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We see it everywhere. To counter that coronavirus disaster, governments are spending money like there's no tomorrow. Budget's deficit will rise to new heights, never seen before except during war times. In US and EU, debts are staggering. The Federal Reserve and the European Central Bank are printing money faster that I'm writing it. If you ask what's next, I'm afraid there's only one answer.

In most countries, governments will have no other choice but to raise taxes. They will have to be smart to avoid killing the economy, but they will need to bring more money to balance their budget (or more likely to reduce their operating deficit).

As I haven't paid any income tax since 1997, that's all right with me, but I urge all fellow Bitcoiners to organize themselves, and to plan ahead to avoid the worst...

Or could I be wrong? There will be no more taxes next year?

eventually you're right, but in the next 1-2 years i think governments will be primarily concerned about getting economic growth back on track. they won't want to hamper that growth with tax hikes.

the push to austerity will vary from country to country. the USA can print a few trillion dollars without anyone caring, hence the stark difference between american and european stimulus packages. high debt-to-GDP countries like greece, italy, and portugal are more urgent concerns.

then again, the november election could shake things up. if democrats take control of the senate and/or presidency, i could see them repealing trump's $1.5 trillion tax cut passed a couple years ago.

Nah,I think that the governments will choose the "inflation tax" rather than rising the real taxes.
Money printing,negative interest rates and quantitative easing will continue forever,because the economies are now addicted to fresh fiat money and low interest rates.Raising all taxes will kill the potential recovery from the corona recession.
Anyway,there's a possibility for the governments to raise and impose new taxes over the cryptocurrency world,because crypto users aren't that much and raising cryptocurrency taxes won't damage the "brick and mortar" economy,therefore it won't cause protests.

And how you are suggesting to avoid taxation? Fake kyc on exchanges? Never convert crypto to fiat?

The Fed chairman says now is not the time to worry about the national debt. Trump wants to cut even more taxes in the next stimulus bill. So we should probably expect the deficit to widen for a while.

If Trump gets re-elected, no way taxes go up next year for Americans.


Sounds really sustainable. :D

I don't think raising taxes is not a policy that will be taken by the government after the pandemic. Precisely after the pandemic effect in conditions of recession, depression or great depression (depending on the time of the completion of a pandemic in a country), the government will boost consumption with a lot of fiscal and monetary stimulus, given the export and import markets have not been active due to disruption of the global supply chain due to corona pandemic alternation between countries.

The country will focus on domestic consumption, both in terms of meeting supply and increasing demand curves. Maintaining investment in bitcoin is the right choice now from the point of view of investment but on the basis of humanity and togetherness, we must also set aside a budget for investment in the real sector so that the economy can turn back. Small rounds in large numbers will push a bigger rotation and the economy back on its axis.

I tend to agree that after this lockdown or quarantine when things are back to normal there might be changes on tax where government's fund is coming from. During this period where the government is spending much of their funds to help everyone that is affected by the lockdown then after this crisis, they need to bounce back and the first thing that they will think in how they can recover again is through taxes.

Probably there is an increase on the tax that they'll be charging for faster recovery anyway after the quarantine everyone will work hard to gain higher earnings though changes on tax might hurt it will still be the only way for us to help our government besides they help us as well during the lockdown just try to think that you are only returning the help they gave you when you needed them.

Bitcoins somehow may not be affected directly for it is decentralized however using it for commodities will still be the same as buying an item with the higher tax you will still be charged for the same amount the already includes the tax. Hopefully when the election comes people will be wiser in choosing the next one since we have already tried those politicians during the crisis.

I think the government with crashing economy has only 2 option for imposing taxes after the pandemic crisis, It's either they will issue an increase in taxes for the economy to quickly recover or they will stick on their taxes percentage like before the pandemic came but the economy will recover slower. Besides, if workers will pay for more taxes, let's say half of their wages are going to be in taxes, they will surely complain for it.
The government will start to save by that time, exports will be limited to necessary products only, domestic products will be fully consumed, by doing this the government's expenses will be lessen.

I expect capital gains taxes, the most relevant to Bitcoin fans in many places, to be cranked up.

To the average broke person it's a tax they'll never pay and certainly won't care if the better off are hit with it. They will perceive it as unearned money so it'll be neutral enough to the average voter.

Not sure how the properly rich will avoid it but as ever there'll be a way.

Governments will be desperate to keep spending going so straightforward tax rises on income or goods are less likely.

The government has no choice but to spend, we are just happy now that we receive some allowance from them but we did not realize that it will be taken unto us slowly, it's correct, they'll get it from our taxes and that's the sad reality.

Luckily, my business is not registered so I don't have to pay taxes, but in some way like Value added tax in our country, you pay taxes when you buy foods so everyone will be affected as the price of our basic needs will eventually increase due to the tax attach from it.

I think the government doesn't need that. Although their budget is in a serious deficit, if you have money, you can provide relief to those who are unemployed and need food. It is also an activity that increases GDP and helps the poor. sometimes when we pay taxes on them most of the money goes into the pockets of corrupt people. There are always such components in the state apparatus. so we'd better do charity.

Saving BTC is good for future investment, however, we also have investments in real life like having a business or some even have a job where both of these we are required to pay taxes. We let the government help us to this situation we are experiencing now, their time will turn that they will be getting the favor from us, and we can't do anything but to comply because tax is the lifeblood of the government.

Every country affected by the economic crisis due to a pandemic has a policy on tax issues that are implemented, some taxes are exempt for one year and there are also delays over the next few months. This budget deficit has a large impact on economic actors and is unprecedented

Taxes have existed since ancient times, and they still exist today as something that is inevitable if we want to live the way we live. The current situation has completely changed the direction of money circulation, because instead of doing what they know best (collecting taxes), countries print money and finance ordinary citizens and companies with free money. Most people know that nothing is free and that the bill will have to be paid sooner or later.

It is also a known fact that the burden of crisis is always borne by those belonging to the low or middle class, and that as always the rich will end up being richer, and politicians will still wear expensive suits, drive in the best cars, and have above average incomes. I'm ready for any taxes, they can start charging taxes on air which I breathe or any kind of pointless tax.

When it comes to crypto tax, if you buy/sell through exchanges that ask for mandatory KYC then there is no choice to pay or not to pay, especially if your bank is involved and you withdraw fiat to your account.

