarding gains  from trading crypto currencies will have to pay. The Internal Revenue Service (IRS) does not consider crypto currencies as a currency, but property. Exchanging of property with gain are subject to pay taxes. So, you will have to report your gains and file your taxes if you are trading.

I don't really know if all countries are the same or not but seem like traders come from few countries don't have to pay taxes for their crypto trading income cause their governments still dont' have clearly rule about cryptocurrency and cryptocurrency income but I think in the future when these governments have clearly rule for crypto and crypto income then these trading will be investigated and they'll have to pay taxes for their crypto trading income before.

cryptocurrency created for independence!we don't have to pay anyone anything!there are so many taxes in my country, but I don't see it as worthy of living. Recently, the retirement age has been increased and now the elderly have to work even more...

This is true. This is one of the advantage of cryptocurrency in which this kind of transactions cannot be identified or somewhat cannot be traced that is why it is much better earning profit into it. And also we can see the good side of it through knowing that the profit you will earn is tax free.

In my country, trading crypto is  on grey zone. traders here are on holiday. unless you want to make loans or dealing with banks, you can submit tax based on the profit you made, of course it can be manipulated.

Trading on centralized exchanges you will have to pay taxes, but if you just occasionally buy or sell something on decentralized exchanges,it will be difficult to find you to pay taxes, although it is possible if you wish. in our country, there is no legal regulation of this activity, but if you transfer cryptocurrency to fiat money in large amounts,you will be noticed and asked many questions))))

Paying tax in trading depends on the country you are residing. If there is no clear regulation about taxation of cryptocurrency in your country it is fine not to pay tax. If you reside in the US you have to pay your tax because they are very strict in taxation.

I don't know which country you are from, but here in Germany you can easy come in prison, if you don't pay ur Taxes.
We must pay for everything here, not only for trading but even for incomes from POS :(

No traders do not pay profits from trading and I believe that it is wrong that traders would now pay profits from the sale of bitcoins. Today it is better to be engaged in accumulation of coins, than trade.

Well the trading platform is already taking something from you every time you make an order (buy or sell).

After that, it is their problem to pay the taxes. They do make a lot of money out of it so I think it wont be a problem for you.
The thing you should be thinking about is how are you going out with that profit that you made.
Remember, when a lot of money is getting out from the crypto world it is being questioned. Just do not use banks to avoid this.

There are 2 factors to consider when paying trading tax. What country you live in, and what coins you trade. If you like in the USA and trade on coinbase then you are likely to pay tax. In an undeveloped country where you can trade privacy coins - no taxes

If I'm not wrong there was a quite detailed post about this in Reddit, it was about a lawyer who talked about how you should pay taxes on cryptos, I think the trick was when you change cryptos to fiat, there you had to pay taxes, and if I'm not wrong they enter the field of capital gains, a quick google search can give you better answers, remember to put reddit on the search bar.

I don't think so trading is not considered as income but still, it's your amount which matters if you have a higher amount trading then, of course, you have to pay income taxes but if you have smaller amounts and you are creating because of your individual profit then you do not have to. There is a line which if you cross only then you have to pay income tax. But still there transaction fees which are being deducted no matter you win or lose you have to pay those trading charges from every order you do.

In our country cryptocurrency is not illegal and not legal but we had a freedom.What earn in this cryptocurrecy was no taxes because it is not a registered income.

The question is interesting, of course. In General, the income tax will have to pay, I think, to come to the tax and declare. Perhaps, if you do it professionally, there are taxes for self-maintenance, in each country in different ways. I do not think that you just need to run and register an individual entrepreneur, first you need to learn how to not lose money.

in most countries, crypto trading is still illegal or unauthorized, thus you do not pay any taxes.
To pay or not to pay, you will have to check you country regulations

actually i think it depends on the country you work in and on the conditions you have for your working process

yes you have to pay taxes btu what if yiu are worling form the country in whicg cryptocurrency world is not allowed

Sure, it all depends on the country you are a resident. However, it is counted as capital gains.
You can open a company, but it's harder to withdraw fiat to the company's bank account, as far as I am aware on coinbase it will be quite an issue. They stopped for a while, not sure what's happening now if you can open an account on coinbase as a company.
What works for me, is being as a self-employed, once you withdraw you pay the taxes from the gains.

That pretty much depends on the country where you get your income for trading and that certain country's tax system. But I know many people who don't pay tax from crypto earnings at all, they use to go to bitcoin ATMs, even travel to different countries and get fiat from there.

all move to denmark there are no taxes on crypto

or if you are amateur just gambling on shitcoins with no training and just guessing if they will go up or down it will be gambling and again zero tax for some countries like uk and others.

I think they are if the wallets designed by their country requires tax/es to pay before some cash-out requests then they are paying it but if there's not then they only pay the transaction fee/s in the exchange they are traded.

They themselves do not know what they did, because the crypt on the blockade is decentralized and no taxes are needed. And if someone paid taxes, he was and did not participate on his platform or did something wrong.

Tax is not apply to trading in crypto but some country are on that to make it work by collecting tax from every crypto trader which as brought about regulating and legalized the crypto but it all depends on your country if is allow and if the tax has been impose on trader but most are not paying now cause crypto is still decentralized and not control by any government .

Mostly It depends on the country that you are based in. As an exemple, in my country, traders are not paying any taxes, however for big amount of money you must go and register your cash and how you got them at the financial institute.

Different country different rules, you need to ask in your local board and maybe some crypto expert will give you suggestion, I don’t have pay income tax because my country haven’t announcement accept cryptocurrency or it’s illegal, so I just direct withdrawal profit to my bank account

I think it depends on what country you belong. In our country if you are registered as a company, then you are really expected to pay your taxes.
If you call it a personal business and register in the government, you pay tax.
If you’re trading independently but not registered as a worker, you don’t pay taxes in a sense you pay tax through your payment in exchangers where you exchanged your money.
As for me, if i will be taxed, I don’t have problem with it because I know it can help the economy of my nation.

On the exchanges take commission for the withdrawal of funds. While not large, so there are no special disappointments.

