Beware Bitcoin Users! Is Bitcoin Taxation inevitable?

[ashour]

If there are monetary gains then there'll be tax. You'd really need a closed loop crypto economy to be confident of avoiding tax because things'll light up as soon as you go full fiat.

Most people probably could get away with tax evasion with the present system. Most pay it simply for a quiet life.

In most countries you don't get a tax refund and that's why there are many people from these countries dodging taxes and try to hide incomes.

[Hazir]

If your country doesn't have regulations regarding bitcoin and it would be for small amounts of bitcoin I wouldn't declare them. Even if they knew I had bitcoin and I would refuse to to pay taxes for them how would they get my bitcoin ? Call the blockchain and order it to clear my account  ? They would have to beat me until I gave them access to the bitcoins.

No, authorities won't beat you up, they have other measures ready to use against you. They will just prosecute you, accuse you of hiding your income, causing difficulties for government tax agency, stealing and other nice things. And I guarantee you won't win in court against them. You will be declared guilty and they just confiscate your FIAT instead if they won't be able to access your bitcoins.

[jjacob]

Bitcoin has always been taxable.
It just has been tougher to enforce compliance.
As time goes by, action taken by authorities and thereby compliance will increase.

[Amph]

Bitcoin has always been taxable.
It just has been tougher to enforce compliance.
As time goes by, action taken by authorities and thereby compliance will increase.

this is not true, before 2014, IRS and other didn't taxed it at all, you was free to evade with the gain from bitcoin, and even now it is only in a few states

if in your country btc is taxed then you can just deposit your fait(conveted from btc) in a country where it isn't