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Author Topic: Do Bitcoins have Tax??  (Read 39909 times)
PsursV
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July 22, 2016, 06:17:51 PM
 #241

Bitcoins have a "tax" on transactions, which are fees, because it helps the miners to have a bit more Bitcoin in their pocket, while prioritizing your transactions and helping everything to move along smoothly.

As for tax on income with Bitcoin, the only tax that exists is one that is imposed by the government on any capital gains you might get from Bitcoin, and anything else that's similar to that.
but it might only be present in those countries who have legalize it. other wise as it is not legalized not regularize by any state therefore they have not yet impose tax on bitcoin. so in most of the area bitcoin is still tax free.
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July 22, 2016, 06:29:16 PM
 #242

As far as I know, there's no tax. I never read the laws of other countries though, but I never heard of paying taxes for BTC either. The only 'tax' you can have is the commission when you exchange BTC into any other currency and vice versa.
For now your right there is no country that has a laws for taxes for bitcoin.. but i think if we are use bitcoin just like pokemon how pokemon go trends right now maybe government will take action about this to add a laws about the taxes for bitcoin..

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July 22, 2016, 06:38:50 PM
 #243

no we dont have to pay any tax to use this free currency it is our currency which is not related anywhere with government .we van use it anyhow and anywhere

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July 22, 2016, 07:56:26 PM
 #244

bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .

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July 22, 2016, 08:42:49 PM
 #245

bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .


Yeah you are right after governments legalize bitcoin they will start to device tools for collecting the tax for its usage, but still it will be very harder for the governments to collect tax from the users of bitcoin because bitcoin is anonymous currency and no one know that who is its user.
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July 23, 2016, 12:09:50 AM
 #246

It depends on what are you pertaining to.  Tax from government or tax of transaction? I think bitcoin as of now have no tax since it isn't regulated by government yet and i think it is impossible to happen.  If you are talking about the fee on transaction, it is not Tax but a  transaction fee set by miner as payment for their effort in moving blocks and thus confirming your transaction.




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shinratensei_
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July 23, 2016, 01:05:50 AM
 #247

bitcoin have do not any tax because bitcoin is not approved by any government, and if government approve the bitcoin then i think the government will applying the tax on bitcoin .


Yeah you are right after governments legalize bitcoin they will start to device tools for collecting the tax for its usage, but still it will be very harder for the governments to collect tax from the users of bitcoin because bitcoin is anonymous currency.
It's not hard if using your brain to think about the way collecting the taxes from their civilians. In my minds, if the government accept or legalize the bitcoin they can make a new system about that. for example, they having a data about their civilians and the total that. they can make a new listing and generate/making or giving a new permanent address to each person and it's very easy to do that but they just making a gate tool for their civilians before making any transaction with BTC to take taxes from the transaction. but the anonymity is fixed will appear the another problem like maybe there are some person or people will using a many addresses in various place.


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July 23, 2016, 01:16:26 AM
 #248

I think in America, when you withdraw from an exchange, to real cash (fiat), you are supposed to claim the gains on your taxes just like you would for a stock or mutual fund. Someone correct me if I'm wrong on that.
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July 23, 2016, 02:14:12 AM
 #249

Bitcoin has no tax but it has fees when doing transaction.
As far as I know, government have rules about tax only for legalized currency, while bitcoin isn't legal currency by government, so bitcoin has no tax to pay.
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July 23, 2016, 08:22:19 AM
 #250

bitcoin is a free system we don't need to  pay any tax to any government or bank because we do not use any of their service to transact but as because miners are adding a extra layer of security by verifying our transaction that's why we are paying them a little amount as a transaction fees

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July 23, 2016, 09:22:27 AM
 #251

bitcoin is TAX FREE!!! only transaction fees are deducted from your bitcoin and they are deducted by your wallet providers!! bitcoin community is a FREE community and we are not affiliated with any government policies and insurance therefore, we should not be charge with TAX!!


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July 23, 2016, 11:12:13 AM
 #252

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??

bitcoin is anonymous so only countries that have officially recognized the bitcoin will be taxing
but not the income tax, but tax exchanger
for example exchangers in Japan for local residents taxed
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July 23, 2016, 02:57:34 PM
 #253

i think bitcoin do not have any tax . because bitcoin is not approve by any government .

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randy8777
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July 23, 2016, 03:19:23 PM
 #254

i think bitcoin do not have any tax . because bitcoin is not approve by any government .

governments do recognize bitcoin as being part of your "normal" fiat holdings. as with all the things you do, you also need to pay tax over what you own in btc. if you keep everything you have in btc hidden away from the government, then there is nothing they can do, and thus you avoid paying tax over your coins.
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July 23, 2016, 03:33:41 PM
 #255

If you are talking about government taxes, it depends on the country. here in brazil bitcoin have taxes(everything here have tax..) even tho they hardly will track your bitcoins and discover if you are lying.

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July 23, 2016, 03:43:12 PM
 #256

Bitcoins are not taxed yet, if you don't count transactions fees that some wallets have. But as I understand bitcoin fees are going for miners and that is a good thing, miners keep everything together.
I think some countries will try to tax bitcoin in the future, or some banks who knows. I think its hard to predict this without connections with some high circles in governments around the world.


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raver36
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July 28, 2016, 01:27:27 PM
 #257

You do not own a tax/interest for having bitcoins.

However, there is a fee for every transaction you make. This fee goes to the miners for processing your transaction.

Since the block size is limited to 1 MB and each transaction takes a certain amount of space, this means that the more people make transactions, the more expensive fees will become. However, this is good, because the reward for each block is halving. This means that in the distant future the transaction fees will be the incentive of the miners.
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July 28, 2016, 08:42:40 PM
 #258

Bitcoins are not taxed yet, if you don't count transactions fees that some wallets have. But as I understand bitcoin fees are going for miners and that is a good thing, miners keep everything together.
I think some countries will try to tax bitcoin in the future, or some banks who knows. I think its hard to predict this without connections with some high circles in governments around the world.
The transaction fees are already an incentive to the miners. However, right now, the total transaction fees that serves as incentives isn't even so much. It's only more or less 1BTC as far as I know and just count the number of miners sharing from that 1BTC. You're clearly not going to notice that.

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July 28, 2016, 08:52:05 PM
 #259

Bitcoin have tax in some ciuntries and in some countries it dont have tax.In my country it dont have tax.
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July 28, 2016, 09:01:57 PM
 #260

Bitcoins are not taxed yet, if you don't count transactions fees that some wallets have. But as I understand bitcoin fees are going for miners and that is a good thing, miners keep everything together.
I think some countries will try to tax bitcoin in the future, or some banks who knows. I think its hard to predict this without connections with some high circles in governments around the world.
The transaction fees are already an incentive to the miners. However, right now, the total transaction fees that serves as incentives isn't even so much. It's only more or less 1BTC as far as I know and just count the number of miners sharing from that 1BTC. You're clearly not going to notice that.
Well even if the fee acts as an incentive for the miners, why don't we see blocks being filled basically to the brim, leaving only a few kilobytes left? I would want to go through and have as many transactions verified as possible in a single block, regardless of the transaction fee, because of the additional money I would get from the miner's fees. I don't entirely understand the network and how the blocks and everything work, but I would expect that's a majority of how that stuff would work.
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