That means more rally and more resistance with the current government so I think that would not happen. The government is not deaf to the people's shouts and banners so I think they would create new policies masking these kinds of taxes so they could implement it without the people knowing. They don't have a choice since if they really wanted to get their economies back to the normal run, they would do that.

I've seen this lately on the news and it's for US and possible counties[1] but, I'm sure that there will be a domino effect and our local government will implement the possible tax hike that has been said. The printing of money which will cause inflation and the hiking of taxes will be sure a hard-hit for most citizens.

[1] Nashville mayor proposes 32 percent property tax hike in response to pandemic (https://thehill.com/homenews/state-watch/495311-nashville-mayor-proposes-32-property-tax-hike-in-response-to-coronavirus)

You are right about taxes. At the end of this process, the authorities will ensure that the public pays a large part of the cost through taxes. But to be realistic, there is no way to escape from taxes by buying BTC.

Taxes are generally collected in 2 ways. On the income you get and on the money you spend. You cannot avoid taxes by buying BTC and HOLD from both of them. Of course, if your income is not with BTC.
Apart from that, most of the taxes are deducted before your income reaches you. And you will continue to pay taxes on what you spend.

Certainly the governments will look into filling the budget holes after the pandemic crisis, but will it affect the crypto people? Perhaps only those who trade high amounts legally with KYC and other identity verification procedures.

you havent paid tax since a long time ago  ? how come its possible ? or maybe your just a small time person that doesnt have a huge house or business , etc something like that  . anyway i think there will be no taxes to be payed yet or it will be lesser now that we are still in a bad condition . i think they will understand that themselves but sure they can double it soon as long as we are now on recovery and people are also going to understand it   . but why suggest saving btc  ?  i think by using btc we are still obligated for taxes

The world is now facing a severe economic recession. Countries must lockdown their borders with each other, causing the trade of goods or tourism services to be stopped. People are unemployed due to bankrupt businesses. So, the United States and Europe are forced to print a lot of money to support their people in this difficult time. This will lead to very strong currency inflation in countries with heavy economic losses. I think the government will not raise taxes because everyone cannot earn much money compared to before.

That's likely to happen, some countries including mine are giving dole out and relief support to workers who are working on a no pay no work basis, the only way to recover is to ask loans from other countries, cut spending, but definitely they will add more taxes to companies and their workers, but it will only happen months after the pandemic is over.

The government does not have any option but to spend right now, no one from their citizen are working to pay for taxes ( for countries that is under a lockdown) and we as the citizen deserved to receive help from the government during times like this coz that is their duty, money can be earned again but the lives of many is more important right now. Products prices soon is expected to increase as we need to recover from our loss as soon as possible so we can start the normal life again.

The thread should really be about getting ready for more expense in general. A lot of things will be disrupted, some services won't come back, some will have their competition eliminated so will be free to jack prices up, whole areas will be less viable so will cost a shit ton more than they did before.

Taxes will definitely increase. But not just because of government interventions now fro covid-19. But because all world governments realised that in time of crisis they can rely only on their economy. So they will start to nationalise some industries and be sure to have companies in their countries.

Of course, there will be a delay. Governments won't kill the economic recovery while it's starting.
Tax will only be raised in 12/18 months. So my advice is to withdraw your money from banks, where governments can see it, and buy BTC or valuables which governments cannot know anything about it. That's what I've been doing for years.

Actually they will give more relaxations for the next two or three years then only they can increase cashflow among the country so you should not be worried about paying high taxes right away after corona but you have a point they have no other choice to tally their spend money other than increasing taxes so wakeup guys or you will never be able to save any money.

No matter the times taxes are always present in our lives. It is true that in the coming months a thunder will strike financial world, the urge for money will be greater and the prices, including taxes policy will ask for more money.

Sure there could be higher taxes but at the same time they could literally just postpone the payments as well. With taxes they are solving a deficit problem, but with printing money out of thin air they are not creating a deficit are they? I mean they are creating a deficit but not in the budget department, they are creating nation debt, they are printing money to pay for debt and the money becomes less valuable which causes the inflation which is the root of the problems which tax can't solve honestly.

I think the result would be more about bonds being worthless, that is the risk right now not the taxes. However putting money into bitcoin works both ways, you could always have bitcoin to get away from less valued fiat as well because bitcoin will rise in that situation too.

I would rather pay more taxes (at least it means I'm still alive) than die. In my country, they say the most effective solution to the debt is economic growth. The government is betting on economic recovery but the problem is the activity will really start again in several months, not immediately, in 2021 we will still be in the crisis

After the 2008 crisis, they increased the taxes but they decreased it also just before. I don't know if it's the best solution but better than nothing, what could we do without it.

I think it will depend on the economic measures of each nation. Covid19 is impacting differently in each country. What is certain is that we need to recover and return to normal. The crypto community is sure that Bitcoin is its asset and will look for all ways to protect it.

You should worry about more taxes on cryptocurrency if you use cryptos for taxable events (trading cryptocurrency to fiat, or crypto to crypto, using cryptocurrency for goods and services, earning cryptocurrency as income). But crytptocurrency transfer and buying crypto with USD aren't considered as taxable events.

It depends on the country you are living if your country considers crypto as an asset then you may be supposed to pay taxes even for holding bitcoin.

Some countries consider it as an asset you you need to pay taxes for your capital gains and some other countries asking corporate taxes for the profits you made while holding cryptos.

in the states, it all comes down to the 2020 election IMO. obama increased taxes within a couple weeks of taking office. pollsters give democrats a 55% chance of winning both the white house and senate. (https://www.barrons.com/articles/democrats-have-55-odds-of-winning-white-house-forecaster-says-51588361715) that would give them both houses and the presidency---free reign to have a spending and tax hike party.

according to a trump economic advisor:


under trump, no more coronavirus relief, and a return to tax cuts?

You haven't paid your income taxes since 1997? So you generate $0 income in real-life?

It's not that hard. I haven't paid any income tax for years. I simply conduct all business in cash and had enough profit from my Bitcoin investments to make me not worry about legal employment ever again. I'va also been employed without any legal agreements for years and have done pretty well doing it. I'm not saying that you should do it, but that's how it used to be done for centuries. When somebody wanted a job to be done they'd come to a vebal agreement with a contractor and you can guess the rest. It's today that you're forced to sign contracts and pay taxes on whatever you were paid. It doesn't mean that this is the only way to live.

yeah it really does depend on the country, some countries are harsh with cryptocurrency to the point that they are trying to centralized the exchanges that is running under the government to impose for more taxes that hurt the users. So far with my country, it is very open to the idea of digitalization such as digital payments and cryptocurrency, however there are still some bad imaging that is circling around the use of crypto to scam gateways.