Crypto trading this time do not imposed taxes,  but it depends on your country of origin, if the cryptocurrency has been regulated, expect that you need to pay the right taxes, but if the country does not regulate yet the cryptocurrency, taxes is a NO. Ive been reading some of this information and based on what ive heard.

One of the reason why people invest in bitcoin, they want to hide their money for avoiding tax.
But as a good people, we have to pay tax for our country :D

As far as I know, trading coin does not pay taxes, because there are no regulations governing if a trader has to pay taxes from a portion of the income earned. but only pay a fee when we want to buy and sell new coins. on all exchanger there will be deductions from the balance if you make a sale.

You're supposed to if you make a profit but most probably don't. Taxes are a part of any sort of business.

Maybe in some places, traders and investors are paying taxes because its required on their place. Personally, I'm not paying any income tax when I'm trading simply because there is no regulation yet here in my place and no one for sure wants to pay taxes from their profit here. I think even in the future, its hard for the government to impose taxes to those individuals who earn through cryptocurrency.

If people make profit with crypto then they need to pay taxes. But people can avoid the taxes if they wish because government can't be monitoring your profit anyhow.

It seems to me that even profit from cryptocurrency still is not assessed in any way. In order that from you to levy income tax from cryptocurrency it is necessary to include changes in the legislation of each country.

It really depends on country where you lives but normally trades gain are considered like capital gain with traditional investments to it have to go to taxation...

As I know some people pay income tax because they are a millionaire so they must use bank account for his money withdrawal. When you trade and make a some profit after all you need to withdraw money, then you need any kind of bank so when you withdraw your money via Bank then you should need to pay Income Tax because government follow you how many dollar you withdraw in a month. It is depend on withdrawal if you have a lot of to draw in a month so we should pay income tax.

Yes they should be declaring trading profits, it depends on county to country but you should follow the regulations in your area

If you are able to register for the tax on the result of your trading, that could be better, but if not i think there is nothing to worry about.
since you are trading on your own with no company included.

In many country crypto trading is tottally illegal but many people who belongs there they used earn by trading crypto. So they need not to pay taxes indeed how much they profited from the trading.

I bring profit the small sums and to different payment service providers. The tax on the activity did not pay also to me yet and no questions existed about it yet.

I think it depends on crypto regulation rules in your country . Most traders do not pay taxes simply because they do not have to do it by law, because the crypto is still not regulated in their country at the legislative level . The only problem can arise when you earn really a lot on trading and you need to somehow legalize this income.

If you're not going to exchange your cryptocurrency into cash so you no need to pay taxes but if you do that although you dont' have to pay but you still should. In some countries, people don't have to pay taxes although they cash out their cryptocurrency but in the future government will take a look back and catch them all.

Why would you need company for trading crypto and which business will the government collect tax for?. I don't think its possible to pay taxes on blockchain trades. But those exchange or trading sites to pay tax and coin creators too,  because they are establishment?

in canada According to the CRA, tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from tax obligations.

There are ways to get around income tax, unless you are a US citizen; then if the amount is worth it IRS will chase you around the world, try to strong-arm other governments into forced cooperation, make your life very difficult for you if / when you get back to the States, part of the reason why so many American citizens are preferring to even resign from citizenship, every individual deserves a free life.

It depends on what country you live and we can see from the law which made by the goverment. In my country cryptocurrency still illegal so many of traders still not pay taxes. Maybe it will change if it is legal.

I didn't pay any crypto tax yet. But i think the government are getting tax from me because everything i buy is already taxed, and this tax is added into the services price.

Until now I don't need to pay taxes from trading/ investment activity because I use crypto market, not currency or commodities product. Many countries have different opinion and law about this activity, as long included legal financial instrument we should pay taxes. We only need pay transactions fees and like or not that is the rules. Just follow the policy and have a nice trading.

I do pay.
When you get profits you will pay on the profits. Some countries have rules for long term investments, ones that are longer than a year or so.
Long term investments will be taxed less than short term ones.

cryptocurrency trading is under regulations now, in the us they are trying to legalize trading cryptocurrencies to fiat via listing on current fiat exchanges. but the etf decision is moved to february and from there, we will have a look on the rules and guidelines of cryptocurrency trading

you are right, indeed some countries do not currently impose taxes on crypto.
maybe because some of these countries have not officially legalized cryptocurrency,
but i am sure that in the future the government will impose a tax for each user, sooner or later it will surely arrive.

I think no, because all the fee we paid is for order fee, but this will be good if we paid some taxes for monthly gain, it will help the crypto world itself, because regulator will think crypto is a source of their income

Yes,traders by law are obliged to pay taxes on their profits.Some people may think that they can cheat and get away .But sooner or later they can be caught when they are audit for money trail or when the tax authorities request data from exchanges.Many people are not aware that many exchanges and even localbitcoins.com shares data of traders with local tax authorities

I think it is depend on your country becuase here in my country if you registered as individual user as a trader and you gain a lot of profit base on your country you need to pay for taxes, its kind of sole proprietorship in terms of bussiness.

You didn’t mentioned from what region you are so we can give enough advice that applicable in your location,because if you have local exchangers or even local wallets the you can simply start trading without any government interference.just like me i am buying bitcoin from our local wallet then i am buying altcoins from that bitcoin to the exchangers so thats how my trading life runs

I think paying taxes on crypto to crypto trades depending on the country. At my country, Vietnam , we don't pay anything !
Crypto is so fresh at my country, so there are no laws that apply!

Based on how the rule of cryptocurrency and bitcoin law at each country, many country still not allowed for using bitcoin and cryptocurrency as payment and no needed for paying taxes for government. Maybe better not allowing for bitcoin keep for have pay taxes.

Unless you're a registered crypto trader which is actually doesn't required or even exist then its not obligated to pay for taxes

Though it may possible to declare how much income you are making its the exchange who in the first place taxing you

might be a local or international

Its also ironic in the country which doesn't approve crypto taxing people with it

And how to pay taxes for non-existent money. You make a profit in the form of assets and not funds for calculation, so I do not see any obstacles and fears.

