Bitcoin Forum

Britain, Japan and so on are tax on Bitcoin, China's behavior such as Bitcoin transactions is not tax, which is why? What will happen?
If Bitcoin needs to pay taxes, what are the taxation links? Which taxes include?

From 2017 onwards, tax authorities began to take seriously this unprecedented income. At this point, you'd better guarantee that you've done everything right with tax returns. It is now in the U.S. tax filing season that the IRS will not miss the part of the proceeds they deserve. From 2017 onwards, tax authorities began to take seriously this unprecedented income. At this point, you'd better guarantee that you've done everything right with tax returns.

Here in the Philippines, it is not yet implemented that Bitcoin required taxes. In my research about that I read this information which verify that it is not yet required in the Philippines: Here is it 'The Philippine Bureau of Internal Revenue (BIR) has not yet issued clear guidelines on the tax treatment of bitcoin transactions. However, it is clearly written in the internal revenue laws that any type of income earned by a Filipino citizen shall be taxed unless expressly exempted."

I don't really understand OP's question because he's asking if "bitcoin should pay taxes." And then I thought he was bringing up an interesting aspect of crypto taxation -- taxes on TRANSACTIONS, rather than trading... but he wasn't. lol.

Imho, if bitcoin is truly to be seen as a currency, then it should be taxed just like currency trading on ForEx exchanges.

Hopefully we can leave the definition of bitcoin being a capital gains investment... because it's a currency, and not an investment, for tax purposes.

If you bought 10 british pounds 10 years ago, and now converted those british pounds to dollars... would you really be taxed capital gains tax? The answer should be the same for bitcoin

I think the bitcoin should pay fair taxes, and this minimize the enemies who want to end the coin.

Our domestic legislation on taxation proceeds from the premise that each object of taxation must be specified in a normative act. Without such an instruction, the tax should not be levied. We do not yet have a tax on the Crypto-currency, but there are already two draft laws on the taxation of crypto-currencies. Of course, soon all states will decide on the taxation of this type of activity. This was to be expected. A good moment in this is that the states, in this case, must clearly define the status of the crypto currency and in fact it will become a legal tender.

When the government began to tax Bitcoin, indicating that they have recognized the legitimacy of bitcoin, then bitcoin can be formally into people's attention. And the problem of taxation, I think it is necessary for you to declare, and then in the tax, the government will not count your taxes, but they will watch your bank account.

Bitcoin taxation is a problem many governments are still forbidden to think about. Large currency transactions certainly require taxation, but bitcoin transactions are rather special and the tax rate is hard to set so that there are so many countries that bar Bitcoin transactions of.

You are raising questions that are highly localized in nature. Tax laws vary from one country to another. The tax law of the United States of America is different from the ones in Japan or in China. Aside from that, what is happening right now is that Bitcoin is taxable in some countries, especially those that regulated it, while it is not on other countries. The tax specifics will have to depend on how Bitcoin is being treated by the particular country.

Bitcoin will be hard to tax on, that's why government were against it, how can they collect exact tax when it is anonymous and completely decentralized,, but I guess being a citizen in our country if we have much we should do our share, not only with tax but also to those poor community that really need help.

bitcoin tax depends on the policies of each country.
Supposedly if there is a bitcoin tax then the state will benefit. But until now many do not legalize bitcoin, because it is considered bitcoin will harm and that is the reason the government

As far as I understand, atleast in USA, you need to pay tax only if you sell your BTC as long as you see holding it there is no tax. While selling you would need to pay the capital gains tax AFAIK. Most of countries have classified bitcoin as an asset and tax according to that.

It is good to have tax in the Philippines, since cryptocurrency can be also an income source of Filipino citizen. But the problem is that, if the government will impose a high percentage of tax in the crypto people.
I hope that the government will not make an advantage to us because probably, a lot of our countrymen will pull out in cryptocurrency.

It depends on yhe country's regulation, if crypto currencies already being legalize then I think there is a big chances it will be taxed, and I believe it will be better for the country to taxed it,  if there is no tax on crypto and all of the citizens used crypto then the income tax for the country will be decrease and can caused serious problem

Take Bitcoin and crypto away. If You are receiving incomes You should pay taxes in any industry. But rates should be fair when You compare with rates of other industries.

