Are you going to pay taxes?

[dammang]

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,that is our obligation,for a better  success of all project of our government we need to pay taxes..

[Prem.Soorajpaul]

I think most the country is asking to pay tax on the bitcoin income. To avoid any unnecessary trouble from the govt. law about tax thief, we should pay reasonable amount of the tax for that year and enjoy their peaceful life with remain amount.

[Wayan_Pedjeng]

I have always paid my taxes honestly. I have to say that here in Indonesia, the tax rates are also quite reasonable when compared to the other nations. I am earning around $1,500 per month, and I pay around 12% of that as taxes.

[coolcoinz]

I have always paid my taxes honestly. I have to say that here in Indonesia, the tax rates are also quite reasonable when compared to the other nations. I am earning around $1,500 per month, and I pay around 12% of that as taxes.

I wish it was like that in other countries. In some parts of the world when you sum up all the taxes together you find out that they're taking over half of your money. It's insane. People have been turned into slaves for the common good. I would support just taxes of 10%, but anything above this is a robbery IMO and I'm not going to give up half of my money to pay some corrupt politician's wage.

[gabmen]

I have always paid my taxes honestly. I have to say that here in Indonesia, the tax rates are also quite reasonable when compared to the other nations. I am earning around $1,500 per month, and I pay around 12% of that as taxes.

I wish it was like that in other countries. In some parts of the world when you sum up all the taxes together you find out that they're taking over half of your money. It's insane. People have been turned into slaves for the common good. I would support just taxes of 10%, but anything above this is a robbery IMO and I'm not going to give up half of my money to pay some corrupt politician's wage.

The sad part is that its your obligation to pay these taxes even though it doesn't go to where it should and put to good use. If you have a regular job then you basically have no choice since these taxes are automatically deducted from your salary

[Anco_Marzio]

Well, actually I'd try to pay the less possible, but respecting the law.
May be you believe to be safe, but in some years someone from government will find you.

[joebrook]

I think most the country is asking to pay tax on the bitcoin income. To avoid any unnecessary trouble from the govt. law about tax thief, we should pay reasonable amount of the tax for that year and enjoy their peaceful life with remain amount.

If it was my wish and wish alone, I wouldn't pay a dime to the government but if i don't pay i will be hurled off to prison and that's not something am willing to experience ever in my life at all.

[Stegobit]

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.

You don't correctly understand me. I never suggested to limit right to emigrate. I mean it's very stupid and irrational for the government to provoke emigration from the country.

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.

The sad part is that its your obligation to pay these taxes even though it doesn't go to where it should and put to good use. If you have a regular job then you basically have no choice since these taxes are automatically deducted from your salary

Stop treating govt as the God! If some impostor captures the power and robs population through taxes, it's not your right, but an obligation to pay zero taxes to him.
Or maybe you think >70% tax from your low-to-middle income is reasonable and just?!  I count total taxes most people pay: income tax + social security (your and employer's) + VAT + real estate tax + excise on alcohol and gasoline + inflation tax + toll road and parking charges + customs duties etc. For high-earning people real total taxes can be >90%.

If it was my wish and wish alone, I wouldn't pay a dime to the government but if i don't pay i will be hurled off to prison and that's not something am willing to experience ever in my life at all.

You must not tolerate this and urge other people to stop being robbed! If many people won't pay taxes and use Bitcoin (to evade inflation tax), govt won't have enough money to maintain prisons!

[PinkCrypto]

Unfortunately, I will have to. I would not, if I could, but it's just not worth the hustle.

[Stegobit]

Unfortunately, I will have to. I would not, if I could, but it's just not worth the hustle.

If you mean taxes from Bitcoin, you can get fiat through P2P sellers on Localbitcoins without showing up your income to the govt.

[Angna27]

Yes, if this is a Law, i will follow the government law,, even if they high,, the more your income the more your tax, the lesser your income the lesser your tax simple. And also to clear our mind for legally the bitcoin in our country.

[dogz12]

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.

Taxes are imposed, if not all, in almost all the commodities in our country. From real estate to electricity and down to bottled water that we buy. So there is no reason for me to handle a percentage of my earnings to our government from bitcoin.

[Shaman624]

Unfortunately, you will have to pay the tax. In my country, it will not work out differently

[Stegobit]

Yes, if this is a Law, i will follow the government law,, even if they high,,

What absurd slavery logic?!! If the govt will ask you to die and donate your kidneys and liver, will you agree?

[Andrianla]

I personally never pay taxes based on my income in Bticoin because the government does not ask based on Bitcoin earnings, I pay the requested in accordance with the applicable regulations only.

[coolcoinz]

You must not tolerate this and urge other people to stop being robbed! If many people won't pay taxes and use Bitcoin (to evade inflation tax), govt won't have enough money to maintain prisons!

It's even better than that. The prison system works because people in general want to avoid it and are easy to scare. When 100 people protest against taxes you can beat half of them into submission and throw the other half in jail. Things start to change when it's 1000 people as you can't just put that many people in jail. Most jails are already overcrowded and are forced to release the smallest offenders early. We can change things if we want to but we need to work together on this.

[psibenik]

Yes, I will, but I probably won't be able to report everything the tax agency would like. Not enough data to report everything correctly. Totally impractical to report crypto the same way you would a stock.

[snkneo]

I think it's best to, us much as it hurts. And you kind of have no choice since Coinbase now has to give that information to the IRS.

[snkneo]

No I'm not.

Here in Switzerland there are no taxes on capital gains.  

If I ever make it big in this game, I will find me a super hot Swiz girl and move over there. Get away from all the potential leeches that I have met throughout my life.

[yrrehc16]

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 bitcoin conquer every country of the world and that wiill be the time that government will step in to control some profit on bitcoin because ofthe impact of bitcoin made to the profit of other investment on fiat are gone, the chance eof having tax on bitcoin will come sooner or later and YES i amm will to pay for tax.