I trade with no government tax being collected to my profits. I don't know if there are those who have to pay taxes being a trader. I only pay minimal amount of trading fees and it goes to the platform itself. You don't have to worry about the tax since you can go anonymous if you want.

i think this will depend on which country the exchanges is registered and what citizenship the trader has.  most countries usually tax their people on their profits, which includes profits from crypto trading. but to declare or not will be entirely depend on oneself specially if the country government is not strict.

I think the system is different in every country. It should be treated on the basis of other income. Cryptocurrencies are not legal in our country, so there is no tax.

Where they don't pay taxes from trading profils?? In Germany we pay it very sure, we only don't pay if we hold longer than one year.
 

manging tasks on jobs with the trading on blockchain exchange market with the helps on connection as occupying use of mobile phone, the return gives as less on fees on expends and collects as the higher difference with finest on results on collection.

don't most us ppl pay it no matter what?

I hear about taxes for the first time, you can trade freely, and no one should tell you anything, although it is possible that each country has its own conditions for making money in this area, so you need to clarify this information in your registration.

I don't there is a good taxable system in any country for the taxation of Cryptocurrency income especially the gain of trading. I don't even think it is right to pay tax on trading profit because if am at loss, will government compensate me?

It is the exchange or the trading website which pays for it.
That is why they needed profit as much as possible. This is also the reason they are not listing dust tokens.
.2 percent of how much the traders wants to sell or buy is huge. But without players how could they even pay for taxes. Somehow, it is also a gamble to them.

Yes you are right, sure in depends on every country, they have very different tax law.

We will pay taxes from day trading, when the database of participants in trade will be created. But as I understand it, crypto exchanges do not pass all the data about the trading participants to everyone. Until this happens - we will not pay taxes.

If the country accepts cryptocurrency, the trader is obliged to pay % tax on cryptocurrency , or rather on profit.

that is perfectly possible. Because trading and making money on the Crypto market is considered a form of business and the employer will have to pay taxes. That is a must, but we need to be protected by law. I do not want to have more scams in this market anymore.

I myself have never paid taxes on profits that I get from trading, mining and others, because there are no rules governing it all. in my country there is no regulation that regulates everything on cryptocurrency. but even though there is no regulation but crypto is not illegal.

Im trading also coins especially new ones i gain profits and i never pay taxes because they cant also track my income.

It depends on a country the trader live in. Some countries like USA have taxes on income, but in Belarus there are no taxes on the crypto income.

As a trader I don’t pay taxes for trading income its not necessary. If it needed you have to pay but you don’t need a registered company if you have you can get some advance advantages.

I think such a tax would have taken root in countries such as Switzerland. Since not one respectful trader does not want to give his earned tokens. There is no such tax in Russia. Then, therefore, why pay.

It is depending on your country tax legislation. some country have to pay taxes and in some country it is out of taxes.So it is depending, which country are you from.

This is totally depending which country are you from.Some country, according to their legislation on taxe, just accept income taxes. So you just have to pay income taxes.In crypto market you are anonymous, How govt will find you out.

Many exchange platform used give taxes from the benefit but don't know the which protocol they maintain. But there are some confusion bitween tax and crypto. But if goverment stand with crypto then there will be a easy regulation of tax with crypto.

It depends on a country where you living for example in country we dont have any kind of regulation for people who's earning from cryptocurrency trading.And there is no real way to monitor activity of people who are trading tokens for your currency because they came from other people just like a money transaction, there is no possible way to look for this trades from the side of goverment

Taxe is responsibility for every citizen. So if there are any regulation about crypto tax then everyone need to pay tax for their profit.

I can't really say they pay tax.... Traders only pay for transaction fee but maybe when regulation of ICO come in tax may then be involve.... That why we have to bear the risk involve since no one is controlling the transactions.

I don't think that is necessary as long as you make a single account to make good trades. You already pay for the use of the exchange because the exchange will negate your funds a very small percent when you are doing a trade, buy, and sell and making withdrawals.

That wouldn't be difficult provided there is an intention to do so. Quite naturally, if you are earning just enough to provide for a living and not the one like that of a millionaire, it is not very likely the tax authorities will be interested in the source of your income, though your mileage may vary. But if it is measured in the range of millions, they may get interested, then you have to answer some questions asked and you'd better have the required taxes paid to get off cheap and unscathed. They can easily find out when you decide to cash out as all big transactions are recorded and then thoroughly analyzed for money laundering and similar criminal activities.

I have no idea what taxes are in the crypto world, and I want to know that, can you explain to me what is tax? What is tax income? and how can I do it?

for now, as long as I do crypto trading there has never been an individual tax deduction that I received. in the context of my country (Indonesia) I feel the tax burden has been made when we make money withdrawals and trade in the local crypto market. tax costs are calculated along with the fees set by the crypto market, later they will pay taxes to the government on behalf of the company. I think this is one of the things that keeps the government from issuing negative issues related to crypto, they want to make a profit, they want individual income tax, but they have not yet got the right regulations and rules related to it.

In my country, government are not really into cryptocurrency and we don't pay tax individually but I still belief that I pay tax so far I pay some % for trading on exchange and the exchange is paying tax, definitely I'm also paying tax

Well, in my a country there are no such laws to pay for trading cryptocurrency. Even if there were not many people would agree to pay such a huge amount for it. In the world of cryptocurrency today, you have money, but tomorrow you don’t have it, and then no one will be able to prove the opposite. Then it turns out no one will know that you have money if you are trading on the exchanges where kyc is not required then why pay.

I do not think that many traders pay taxes on their profits. Firstly it is very difficult to track down and in General how they will know how much the trader really earned money this year. Fuck them.

I don't really sure about that, if we done it personally without getting listed in any company, i think it won't be necessary for it. except if even though we are working alone but count as a small company, then we need to pay an income tax.

If you say openly and talk about what each of us is a citizen of his country and pay taxes we owe it to our states. The time will come when we will all pay taxes from crypto. The success of cryptography will be if taxes from the profits of participants in the crypto market will be huge.