China has not yet formulated a suitable tax policy, but in fact each country’s government will choose to formulate taxation. After all, bitcoin transactions are relatively large.

I am also from the Philippines and whether we like it or not, we are indirectly paying taxes from our income in bitcoin. Basically, all commodities are taxable and the manufacturers of these commodities passes these taxes to us, the consumers.

The main attraction for btc are they are tax free form of investment even though transactions can be done in limited time period one of the vital thing of btc investment was that it is tax free as compared to any other forms of investment and the returns on investment is 10 times higher than any other forms of investment and we don't have to wait for longer period of time to get returns.The investors will still continue to make investments even though taxes are introduced on btc as they won't get as much profit from kinds of investments available in the market.One more main to note is that there is no need to impose tax on btc as it is automatically taxed when the fund goes to the bank account of the btc holder.

There are lots of guidelines directing taxation as stipulated by the law. cryptocurrency is still a new technology and no legislation about its operation has been put in place. this will make it difficult to tax bitcoin as there are no grounds and rates at which it should be levied. the Impossibility to trace bitcoin transactions also makes it challenging as there is no certainty on the amount to be levied.

In our country its not yet

you need to check your own tax authority as taxation is different in every country.

if so it would be difficult also for new players to develop if there should be any taxes or rules that make it difficult for new people and poor people should need to review how we can receive bitcoin safely and comfortably fit our finances.

I think that profits made with crypto currencies are usually taxable in nearly every country.
But due to the anonymity of the crypto currencies it often depends on the willingness of the owner if he really pays the taxes he is supposed to pay.
Unfortunatelly that is not always the case.
To me that is sad, because by paying those taxes the crypto currencies could gather more trust of those people who still are suspicious about crypto currencies.

no need pay taxes and no one like to pay crypto taxes

Although,  it is in every nation's law that all forms of income should be taxed,  I do not think income earned from bitcoin can be taxed.
Bitcoin is a new technology and there has been no rules set yet for it to be taxed. It will be very hard to know how and when it should be taxed.
Besides,  the fact that bitcoins transactions are done anonymously makes it very difficult to trace and taxed.
However,  I still think if certain conditions are met, there could be a way bitcoin can be taxed

In the USA any and all income you have earned (even from investments) must be reported to the IRS.

It's up to you to decide how to file. Bitcoin is a two way street, maybe you lost money buying bitcoin...
The banks can only federally report what you deposit and that's only the case if you deposit more than 10K at one time.

It does not matter what it is, or how new it is, or if their is rules in place. ALL income must be reported (at least here in the US) to the IRS

All income must be reported period! It's called "Income Tax" NOT "if you can prove it tax"

Bitcoin is not anonymous! It can be tracked and traced. I'll agree that no one can tell who owns each and every wallet, but that's not how you get caught. You get caught by selling coins to an exchange to be deposited into your bank. <----- This is when you get caught.
Banks must report deposits over 10k to the IRS, either keep the deposits low or actually claim the income and pay taxes on your investment.

If you want anonymous cryptocurrency look into Bitcorecoin, Clearcoin, Deeponion Coin, Shieldcoin, Monero, Verge, or Zen

As far as I know there are some specific income taxes on bitcoin at some countries like South Korea and United States etc,
Otherwise you dont need to pay single dime as tax cause many countries don't recognize bitcoin as currency still.

I think it is up to you if you will declare it as a source of income, then you might have to pay taxes for it. In most countries it is not required, yet.

I think the government very much aware on that issue they take that scenario as positive sign for economy of the country,  tax collector have a mindset already that whatever income of the people derived from any form of business are used to purchase goods that subject for taxes.

If realy government give taxes in bitcoin then we have no choice but to obey this since they are the authority with rules. For now bitcoin dont have taxes itself but if we convert our bitcoin into fiat money we also giving tax in government.

Of course its more good if we pay taxes to goverments because this is like a job on internet but i think this bitcoin is free to all no one can control it so i dont know why maybe some country regulated this because they know that this is a new job for all.

This one is an interesting question I guess.  Imo, basically every business or trading activities shall be taxable. Meanwhile, determining and calculating the amount of tax that should be paid is not easy at all, since every transactions using bitcoin are anonymous. So instead of answer I even come with another question "Is bitcoin considered illegal(in some countries) because country can't collect tax from it?

