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Author Topic: Do Bitcoins have Tax??  (Read 39752 times)
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April 13, 2016, 06:55:16 AM
 #121

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.
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April 13, 2016, 08:30:40 AM
 #122

I am not a legal expert in any way but I guess online retailers that are accepting Bitcoin payments must include their profits in the annual tax report as it's revenue generated by them. As for the regular user I don't think it's compulsory to include your Bitcoin stash in your tax report. All Bitcoin enthusiasts are so eager to keep their money secret haha  Cheesy

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April 13, 2016, 09:19:02 AM
 #123

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.
bitcoin is anonymous people will not know that address have 1000 BTC has had who? so impossible to provide tax against it.
satoshi Nakamoto has many bitcoin I'm sure of it. but no one knows the number amount of bitcoin he has. if he was told to pay a tax of bitcoinnya. of course it will be very expensive


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April 13, 2016, 05:04:04 PM
 #124

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.
yes its true,bitcoin never have tax,and i think this is why people love bitcoin,rich people will glad to have bitcoin because its not have tax,but in future i think bitcoin will have tax soon,its prevent people to create money laundering from bitcoin.

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April 13, 2016, 05:38:39 PM
 #125

Yes ,definitely ,but it dependsnalso in what country because like on my country the bitcoins withdrawals .cash in also have a tax on it.. So better when doing small transaction it is better to do a big one to not loose big amounts on tax or fees.


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April 15, 2016, 05:05:02 AM
 #126

Depends on what country you're living in. You'd have to check if you need to.
Where I'm from when you're into bitcoin you have to report that you are and how much you've made, depending on how much profit you got, you'd have to pay taxes over that.
I thought taxes the guy meant that were fees, but I was wrong. and I thought bitcoin has not taxes, but it has.
well I think it means that bitcoin is legal already in your country if you have to pay taxes.

In my country we don't need to pay taxes of bitcoin.
That's why the government will never allow bitcoin exists and is developing in their country. and prohibit/illegal the use of bitcoin. because the government can not give taxes to bitcoin because bitcoin is very secret and very anonymous identity and allows a lot of the corruptors flexibility to use bitcoin for illegal activity



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April 15, 2016, 05:10:43 AM
 #127

No currency in the world has tax only the goverment has it



fact:  In some countrys bitcoin are not accepted as a currency.

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April 15, 2016, 05:16:01 AM
 #128

No currency in the world has tax only the goverment has it

fact:  In some countrys bitcoin are not accepted as a currency.

that is true, but in the past that didn't stop the government and IRS from prosecuting people who did a business online and was accepting bitcoin as payment, because they didn't pay taxes for their business.

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April 15, 2016, 09:28:25 AM
 #129

Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??

Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
and now i'm also know about that,something hav ruin my mind before i dont know about bitcoin tax,and i'm sastified that btcoin have no tax,and i'm sure transactions tax not bigger as bitcoin tax if it available.

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April 15, 2016, 10:49:17 AM
 #130

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.
yes its true,bitcoin never have tax,and i think this is why people love bitcoin,rich people will glad to have bitcoin because its not have tax,but in future i think bitcoin will have tax soon,its prevent people to create money laundering from bitcoin.
as long the government won't get bother with this one, but when you paying stuff on any merchant,they'll do deduct your balance for tax or even added the tax to your bills, so ,the conclusion bitcoin already taxed

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April 15, 2016, 01:45:32 PM
 #131

Since tax is organised by goverment so it depends on every country.
Bitcoin can be considered as digital currency, so I'm sure there is country that have rules about it.
I think it does not make sense. Okay when we address the government's discretion. but what if we have another address? the government certainly would not know about it. and we can be free from tax? very easy to hide it
give taxes to bitcoin is something that is difficult and impossible





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ATguy
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April 15, 2016, 02:01:08 PM
 #132

No currency in the world has tax only the goverment has it

Your really taxed based on your country of residence rules and it really doesnt matter if you pay with cash or Bitcoin. Thought there is sometimes tax on bank deposits, which cannot apply to Bitcoin (but you can be taxed based on your wealth which includes your Bitcoin holdings)

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April 15, 2016, 02:09:10 PM
 #133

I can't say if it will or not. But it is same as if you were receiving money in paypal. If it is over a certain amount of that is contributing to your overall income, then you would need to claim it at the end of the tax year. But it depends on the country that you reside in. Some people get away with not paying taxes on anything under $1200 of unclaimed income in some parts of the world.

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greghansel89
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April 15, 2016, 02:10:29 PM
 #134

I think bitcoin have no tax since started . but I don't know if the owner of bitcoin will pay taxes
Bitcoin is a legit and safe cryptocurrency.
yes its true,bitcoin never have tax,and i think this is why people love bitcoin,rich people will glad to have bitcoin because its not have tax,but in future i think bitcoin will have tax soon,its prevent people to create money laundering from bitcoin.

I dont think that they can impose tax on bitcoin users they only way they can give tax are for the merchants who wants to sell their goods online which will need shipment to be deliver.
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April 15, 2016, 03:16:13 PM
 #135

Why are people still unclear about this? In the U.S. (and most everywhere else) taxes are required when you make any money. There is no question about it.

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April 15, 2016, 03:32:55 PM
 #136

Why are people still unclear about this? In the U.S. (and most everywhere else) taxes are required when you make any money. There is no question about it.
Unless you put your money from bitcoin in off shore accounts like so many of those government officials named in the panama papers did. Putin says he is proud of what he did in the hiding of his assets.

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April 15, 2016, 05:48:39 PM
 #137

Why are people still unclear about this? In the U.S. (and most everywhere else) taxes are required when you make any money. There is no question about it.
Unless you put your money from bitcoin in off shore accounts like so many of those government officials named in the panama papers did. Putin says he is proud of what he did in the hiding of his assets.
True that. If you are a billionaire then you probably know all about how to cheat on your taxes.  Undecided

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April 15, 2016, 06:22:55 PM
 #138

bitcoin doesn't have tax but Transaction does have minimal fee and it is paid to miners.


 
 
 
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April 15, 2016, 07:57:26 PM
 #139

Since tax is organised by goverment so it depends on every country.
Bitcoin can be considered as digital currency, so I'm sure there is country that have rules about it.

I think yes, it should have the same rules as for other currencies etc, but I did not saw any rule created for it by any state or any government,

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April 15, 2016, 10:37:42 PM
 #140

Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??

Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
The tax goes to the miners, and the miners are the people who confirm your transactions so they go through.

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