I would suggest it depend on the exchange and which country it is located in. I also assume that in the US at exchanges like Kraken, Polo, Bittrex, Coinbase, and their likes all US residents have to pay their income taxes whether they want or not as these exchanges directly report all transactions to the IRS. In other countries the situation with the income tax may be different, and in some of them bitcoin and cryptocurrencies may not be taxable at, which effectively means you officially might be exempt from paying an income tax on your bitcoin profits. These are known as tax havens I guess.

I'm a trader and i don't pay taxes because why would you pay taxes if it is not regulated in other countries but i'm not saying that it's not legal i'm just saying that taxes will come to trading when crypto will be regulated as an official currency.

As far as i know there is still no regulation about that, exchange site has a responsibility to pay the tax to the government but they are not applying it to their traders that used their service. Basically this depends on where are the basis of the exchange site itself. Some countries have been issuing the new regulation about that.

That's right, we're not going to pay taxes on decentralized currency specially when it's not a type of fiat currency. In a country it depends on how tight your government authority is, and with central banks who monitored the financial balance of the fiat economy. Trader's aren't obliged to pay taxes for a matter of crypto trading and I think if ever crypto will be legalized so far, there they could imposed a tax law for every exchanged withdrawal transactions.

I know both situations when people pay taxes or not. It depends on the platform you work with and cases that you follow to be there. But if you don't want to pay you can just find other platforms.

I think the government is making the framework for the income taxes. We will have to accept it if crypto will be legalized everywhere in the future.

It doesn’t seem to pay taxes now.In the near future, many countries will supervise and formulate some policies.Maybe we need to pay taxes after the policy is introduced.

Taxes depends on the country. What I've known so far is that U.S.A is the only country that taxes Bitcoin profit. In any other countries like the Philippines, they don't tax it no matter how big your profit is because there are companies who manage things like this depending on the wallet you use.

If its illegal how do you get money on your bank account.

there is no tax for crypto trading that I know of.
yes only the fee service from the exchange is there and the fee for each transaction. that's why there are many countries that try to make regulations for crypto with all its rules.

I don't pay income taxes when I withdraw my bitcoin to my local fiat, and I think I only pay the fee of making transaction on my bank. But I think soon, the bank will ask me from where that money. Until that time, I hope that I can withdraw my bitcoin without paying the taxes and if it's applied, I hope that the fee is not too big.

I'm not really sure where you are from but in our country, there is no such tax yet for such things like crypto incomes. But if you are really intending to pay taxes, I think its alright just to pay as individual but I think there is a limitation.

Not yet, but if they introduce regulation then we definitely will. It’s another matter what percentage will be at the same time, maybe it will not be profitable then to trade at all. So here is a fine line and it’s better for now, everything will be as it is.

It depend on your country policy it not all country that crypto is legalise so people in this country won't pay tax.. crypto is not recognised by all country that why i said it depend on your country

Traders have a lot of losses thanks to their constant move with money and such taxes are not so significant so much for them I am sure. It is not a problem.

Since government will have a harder time monitoring your income from cryptocurrency trades, it is entirely up to you now if you want to declare them in your income tax report. 

I don't think traders have to pay individual tax. I think investing in cryptocurrency is similar with buying gold. When the price of gold increase, we sell our gold to get profit. So there is no reason for us to pay tax for that

In my country, so far there is no such thing, but it is possible if the law on the regulation of cryptocurrencies is adopted, then there will be similar laws that will oblige to pay taxes.

I know that the system of paying taxes from the profits received by participants in the crypto market is being developed by the Australian government. I am closely following this event. This may be a good sign for the development of a civilized crypto space.

if it is a tax issue, it depends on each country ... in my country, profit trading is one of the objects that are taxed, because profit trading is one of the sources of income (General Income Tax 17 of the Income Tax Law Number 36 of 2008), I think the treatment of each country about profit from trading is not much different

Some might do if their country requires them but not all of them do since a lot of the countries have not yet figured out how they are going to properly tax the coins and the income of the traders so for now only a few countries pay income taxes for their earnings from cryptos. But we should all be ready because there is going to come a time where we all will

there is no tax in the crypto trade, except the fee in every cash withdrawal.
and transaction costs only. and I think friends here have conveyed in detail to you, so you only need to look for insights there

in my opinion until now there is no country that requires paying taxes to traders, because every country must make regulations if it wants to take taxes from traders and in my opinion it will be very difficult because the identity of traders is very difficult to trace.

It depends of the country where you live. If you trade well and make good profits then I think that you need to pay taxes, but it is important to ask the rules about this topic in your country for the best information.

The rules on taxation of cryptocurrency operations vary greatly in different countries, so the most correct would be to consult with a professional lawyer in your city, rather than asking ordinary people on the forum who do not know all the subtleties of taxation and do not even know what country you live. This is a serious issue that can entail serious consequences in the form of heavy fines or criminal penalties for tax evasion, therefore it is better to take this issue seriously, especially if the amount of money you operate is significant.

I think paying taxes from your crypto profits come down to where does a one live. For me it's easy - anything under 500eur is tax-free and anything over is taxed by 20%.

If you earn profit of let's say 600eur, it's like: (600-500)*0.20=20eur for taxes.

You asked a very exciting question for many. Since I have heard about various bills that want to tax all the profits from the crypto currency. It does not matter whether you get your income by trading, mining or bounty companies. What to do at the moment, I don't know, but I think in the near future all will become clear and we will understand what to do to be clean before the law.

It is impossible tod o as bitcoin is decentralized system. Only if this crypto world will become centralized that would be the time we pay taxes to government from the total income that we've earned.

In my country trading with cryptocurrencies or even with traditional ones are non-taxable income. So it all depends on the country you are in.

I don't think that traders should pay income taxes. I think exchanges should pay taxes based on volumes/commissions of their trading.

Obviously it depends from your country and laws. Personally I still do not pay any taxes to goverment, but situation can change anytime. Crypto growing and it's just a question of timewhen it will be taxes by goverment.