I'm not satisfy with this kind of regulation. I guess taxation should be done on banks and not on bitcoin. I hate that bitcoin is manipulated by the higher institution. I hope they  have solution with this problem. People needs to be independent and being a Liberian I fight for democracy. We should ellimate taxes.

I think the country's government can only do is make an external centralization which is taxing the bitcoin and regulating bitcoin outside its blockchain technology, how ? by simply limiting it's consumer for using bitcoin or leveling people to have it like net worths, the more bitcoin you have the higher the tax you will pay.  What will happen ? obviously the people will somehow lose interest on it.
 

well good news is that no country has ever gone this route that you are suggesting!
instead they simply placed some taxes on bitcoin whenever someone is investing in bitcoin. and some countries like US see it as a commodity so they can tax it easier and some countries like Japan see it as a currency so that their people can adopt it better so they only tax it once when you invest not when you spend.

I don't think that this sounds logical to begin it. Of course government will tax bitcoin if they wanted to, but I don't think that they will limit people on investing on bitcoin. Its like limiting commodities as well.

As far as taxes is concern, I totally agree with government taxing bitcoin, instead of a total ban. What we don't want to see is a total ban and then we are crypto lovers are trading behind their backs. And if we are caught, its either jail time or strict penalties which is not good for all of us.

Here in Australia we do I sat through a crypto tax seminar last night was interesting but made me angry the government want there piece of the pie.

It's interesting to know about your country, is it true that you can buy a crypto currency for cash, in any newsagent?

it will be horrible if it happens, and then the government wants to control the poor people...

In my country also you  are required to pay the taxes on bitcoin investment but there is no separate tax on the bitcoin earnings. Just calculate your bitcoin earnings in a financial year and add it to your yearly income (by job or business). You have to pay the tax as per the income bracket you belong to. For the highest tax bracket, you have to pay 30%. If the total income does not reach the minimum tax bracket, you need not pay any tax. In that tax, you do not have to pay any tax on bitcoin profit. Most of the students belong to this category.

Why it will be awful? In my opinion regulation of cryptocurrency by the government will be logical. And also taxation by taxes. Sooner or later this will occur.

How they will collect tax? That is why most of the banking system would always react on digital currency because they could not collect charges against bitcoin transaction as their competetions. Most of them will be likely to opposed on bitcoin system because bitcoin is likely more innovative than their system. However, we do not want to compromise their service so we will just let them to get what they want. Anyway if the government system will likely to adopt bitcoin system then they will just ask for it. And probably bitcoin system will be modified according to their standards and our investment will eventually die. But those are if situations to.happen. because as we all know part of innovation will be likely to unified currency in the whole world. But for the issue about taxes? No they cant since the transaction is paperless. How could they trace it?

Bitcoin in my country is currently no tax payment, if bitcoin is taxed us no problem, because the government recognizes the existence of bitcoin so that our society can easily benefit with bitcoin, and also can reduce unemployment in various countries.

Whatever i know. To start tax policy on bitcoin is difficult. But it is not impossible. China don't formulated a suitable tax policy. If government keep tax on bitcoin. It will be a good news for all us. Because there have a possibility to increase use of bitcoin. And that's way bitcoin  will get a lot of popularity.

Not yet, but there is a transaction that goes through and takes a commission. But taxes are not yet in all countries, but in small quantities.

In most of the countries, Bitcoin is not yet recognized by the law so naturally any income coming out of it should be considered under income from other sources and taxed accordingly. The rate of tax will differ in every country and I would recommend you consulting the legal experts and public accountants to get the idea of legal status in your country.

The question is a little off,, bitcoin is not required to pay tax it’s either the buyer or the seller.. So it means the person who purchase or it acquire the coin,, in many country it is a must and majority of Asian country until now have no regulation and policy towards taxation..

If you have specific country to ask,, then that should be posted as most of the time every country have different sets of unique law and if there is a local board in a country you belong and post it,, then you will have a straightforward answer from your countrymen..

Phillippines is not yet implemented bitcoin to pay taxes. But if it will happen maybe it will take time to review how does the government deduct taxes from the bitcoin user because of the bitcoin price is not so stable.

We will find it difficult for Filipinos when it is taxed and Most bitcoin users do not have much fees or taxed it.

