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Author Topic: Do Bitcoins have Tax??  (Read 39871 times)
dihari
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September 07, 2016, 06:53:39 AM
 #361

if it isn't legal in your country, the government can't reach tha tax from your bitcoin transactions.
its only take an exchanger fees.

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September 07, 2016, 07:40:53 AM
 #362

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??

You already said in your first sentence in the edit zone that there is no tax then why still ask where do this tax go?  Huh
It is not really tax it is just a transaction fee. Just like Western Union and other money transfer they need some fees.

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September 07, 2016, 07:48:14 AM
 #363

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 a internet online currency and the goverment does not have any control over it so they can not put any tax on top of it.
This is also why people make use of Bitcoin.
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September 07, 2016, 07:53:52 AM
 #364

Since there is no government interference in mining and we can say it's just a private property which is mined not printed or what ever. It's just a barter system we pay money , get bitcoin and we sell bitcoin and we get money that's it dip in this system TAX is not applicable.
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September 07, 2016, 10:33:33 AM
 #365

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.
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September 07, 2016, 10:38:50 AM
 #366

It varies according to each countries. Usually them may take some transaction charges , that is if you buy or sell bitcoin with fiat currency. It best you talk with your financial adviser if you planning to invest a serious amount in bitcoin

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September 07, 2016, 10:48:46 AM
 #367

Bitcoin is not have tax on my regional because there is not rules who adjust about bitcoin and i think mostly of countries they doesn't take tax for bitcoin activity.
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September 07, 2016, 11:04:33 AM
 #368

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.

in my country the bitcoin user 1:1000 so only 1person from 1000 population know about bitcoin, it's very small proportion, the goverment see bitcoin as online thing not a legal payment prosesor or currency, so no tax at bitcoin.

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September 07, 2016, 11:09:31 AM
 #369

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.

in my country the bitcoin user 1:1000 so only 1person from 1000 population know about bitcoin, it's very small proportion, the goverment see bitcoin as online thing not a legal payment prosesor or currency, so no tax at bitcoin.

many country like your country, just a developing country, no many rules about bitcoin, perhaps even no rules
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September 07, 2016, 12:21:49 PM
 #370

Bitcoin has no tax and it's highly unlikely that the governments are able to put a tax on it. Bitcoin is decentralized, the only tax that you might pay is exchanging fees on altcoin exchange website but nothing else other than that. If you get a thousand dollars because of your work here in the Bitcoin world, then no one's going to put a huge amount of income tax to you. But if you get a thousand dollars from your day job instead, then expect that it will come to you lesser than it really should.

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September 07, 2016, 12:24:18 PM
 #371

It's hard to answer that question because any country has different regulations, if it has any. But I think that in most cases Bitcoin doesn't have a tax on it's own but probably Bitcoin transactions or even trading on exchangers could have.

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September 07, 2016, 12:25:00 PM
 #372

The bitcoin itself doesnt have any tax, because its anonymous and hidden from government, but when you e change it back to fiat, the government will charge you the tax, its the income tax, hopefully government dont meddle up too much in bitcoin, this is the world where we can have freedom
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September 07, 2016, 06:44:07 PM
 #373

if it isn't legal in your country, the government can't reach tha tax from your bitcoin transactions.
its only take an exchanger fees.
you are right, bitcoins usually have no taxes right now in most of the countries and i dont think that they will ever have taxes in the future
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September 07, 2016, 06:54:19 PM
 #374

i there is no tax apply on bitcoin because it not approve by government and not any government adopt the bitcoin and i think after it all there is some tax will apply on bitcoin if anyone using bitcoin they will pay tax on bitcoin.
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September 07, 2016, 07:08:29 PM
 #375

I can't say anything for anywhere else than the US, but, I thought I read somewhere that in the US, bitcoin was taxed as a commodity and that an agency paying close enough attention to the blockchain could possibly catch a person if they didn't report properly. Is what I read misleading and this would not be a real danger? Since, if I remember correctly it was on a tax advice blog from a CPA, was it more something to drum up business for him? Reading these responses to this post I'm starting to wonder and now want to make sure I have the facts straight.
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September 07, 2016, 07:19:45 PM
 #376

it is pretty simple if you make a profit off of buying bitcoin that means buying and selling them then you have to declare it to the tax authorities and pay income tax
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September 07, 2016, 07:25:31 PM
 #377

it is pretty simple if you make a profit off of buying bitcoin that means buying and selling them then you have to declare it to the tax authorities and pay income tax

But what about if I take payment in bitcoin for product or services rendered, or received them as a gift or panhandled them in faucets or signature campaign?
Though, I think the latter two are too low to make enough in a year to need to declare them as income. if I understand US tax laws right.
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September 08, 2016, 10:44:17 AM
 #378

If you withdraw it to fiat and it reaches a tax threshold then most of the time you do have to declare it.
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September 08, 2016, 11:00:55 AM
 #379

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

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warwar
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September 08, 2016, 11:06:00 AM
 #380

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

wow! thats big! how i wish i could earn like that every week! cool! i should work hard more! Cheesy im withdrawing my 0.03 tomorrow because i need it and also here in our country it has no tax but it has fees if you withdraw it but it is okay Cheesy

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.JINBI..

merges gold’s investment
holding value
with
blockchain technology
.
...T H E   G O L D E N   I C O...
.────────     WHITEPAPER     ────────.
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