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Author Topic: Do Bitcoins have Tax??  (Read 39909 times)
aesma
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September 08, 2016, 11:06:12 AM
 #381

If you have no salary and pay a rent, internet connexion, various bills, at some point the taxman will look at you. Or the policeman, thinking you're a drug dealer.

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September 08, 2016, 11:11:03 AM
 #382

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

im just new here in bitcointalk and  it is my firsttime to participate in signature campaign and i hope i can earn that lot like both of you Cheesy and i think that here in our country it has no tax when it comes to bitcoin but i dont think so if there is or not but i hope that it has no taxt when i withdraw

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September 08, 2016, 11:11:17 AM
 #383

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.

If you do a lot of "barter", that's called commerce, and it's definitely taxable.

If you only trade in bitcoin and objects/services, with no fiat money into the mix, it will be difficult to get caught. But since you still need fiat money to live in most places, you have to be smart.

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September 08, 2016, 11:16:25 AM
 #384

No Bitcoin does not have any tax because it is not controlled by the goverment so they cannot put any tax on it even if they wanted to.
Many people are also making use of Bitcoin because there is no tax included.
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September 08, 2016, 12:12:04 PM
 #385

No Bitcoin does not have any tax because it is not controlled by the government so they cannot put any tax on it even if they wanted to.
Many people are also making use of Bitcoin because there is no tax included.

What do you make of the wealth tax some countries have (France, Belgium for example) ? Government don't control the property market, it doesn't mean you don't pay tax.

In France there is a huge tax on gold, yet the government doesn't control the gold market.

What about capital gains taxes ?

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September 08, 2016, 12:57:03 PM
 #386

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.
i have not heard that it has imposed a tax on despite bitcoin transactions made in large numbers so I think it will be safe until the government accepts the existence of bitcoin.

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September 08, 2016, 05:57:48 PM
 #387

If you use a bitcoin ATM I guess you can get away with it.

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September 08, 2016, 05:59:41 PM
 #388

If there were any tax on it then that would be news to me. Undecided

How would it be done if it is not regulated anyhow? Embarrassed

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September 08, 2016, 08:23:06 PM
 #389

No Bitcoin does not have any tax because it is not controlled by the government so they cannot put any tax on it even if they wanted to.
Many people are also making use of Bitcoin because there is no tax included.

What do you make of the wealth tax some countries have (France, Belgium for example) ? Government don't control the property market, it doesn't mean you don't pay tax.

In France there is a huge tax on gold, yet the government doesn't control the gold market.

What about capital gains taxes ?
It is because gold itself can not be considered a currency of it's own, unlike with bitcoin which you can do so.
Putting taxes on bitcoin directly is like putting taxes everytime you use a currency. Practically no real time example for such a scenario. Let us wait and see on how the regulations are moving...

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richardsNY
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September 08, 2016, 10:03:29 PM
 #390

If there were any tax on it then that would be news to me. Undecided

How would it be done if it is not regulated anyhow? Embarrassed

It's very simple, certain governments have categorized Bitcoin as being an asset, and some governments find Bitcoin to be pure money. And that's why you have to pay tax over your Bitcoin holdings as well as your other "normal" holdings. Not very difficult to spot, right?
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September 09, 2016, 05:27:44 AM
 #391

No Bitcoin does not have any tax because it is not controlled by the government so they cannot put any tax on it even if they wanted to.
Many people are also making use of Bitcoin because there is no tax included.

What do you make of the wealth tax some countries have (France, Belgium for example) ? Government don't control the property market, it doesn't mean you don't pay tax.

In France there is a huge tax on gold, yet the government doesn't control the gold market.

What about capital gains taxes ?
It is because gold itself can not be considered a currency of it's own, unlike with bitcoin which you can do so.
Putting taxes on bitcoin directly is like putting taxes everytime you use a currency. Practically no real time example for such a scenario. Let us wait and see on how the regulations are moving...

I'm not saying it's practical to tax, I'm saying it's not tax free. I used to sell stuff on eBay. Used computer hardware, to buy new one. Only my personal stuff. I still should have paid tax on this.

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dearbesz1219
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September 09, 2016, 06:13:03 AM
 #392

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

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Zadicar
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September 09, 2016, 09:58:21 AM
 #393

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled  by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.


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September 09, 2016, 12:54:36 PM
 #394

I don't think so...but in some countries it might be possible.. But I also still feel that bitcoin it can turn to real cash and used for tax...
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September 09, 2016, 01:08:07 PM
 #395

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled  by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.

bitcoin being decentralized has nothing to do with whether or not you have to pay tax. you as individual are responsible for your tax declarations. if you declare that you own a certain amount of bitcoin, then you have to pay tax over your coins. it's that simple.
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September 09, 2016, 01:59:14 PM
 #396

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
You gonna make it soo soon just work hard and every thing will follow Smiley im earning also in my signature campaign where i earn 0.004 daily if i made 20 post a day and thats big for me and i can withdraw my bitcoin every week which is the has no fee because im using bitcoin wallet that patnered some bank :|)

       
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September 09, 2016, 02:08:06 PM
 #397

Comparing with any service and if we note that you can transfer any amount you want the taxation is ridiculously small. It's pretty symbolic and even for a maintenance it's the smallest in the world.


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September 09, 2016, 02:17:01 PM
 #398

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 actually don't have any deduction about in tax. Only charge fee for every transaction. If ever bitcoin have tax I think that time bitcoin maybe control by the government.

True, theres no tax on bitcoin since its decentralized and doesnt controlled by anyone. You have a point if it do have a tax maybe its already controlled  by the government. Transaction fees are there but its just small even if you intend to transfer huge amounts but the transfer fee is the same.

bitcoin being decentralized has nothing to do with whether or not you have to pay tax. you as individual are responsible for your tax declarations. if you declare that you own a certain amount of bitcoin, then you have to pay tax over your coins. it's that simple.

Finally someone with some understanding of what we're talking about !

It may be easy to cheat the taxman, but it's better to at least realize you're doing it.

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September 09, 2016, 02:20:34 PM
 #399

yes it depends on where you are from but if you are earning alot of money with bitcoin and not showing it to the tax then you are earning black so aslong as the country knows what you earn in bitcoin aswell you should be fine, or you could leave it black but if they find out you might be screwed
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September 09, 2016, 02:26:01 PM
 #400

yes it depends on where you are from but if you are earning alot of money with bitcoin and not showing it to the tax then you are earning black so aslong as the country knows what you earn in bitcoin aswell you should be fine, or you could leave it black but if they find out you might be screwed
yes, most countries do collect taxes from all the things that make money, including bitcoin. of course we have to report our wealth in the form of bitcoin to determine the amount of tax
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