I have two articles here, which are pretty interesting to read and fits for this topic.
The first one is about that Bitcoin & co are advertising with certain anonymity, the tax authorities already have certain tools to catch up to fraudulent behaviour, especially when high profits are involved. How can you evade tax fraud due to correct taxation?
https://medium.com/@blockpit/profit-from-cryptocurrencies-how-do-i-apply-the-correct-taxation-ba8c3f669473

and the second one is about that "Virtual currencies" and electronic “wallet providers” will be subject to the provisions of the Anti-Money-Laundering Directive in the future. While exchanges will have to forward data about their users to tax authorities, financial institutions like banks have to reject incoming payments higher than € 10,000 if there is no proof of origin.
https://blockpit.io/blog/en/5th-anti-money-laundering

People with big wallets are more willing to control the world of crypto! now passes g20! and I'm sure they will discuss controlling this big crypto market! in the last two years we have seen how bitcoin has become very popular all over the world! More and more people are investing in bitcoin, not banks! Banks have lost a lot of money on this! so they want to learn how to control this crypto world!

Here in Australia they are cracking down on Taxing crypto and currently writing new regs.

any income is taxable and countries like Israel, Russia has declared taxes on Crypto income, you need to consult your local tax authorities to know the detail.

Bitcoin required to dont pay taxes

In each country, as it develops, there will be different taxes, such as in Russia and other countries that look at Japan or the US as they develop, there will not be any taxes for a long time.

Here in my country the taxes was not yet implemented because of they are basing on the value and putting a taxes so that the value or price of bitcoin was not stable so they didn't know to compute the taxes and what are they basis to put tax and right now they are thinking of that how they implement taxes on any coins.

Since bitcoin is a form or way of having an income, in my opinion, it should be taxed. Fortunately, in the Philippines it not yet discussed and implemented since it is not yet that popular with the Filipinos. But as i can see, time will come that bitcoin users will also be taxed, i just can not think on how the government can do and control the collection of tax from bitcoin.

If the governments are clever they accept bitcoin and get tax for this.

In Australia for now they have out btc income tax as a normal income tax which is very high like 30%, so they get the skim of cream. Personally I think it would be good to be taxed cuz it would be officially accepted but I hope they would be reasonable on taxing it.

I think the country will feel the positive impact of bitcoin taxes, such as the high increase in state income. and also can reduce the unemployment of the population. so, reducing poverty.

the negative impact is bitcoin controlled by the government with regulation, and disrupting the spread.

Bitcoin should not have to pay taxes, because bitcoin is a currency and for that income can not be determined with certainty, it can be profitable and can be a loss in trade and taxable enough market traded just because we have been exposed to the cost of transactions in the market.

if in my country still not taxable because Masin is illegal. if in taxes I also agree that we are more calm and if asked others about the law bitcoin in Indonesia so much more comfortable .

NO. Not really.
Bitcoin is a decentralized digital currency so it operates without the authority of the government.
That's one of the reason why some government are banning crypto because it can be a perfect tool for tax evasion, money laundering, and some other illicit acts.

The Ministry of Finance of Russia confirmed that operations for the purchase and sale of bitcoin are subject to personal income tax (Personal Income Tax) in the same exact manner as any other transactions from which this tax is paid. The Ministry refers to the fact that Chapter 23 of the Tax Code of Russia "Personal Income Tax" does not establish any special taxation for crypto-currency revenues, which means that the general rule applies to them.

The application is contained in a written explanation, which the Ministry of Finance sent on October 13, 2017 to the company "Consultant Plus", which develops the same reference system, in response to a request. Recall, according to Article 34.2 of the Tax Code, the Ministry gives taxpayers written explanations on the application of Russian tax legislation. Explanations were given by the Department of Taxes and Customs Policy.

Yes you right, that's why people are using bitcoin because its tax free even they can earn a big amount of money they  won't have any problem with tax. And that's why government hate it and think its illegal.

Bitcoin is no exception, but just to make things more complicated, different tax departments deal with bitcoins in different ways.

That depends on the country and the regulation regarding Bitcoin and other cryptocurrencies that is changing rather fast.
In most countries you will not pay taxes on Bitcoin if you keep it in your wallet. But you will pay taxes if you are registered Bitcoin trader and if you exchange Bitcoin to fiat, so transactions are taxed.
If you are not sure the best thing is to check with tax authorities in your country.