Countries in Europe seems to be the friendliest among all the country, the first ever atm machine that supports cryptocurrency is built and now being used in Europe, I barely remember which country is it, but I'm pretty sure it is in Europe.

I quite admire your self-awareness and the spirit of contributing to the community.  But my point is that the government doesn't need that.  I have always had negative thoughts about the state apparatus, where there are always those who corrupt our charity.  So I think we should have other plans to support the economy.  Why don't we buy food and distribute it to those in need?  That would be great gesture and make them feel happy day in and day out.  That would be the most meaningful action now.

Lucky you!
I haven't find anyone willing to pay me cash or with BTC. I'm always paid with bank wires, so I had to be imaginative to avoid tax. I pay property tax and consumption tax everywhere, that's more than enough. Governments on a diet can only get better.

I hope the coronavirus will lead to a strict diet for all governments, but I know that won't happen. They'll keep on spending like crazy, and that will lead to more tax someday.

They are the most corrupt if people would only know.
What they are spending is not their money, so they can spend it like crazy on projects or whatever it is but they always get a cut on it.
Though most of the time they look clean but they know how the play the game and we are the one who will pay for what they are doing.

Keeping Bitcoin is a great strategy for the future as fiat will just continue to inflate.

I still didn't read the information from any media (television, newspapers, or an article) stated that will be higher taxes in my country. I don't think it is a good idea by rising taxes after many people lost their jobs because of the Covid-19 outbreak. How they can pay for higher taxes while they even have no jobs? Only a government with no heart that applies this way, then surely will be a massive demonstration by the citizen.

Many people don't realize that after the corona virus crisis ends there will be another disaster waiting. Almost all countries print money,
and its effects will be felt after the crisis is over. The government will definitely raise taxes, because it's the fastest solution to make
the economy stable again.Therefore it is better from now that we collect bitcoin or move all our wealth into bitcoin. Because only bitcoin
which is not taxed.

Reducing army spending can cover all the damage caused by the coronavirus disasters, but no one will do it!
Some countries who don't produce oil are profiting from its low price and the reduce of its consumption due to confinement, but they will keep the profits aside...
I am not an economic guy but rich and businessmen are getting richer while normal citizens are sinking. Taxes may rise but for sure everything will be paid by the hardworking gentlemen... BTC can be an option to avoid some harassment but people will rarely move an important part of their savings there...

Thats possible, they need to raise the taxes for business, employed people and overseas worker etc. In fact even now that the virus is still existing they already make a move by increasing the yearly philheath contribution (its a health insurance) of overseas worker and its compulsory, if you didnt abide then you cant go to other country to work unless you settle the payment together with the interest.

So instead of we can smoothly go back to our normal lives, another burden is coming because the government will increase the tax to restore their financial stability.

after the lockdown, the government wants to raise taxes? Well, that was suicide. however, some people have no income since the lockdown, or influence of COVID-19. many people are out and do not have jobs because of it. the government even urged to remain at home. I'm not really sure that they will raise taxes. however, just in case, I don't have much cash right now.

Due to this epidemic, the financial condition of all people is very bad You're right no one wants to pay taxes once the virus is gone How can people pay taxes to the government if they do not have enough income? It is up to the government to find a way to cure it. Taxes must be waived by everyone Also many do not have enough capital to save BTC in case they are suffering financially from all sides No one is ready to pay taxes in this situation.

Yes, in this global crisis, the level of the economy will slide back a few years. Very difficult times may lie ahead. States will raise taxes to survive, and as a result, businesses will raise prices for their products and services. We need to find new ways to earn money and optimize our expenses.

Probably, yes. After this pandemic, they will recover from its losses due to the covid-19 and they will surely make the taxes higher because of the huge budget that they've spent. People are really vulnerable especially those who don't have a budget for more than a month of quarantine because work are also suspended. The economy of the countries really dropped as soon as this pandemic is spreading in every part of the country, maybe because of the stock market that is really necessary to proceed. Don't tell me that some other countries are controlling their economy without any damaged, only China can do that and it is suspicious how they manipulated and maintain their economy when the covid-19 really originated from them.

I agree with you about the virus originating from China. and I believe they will pay for their cruelty. European countries are looking for evidence to accuse China and if this works, I believe China will soon collapse and things will get worse for the economy in Asia. This political battle will remain fierce for a long time and we should prepare for the worst. Not only will taxes be higher, we may have to prepare for WW3.

For me, I think these taxes are the material for the economy of a country to retrieve all of its losses due to the damage this covid-19 brought to us. Citizens are required to pay taxes higher than before because of the governments support to them. Government that are responsible enough in helping its people during the pandemic should focus on sectors like agricultural so that they can have more supplies in stock market.

The important thing right now is to become safe and far from the virus because it is much more expensive if you're admitted in to the hospital so as much as possible, keep away from the virus and focus on the taxes that you need to pay after the quarantine had lifted up. Everything will go back to normal soon when we are all in the process of recovery.

No one is expecting this to happen so we just need to face the reality that this pandemic is existing in our time. Just continue to live and take care of the people that surrounds you everyday.

Economic crisis all over the world is going to happen in 2020 and mostly it will be visible by September.
Taxes and other kinds of measures are going to be taken. As a result, the income of people is going to decrease and this is going to bring poverty again - same as it happened in 2009 when Leamann Brothers fall.

Wow! Thank you for reminding that.
I have never really thought about it.
Perhaps many of us did not.
We are thinking more of how to survive but yet we are forgetting what will come next.
Yeah, they might really do that.
Increase the tax to recover faster. This will happen mostly to countries which are in top. To keep up with that ranking.

For sure, taxes will continue next year and the years to come. That is something anybody cannot totally avoid. Of course, there are a few special countries which do not need to impose income taxes to their citizens, but it does not mean that taxes are altogether erased. Taxes are imposed in so many ways. As a matter of fact, every product's price must have already a tax in it.

It would be insensitive of the governments to impose additional taxes to the people or to businesses just when they are beginning to recover from the losses and zero income due to the pandemic. It is simply untimely. If there is an increase of taxes due to the huge spending in line with the pandemic, it should be imposed later when the livelihood and business operations have fully recovered. 