Yes, as a trader you have to pay taxes, but you can discount loses and have some other advantages in most countries that will allow you to deduct more. You should look into your countrie´s laws.

actually in my opinion it depends on tje country you are in and in some countries people do not pay taxes even if they should

if in your country have regulation about cryptocurrent (like, tax 1% per month) you may pay it. but if no regulation, no need to pay tax. but if you want to help government 'develop' their action, then just pay it.
in my country still no regulation about bitcoin, so im just play and joy what i earn. but if they make it, i will follow what they say

It really depends on what country you live but generally crypto are considered like securities so if you have a capital gain you have to declare it and pay taxes on it in most countries.

depends on country, Most of the Asian country are not. different story if you  at US or Europe.

That depends on country where are you from. I live in Ukraine and we have a huge legal gaps when we look at cryptocurrency trading. And because of that we do not have to pay income taxes in that situation.

of course I don't pay taxes on cryptocurrency trading income, because in my opinion there are no legal regulations on cryptocurrency and the amount of tax that must be paid, therefore I don't pay taxes until cryptocurrency is legalized and there are tax rules from cryptocurrency trading income.

Hi, everybody. I pay taxes. And my friends who are engaged in trade also pay. ;) ;) ;)

As far as i know that there was no regulations for crypto traders to paying tax from their profit income although cryptocurrency is not illegal but my government hasn't regulations cryptocurrency yet but the latest news i have heard that they says cryptocurrency development were increasing rapidly even volume support for each crypto exchange were increasing too and my government says they have any plan to regulations for crypto traders and will announce their decission in the near future

In each country, the tax case looks a bit different. Usually, you do not have to register own company, but only pay tax from your income. However, to be sure, it's best to talk to some tax advisor in your country.

I dont think they pay income taxes in earning here because government do not manage cryptocurrencies maybe they pay income taxes if they convert their tokens into fiat so that they can withdraw it. In that manner government or any banks can put taxes when they withdrawing. But in investments. I dont think so. They maybe put it nothing more nothing less.

Bitcoin is still illegal in most of the countries. Government think, it is illegal. So traders of Bitcoin cann't disclose his trade or business in any place. If he discloses his connection with Bitcoin, authority will put him into jail befor paying taxes in those countries.

All depends on the country and the person. Some people which are professional traders, they can make it as a regular business. If you are just a newbie and don't invest big amounts I don't think it's necessary to pay taxes.

This is a decentralized system, so you do not need to open a company for the purpose of paying tax to any government. The duty is not yet exercised on crypto traders. Although, so many governments are agitating for it, but which i feel might not be possible, except cryptocurrency becomes centralized.
Well, you might personally choose to pay tax to the government of your country, either as a citizen or as a resident.

I am fortunate that i live in a country where cryptocurrency trading is not yet regulated as they have not yet imposed regulation on exchange.

Can you elaborate more on how they taxed your income?

Others depends on exchanges, some exchanges adds tax on the transaction fee, nevertheless it really depends on the country and they have different understanding on how to implement it.

well i think that'll depends on the jurisdiction jurisdiction you're coming from and their view on cryptocurrencies. For those in countries where cryptocurrencies are seen as digital assets, I'm sure taxes may be required to be payed for those who haven't disclosed their sands yet, it may not require you to pay taxes.

Crypto trading is something quite cryptic as there is no established expected profit and tracking, maybe not really be easy assigning income task to it as it is a very high risky venture that could equally come crashing in a split second.

I think that it would be right to pay taxes with profit because it would be so much easier for everyone

it depends on the laws of your country. in my country, while the cryptocurrency is not legalized and therefore I do not pay tax on income from the exchange

I dont think that it is still applicable. Because that is the beauty of doing trades in cryptocurrency because most of the coins is anonymous and goverment agencies cant track it. But I think the exchange owner will pay the taxes.

Germany announced tax free for all crypto users. I don't know about other countries but tax are paid directly or indirectly by each one. Traders may not be charged taxes for their transactions but indirectly, they pay their quota of tax to the exchanges where the trading is done. These exchanges pay taxes directly or indirectly when making the final conversion from crypto to fiat.

Here in cryptocurrency there's no tax to be payed and that's the advantage compare to working.

Very informative post i learn alot though honorable Bitcoin talk members informative posts.It will be more beneficial for newbie.

Some traders always pay some fee from there trading and extra fee for getting for it to withdraw but soon they always say that trading published a taxed.

As I know, no one pays and is not going to pay taxes on profits in crypto. Except Australia. There, the government leads legislation to transparency in crypto and tax payments. In this matter, I want to say to the Australian government: crypto is a risky investment, in one year I will make a profit, for example, $ 1,000, and I will pay a tax of $ 140. And next year, if I lose $ 1000 from investing in crypto, will the government help me with the same $ 140 return to me?

Based on the charges we encounter on some exchanges, i feel directly or indirectly, we pay tax. There are some exchanges that pay taxes to the government of the countries where they are domicile. So some of them charge their users or traders based on the amount they expend on taxes and other ventures.
Although, as a crypto trader, you do not to bother yourself on any form of tax, because it has been taken care of by the exchange you use.

A few may perform in the event that their own nation demands all of them although not them all perform because many of the nations haven't however determined exactly how they will correctly tax the actual cash and also the earnings from the investors therefore for the time being just a few nations spend taxes for his or her income through cryptos. However, we ought to just about all prepare yourself simply because presently there will arrive a period exactly where all of us may.

I think because most countries have not legalised or cypto in any way and is much a topic that's hanging in the air. Though, if you decide to take it out via banks then that money should in theory be declared.

If the law exists within the country with the law on the payment of tax on traders , they are obliged to pay tax , and if not then they do not need to pay anything.

It all depends on the laws of your country. I would start by checking your countries income tax regulations.

if exchange is registered in legal country, not offshore, it will pay taxes from their income. their income = fees of trading. traders pay fees while trade. that is how traders pay taxes.

I do not thing that crypto traders are paying taxes. You traded on an exchange, withdrawal you funds and spend them on your needs. Maybe legal exchanges are paying something from their commission fees but no trader pays taxes.

we all will definitely pay taxes if the government requires and is the same as crypto if there is a tax by the government that will be followed by traders, but depends on a country.
in my country bitcoin is still illegal, and is not taxed.

