Could Argentines crash Bitcoin at the end of December because of a new tax?

[SHAWN-MIDWAYS]

This is far from happening and i do not think Argentines are as tech savvy as the likes of china a country we thought could crash the bitcoin market with the number of crypto supporters it has but never did.

Their tax system is going to affect crypto users there but how will they get everybody using bitcoin....their just trying to cause panic nothing else.

[Omega Weapon]

Does anyone honestly believe any South American country collects a fraction of the taxes it's actually owed? No one's going to pay this. Even in supposedly fully functioning economies like Italy tax evasion is the national sport.

Everyone from shaky economies is fully versed in hiding their money from the government. Crypto makes it a ton easier.

True, governments in third world countries do not have the strength to prosecute the real criminals like killers and kidnappers, so they can claim to be owed whatever amount of money they want that does not mean they are going to get it, so at the end this is another law that is not going to have an effect at all on bitcoin holders besides I do not think we are that far away to see the emergence of bitcoin tax havens.

[Beerwizzard]

First of all this tax should be compared to the other Australian taxes. Maybe it is the least expensive way to pay taxes there. The other thing is that how they gona controll the profits from cryptocurrencies: they won't track the crypto nature of the money untill it came from the exchange. Also I'm very curious how they gona figure out the basis for the tax. Like If I bought bitcoin for 17k and sold it for 18k it is fine to get charged from the profit of 1k but not from the whole amount of sold BTC.

[STT]

In Argentina, a new tax is about to be approved that will charge profits for holding cryptocurrencies with 15% per year. (Source) This tax applies for everybody that made profits of more than approximately 3.500 USD per year, so everybody that held more than 0,25 BTC in 2017 would be affected.

This tax will be possible to be charged retroactively, but it will come into effect on January 1, 2018. So everybody that sells before that date, will not have to pay the tax for profits that have accumulated until that day.

Even if you don't believe it: Argentines are a significant Bitcoin holder group. A history of restrictive exchange regulations (the last "restrictive" phase lasting from 2011 to 2014/2015) made many people aware of cryptocurrencies. And at least one of the historical Core contributors is an Argentine.

So it's a pretty likely scenario that Argentine holders could move the price a bit. But maybe it's nothing to worry about: They could re-buy at January 1, so they get only charged for profits after that date.

Sounds more like a case for redistribution then a fall exactly.  In Argentina Bitcoin is a victim of its own success ?    The government produces a tax on its people by inflation, producing money centrally and running a budget deficit.     This is all grossly unfair, centralised money is depriving the many to serve the few who are close to government and derive political advantages.

No doubt that government is also against gold and any asset that might be used to hold or exchange value without going through a central system which 'leaks' money onto those in power.

No I dont think its a sell off because BTC is global and this is not a one off, many countries have this problem even US Dollar.    It seems another measure to try and make money illegal.

[mafostedu]

15% just for taxes? It is nothing compared to the huge marging of taxes that people from the united states have to pay.. came on people, it is nothing.
Just see how much money do people from the US & the UK have to pay in order to withdraw their earnings..
15% is dust compared to those.

[BlueYozakuraBTC]

It seems like maybe selling and buying back after the year comes in may be a wise decision for Argentinians. Still this really blows.