Some countries will rise taxes no doubt in that, in some countries people already have regulations about crypto and people pay their taxes on crypto. In my country there're no laws about crypto for now, and I don't pay taxes on that, I pay regular tax and I can't avoid that! But we all have to think about the future, and for sure each of us should have some stash in crypto, somewhere hidden, to not pay anything on that, just to keep it safe and to use it only in emergency, in any way that stash will stay safe for future!
I think that now we can't deny all other alts, so save you bitcoins and your alts, when regulation comes governments will try to take coins from us. They didn't do anything to help us in all these years, why would we give them anything?!

That is the most rational thing that any government should do, maybe raising the taxes is a good thing, we really need that recovery since the pandemic made a halt in economic function. Sure it can cripple people when there is a sudden tax raise but I think that it is up to the government on how they will approach it. I agree that reserving your bitcoin is a good thing because at the very least, you will have a safe haven to go to when things get tough.

Besides, people should not complain about tax because those taxes you hate are the stimulus packaged that helped you in the time of pandemic, that is just my opinion though, so feel free to disagree.

When the pandemic outbreak coronavirus becomes active there are a lot of countries and people getting affected because some of them make a hoarding to the things they need on their houses to survive into a long quarantine which hits and make a huge impact to the economy like the recent problem into other countries which is hoarding a lot of toilet paper and by that it cause of inflation that increases the market price of this product and makes a lot of additional taxes it is not quite fair because what happen to the people cannot afford those kind of items.For having a pandemic outbreak I think the use of the bitcoin is just use for other platforms but for now I think it is quite hard if they are trying to adopt the use of the bitcoin transactions because it makes a lot of paper before it will legalize into a country but still we are looking forward that many people will use this kind of payment transactions.


Also tax is part of the payment to the government which is will help though out the pandemic they used out taxes to buy a lot of things needed to fight into the outbreak still it depends on your government if this may give you a good service or not.

Governments needs money to support the Covid response steps taken to mitigate the effects of the Virus. It is quite fair and useful because these budgets are for our own good and might be used as fuel to stop the virus.

Taxes are some of the biggest dilemmas in the whole world, and that makes me really sad. Normally why do people get taxed?
Well, because they pay taxes to get something in return. When you get robbed and cops show up, do you pay for them? No. When your house gets burned down, you call firefighters, do you pay them? No.

Well, for some reason there are lines in nations and all nations have different lines, some have free healthcare while others don't, some have free education while others don't, some have UBI (rare) and welfare while many don't. Basically, taxes should be used for goodness of the population. However, the most common thing you can hear from people is that their taxes do not go back to them directly and usually some people take their taste first, which is why they hate taxes, and that saddens me.

the money that they spent is not even came from thier own pockets but it came from peoples wallets via tax so why not worry for them ? and you said they are printing money fast so this is another reason to not worry . all of this help are free because most people dont have jobs  . lets try not to think the outcome after this but lets just enjoy living a less stressful life inside our house without working .  bitcoin is a good way to avoid tax too so ur suggestion of keeping btc for use is cool

If they raise the Taxes , people will starve , they don't even have enough to eat for the time of quarantine , I do think if they do this then sooner or later people will overthrow the government.
Only rich people should be paying taxes are a time like this , why bother the poor when they are right now living marginally. Government needs to understand that they cannot keep their economy stable after causing harm to the general population.
They need to focus on recovery first , not on the economy , it is important but more important is taking are of the people who elected the government.

People will starve? its not gonna happen, they will not just raise taxes right away, it will be carefully plan but we can expect a taxes will be taxes, it could be in a staggered basis until the economy will fully recover the funds they've spend during the economic crisis.

And who is to blame if they are poor? Me, the riches, the government, or themselves? They should have considered making a tenth of a child without being able to afford it BEFORE.  But hey! They rely on free money from gov. 12 months per year and who's paying for it?

Poors don't pay taxes, being not eligible by the way, all they do is to suck the money from the government. Can't even find a decent job since most of them have low education.


People want Bitcoin to become legalized and regulated but they don't want to pay any tax (they only accept profits).... the irony...
The same type of people who want a 'Super State' but complaint about taxes thinking it's free to build hospitals, roads, schools

Even if there were no problems with the appearance of the coronavirus, anyway, over time, governments would gradually introduce or raise taxes on any activity related to cryptocurrency. States do not need a decentralized cryptocurrency, and one of the effective methods of combating any type of activity objectionable to the state is the establishment or increase of taxes. It has always been so. Especially when it comes to financial activities.
However, cryptocurrency is a special type of financial activity that is not always amenable to direct regulation and control. States are in no hurry while they are studying cryptocurrency.

The whole world is now facing corona effect. Every Countries face lockdown, thats why the trade of goods or tourism services to be stopped. People are unemployed due to bankrupt businesses. The United States is print a lot of money to support their people in this economic difficult time.This will conduct to same bright currency inflation in countries with cloudy money-spinning losses. I meditate the authority will not produce taxes as each person cannot earn a large amount currency compared to before.

There is a chance that different country makes a huge or a massive increase of their taxes because we know there are a lot of countries getting affected by this virus and this is not quite good and one of the things they need to do just to recover is the increases of their taxes to the items as by the law of supply and demand there are chances they will do this but still, they need to make a recovery first on their country before they do this because many people getting affected by this because we don't have enough economic growth and recovery. I think even we hold a lot of bitcoin still there are only a few counties and stores only adopt the use of the crypto still we are looking forward to it only. One of the things needs to focus on a single country is to comeback their GDP.


There is a chance that they will not make it out but I think after a few months they need to rapidly increase their countries earnings and the outcome so they need to adapt like the ideas of the other countries or increase the taxes.

They would not do that now, there is a timing for everything and that's definitely after the pandemic.
here's what is happening, now that people are not allowed to run their business, the government will give them the support but in return, the government will have to increase the taxes once the pandemic is over as they have big loses at this time, so we can expect it will certainly happen, this would happen in countries who are affected with the covid-19 heavily.

Do you think what you says are relevant?Government are spending money because they need to help People because of this virus,i don't know what your mind shits run to you.
your too early to talk about tomorrow when the problem must be faced today first,mind to make best post than like this?

Look how shit you are?not paying any income tax for more than 20 years?you are the one who must be blame for all of this.