If the taxes problem might depend on the government in a country because with the government policy on trade in the world of cryptocurrency, enthusiasts must automatically comply so that things do not appear bad later and mutually beneficial.With the cooperation between residents and the government.

It depends on country, some countries do pay tax for their trading but for me and my country, I don't pay taxes for trading or owning cryptos because in my country the government have not noticed cryptos at all and no decision or whatsoever have been taken as regards to cryptos and blockchain.

It depends on country where you live.
I live in country where every exchange (for example Bitcoin to Ethereum) should be taxed. Is that normal?

Taxes on fiat is the government's field, they could ask for taxes because it's their Currency.

To a greater extent, it all depends on what country you live in and what amounts you will have. If you have a month to be plus $ 1,000, I think you can safely avoid paying taxes. At least so in my country.

I think this is depending on where you stay, that's your current location. But there are many places out there where you can just start trading without paying taxes not even need to open any company.

I have yet to find out that the trade is taxed. the problem until now the existence of bitcoin has also not been officially recognized by many countries. so otu tax cannot be set yet.

in USA traders have to pay taxes and give reports about their profit. so it depends on the country you are living in.

I think that there are no such people who are willing to share profits with the government. Moreover, how are they going to prove how much he earned in a particular month? I believe that the tax collection from traders is very difficult to implement, especially who trades on cryptocurrency

Most of coins are not regulated, so you even do not trade legally. That is why, there is no taxes, but you support the shadow economics of the world.

As the cryptos are not legalised fully then what is the question for the income taxes? I think Govt. shouldn't impose any tax until it has legalised the same.

You need to study the legislation of the country where you operate. More and more countries are beginning to regulate crypto. And I am sure that sooner or later, everyone will work in the legal field. I support the idea that traders have to pay taxes. Crypto is becoming the same kind of business as other industries.

BTC has been recognized as commodity, so you will pay commodity taxes, if you are US citizen. In the same time, most of tokens are not covered by taxes.

If you talk about cash your profits out, then you will have to declair your profits somehow, our you can get questions from government

I do not pay taxes for the income that comes from my cryptocurrency, but it all depends on what country you live in and how you withdraw your funds.

Traders using cryptocurrencies on pay tax when they use fiat money (dollar) as payment. If they use bitcoin then NO, there is no income tax. So I think using altcoin as payments could get rid of those tax that are too unfair in some countries and maybe cryptocurrencies could do some little help. I also think that it is a reason why government like to put tax on crypto because they think that crypto-users are evading tax in a legal way but once there is tax then it is illegal.

No. Traders do not pay tax for the incomes.
Cryptocurrency has not gone 100% mainstream and so not that recognized by most counties to the extent of collecting tax on cryptocurrency trades .

It depends on the country where you are living. all of them have different laws. As for me, I don't pay any taxes. It's only my profit, I wouldn't share it with the government.

Personally I do not pay taxes for trading on the exchanges in case I get the profit, I pay the taxes after I cash up and I think that this is enough.

In my country it depends on the capital gains.. How much you invested and how much you cashed out in a year. Based on that you will be a particular tax bracket and you will have to pay taxes accordingly.

If you mean taxes like taxes that are regulated by the governmental institutions in lots of countries, so to my mind not, traders do not pay. They pay for fiat that they get after converting the crypto currency into their fiat money that are regulated by the governments. After crypto became the official financial asset so traders will have to pay taxes may be.

Since you are not registered as a company I don't see why you will pay tax to anyone and there is no government body that is in charge of taking and calculating crypto tax for now.

Since cryptocurrency is decentralized, traders can't be pinned down directly by any government agencies, to get taxes from them. Except the exchange they are using decides to charge them indirectly, because exchanges can still be charged the government agencies.

Fees on most of trading portals are so high, and if I would need pay taxes, I will not make any profits at all. There should be no crypto taxing at all.

In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.

I have never paid taxes on the income from the crypto currency that I got. because of being attacked I have not implemented regulations on bitcoin.
if it is actually implemented, I really agree, if bitcoin is taxed

I think that most traders do not pay taxes because they trade on anonymous exchanges. But it is against the law. I think we should not deceive the government.

It is more difficult to tax on the income of electronic money, and the more the government intervenes and seeks to tax personal income, they are anonymous, they have many ways to withdraw. and the government will not be able to intervene in their income

I think it needs a law to implement the collection of taxes from the earnings of cryptocurrency. If that will happen how the government know if we earn on this technology as we also lose our funds in a bearish market. Anyway here in my country we are free to do crypto transaction without any issue from government. They just reminded us that investing in crypto is high risk due to volatility.

I will always refuse, if the government imposes taxes on traders as long as the government has not contributed positively to the future of traders
the government does not want to bear losses, from the cut loss made by traders, then why do they want to ask for the profits we get? are they thirsty vampires going to a cryptocurrency fighter?

Lol it's so easy to do that remember a lot of funds in the crypto still get concentrate on the centralized exchange site and that means if the government will try to put the more restriction and these centralized exchange will be automatically follow all of compliances that will have issued by regulators.

For traders they must create conditions for earning enough big money to talk about removing taxes from these incomes. Question number one: how to find out and fix this income. If someone in the crypto does it, then we can talk about the future.

I think that blockchain paradigm must be free of income taxes, we can pay income taxes when we convert cryptocurrency to fiat currency.

Probably none of the traders cryptocurrency does not pay taxes because it is impossible to track , and I'm not a supporter of what we would pay taxes , it's just theft!

Cryptocurrency is not regulated so there is no taxation in the income of traders. Also, it is difficult to tax because it is hard to track blockchain transactions and the identity of each wallet and the corresponding trader who uses it.

In General, the cryptocurrency is anonymous and no one knows how much you received and how much money was withdrawn, but how much I know there is a tax in Australia.

It depends of the tax regulation of each country  but traders should pay taxes on their profits at the end of each year.
Nothing can be said to be certain, except death and taxes.

