|
WhaleSlayer
|
 |
December 16, 2017, 06:34:02 PM |
|
As much as I don't want to because I fear that because of bitcoin's high value the value of tax will be high as well, however, when the government decides for it to be taxable then I guess we all have no choice but to follow this new rule when it comes to having bitcoin. I just hope that this will be for the better.
Don't worry about paying taxes on your profits from Bitcoin. There are thousands of legal loopholes, using which you can escape from paying tax. For example, if your stash is worth a few millions of USD, you can purchase the citizenship of Dominica (for a price tag of $100,000). You can sell your coins in Dominica (without paying any tax) and then come back to your hometown with the fiat cash. ? But still you would have to appear back in your country with a lot of money - would they not try to tax you then? |
|
|
|
|
|
|
|
|
|
|
|
|
|
Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
Sutters Mill
|
|
December 16, 2017, 06:39:14 PM |
|
Governments will always find a way for you to pay taxes. The blockchain is such a disruptive technology that they can't regulate. Therefore they will want taxes wherever they can get.
How can they not regulate it? It's a giant public ledger so they can easily see what's going on. Cash is much harder to tax because it doesn't have a a history of every transaction made cash in hand. Why should we pay taxes on our profits from BTC? The government will never compensate us if we ever face any losses in crypto-trading.
The government isn't there to compensate you on whatever you gamble on. People pay taxes to contribute to society and the country they live in. IF you don't like it I suggest you move to a country that has no taxes or very little of them. However, don't be surprised when your government starts looking into everyone who trades bitcoin and when they IRS comes knocking at your door you'll probably regret your attitude. |
|
|
|
|
Santos Kalaharry
Member
 Offline
Activity: 62
Merit: 10
|
|
December 16, 2017, 06:59:02 PM |
|
No, of course not. Big fat cats will be fine without my money  . |
|
|
|
|
|
joromz1226
|
|
December 16, 2017, 10:08:59 PM |
|
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
If this is under buy the government of course I pay my taxes. But if this is not cover by the government I'm not paying any taxes, which means in bitcoin transactions there is no tax deduction due to its decentralization. |
|
|
|
|
CryptoBeesKnees
Newbie
Offline
Activity: 20
Merit: 0
|
|
December 16, 2017, 11:37:39 PM |
|
Absolutely
|
|
|
|
|
Crown1
Member
Offline
Activity: 210
Merit: 10
|
|
December 17, 2017, 02:21:27 AM |
|
My country doesn't have a tax on bitcoin right now. Has the us started taxing bitcoin?  |
|
|
|
ave_sema
Newbie
Offline
Activity: 24
Merit: 0
|
|
December 17, 2017, 02:33:18 AM |
|
No, I don't want to pay them. Just for legal business, not for bitcoin xD
|
|
|
|
|
Stegobit
Jr. Member
Offline
Activity: 154
Merit: 1
|
|
December 17, 2017, 04:02:43 AM |
|
In the US - never! I would better donate all my money to a hobo than paying for prisons and wars!
|
|
|
|
|
Stegobit
Jr. Member
Offline
Activity: 154
Merit: 1
|
|
December 17, 2017, 04:08:54 AM |
|
IF you don't like it I suggest you move to a country that has no taxes or very little of them.
Never suggest this poisonous idea! I personally know how large devastating effect for the economy and society emigration does create. Even if next govt will accept previous errors and fix laws, you cannot easily return the people. Population will suffer for centuries. |
|
|
|
|
Sithara007
Legendary
Offline
Activity: 3192
Merit: 1344
Leading Crypto Sports Betting & Casino Platform
|
|
December 17, 2017, 05:22:48 AM |
|
IF you don't like it I suggest you move to a country that has no taxes or very little of them.