My government runs a multiple tax system they have even risen VAT, the government of my nation are a block head looter, unrepentant. After the lockdown I planning to shutdown my office and face proper trading and investment rather than paying huge multiple taxes to reckless government spending.

Unfortunately, countries with some economic problems have already started to increase taxes before the pandemic process ends. For example, Turkey in the last 2 weeks into technological products from apparel products to luxury goods made from everyday needs tax increases in everything. People are already in an economically difficult process and cannot find cash. In addition, many people are unemployed and cannot see their future, but despite all this, the government makes the non-people's budget even more difficult with tax increases. Besides, unfortunately, the tax amounts I mentioned are not very low, but there are also absurd tax increases. Let's see what happens to us.

Printing money is an escape from bad today but is a way into worse tomorrow. This will really create inflation in countries. In any way, expectation about economic situation is very bad right now and when we add printing money it looks like adding fuel to the fire. Id they raise taxes, then it means business will fail and in this situation economic fall is guaranteed. Right now some business needs support to keep functioning and emploeeys. If you raise taxes, wages should be reduced or even some people will be left without job.
In any way situation is bad and printing money is only a deal for a while. Psychology playes big role in economics too. When someone starts selling something, people follow it in panic. Can say the same on opposite process - buying. So they have to somehow balance situation and slowly and steadily overcome this economic crisis.

The Turkish government is changing the current tax regime to boost revenue. Increase income tax rates for high-income people and impose new taxes on hotels, impose new taxes on high-value property, to digital service taxes that target OTT (over the top) companies because technological developments allow digital companies to have commercial operations in a country without the presence physical.
https://www.pwc.com.tr/en/hizmetlerimiz/vergi/bultenler/2019/turkey-s-new-tax-measures.html

I think that Turkey is very good at collecting more taxes from those on higher incomes and requiring less than those on lower incomes. The additional tax burden is targeting high-income people who are not overly affected by corona.

But public banks in Turkey also lowered interest rates especially for traders and farmers and the Ministry of Finance also subsidized these loans. With this reduction in interest rates, it aims to reduce the cost of agricultural production. The government also cut interest rates on mortgage loans to revive the property market so that the construction sector and sub-industries also survive.

The government of every country must reduce this rate of interest Everything is closed. People live in lockdown Office, court, business, trade are all closed. How will they pay this tax to the government? There are many poor people that don't get enough to eat If there's no government tax at this point many will face problems. the govt is imposing VAT on everything and increasing the quantity of tax The epidemic isn't yet fully in check But if we will solve this problem by investing in bitcoin blast to save lots of bitcoin from sitting reception.

The world and countries will face an economic double shock both on the demand and supply side. Disruption of the global supply chain, social distancing, and smooth flow of cash will affect the supply side. Meanwhile, the threat of a wave of layoffs and reduced daily income affects the demand side.

Expansive fiscal policy is often an option taken by many countries when facing a corona pandemic. Great shopping and relaxation tax collection are the main moves. In a pandemic condition, the tax sector will be hit hard, namely, an economic slowdown that reduces the tax base and tax expenditure will be disbursed. Steps taken by the government in the short term will affect the medium-long term fiscal posture. Relaxation now may have an impact on excessive collection in the future.

One that needs to be anticipated is the tax authority's strategy to increase compliance. Covid-19 pandemic provides an important lesson for all tax authorities, namely information technology-based tax administration readiness. The use of IT will be developed not only for services and reporting, but also extends to auditing, access, and the use of artificial intelligence. The principle of tax administration based on transparency, efficiency, and real-time will be fully supported by information technology. In addition, trends in strengthening tax authorities, changes in business processes from the ability to access to information processing capabilities, and expansion of the cooperative compliance paradigm are expected to increase to optimize tax compliance due to pressure to overcome deficits and debt, and efforts to maintain economic stability will encourage various changes in tax regulations.

The government should consider the fact that everyone is not doing any thing to get a money, all of us have just what we have saved from working and some relief that is given to us. The government should choose the long road for recovery, they should not impose higher taxes just to recover the losses that they have got in expense of people's hard work money. Tax is progressive but do not increase it by a sudden because of the damage recovery idea.

According to leading economists and financiers of the United States of America, the country should return to strong economic performance after a few months.  That is how much the US economy will need to return to its initial levels before the coronavirus pandemic.  The media stated that the US Senate passed a bill where $ 2.5 billion is allocated to support the economy, and the US Treasury is planning to pay about $ 2 billion for small businesses that suffer from the coronavirus pandemic.  That's just filling the budget is probably happening at the expense of citizens and it seems to me that the main burden will fall on the shoulders of ordinary taxpayers.

I don't understand this "governments will have no other choice but to raise taxes" argument.

It is just another excuse to tax us to death. If the government is facing a shortage of funds, then they should reduce their expenditure. A lot of the government expenses are directed towards wasteful spending. The solution is to reduce such expenditure and not to go after hard working people. We are already over-taxed. It is not possible to feed the government machinery anymore.

But no government I going to do that, they will ask their people to balance their economy by paying all the money that everyone can earn.So we are just a slave to our country to be honest.I feel the old age or even stone age is better than the modern world.

Well, I guess there's a silver lining of being not yet employed because there is no taxes that I need to pay ;D. Plus, there is no concrete regulation with regards to crypro earnings here in our country so I can freely enjoy all of my btc savings without any major deductions. However, I make sure that I will not feel comfortable and do unwise spendings. I just continue saving money to have a reserve in this crisis times.

You would think that it is aiming at the higher people but the reality is that the difference between "middle class" in turkey and poor people are getting closing and closing more because it hits the middle class more than the rich people.

Stuff like iphones or new playstation or whatever increasing is not "aiming at rich", sure it is not new tax on potato, sure it is not for bread, I mean if we are talking about just the survival stuff, the taxes staying same there, and if we are talking about "luxury" stuff as iphones, then yeah we can say that they are doing taxes well.

However I believe regular life stuff should not really be that high taxed, cars, houses, those are already taxed high, maybe increase the taxes on houses over 1 million dollars a lot more, maybe yacths, maybe give the super rich people some more income tax when it reaches over 10 million revenue per month. When you do tax a playstation, that can't be considered high end luxury, that is just middle class, even some poor people have it these days.