I pay taxes in Russia, it's worse not to think up. This is how to finance terrorism.

The only tax that bitcoin is entitled to is the tax or the fees that is paid for mining during the transactions . Other than that the "taxes" were never the part of bitcoin's protocol . But after getting some huge fame and getting into the world's government's eyes it became difficult for bitcoin to sustain that tax free environment .
Now many governments have regulated bitcoin i.e imposed some taxes on its transactions in their local exchanges .

I don't think Bitcoin is required to pay taxes. It is not controlled by tthe government, thus, tax has nothing to do with Bitcoin and to all the Bitcoin users.

we can not predict there is a bitcoin tax in all countries. because bitcoin has not yet been a state in legalkan.jika bitcoin in legal government must act must pay taxes. certainly bitcoin more advanced in all countries about digital money easier for people to develop economy

      Taxes are levied in almost every countries of the world  to raise the revenue for government expenses like health care,education etc;and for several other purposes .So taxation in Bitcoin is also necessary if most of the people uses digital currencies how can the government afford without taxing .For example if you gain profit by trading in Bitcoin it can be treated as business income and if you get profit by investing Bitcoins  is income from other sources.If you buy for investment purpose it will be a capital asset.

I think the bitcoin pay taxes because if he is popular and has a high value will definitely be taxable from the country and I think the bitcoin pay and if does not pay then its value will go down and people will wear lazy bitcoin because if it doesn't pay the tax will be troubled by the law and I think bitcoin pay taxes.

Yes this is one of the main reasons why the Governments are not accepting bitcoins as official currency because it is completely anonymous and no one is paying tax even if he got million dollars so if we find a way to pay fair amount on tax then may be bitcoin will become the top most currency of the world.

Bitcoin is a decentralized cryptocurrency so I think it cannot be taced since government has no control to it. Those that are taxed within a certain country are mostly products or anything that became legal due to the approval of a government. And thos amthings are also taxed. Bitcoin basically, cannot be taxed due to the reason that in most of the countries, Bitcoin and other cryptos are not taxable.

At the moment, I have not heard any confirmation information on the issue of taxation for use or investment in bitcoin. But in my opinion, taxes can be applied in the way the US government has applied for the stock market. That's what I did not expect. In fact, it is too difficult to apply taxes to consumers and investors. The blockchain is still a rock for determining that.

Of course, the governments all over the world can benefit a lot from the tax received through crypto. Still, may governments are not understanding this and are trying to put restrictions on bitcoins in their country.

In my country, the earnings made through crypto is considered as capital gains and is thus taxable. Many people are not aware of this and thus the exchanges here have started informing the investors. Recently, a leading exchange in my country has started partnership with online tax filing company for the members using the exchange for bitcoin investment.

If bitcoin starts paying taxes to countries then governments would be forced to accept it so this might be a good thing for bitcoin

You'll have to check on a case by case basis some countries wont tax it others will not sure in what manner though.

Yes it should be because it become legal

Here in our country (Philippines) tax for bitcoin is not yet implemented, since many of our country men didn't take it seriously when it comes​ to bitcoin. Many still believes that bitcoin is just a scam, however I think maybe after few years, if they already have a knowledge with it, maybe thatd the time where taxes will enter.

Although the legal framework for trading activities, virtual currency management, virtual property has not yet been finalized and it takes time to issue related legal documents, in practice. There have been cases occur and resolved in accordance with current law.
For example, in the case of Ben Tre province, on September 21, 1977, the Ben Tre Provincial People's Court decried the tax arrears of Mr. Nguyen Viet Cuong's case for electronic money exchange (bitcoin). The court found that there are no legal documents regulating digital money, virtual money are goods and services used for production and consumption in Vietnam, so the decision was made. Collection of tax arrears and decisions on settlement of complaints related to tax offices.

I do not think that you need to pay taxes for bitcoin, otherwise the whole idea of ​​creating bitcoin will be lost!

Well the implementation will depend upon the country that you are residing on as some countries are lenient with its taxation. What makes cryptocurrency difficult to tax is its lack of any regulation among the government or any organization. Unlike any conventional investment tools present, cryptocurrencies tend to deviate from this norm since what determines its value is law of demand and supply- which makes it very distinct from the other investment tools. Although the same LAW may be utilized, its limited supply and intangible nature makes it difficult to have a stable value.