If you are asking about US law (as defined by the IRS), then yes, technically any and all income should be reported and factor towards determining your taxable income.  If I hand you a dollar at the lunch table, technically you're supposed to report that as income, as defined by IRS rules.  Clearly, many traders and investors in cryptocurrency are likely not reporting realized gains, either out of naivety or conscious tax evasion.

As far as I know there no tax here in crypto or i dont know but here in our country we dont haven taxes for crypto i dont know in some country

I have never paid taxes directly because of the trade because there are no rules in our country yet, but I am sure the local exchange companies that we often use for exchanges and trade take fees for the activities we do either deposit or withdrawal and I am sure they pay taxes for exchange companies

I guess not. All traders work in different residences and the company cannot keep track of all this. So either the trader pays or no one .

in my country there are no regulations governing the tax on cryptocurrency. so no matter how much profit I get from Trading or mining I don't need to pay taxes. but the thing I don't like about this is that crypto doesn't have a clear status in my country.

Id like to state my reason, that in the laws of the land of a certain country, if it categorizes tax for crypto then its applicable to submit income tax, but here in my country Philippines, there was no laws that specifies income tax for crypto trading, hence the government is still in studies on how it could benefit in the economy, if it pushes.

Yes i think in future there will be a complete regulations about profit that you gain from cryptocurrency, i believe there were several country that already have a tax for cryptocurrency for example japan. This news might give a picture about taxation of crypto gain in japan. https://cointelegraph.com/news/japanese-taxation-committee-seeks-to-simplify-cryptocurrency-tax-reporting

As far as I know if you are in Korea or Japan, you need to pay tax on crypto. And if you live in another country, you do not have to pay taxes. I have been trading for over a year and I have never had to pay any fees for my profit

I think that the most of them try to avoid any taxes. However, i wouldn`t mind to pay taxes if they are around 5% of income.

I believe that you need to pay taxes in the event that the country legalized cryptocurrency and provides clear conditions for the payment of taxes. But another question - today, only some countries have legalized cryptocurrencies, in the remaining cases, traders are forced to work without any legal norms.

Personally, I trade infrequently and I do not pay any taxes for this activity although it is considered to be a kind of good business. I do not know any trader, who pays taxes, although I can guess that the guys exist in some European counties.

I'm not yet sure if there is already a law regarding cryptocurrencies here in our country. I think there is no regulation yet but I know that time will come that the government will impose some laws in it since we are slowly adopting this technology.

maybe there are some traders who pay taxes but trade in real terms and have big shops, if at Crypto I don't think there is because in every country there are still those who have not been permitted and are not legal. maybe if permitted in each country, and the possibility of paying taxes is an opportunity.

As far as I know companies brokers take on this task. When withdrawing money, they appeal to the Commission, part of which goes to pay taxes.

In each case, this decision depends on the tax requirements in a particular country. In my country, cryptocurrency is not legalized, so there are no legal rules governing the payment of taxes. But in fact, I will be very happy if in my country traders get the opportunity to legally work and pay taxes.

These taxes depend on county where trader lives in. For example, there are no taxes on crypto trading in Belarus, but Russia has this kind of taxes.

Well, I trade and do not pay taxes, the state does not help me to develop business and does not give anything in return , then why should I pay tax to the state ?)

It's very interesting question. It depends on where you live. If you live in country where crypto is not legalized, you don't need to pay anything to the government. But if crypto is legalized, you need to read laws about it.

It depends on country you are from, some countries like united states pays taxes for trading cryptos because of other countries like in the third world countries, they don't pay taxes for trading cryptos.

I don't pay taxes on cryptocurrency trading as in my country still there is need for clear regulation. But there are some countries where cryptocurrency traders need to pay taxes, read this article for more information about tax breakups
https://www.google.co.in/amp/s/bitcoinexchangeguide.com/top-countries-cryptocurrency-trading-profits-tax-rates-around-the-world/amp/

I don't think we need to pay taxes in trading. But actually, we pay tax indirectly. By paying a transaction fee everytime we withdraw or deposit is our tax however, it is not called as income tax rather a corporate tax. This is the goodness of cryptocurrency because even if we will not pay tax, we receive our money fully.

I have been involved in this market for a long time, but I do not see anyone paying taxes on electronic money, so it is very difficult for the state to manage these sources of income. They are also quite difficult

I remember that some of my friends in the US had to pay taxestaxes when they made a profit. And they are not shared that the coin should be bought, because if they share they will be punished by law. However, in my country, the trader still does not have to pay that fee, and I think it is bad if the trader has to pay taxes

Every accumulated wealth that adds to your overall value will be taxed no matter what, such thing is what most of the government do.
Many people may see that as the most inconvenience thing especially if you live in a 3rd world country when you can't get the real benefit of being tax payer but well, that's life.

This might interest all traders, crypto investors. Be careful out there.

Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/

That's brutal. Time to declare bankruptcy?

I don't see anyone paying taxes on electronic money, so it is very difficult for the state to manage this source of income. I have been involved in this market for a long time. And I have never been taxed on me.

It is good that in my country there is no mandatory taxation on such activities. However, earning in this market, you will still give a small percentage of different actions. Interest will be charged for trading on exchanges, transactions between accounts and conversion to Fiat money. If you live in a country loyal to such activities, then you are very lucky)) the Deduction from your earnings will be limited only to these small percentages :)

As far as I know, everything depends on the country in which you live, but so far I have not met among my acquaintances those who have focused on this problem!

In Latvia, (that's where i'm from) I need to pay capital gain tax as a self-employed person form my earnings from trading. But as I know it depends on the country where you live, because some countries don't tax financial trading operations.

there is no regulation about cryptocurrency tax in my country, so I don't pay tax at all so far. But in my opinion, it's a little bit hard to charge tax from cryptocurrency trading since its almost anonymous at dex exchange. The best way is charge tax at the centralized exchange. So Government doesn't need to chase every crypto holder. They just need to collect tax every year from the exchange.

Dont screw around with taxes if you are from USA as you can rapidly find yourself in some IRS dungeon getting waterboarded. No but seriously, I am mostly holding so I am not that worried about it, especially because those crypto terms are still not firmly established in our country.