Never suggest this poisonous idea! I personally know how large devastating effect for the economy and society emigration does create. Even if next govt will accept previous errors and fix laws, you cannot easily return the people. Population will suffer for centuries. Just mind your own business boy. Sutters Mill has the legal freedom to move to whichever country he want. If the economy suffers, that means that the government is incapable of governing the country. You can't take the right of travel away from anyone. If you want to keep high net worth individuals in your country, then ask the government to stop harassing them and reduce the tax rates. |
|
|
|
|
|
| ..Stake.com.. | | | ▄████████████████████████████████████▄
██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄
██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████
██ ██████████ ██ ██ ██████████ ██ ▀██▀
██ ██ ██ ██████ ██ ██ ██ ██ ██
██ ██████ ██ █████ ███ ██████ ██ ████▄ ██
██ █████ ███ ████ ████ █████ ███ ████████
██ ████ ████ ██████████ ████ ████ ████▀
██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
██ ▀▀▀▀▀▀▀▀▀▀ ██
▀█████████▀ ▄████████████▄ ▀█████████▀
▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄
██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█ ▄▀▄ █▀▀█▀▄▄
█ █▀█ █ ▐ ▐▌
█ ▄██▄ █ ▌ █
█ ▄██████▄ █ ▌ ▐▌
█ ██████████ █ ▐ █
█ ▐██████████▌ █ ▐ ▐▌
█ ▀▀██████▀▀ █ ▌ █
█ ▄▄▄██▄▄▄ █ ▌▐▌
█ █▐ █
█ █▐▐▌
█ █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀ ▐█▌ ▀█▄
██ ▐█▌ ██
████▄ ▄█████▄ ▄████
████████▄███████████▄████████
███▀ █████████████ ▀███
██ ███████████ ██
▀█▄ █████████ ▄█▀
▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀
▀███████ ███████▀
▀█████▄ ▄█████▀
▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake |
|
|
Douglasyukanov
Copper Member
Full Member
Offline
Activity: 346
Merit: 100
|
|
December 17, 2017, 05:32:59 AM |
|
it is possible, I will pay the tax, if the tax value specified is still proportional to what I produce in bitcoin or at least the tax value is affordable for me to pay.
certainly someday after all the state governments set a rule about bitcoin surely all income from bitcoin will also be taxed .
|
|
|
|
|
donaltrump8
Member
Offline
Activity: 142
Merit: 10
|
|
December 17, 2017, 06:12:21 AM |
|
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Yes , i am going to pay taxes on my bitcoin profits, if my country accept bitcoin . It's obvious but i think i have to send half of my profit to the goverment , it's too much , i don't accept that . |
|
|
|
|
msrandom90
Newbie
Offline
Activity: 274
Merit: 0
|
|
December 17, 2017, 08:34:21 AM |
|
I will if i have to but i will try to avoid it as much as i can.
|
|
|
|
|
syf1717
Jr. Member
Offline
Activity: 59
Merit: 10
|
|
December 17, 2017, 09:59:51 AM |
|
In our country, bit is a ban on trading, but when over the wall buys bitcoin, it doesn't have to pay taxes
|
|
|
|
|
Master Third
Newbie
Offline
Activity: 161
Merit: 0
|
|
December 17, 2017, 10:03:12 AM |
|
Of course I'm not. If I will do that I'm not sure that my tax will be in the right hand.Many are corrupt in the government so why should I give my money earn from not payable tax organization. If my purpose is to help I would rather give it to the charity sector. |
|
|
|
|
Olexandra66
Newbie
Offline
Activity: 16
Merit: 0
|
|
December 17, 2017, 10:06:26 AM |
|
I always paid taxes and continue to do it now. I believe, that paying taxes is one of the pledges of a dysfunctional and stable state economy. Roads, medicine, education, social payments and other? are all from our taxes. I believe, that this is the duty of every citizen of his country.  |
|
|
|
|
agirlbtw
Newbie
Offline
Activity: 32
Merit: 0
|
|
December 17, 2017, 11:45:40 AM |
|
I don't want to pay taxes for my Bitcoin's profits. It's really bullshit, i came to Bitcoin because they can't taxes on it.
|
|
|
|
|
shan05
Member
Offline
Activity: 154
Merit: 15
|
|
December 17, 2017, 12:06:33 PM |
|
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
If taxes for bitcoin and other altcoins is legalize in my country, then i would have to pay taxes for my income from bitcoin. But as of now, cryptocurrency is not yet covered by Philipine law. So if i have that large amount of money, i will not give it to the government as tax. My income from bitcoin is not within the scope of the law. |
|
|
|
|
RitaDiOro
|
|
December 17, 2017, 01:17:39 PM |
|
I will maybe agree to pay taxes only after crypto will be really regulated in my county, I won't do it before.
|
|
|
|
meliodas
Sr. Member
Offline
Activity: 742
Merit: 329
CryptoTalk.Org - Get Paid for every Post!
|
|
December 17, 2017, 01:30:57 PM |
|
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Whether we like it or not, it that's the rule and if it's part of the law, I think that we can't do nothing but to follow it. Actually, we are paying taxes everyday, from our food, daily things that we use, we are spending too much for our taxes thought we might not notice is. That's how our government works, they will ask for taxes as soon as they find ways. |
|
|
|
|