I somewhat agree from what you have stated. My colleague visited the BSP and they asked about cryptocurrencies and its status in our country. Based from what the lawyers said, they see bitcoin as a property rather as a currency- therefore making it inapplicable to legal tender. There may be insufficient laws catering to the taxation of bitcoin but once the government sees its potential, expect further regulations.

Of course, this will create the trust of society and government, as a result of which there will be an agreement and settlement!

It depends upon the country, in your country government put tax means you should the tax otherwise no need. I think still most of the countries didn’t put any tax for bitcoin. If the transaction is done for large amount then surely the government will think about tax in future. If the government put tax for bitcoin means that country would legalize the bitcoin. But at the same time few countries announced tax for using bitcoin.

In my view it is the right move in the way of legalizing tender of bitcoins in the particular country.Bitcoin must pay their fair taxes and it should be minimize.It will be beneficial to all either firms, companies,institutions, individuals or concern government.

Each state has the right to establish on its territory any taxes and fees. Bitcoin and other decentralized crypto currency can not be an exception in this respect, as it brings significant profits to citizens. If such taxes are established, citizens will have to pay them. Moreover, it will have to be done, otherwise the state, taking into account its non-interest in spreading the decentralized crypto currency, can use this excuse to limit or even prohibit the circulation of the crypto currency. Therefore, it will be in the interests of the citizens themselves to pay taxes.

Taxation on your bitcoin income varies from country to country.

It depends on the specific laws that prevail in the respective countries.

While in some countries, there is full clarification as to how the bitcoin transactions will be taxed and there are no doubt to that.

But in other countries issue of legality of bitcoin is still dubious and not much clear.

In countries that have legalized it, Bitcoin holder is required to pay taxes. And what I know is, every country has a different tax regulation, bitcoin tax can be equated with income tax, it can also be calculated with capital gains.

it is difficult to determine the fair value of bitcoin on buying and selling transactions. Bitcoin is very easy to change and there is a large price swing in one trading day.

At first, the attractiveness of bitcoin was partly due to the fact that it was not regulated and could be used in transactions to avoid tax obligations. But, Bitcoin is now listed on the exchange and has been paired with leading world currencies such as the US dollar and the euro.

Government authorities around the world soon realized that bitcoin attracted black marketers who could make illegal transactions. Sure, it is impossible for bitcoin to escape the tax authority radar for a long time.

All over the world, tax authorities have issued regulations on bitcoin. For example, the US Internal Revenue Service (IRS) said that bitcoin must be treated as an intangible and non-currency asset or property because it is not issued by a country's central bank. The treatment of Bitcoin as an asset makes tax implications clear.

The IRS has obliged to report bitcoin transactions in all types, no matter how small the value. So, every US taxpayer is required to keep records of all purchases, sales, investments in, or use bitcoin to pay for goods or services that the IRS considers barter.

The solution of taxation issues is not only for the authorities, but for the market participants, since without a corresponding tax status, the crypto-currencies will remain outlawed, which means that market participants are defenseless against the arbitrariness of the same state: you do not pay taxes-you are a criminal, with clear consequences.

so far I know bitcoin is no tax. except for reduced fees when it is converted. but I have heard that bitcoin will have taxa in the future. but it is only right for the goverment to give the tax all the money involved.

Well, even though Bitcoin can be used like money, But Bitcoin is not considered a legal currency or payment instrument by the IRS or other countries. Instead, they consider Bitcoin to be a private property, such as gold or stocks.

For example, In 2014, the IRS stated the value of Bitcoin for US tax purposes is a fair market value in US dollars on the date it was received. Each transaction fee is added to the Bitcoin base. Unless you are in the business of buying or selling Bitcoin, they are capital assets. Your profit when you use it is taxed with the level of capital gains.

Im still not sure if this is the case or not. I have been told both ways, so I don't know who to believe. Also this varies wildly throught jurisdictions, it's really very complex, which incentives people to just hold it, since we don't know what to expect.

For instance in the case of signature campaigns, I have been told that I don't need to report or pay anything until it is converted into fiat, then it's paid as capital gains.

At the same time other people told me that you are supposed to report it and it will be taxed as income gains.

