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Author Topic: Do Bitcoins have Tax??  (Read 39905 times)
rickbig41
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August 11, 2016, 01:48:13 AM
 #341

My bitcoin not use TAX
because my country not regulated about bitcoin
but is exchanger market placed bitcoin in my country is legal company and ready paid TAX

It's normal, be happy that it is like that, atleast it is not banned in your country and the government does not care that much about it.. It is normal too that the exchange site is paying taxes, They are residing in your country and using the service of the your government, so definitely they have to pay tax in your country...

 And you too..  when you use the exchange site to convert your bitcoin to money and withdraw it on the remittance centers, they will impose tax on your money...

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August 11, 2016, 02:00:49 AM
 #342

i think it is good that there is no tax to use this internet currecy . if there will tax like practical money then the use of the btc will be down and it will be useless .


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August 11, 2016, 02:16:59 AM
 #343

My bitcoin not use TAX
because my country not regulated about bitcoin
but is exchanger market placed bitcoin in my country is legal company and ready paid TAX

in my country bitcoin is not a part of currency and no regulation about it, bitcoin is legal people can use it but no tax at bitcoin. maybe in future goverment will make regulation if bitcoin booming in my country.



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August 11, 2016, 05:15:21 AM
 #344

My bitcoin not use TAX
because my country not regulated about bitcoin
but is exchanger market placed bitcoin in my country is legal company and ready paid TAX

in my country bitcoin is not a part of currency and no regulation about it, bitcoin is legal people can use it but no tax at bitcoin. maybe in future goverment will make regulation if bitcoin booming in my country.
The same thing happens here, our government doesn’t give any laws or restrictions about bitcoin but bitcoin itself isn’t popular and widely used in my country so the good thing is we don’t have to pay tax for using bitcoin.

However, it’s hard to use bitcoin directly here so I hope it’ll get more attention from people and the government and then bitcoin might have tax.


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August 11, 2016, 05:34:49 AM
 #345

My bitcoin not use TAX
because my country not regulated about bitcoin
but is exchanger market placed bitcoin in my country is legal company and ready paid TAX
I think wherever you use bitcoin. no one will be able to give you a tax. although there are regulations of a single country. bitcoin will not be given a tax. bitcoin is not suitable for it because you could easily not to pay taxes. because bitcoin is very anonymous


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August 15, 2016, 06:50:25 AM
 #346

There are several options to consider in providing a framework for the taxation of bitcoin and bitcoin transactions.  It is clear that bitcoin is an intangible property.  The specific type of property, however, is elusive.  Possible tax categories for bitcoin include taxing it as personal property, a commodity, a currency, a security or a debt instrument.  Bitcoin has qualities resembling all of these property forms, yet it does not neatly fit any of them.  Irrespective of the difficulty of finding a good match, bitcoin’s classification has had and will continue to have significant tax consequences.
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August 17, 2016, 09:26:13 AM
 #347

bitcoin do not have tax in my country, but I believe other countries does.....though just saying...
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August 17, 2016, 09:29:22 AM
 #348

in my country there are non bitcoin tax, but I believe other countries does...just saying.....
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August 17, 2016, 09:45:50 AM
 #349

in my country there are non bitcoin tax, but I believe other countries does...just saying.....
there's still very few countries which taxing bitcoin or i can say almost none,bitcoin can't be taxed directly because it's decentralized,the government could only taxing bitcoin through every transaction that was made by the merchant who lives in the specific area/region that taxing bitcoin


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August 17, 2016, 09:52:41 AM
 #350

Since bitcoin has no regulation and not recognize by the government in our country, there is no tax in it yet and hopefully they wont implement that because its a pain for the users nobody wants it.

   

 
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September 07, 2016, 04:08:49 AM
 #351



There is no tax right now but when I try to convert bitcoin in fiat I have to pay service tax.
It's same you getting a tax for your bitcoin because although the transaction if have relationships or for bitcoin and getting some charge maybe for the transaction it means you're getting tax for your bitcoin. and I never heard there is another tax from the tax of the transaction.

it's not a tax but a transaction fee Cheesy tax is a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc. while transaction fee is a fee that a broker-dealer assesses on a client for the service of filling an order. Usually, the transaction fee is a percentage of the value of the transaction, but sometimes it is a flat rate, such as two cents per share or seven dollars per trade. those are two different things my friend Cheesy

Thanks for the reply but I'm sure that, it is a service tax because,

That is stated and shown under different head named 'Service Tax'
They do charge fees in different head named 'Fee'

And service tax rate is 15% (which is levied by the government of India) and fees are charged by the service provider.