That's right, that's why hold crypto as your investment in the future because price might increase significantly as the demand increases.
We are in crisis right now, and that will affect the future value of our fiat, if you put money in the bank, it will just be hit by inflation because tax will certain increase for the government to get what they spend in this crisis, for now,  I can think of working is just to at least get some alternative of income and to be able to build a credit line since you can't borrow money from the bank if you don't have a legitimate income.

I think that during the global economic downturn due to the current COVID-19 epidemic, many large and small businesses have difficulties in doing business, workers are unemployed. The government will not raise taxes on people or businesses because this measure will make the economy worse. The government is printing a lot of money to support people and businesses in this difficult time. But printing too much money will lead to inflation and the price of goods will rise sharply.

taxes will probably go up for next year in all countries because of the crisis due to the coronavirus that must be experienced in almost all countries to restore the economy of a coronavirus. all countries that who uses cryptocurrency will be charged this would probably take effect next year as a result of the pandemic global all countries expect to recover gradually to return to restore the economy.

They won't raise taxes next year because the economy is also difficult to recover immediately after the pandemic and the unemployment rate is still very high but they will levy taxes on markets that they didn't care about before. What you think is true, many countries will be more interested in the cryptocurrency market, they will impose taxes on exchanges.

That would be big success for the crypto market, we will be recognize by the government, we will be regulated and it will help to attract people to invest more in crypto and the adoption we are looking will definitely increase. Taxes is normal, once the government regulate a certain industry, they also collect taxes at the same time.

We have to stop looking at taxes as a mighty system for achieving social goals, which merely needs to be made “fair” and rational in order to usher in Utopia. We have to start looking at taxation as a vast system of robbery and oppression, by which some people are enabled to live coercively and parasitically at the expense of others. We must realize that from the point of view of justice or of economic prosperity, the less people are taxed, the better. That is why we should rejoice at every new loophole, new credit, new manifestation of the “underground” economy. Every economic activity that escapes taxes and controls is not only a blow for freedom and property rights; it is also one more instance of a free flow of productive energy getting out from under parasitic repression. Long live BTC!

       I am worried about this incessant printing of money during this period. It is true that the virus must be fought, but inflation is rising. An extreme case is Venezuela, where the money has no value and I think it can be found on the street. Regarding the spending of governments worldwide, citizens will also have to lose because taxes will be higher, and normal people will go through a difficult period and after the end of the pandemic.

Therefore, you need to invest in something that cannot be printed in huge quantities, Bitcoin, other cryptocurrencies, gold, works of art. They certainly will not be able to depreciate, because of the monetary policy of any bank that decided to print a couple of wagons of money.

You are right, it's the system of oppression, but more of a system that allows the politicians to realize their goals at your expense, because they are not your goals, they are their goals.
How does it benefit the average taxpayer that the government builds itself a new marble statue, or a marble staircase in one of their buildings? How does it benefit you that they hire a PR firm to make them look good?
It's common knowledge thet a large portion of tax money gets wasted on stupid things and that the more they get from you the more they'll be able to waste. If a politician manages to get another 1% from you, he'll be able to give it away to his voters and buy their support, so that he can stay in his chair for another term. I've seen it done so many times because for 1 average rich person there's always 3 people on benefits. If you take away from that 1 person and give it to those 3 you'll statistically gain 2 votes. Socialism is still alive and doing well.

The amount of taxation may increase, but the government introduces this only to stabilize the economy. I do not advise you to make various transactions during a pandemic. Wait, the market situation should stabilize.

I accept as true with you that the govt will increase the quantity of taxes but only after the market stabilizes. nobody is going to be ready to pay during the epidemic. But if we save BTC then the govt won't need to pay any tax from here it's not under the control of the govt we will buy and sell coins as we wish.

You cannot say to just stop transacting when this is your way of living,if
 you are investor or businessman when the daily routine
 is trading or transacting then what can we do?our world will continue even
the pandemic effect will last long so maybe what we can
 do is lower our expenses and tighten our belts so we can survive in this
 situation since i believe that this will last for
 more than a year or 2.

It is not correct to increase taxes in order to stabilize the economy.
This is going to decrease the consuming power of citizens and it might bring more economic downturn eventually.
Governments need to announce ways of investing money to the real economy in order to push the GDP higher.

I agree with you that the government will not increase taxes, because in these conditions, businesses and people are experiencing difficulties in making a profit. Therefore, the only possibility that will allow the government to level the budget is the release of new money into circulation. But this will lead the economy to inflation.

Governments all around the world have run deficits for decades and they do not really care at all about raising taxes because that is really unpopular, what they are doing is just printing money because it is an invisible tax that even if it is eventually felt by everyone it is nowhere near as unpopular as raising taxes outright, also it is way more likely that governments are more worried about trying to get the economy back on track and to keep it growing and new and higher taxes will be detrimental for the economy.

Though Bitcoins are not regulated in the Philippines there are these applications that we use to transfer and use bitcoins efficiently which has fees. But seldomly some movements are free from taxes. Still lot of areas here does not know about bitcoins. Anonymously, no one knows who uses them.
Our country is an archipelaho which is know for its thousand island, maybe somehow it affects its promotion.
I do emphatise with those who have taxes regarding cryptos.

The government's fiscal policy aims to save demand. But it is less effective considering its orientation is not in the industrial or business sector and labor which is the main source of demand.

A decrease in state revenue due to a decrease in tax revenue accompanied by an increase in spending and it is not impossible for an increase in financing to cause a budget deficit. But on the other hand, the government is required to guarantee a social safety net. But keep in mind that a deficit below 3% is a major factor in economic safety. Too extreme opening the public budget tap the impact is very terrible.

But stimulus policies have many limitations to overcome exogenous shocks. The stimulus is oriented towards accounting balance. The industrial tax stimulus borne by the government is only tax expenditure in lieu of tax revenue. Although it helps what is needed by the industrial sector is saving demand from the macroeconomic side.

The stimulus orientation is small and medium enterprises affected by corona, but the distribution of these stimuli requires collateral with a credit mechanism. The financial deepening will not be achieved in this condition. In addition, the stimulus is oriented towards increasing import and export trade, even though other countries are still closing their imports or exports. Whereas the industrially oriented stimulus needed to avoid mass layoffs

When the government regulate, it is not only limited to bitcoin but the general market which is the crypto.

here (https://news.bitcoin.com/48-cryptocurrency-exchanges-philippines/) we can see that 48 crypto exchanges approved in the Philippines, that pretty much explain that it's legal in your country.