As individual in crypto trading you don't need any tax payment but in fiat money trading you may pay your tax though your banking system and if you open your own company you will also go it to register and ultimately you will pay it.

Well I have friends who pay taxes I do not understand why, I for example do not pay , and I do not see the point in this, I use all the services paid for this better I will save the money for this

I think that with a good lawyer, he will easily challenge this in court, there can be no such the law under which the investor is obliged to fix profit in the reporting period, because it would collapse all the markets.

Because countries have different policies and different tax forms, most exchanges need to pay taxes to the local government. This is the company's income tax!

I would gladly prefer to pay fixed income taxes. But, unfortunately, while in my country it is not even foreseen the legalization of cryptocurrency in the near future. Therefore, there is not even a legal opportunity to legally formalize such activities in order to ensure the payment of taxes.

I don't know about other traders. But I don't pay taxes due to lack of legislation.
Taxes isn't a requirement for crypto sphere, so don't afraid

I think its not necessary since there is no requirements to diclare the "Initial Capital" for now! But if the crypto-currency will fully regulated im sure it will be taxed. since there was a money involve, im sure if its happen it will be a great "Turn Off" from the traders itself because its not working the way they should be. Just forget decentralization if that happen!

If traders should be paying income tax, what happens with the traders that have been making losses, in such periods the government should pay loss benefits to the traders also. I know it is possible but not really tenable. Again, there is no easy trace to know how much you make in profit as you are the only one that have access to your trading account except tax for withdrawals

well. there is no any regulations in many countries yet. you should check your country and what regulations they have. in my country, i can exchange them to fiat and transfer to my bank account without any taxes.

regulations vary by country, and depending on what the trader does, maybe if you trade in real terms and have a large store there will be taxes, and if you work online, I don't think about taxes. maybe if you transfer to an account there is no tax, but for others I don't understand because I'm also new here so I don't really understand.

I think that you must open a registered company

I think it all depends on the legislation of the country in which you live. In my country they demand to pay taxes on all incomes of citizens. And this tax is very big.

to do this individually it seems very difficult except the exchange that does it, for example by taking additional fees for taxes (when sell or buy order has been fulfilled the funds will be deducted automatically to pay trading fees and taxes)

Certain may perhaps undertake whenever your united states entails him or her, however, is not everyone undertake seeing that tips areas didn't yet still understood the way in which they should thoroughly tax bill any gold coins and also money within the experienced traders which means that right now few areas pay off income taxes thus to their net income with cryptos. However, we must most of prepare yourself gave that certainly, it is likely to are provided the perfect opportunity after the place every person could.

Each person is individual, but much depends on the laws of a particular country. I believe that the right decision in this situation is to consult with an experienced lawyer in your city. He will be able to tell in detail how you can arrange the most correctly and legally activities for the payment of taxes.

in my opinion, traders don't pay taxes for every crypto trade they do. because there are no regulations that govern this. but unlike the Market Exchange, I am sure the owner of the crypto market is definitely paying taxes for obtaining permission to operate in his country.

Based on the characteristics of a blockchain, there is no need of the the users to pay taxes in trading since blockchain is decentralized and if a trader is just an individual and not company, it really makes sense, trade while you can without thinking about taxes.

That's totally depend on the law of particular country. Some may treat it as getting other may treat it as trading. So you must consult with your tax advisor and then take a decision. Also legality of crypto is also big decision in many countries. So it's better to take advice

I have repeatedly met such people who, for the sake of trade or mining, changed their place of residence and left for more profitable countries. Nevertheless, I believe that the government of any country is trying to tax its citizens as hard as possible.

Not where I live, no they do not although the only reason that the government is not taxing them right now is because they have not figured out a very effective way to tax the earnings of the crypto investors, which is why they are supporting ways to track cryptocurrencies transactions. It will only be a while before traders are required to start paying taxes

It depends on country where you live, in my country yes, you have to pay taxes from all earnings. But they do not know how to collect taxes from cryptocurrencies :D.

It depends on the country but many countries still not have regulations on cryptocurrencies. But, yes taxes should be
payed. Many of them still not considering it as a must to do but all the transactions are trackable and we could have
an unpleasant surprise years later. I am  more than happy to pay tax if I have capital gain.

I don't think traders pay their income taxes because we know that Crypto currency is not yet legalized in any country. And I think most of them are not willing to pay their taxes because of the situation of all the  currencies value in the market but still it they are willing to pay if the currency that they have we're legalized in their country.

Profit from cryptocurrency is a form that does not pay taxes because a business or government does not manage it. Thus the government invariably forbids cryptocurrency due to the afraid of the cryptocurrency market will affect the economy of their country.

in my country, if you declare that you are earning some of your income from trading, obviously you need to pay taxes. otherwise, It is actually up to the person if he wants to declare it, maybe for business or professional reasons, you need to do it by the way. But if you are satisfied the way it is, no need to do that, since most of the taxes are just going to some corrupt politicians.

there is nothing to pay because you are on a centralized market where you do not need to pay taxes

Well, first, I think that when you start trading, you should register in such certain exchange that have good volume and good market analysis. However, I also don't really know if such exchange or market will need to pay taxes or not. So far, I don't pay any taxes. In my countries, there are also not taxes for the traders. So, so far, I'm not involved in any taxes. Just some fee of transaction if I do some transaction, withdraw, and some other things.

I personally think that we should not pay income tax because the market is not regulated at all

Yes of course. income tax is paid on each exchange, because the exchange removes interest for each transaction

Traders should not pay taxes, and if the trading platform pays taxes, it also means coin securitization. This is uncertain in the future and there may be two types of cryptocurrencies on the market. This is equivalent to supervised exchange, then it is equal to the cryptocurrency is not anonymous. This is the same as the comparison between XRP and XLM.

On my experience upon making trades and generate profit, is no. It is not necessary to pay for the taxes of the gained profit that we have upon making trades. But I think the exchange owner will like to carry the fee and pay the taxes. Because us, trades, are being less with the trade fee and the withdrawal fee already.