The only thing I know is that I don't want to be the guy in which governments test things upon. So I will simply wait and see for this to be a more common event and have some solid evidence of what to expect and be ready for it, since I need to get all of my transactions assorted, right now it's a big mess, I need to figure out everything, and I have definitely lost some trading history on some exchanges which may be a problem in the future.. I really hate that.

Each country has its own laws and its own ways of earning money, whoever takes bitcoin and does not ask for taxes, and whoever wants to profit from everything.

Every country have their own policy for any new regulation.
IMO, it's important to pay tax because it's from us -> to us so both party have their own advantage.
Of course since cryptocurrency still new thing, it still need a process before everything went smooth !

Where it is required that taxes related to bitcoins should be charged for operations. But this situation is not in all countries.

Yes, in some countries, Bitcoin is required to pay taxes, some countries treat Bitcoin and cryptocurrency as property, so there are capital gain implications.

Well, like it or not, Bitcoin is required to pay taxes. For example, The IRS currently considers cryptocurrency as a property. All users are required to report profits. The IRS is always softer with taxpayers. Coming forward faster than later can help prevent more stringent penalties or fines for not reporting.

Yes, what I know is that some countries make rules about Bitcoin taxation.
In some countries, Bitcoin is treated like property, so Bitcoin users are required to pay taxes.

It depends upon the country, if the government of the country put tax on bitcoin means then you have to pay tax. But still the tax is not applicable for bitcoin in many countries. In some countries bitcoin is treated as one of the valuable assets. So they ask people to pay tax for bitcoin. But there is a chance for all countries will one day announce tax for bitcoin.

Probably it will happen, time to time that paying tax to the governments will happen to all countries but as of now fewer of the countries are implementing on that, while others quite not putting any law regarding cryptocurrencies. We can't deny the fact that it is possible to happen just like what happens now most companies having KYC or even just having a wallet that government easy to track us when we did not pay a tax.
But as of now, it will depend on which country you are, luckily here in my country, we are all free to used bitcoin without any charges to the government.

this is very confusing if indeed bitcoin is really taxed, to whom we have to pay the tax and on what basis the tax is applied because as far as we know bitcoin does not really regulate it and with that purpose bitcoin is quoted...

maybe if this bitcoin tax rule is applied the same as income tax or transaction tax that has been widely applied in several countries, and how to calculate and pay for it from our transactions when exchanging it to FIAT at a local exchange that has cooperated with the bank, like costs fee/gas in market exchanges

Bitcoin is viewed by many countries in different styles. All have different perspectives on how to deal with it specially on how it is to be taxed. Some doesnt and some does. There re countries which consider it as asset and tax it as an asset. The taxation varies from the place you are in so better check with your local news or laws.

if bitcoin is actually taxable. I think governments of all countries should set out common rules to bring equity to investors. The taxes applicable to bitcoin are the transaction tax between the sale and purchase exchange.

it's all a big country that actually legalizes bitcoin if they make taxes for bitcoin users because they regulate and don't want mistakes like criminal acts will occur because of bitcoin.

Its necessary if your country demands on it. This would be a professional way to do so. The country accepts bitcoin and lets you work and earn from bitcoin and allows you have a wealthy life. Crypto earnings uplifts every crypto earner's life. So this has to be taken into consideration and the earners should obey the rules and pay the required tax. This would encourage the government to bring more employment to its citizens.

the rules of the game are bitcoin is not taxed but is charged a fee that occurs if someone tries to transact and it is also not large but there are some countries that impose taxes for those who use bitcoin to maintain security.

To pay taxes or not depends on your country's jurisdiction. Here in Germany we pay taxes for everything, for trading, for POS, for mining! There are only some exceptions when we may not pay: for example if we hold Bitcoin longer than one year. So let's hodl :)

You right for now in some countries not many have implemented the tax system on bitcoin, but it is likely that for many countries to implement it, seeing the development of crypto and bitcoin is getting better and many people are adopting it, the government is certainly thinking about how to benefit for both

Many countries adopted bitcoin because of the fast and reliable means of remittances, although some of them are just using it as a remittances medium, but  because of some transaction fees the government will ask a tax to the service fees to the service provider  who are valid and registered one

This will depend upon the nations on how they will draft their Bitcoin regulations. Some countries like Japan and France imposed less tax on Bitcoin income while Germany imposed free of tax during direct spending and investing therefore it will just depend of the country but most of them just imposed tax same as fiat taxation as this is the one of the benefit of the country that will declare Bitcoin is legal.

