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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
Sidas_Crew669
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September 09, 2016, 02:29:42 PM
 #401

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

That is certainly true, most countries in the world, this will definitely do the analysis of the wealth we have. But specifically for bitcoin, I think there hasn't been a country do analyses or acceptance of the bitcoin as one taxpayer. Because the tax is a form of protection of their rights to get freedom in doing something against their wealth for not violating state law


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September 09, 2016, 02:34:42 PM
 #402

What is this nonsense?  

Bitcoin is used for payments ..  which are also known as taxes.  So yes, bitcoin is specifically designed as payment tool, that to settle sums owed, to pay one's tax.  There are taxes paid to miners for their services, there are taxes paid to exchanges for their service, there are taxes paid to restaurants for their services, etc.  There are taxes paid to extortion rings so they don't lock your family up, and there are taxes paid for education, transportation, drugs..  you name it.

If you have a question about a specific person requesting a specific tax, then lets hear it.  Otherwise, this thread is sad nonsense.    


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September 09, 2016, 03:11:18 PM
 #403

No tax, just transaction fee
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September 10, 2016, 12:45:04 PM
 #404

At my country Indonesia there is not tax in bitcoin, but some countries will apply  tax for using or ownership of bitcoin. For more details can be checked on this news  http://www.coindesk.com/italy-tax-speculative-bitcoin-uses/
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September 23, 2016, 06:54:59 AM
 #405

Here in my country, as of now bitcoin don't have any tax. Maybe if bitcoin is recognize by a government to be  a legal Curency in a country, i think thats that time bitcoin have a tax.
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September 23, 2016, 10:59:46 AM
 #406

Here in our country bitcoin has tax because if I cash out my money I pay for fee in remittances to get my money. And remittances has a government tax but if you take your bitcoin in atm cardless there is no tax in there and also in banks. So I guess it defends on what you withdraw your money.
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September 23, 2016, 11:06:37 AM
 #407

"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.
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September 23, 2016, 11:08:11 AM
 #408

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??
so far bitcoin have no tax,and since bitcoin founded. but i believe in some countries,bitcoin is considering to have tax,and also happen in my country.

It depend upon government law of particular countries If government applies tax for bitcoin means they accept currency leagelly ,hence it will good sign for developing BTC transitions in every sector.
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September 23, 2016, 11:20:28 AM
 #409

"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.

if you sell your stereo there won't be any need to declare your coins since it is a very small amount, but when you for example sell your car for bitcoins, where the value is like $20,000, then your coins become part of your holdings. and that's when you officially must declare your coins. if you are really going to do so, that's up to you, but officially it's a must.
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September 23, 2016, 02:01:58 PM
 #410

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??

As far I know bitcoin don't have any tax but it has a percentage of charge in every transaction that we want to make, like investing in the different exchanges platform, mining sites, faucets and etc.

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September 24, 2016, 03:42:07 AM
 #411

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 has no tax deduction in every transaction we made. Probably, once the government of each country will realize or discover the advantage of bitcoin, I think some of the official in the government will make a resolution about in bitcoin.

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September 24, 2016, 06:03:24 AM
 #412

Some countries I am sure are thinking of legalizing bitcoin as a real currency and once that happens it means employers or self employed people will be able to put bitcoin earnings into their tax returns. I am sure this is happening slowly in some advanced countries.

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September 24, 2016, 07:23:38 AM
 #413

Bitcoin is completely decentralized which means no organization either government or public can alter the production and transfer policy. No one can impose tax or whatsoever in bitcoin. You are the bank, you ate the wallet you are the all except inventor. So there is no tax applicable on bitcoin so you can do whatever you want to do with bitcoin for free but while transaction wallet will cut a fees which is very less.
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September 24, 2016, 07:27:06 AM
 #414

No there
Bitcoin is completely decentralized which means no organization either government or public can alter the production and transfer policy. No one can impose tax or whatsoever in bitcoin. You are the bank, you ate the wallet you are the all except inventor. So there is no tax applicable on bitcoin so you can do whatever you want to do with bitcoin for free but while transaction wallet will cut a fees which is very less.

Exactly there is no hidden tax for using bitcoin. If you have millions our billions of bitcoin then also no one will come to collect traffic from you and also that's not black money because it's a digital asset and not any currency , although it's known as cryptocurrency but it's a digital assets that's what's i know
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September 24, 2016, 07:33:08 AM
 #415

Thome tax have thumb tacks.    Cheesy
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September 24, 2016, 07:43:21 AM
 #416

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.

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September 24, 2016, 07:54:46 AM
 #417

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.


In America, income tax is voluntary. The IRS even says so. Of course, the word "tax" means that it is involuntary, so paying IRS taxes is voluntarily involuntary. When you figure out what this means, you just might see how to volunteer out of the income tax system.

Cool
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September 24, 2016, 08:10:13 AM
 #418

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.


In America, income tax is voluntary. The IRS even says so. Of course, the word "tax" means that it is involuntary, so paying IRS taxes is voluntarily involuntary. When you figure out what this means, you just might see how to volunteer out of the income tax system.

Cool

If people think Bitcoin is not income, do they need to pay? Fortunately in my country, government does not charge tax on all incomes, only charges salary tax. Earning on stock is not needed to pay 20% of income tax in some countries.

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September 24, 2016, 08:21:58 AM
 #419

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

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September 24, 2016, 08:33:04 AM
 #420

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

If that's the case, then you must report everything you gained/received in Bitcoin in your yearly tax declaration. If it's not really traceable, then you can even choose to simply not declare anything. Do keep in mind that when you report that you have had a certain income in Bitcoin, that they will know about it. When the price goes up significantly, they will know where to find you. Wink

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