Taxes are not really a bad thing normally, it is the humanity and culture we live in. In many countries the culture is that taxes do not really go into your pocket back right away and there are cuts in between due to corruption and I don't know how it became something we as a whole world decided is fine. Do you really think that every single cent you pay go back into helping you out back?

I mean I know you know there are a lot of times the money you pay as taxes goes into stuff that hurts you like bribes and corruption and so forth that helps out certain people and not the country as a whole. If we could stop that, find a way that corruption stops and all taxes goes to helping people, I am 100% sure you would be fine with taxes and would be even more willing to pay it.

The bitcoin dealings should be reported in Schedule which is an attachment of form it. Depending upon the type of dealing which decides the type of income from cryptocurrency ordinary income or capital gain the income should be reported under the correct head in the appropriate columns of the form. If you aren't withdrawing, selling, or trading any funds, then there is no need to declare your cryptocurrency as part of your tax return.

If the government raises taxes, it will simply destroy the economy. The business has suffered very large losses as a result of the quarantine and it will take a long time to recover to the level it was previously. The government's task in such circumstances is to help business, not finish it off.

As I haven't paid any income tax since 1997
You are 22-23 years old and you are unemployed, am I understand correctly?
For example:
- everyone in the country is getting sick
- the country begins to have problems with financing the health system
- the gov starts having problems with assistance to victims
- the gov of the country begins to have problems with money because the gov uses money to cure everyone
If you didn't pay taxes, you probably don't know where they come from. People pay taxes to the state so that the state can function on these taxes, provide people with goods and everything in this spirit.
If the money runs out and they are needed - gov will print (the printer makes brrrrr) more money to help their own citizens.
Citizens who feel the support of the state understand that all this is done on their taxes (they did not pay them for nothing) and they are at least a little but still morally ready for the fact that now the crisis will begin (has already begun) and they will have to tighten their belts.

We print money after which we recover and start to get out of the crisis (very rough chain but you understand me). If we decide to raise taxes - then we start with the strongest and put on the shoulders of our giants some obligations to help us (in the future it will pay off) and so to the very bottom and it is not a fact that we will get to the bottom.
It takes some time for us to get out of the crisis and then reduce taxes by the previous amount or even less because the time after the crisis is a time of rapid recovery and development.
Question - what is wrong here and why do you not pay taxes at the age of 22-23? If you do not pay then you do not have a moral right to any public goods that everyone else has a right to.
/thread

Baseless assumption. Do you always label people like that?

You don't work as a mechanic so you don't know where cars come from.
You don't have a cow so you can't possibly know how milk is made.


That's what they want you to believe.

I'm sorry I made a wrong statement here and I want to rephrase. I meant that if a person does not pay taxes , then he does not have any moral right to talk about where taxes go/what they are made of/etc. You do not pay taxes-OK.  But then do not tell everyone around that taxes are very bad and that we all need to stop paying them abruptly and go to the gray/black areas.

I just want to remind you that many of the things that we are now using were created initially in research centers/institutes/on the basis of universities - and all these things were conceived specifically for military, intelligence and other "army" purposes. With whose money? With the state's money. Where did the money come from? From taxpayers. Consider that taxes are a kind of hub for financing the necessary (not always but necessary) things.
Just remember where the Internet came from and why we are communicating here now.

Another problem that people have with taxes is that the majority of that money goes to make the government bigger and more intrusive and not to fixing the problems of the country, in my country the government is huge and ask a lot of money from the taxpayers and a significant amount of that money goes to pay the employees of the government, when I am sure that the government could function with only 10% of that personal and no one will notice a decrease on the quality of the services offered.

despite that, I think next year will be the year of suffering if people will not be conditioned to live with it as the economy continue to suffer in different parts of the world tax will not be the only issue we have to expect more.

Financial crises inevitably lead to higher taxes. The economy of a state is a fairly complex system and everything in it is interdependent. You need to become more economical in this difficult time and try to increase your income. And remember, what you economized, you actually earned it. 

This I have to agree with, although I have long accepted that I cannot decide where the taxes go and how they are spendt so it's fine.

Are you trying to say that taxes are the only way of financing research?
What about donations, fundraising and all that stuff?

Does that mean state-owned research facilities are the only ones in existence?
What about private institutes, private universities.

The government has money from many sources not only from taxation. Many countries make most of their money from trading natural resources and tourism.

They can raise taxes but it should be properly evaluated, and it should be a justified rate that people in the middle and especially in the lower classes can still live a quality life, that's their job, people have already suffered due to the increasing unemployment rate, they don't want to add more burden to the people.

No, I just want to say that being a group of researchers from a NASA has a lot of state money. They will never collect them via fundraising. That’s why government researchers are richer than a group of independent young scientists. The fact is that research is not always successful the first time and the most "terrible" state forgives mistakes when private investors can just put you in jail for the fact that their money did not pay off.
But very few countries from the "first world" or "developing" can live only on tourist and resource income. You can't just pump oil and Venezuela has shown us this. Taxes on ordinary people and companies make up the big share of budget revenues.

I just want to say that any statement similar to the beginning of this thread is the statement of either a not very smart person or a very young (and also not smart) person. The economic life of the state is much more complicated than people often think. And then these people are crying that the state does not give them anything and blames gov for all the troubles.

Don't imagine, you have no imagination.
I paid income tax in 1997 and the years prior.
I'm proud to say I'm financially independent, without any need for public help. The world would be a better place if everybody was like me.

I think they must focus in Online businesses that can barely received taxation because they are the one who's getting more profit now while saving from taxes just like now me and my family are ordering too many foods and items over online seller but they are not regulated by the laws.

I know that this must be implemented for the reason that government needs income now but this must be according to the deserving businesses .

or better evaluate all the establishments and give necessary increase depend on their profiteering now.

Put taxes to:

- Canned Goods since they are in demand now but for manufacturer only and don't put in consumer as they can at least give a little favor to the much needed

and other businesses near this example.

-

Increasing taxes after the crisis could be best option for government to recover expenses and bring back economy to life, because most ongoing projects are postponed and funds are focused on combatting the Pandemic. We should be prepare for it, otherwise prepare for worst economic depression.

I know right? In our country, the government are planning to tax Netflix and other streaming services. Just imagine putting tax on YouTube and Facebook which is literally free to use, I do understand the problem but one of the things people go to this quarantine would be taxed, I think that is a bit too much.