It depends upon your country government, if the government forced to pay tax for bitcoin means then you have to pay. Still ther is no tax for bitcoin in many countries. At the same time few countries put tax for bitcoin. Mainly tax is to avoid bitcoin for illegal purpose but in future tax is applicable for bitcoin in all countries.

Hi,

In Spain, we have a barrier to ICO`s creation.
and other anti-tech-evolution laws!  They are very general and poor, but difficult to evade.

But we have to pay Taxes for our crypto thing! This is very good explained and we got some guides too!

Spain in amazing...(not for crypto)

Good day!

As of the moment my country don't required  us to pay taxes. But if the time comes that they will put tax on bitcoin. We can't do anything but to obey what our government will implement. As long as the tax will use to help other people.

what is your county?

..the implementation of bitcoin tax depends upon on what country you belong..there are many countries that treat bitcoin as assets so they impose tax on it..others don't recognized bitcoin..some treat bitcoins as a source of income..but they don't impose tax on it..the legality of Bitcoin depends upon on how people use it..

IMO, bitcoin is an asset just like gold so do you think when we have gold, we must pay tax ?
Just because bitcoin able act as currency , it require to pay a tax ? I don't think so because bitcoin and fiat are completely different.

Bitcoin is bitcoin , an ordinary investment asset but it has unique advantage as fiat

I don't get it how a goverment can get taxes from citizen which got bitcoins if bitcoin is an anonymous asset?
But authorities could easily put taxes on crypto exchanges, so every transaction could already include tax values, so make it easer to ordinary  crypto investors.
At the same time, sure the cryptomarket needs stability and crypto enthusiasts need clear rules to follow.

Depends upon the country where you live. I live in a country where either bitcoin is banned nor accepted, hence i do not require to pay tax to my bitcoin earnings. We do have countries who have rules on paying tax to bitcoin earnings. Few have less percentage to be paid as tax, few do charge more which is really not welcomed. Its good to pay though and i will do so if my country allows and creates facilities to earn bitcoin. Worth paying my government tax if it supports me its citizens by creating rooms to earn bitcoin and other crypto currencies. 

You are unknowingly evading your taxes which is also illegal. Bitcoin even if it is a new asset or kind of cryptocurrency was never exempted from taxes and anyone who was under in that kind of impression/thinking is not paying their taxes right. If you are simply earning from your cryptocurrency you can be taxed may it be income tax or capital gains you still need to pay. If I were you I will start paying my taxes right before a random audit happens to you.

But how could you pay the tax that the government did not implement of paying tax from crypto earnings? That scenario is just what like happens here in my country, the government did not implement on that having tax or forcing us to pay tax. Besides, our government recognized that bitcoin is an alternate currency here. Even me I don't be hesitated to contribute tax I know that in that way I help the economic growth problem.

I won't go through with any political discussion but that's what a law abiding citizen must do, pay taxes if the government will require. But time will tell when adoption comes, expect that it will be taxed.

There are countries now that are obliging their people to pay taxes depending on the profit they made with crypto's, not only with bitcoin.

I know there is no tax paid for bitcoin. many countries do not accept bitcoin and crypto, this is because they do not know how to tax it. Governments of different countries can hardly accept the crypto especially and there is a bank first initial blocking it.

No bitcoins do not required taxes but why use bitcoins.  Buy instagram followers at https://myigfollowers.com in cheap price via paypal.

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If bitcoin does require tax, what will happen to people who hold bitcoin for as long as they hold and their bitcoin reduced? there are only losses that can be and certainly the crypto currency will no longer be the bitcoin holders.

This will depend upon the nation regulation policy if their goverment would declare tax on Bitcoin or not. Although taxation is one of the benefits that a certain country could enjoy but still it will defend if they will just consider the welfare of the people like in Japan in which they imposed less tax on Bitcoin and in Germany in which their is no tax to be collected from the Bitcoin users in their place.

The tax issue is a little complicated. Isn't it hard to make the calculation?

Who will control the payment of Bitcoin taxes?
The government has received many taxes, such as building taxes, vehicle taxes, land taxes.
Whereas Bitcoin runs on the internet, how does the government impose taxes?