You can confirm this in fees structure of Unocoin - https://www.unocoin.com/post/92

Since wealth tax is abolished in India, we don't have any such kind of tax as of now but since we are using service to convert any asset, commodity in fiat currency using professional service then in such case we have to pay service tax for the service used.

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September 07, 2016, 04:12:03 AM
 #352

Since there is control of government and it is mined by algorithm not by government banks so obviously there is no tax applicable on bitcoin but yes there is transaction charges while you transfer your bitcoin to others account.


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September 07, 2016, 04:42:51 AM
 #353

Since there is control of government and it is mined by algorithm not by government banks so obviously there is no tax applicable on bitcoin but yes there is transaction charges while you transfer your bitcoin to others account.

There are plenty of countries where you do have to pay tax over everything you own in Bitcoin. So what you say doesn't make any sense. However, is there a way for the government to know you have a position in Bitcoin and you have made profits? Not really. Perhaps if they start digging in your bank account(s) and your exchange history, ten it could be possible. If not, then it's your secret.

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September 07, 2016, 04:57:45 AM
 #354

Since there is control of government and it is mined by algorithm not by government banks so obviously there is no tax applicable on bitcoin but yes there is transaction charges while you transfer your bitcoin to others account.

There are plenty of countries where you do have to pay tax over everything you own in Bitcoin. So what you say doesn't make any sense. However, is there a way for the government to know you have a position in Bitcoin and you have made profits? Not really. Perhaps if they start digging in your bank account(s) and your exchange history, ten it could be possible. If not, then it's your secret.

bitcoin don't have tax while you just use it and transfer in online. But if you release or convert it into fiat that was taxable and you will notice that. Just like on casino, there is no tax when you play on slots or different types of gambling games there but they will deduct you a fee once you converted your chips into money.
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September 07, 2016, 05:03:21 AM
 #355

in my country each service anything linked about bitcoin or not you must pay 1% or taxing.
but not all people do it, some people not reporting his service then he not paying the tax too.

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Viivekvk
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September 07, 2016, 05:09:45 AM
 #356

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 transactions have tax according to diffuclty of mining and amount of btc you transacted


becqause miners required fee to transaction then through blocks !!
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September 07, 2016, 05:15:24 AM
 #357

No bitcoin has not tax in any country across the world i think,specially in my country i am sure that there is no such law about bitcoin taxes because government does not control bitcoin,its decentralised and anonymous so no body can track how much bitcoin is one holding in his/her wallet,so bitcoin tax is not possible.
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September 07, 2016, 05:32:58 AM
 #358

No bitcoin has not tax in any country across the world i think,specially in my country i am sure that there is no such law about bitcoin taxes because government does not control bitcoin,its decentralised and anonymous so no body can track how much bitcoin is one holding in his/her wallet,so bitcoin tax is not possible.
if someone could ever beat every single code inside the blockchain, then that would be likely able to take over that bitcoin network and 'tax'.
anyway, it is not possible as we don't even have enough source to find every single address.

out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will not be instantly responded
i am not really active for some reason
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September 07, 2016, 05:44:09 AM
 #359

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??


yes it have taxese for transaction
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September 07, 2016, 05:51:02 AM
 #360

Since there is control of government and it is mined by algorithm not by government banks so obviously there is no tax applicable on bitcoin but yes there is transaction charges while you transfer your bitcoin to others account.

There are plenty of countries where you do have to pay tax over everything you own in Bitcoin. So what you say doesn't make any sense. However, is there a way for the government to know you have a position in Bitcoin and you have made profits? Not really. Perhaps if they start digging in your bank account(s) and your exchange history, ten it could be possible. If not, then it's your secret.

bitcoin don't have tax while you just use it and transfer in online. But if you release or convert it into fiat that was taxable and you will notice that. Just like on casino, there is no tax when you play on slots or different types of gambling games there but they will deduct you a fee once you converted your chips into money.


Whether you have $1,000,000 in cash, or Gold, or in Bitcoin, it's no different here where I live. Everything I own in Bitcoin adds up to what I already own. And over that amount in total, I have to pay tax. Converting your Bitcoins to fiat doesn't change anything.

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