They will be careful with doing this, if the economy is destroyed, the government will be destroyed as well.
raising taxes could be the solution to increase the revenue of the government, but it has to be carefully plan that it's not gonna be a burden for the people.


True, but taxes or increasing taxes is not for finishing the business, we have to remember that no tax are paid if there is not business.

I don't think that they'll increase the taxes beyond a certain limit. They can't, as the people will get angry. What they'll do is, they will print banknotes without any control. This will cause the devaluation of the national currency and increase the inflation rate. And naturally, ordinary people will flock to invest in stable assets, such as bullion and probably cryptocurrencies such as Bitcoin.

I think government will not implement tax increase next year or after 2 years just to help the economic problem,instead they will focus on how to recover the economy through agriculture,industrial and tourism. Maybe it is not easy but i believe government will do everything for economic growth without giving difficulties to the citizens throgh implementing higher taxes.

I believe that taxes can help the government reduce a countrys financial burden, especially for developing countries. But this increase must be a reasonable percentage so it does not invite other polemics.

I do not know what is best for the government to implement to restore economic conditions. Taxes, oil and electricity prices are the most accessible choices and they will also make adjustments to other sectors such as agriculture, industry and tourism.

Generally I agree with you. After the crisis it's completely possible to see governments trying to increase tax value. Or even try to reimbursement of budget deficit by taking money from rich people with other possible ways. We all the the crisis damaged the economy systems but in my own idea they should try find other ways than taking more money from people.

Even when the crude oil prices touched the bottom my country increased taxes on the petroleum products, noticed minor increase on the taxes for tobacco and liquor products as well so the process has been already started when people are crying out for foods.Well play by the governments. >:(

The government could easily increase on products like tobacco and liquor but not on the basic needs.
In our country, when the tax was significantly increase on liquor, cigarettes, and beverages, people just feel it temporarily and still they are buying.

But if its the basic needs that will increase due to taxes, their, we might see some chaos because at the situation now where a lot of company closes and leads to unemployment, it's not possible to happen.

In our country the government already have a bill regarding on additional taxes on tabacco and cigarettes this was called sin tax law which cause the price of the said product became more expensive and this is good initiative since it could make people away from their vices.

But hopefully they will not look on adding more tax on basic need since as you said we might gonna go on worse case scenario since many people will struggle on their daily life, the current price right now is so expensive and how much more if they think about adding a additional tax with it.

We didnt see this pandemic coming, its not the people's fault if the government is spending their budget to sustain the needs of everyone during this time. If the virus is over thats the time for us to start a new beginning, raising the tax will not help us to recover from this so the government should not give an additional burden to the people. It takes time before we can adjust due to bills payment waiving after us. Hence instead of thinking how to raise the tax to goods or for ordinary employees, they should give a work to those who lose their job because of the virus.

If government think this isn't a basic need and really do more harm to their citizen they should ban it but what they are trying to do is to make more money by making the people to get addicted to it and when it comes to petrol price increases it means it will get effected in every consumer product because it will increase the transportation cost a bit more to the production companies.

Unfortunately, it is impossible to completely not pay taxes. You can not pay tax on real estate, car, work on informal work. But the price of products already has a tax, so alas, you still pay it. Yes, the economies of many countries will not be able to withstand such a load, and there is still no confidence in the future. In addition to raising taxes, of course.

I was only talking about income tax!
I pay tax each I'm buying gas, I'm paying property tax on my houses, I'm paying VAT on nearly everything...

Yes, it is right, most of the government have to face a deficit budget because govt. income has decreased but expenditure has increased largely for huge amount of budget for medical sector, different incentives, subsidy and tax holiday for economy etc. But the question is how the government will arrange this deficit. You are partially correct that there may be a pressure of the taxes but only tax is not the only source of income of the government. There have export/import income, VAT, tariff, different charges and fees, state owned business etc. You know countries have already started to break the locked down and coming back to the previous position. So, I think, all other govt income will increase and economy will recover its own position soon. Besides, for providing sufficient fund to the market govt is trying to give loan in lower rate, giving help to the general public, providing different incentives etc. so that the people can retain their purchasing power. In such case, there has less possibility to impose a larger tax for people.

Actually, in my countries businesses and firns are asking to reduce taxes and other payments to the government because they are heavily hit by consequences of pandemic and they suffer losses.
Of course, because of pandemic governments will also have huge problems with their budgets and to increase the taxes might be one of solutions although not very popular.
However, I don't expect significant increas of taxes, if at all, but to keep some extra Bitcoins in.your wallet for rainy days is always good idea.

You are definitely right, once this pandemic is over, government will find ways to tax their people, this is to regain the funds they've lost, they have two options, tax their people or loan again, those countries with already weak economy before this pandemic will likely the one to suffer more, and likely to tax their people more
.

income tax will continue to appear at any time (maybe only a reduction in liability if the outbreak gets worse)..  types of businesses that are not affected can still help the country with their business tax contributions, I have noticed that there are also many businesses that are not affected by this "PANDEMIC" COVID-19 such as Logistics, Groceries, online business and others..

there is one thing that makes me nervous right now, the government in my country is more focused on helping state-owned businesses (not private businesses), if seen from reality, private businesses help the state more than state-owned businesses.  I am afraid that the engine driving the country's economy cannot generate more taxes if the government of my country only focuses on helping state businesses that do not produce big results..

Turkish Republic's economy collapsed completely due to the pandemic, and this has led to much more aggressive taxation policy. Before this economic crisis, we paid only two percent of the revenue we received from cryptocurrencies as taxes, but after the economic crisis, the cryptocurrencies that some big companies bought were seized by the government. Hayrettin Kurt, head of the Financial Crimes Investigation Board (MASAK) told that they'd seized $15 million worth of Bitcoin [1] (https://beincrypto.com.tr/masak-baskani-100-milyon-turk-lirasi-degerindeki-kripto-paraya-bloke-koyduk/). Unfortunately, states probably will demand more taxes for cryptocurrencies as soon as their economic situation worsens.

The idea of giving a loan to the people is going to be the way to go for the government to restart the economy after the end of this pandemic. But the banks would have to lower the interest rates for getting the attention of more and more people who are willing to take loan, otherwise increased taxation would be the only option left with the government to make up for the lost money in this COVID crisis.