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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
aubert
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April 16, 2016, 01:00:39 AM
 #141

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,
Doesn't need to make any rules about tax because every of your transaction have been already taxed,it's added on your bills even you're using bitcoin,but only for transaction with verified company

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April 16, 2016, 06:13:20 AM
 #142

There is no tax on Bitcoin in my country at the moment. I don't declare my Bitcoins as profit because of that and by the way I don't even know how to write them in the annual tax form haha. I guess trying to explain to the folks over there what Bitcoin is and how it's digital money would be kinda hard. And the government doesn't need to know I am holding Bitcoins it's not a crime yet right.

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April 16, 2016, 06:37:19 AM
 #143

I think it's no tax on bitcon and there is only fee for each transaction. but if Government start accepted bitcoin, i'm sure government will take Tax for bitcoin.
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April 16, 2016, 07:41:02 AM
 #144

I think it's no tax on bitcon and there is only fee for each transaction. but if Government start accepted bitcoin, i'm sure government will take Tax for bitcoin.

Exchanges has taxes, so if you are using one, then probably you are paying taxes, I just don't know about blockchain, if they are recognized by the state where they are situated and paying taxes..

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April 17, 2016, 02:18:42 PM
 #145

tax? is transaction fee a tax?
otherwise I'm sorry. but to me it looks like a tax.  Grin
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April 17, 2016, 02:31:53 PM
 #146

I think it's no tax on bitcon and there is only fee for each transaction. but if Government start accepted bitcoin, i'm sure government will take Tax for bitcoin.

Obviously, if your in big debts your still looking for new ways to milk your citizens. Im not sure how could they tax Bitcoin specifically, but eventually if cryptocurrecies become much more popular I expect Governments starting trying to tax Bitcoin holdings or Bitcoin transactions.

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April 17, 2016, 04:06:45 PM
 #147

It depends by country. In my country the governement taxes income. So at the end of the year i have to declare my bitcoin income.
Products etc. are not taxed btw.
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April 17, 2016, 04:54:05 PM
 #148

it depends on your country but in wallets ofcourse they have tax like 20k satoshi or if your buying some goods like foods and i think for me theres no tax on bitcoin

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lipshack15
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April 17, 2016, 05:12:46 PM
 #149

i think bitcoin has no tax and bitcoin is free for all tax is for transfer or if you pay bills exhancge has taxes too but someday if our goverment accept bitcoin for sure it will be have tax soon
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May 27, 2016, 02:39:49 PM
 #150

I think that bitcoin doesnt have tax.In short each transaction is free of taxes.There are just taxes i think if you will pay bills online like electricity  bills and internet bills or when you cashout on banks,but thats just a small tax compare to physical money that taxes reaches about 5%-10% of your money.Bitcoin taxes just small amount.

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May 27, 2016, 03:09:17 PM
 #151

I believe bitcoin doesn't have tax. Tax free access is one of the major factor which has attracted lot users towards bitcoin. In some countries this has become a big problem for government.

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May 27, 2016, 03:44:46 PM
 #152

I believe some members here got into trouble with tax authorities over the sales of Bitcoins. And the laws differ from state to state?

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May 27, 2016, 05:17:13 PM
 #153

I think bitcoins have no taxes but it also depends on the government in which they already known and doing something to earn also on bitcoins . In my country there's only a fee on withdrawal and cash in of bitcoins.i think that is called tax? If i am not wrong.


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May 27, 2016, 05:52:05 PM
 #154

In our country, bitcoin earning is not taxed unless you convert it to fiat and declare it in your income. Otherwise, you can easily avoid tax. Of course, if you convert to fiat and buy something, you are already giving taxes to.the goverment thru vat. So I think it is okay. The government still gets something from bitcoin earnings.

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May 27, 2016, 05:57:42 PM
 #155

It depends by country. In my country the governement taxes income. So at the end of the year i have to declare my bitcoin income.
Products etc. are not taxed btw.

Bitcoins dont  have taxes. so thats the best feature of bitcoins Wink

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May 27, 2016, 06:00:51 PM
 #156

I live in New York and since I make money trading bitcoin I have to pay a capital gains tax. Between the fed and state taxes its almost 30% on my profits

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May 27, 2016, 06:15:47 PM
 #157

Honestly I don't know how it even works, it's so confusing. Im still trying to learn Bitcoin itself to get involved with taxes. In any case, I have never sold Bitcoin, so I don't think I have to report anything until I sell enough amount that it has to be taxed, but if I sell 100 bucks in Bitcoin to buy something I doubt you have to report this.

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May 27, 2016, 06:18:53 PM
 #158

A good rule when it comes to to irs is if you make over 1000 you should claim taxes. Just to keep irs out of your shit

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May 27, 2016, 06:21:14 PM
 #159

Afiak Bitcoin is considered as internet/digital token by the government, so it isn't taxable and also you don't have to take any license for a service that you want to provide in exchange for bitcoins. But if you are converting bitcoins -> Fiat then it is mandatory to pay tax on it.
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May 27, 2016, 07:27:49 PM
 #160

I heard some countries have strict tax policies but still bitcoin has no tax since its a virtual currency with no tax at allbut when you transfer money then might need to pay tax but for bitcoins i think no tax in whole world at the moment.
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