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Author Topic: Do Bitcoins have Tax??  (Read 39869 times)
passwordnow
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September 24, 2016, 01:08:13 PM
 #421

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.

Well if you are just here in my country as long as your salary came from online job. You don't have to pay taxes because online jobs are not covered by the taxation here in my country. But the disadvantage of not paying tax is that whenever you are going ask the bank for a loan they are not going to approve you because you are not a taxpayer.

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September 24, 2016, 01:11:10 PM
 #422

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.

Well if you are just here in my country as long as your salary came from online job. You don't have to pay taxes because online jobs are not covered by the taxation here in my country. But the disadvantage of not paying tax is that whenever you are going ask the bank for a loan they are not going to approve you because you are not a taxpayer.

Indeed the procedure of tax like that and I am sure all countries implement the provisions as you are talking about, all countries will surely act decisively to those who do not comply with the regulation that has been done. But I think the bitcoin not including things that should be given to tax, because it has not been approved by the bitcoin all countries



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September 26, 2016, 05:57:09 PM
 #423

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.

Can we ask what government you mean? The rules vary wildly around the world, but almost all places require taxes to be paid for income or growth of capitol.

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September 26, 2016, 09:14:50 PM
 #424

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.
on bitcoins right now there are no taxes but actually if you change it into dollars then you would have to do it
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September 26, 2016, 11:36:08 PM
 #425

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.
you most probably dont have to, at least most of the people dont do that as far as i know, you shouldnt have problem, though thats just my opinion

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September 27, 2016, 12:02:28 AM
 #426

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.
[/quote
As i know this is connected to fiat earning, if you mooved those money at your account you should declare those money, if those money still at bitcoin wallet i do believe there isnt need as some countries arent see well bitcoin transactions, and might try to get your coins connecting them to ilegal stuff.
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September 27, 2016, 02:33:56 AM
 #427

in a few cases bitcoin have the same taxes as forex/stocks, but depends on which country you are from. in any case, it isnt hard to "hide" them  Roll Eyes.

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September 27, 2016, 03:42:54 AM
 #428

i think bitcoin don't have tax, but if this is about withdrawing bitcoin into fiat, i think there is a tax i mean is not like a tax but administration fee that will we see on our account. but for using bitcoin, i think its free from tax, don't know what will be happen if bitcoin is accepted by all country, maybe there is tax for using bitcoin in future.

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September 27, 2016, 03:50:03 AM
 #429

i think bitcoin don't have tax, but if this is about withdrawing bitcoin into fiat, i think there is a tax i mean is not like a tax but administration fee that will we see on our account. but for using bitcoin, i think its free from tax, don't know what will be happen if bitcoin is accepted by all country, maybe there is tax for using bitcoin in future.
If bitcoin be accepted on all of countries will there is tax must be paid but depend on the country that adopt bitcoin, if bitcoin be considered gold i think there is tax, but if bitcoin be considered money i think there is not tax in money.
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September 27, 2016, 03:57:04 AM
 #430

Bitcoin doesn't have tax.

Whatever the Country Bitcoin is located in, the Government will try to add a taxed percentage fee onto it.

So to answer your question, it depends on the location.

With regular areas like Russia, India, etc, they don't really see a point to Bitcoin right now but when they do I think that taxes will be the very least of their concern. Maybe.

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September 27, 2016, 04:37:15 AM
 #431

i think bitcoin don't have tax, but if this is about withdrawing bitcoin into fiat, i think there is a tax i mean is not like a tax but administration fee that will we see on our account. but for using bitcoin, i think its free from tax, don't know what will be happen if bitcoin is accepted by all country, maybe there is tax for using bitcoin in future.

Me too that is what I am thinking because bitcoins are anonymous and it is online for sure the tax is just referring to the obligation we need to help our government.

Since government is not still adopting the use of bitcoins so for sure it is not covered by the law to make bitcoins as also a body to be taxed.

Only the miners fee I am treating as tax.

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September 28, 2016, 12:34:09 PM
 #432

Of course the fees don't go to the government, it isn't taxes, This is just something you give as an incentive to the miner to get them to push your transaction, You have the right to not pay but would need to wait for sometime for a miner to include you in a block.. Regarding actual taxes, There are few countries where BTC is considered a commodity and s taxable.
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September 30, 2016, 12:38:19 PM
 #433

Tx fee is taken by the miner, it's something you pay them to include your transaction in a block. Regarding real taxes, it depend on your location and the local rules.

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September 30, 2016, 12:52:08 PM
 #434

Simply - taxes for transactions are going to the sire or saurse wich provides that. If government does not control to bitcoin how money from tax can go to government? But government has something from this transactions for sure. You pay to the site for the transactions and the site is paying something to government as tax in the case if it registed site with legal activity.
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September 30, 2016, 01:03:07 PM
 #435

no bitcoin have no tax anbd i think itrs very good that bitcoin have no tax and these is the good reason because people use bitcoin than other currrency and its transaction feres is too much low and after approve by governmnt its payable tax.
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September 30, 2016, 01:13:47 PM
 #436

Bitcoin is completely decentralized so no institutions can impose tax on bitcoin. So bitcoin is free from taxes but to transfer bitcoin from one yo another account you will need to pay a small amount of transaction fees. But you can opt to pay 0 fees but your payment will be done lately
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September 30, 2016, 01:16:32 PM
 #437

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??

At the present time now bitcoin don't have any tax. It only has a transaction charge for every individuals member here. And if ever the government will discover the benefits of bitcoin and decided to adopt it in their country that would depend I think for what the government will give a resolution about bitcoin in their community.

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September 30, 2016, 01:16:51 PM
 #438

Bitcoin is completely decentralized so no institutions can impose tax on bitcoin. So bitcoin is free from taxes but to transfer bitcoin from one yo another account you will need to pay a small amount of transaction fees. But you can opt to pay 0 fees but your payment will be done lately

haven't you read through this thread? i guess not. bitcoin being decentralized has nothing to do with whether or not your government will require you to pay tax over the coins that you have. they rely on the people being honest about their holdings and to report everything accordingly. and that's when the government can make you pay tax over your coins.
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September 30, 2016, 01:43:03 PM
 #439

I dont think bitcoins have tax. Maybe it depends to the country where you belong and also if on what purpose or way you use it. For now bticoin dont have taxes, it is free than we have now, when we buy something we already know that even in just a small things already have taxes.
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September 30, 2016, 01:45:07 PM
 #440

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.
I think he is talking about if he gonna send like creating a transaction it always depends on what wallet his using if he really wants to use bitcoin wallet that has noo fee then use bitcoin wallets that based on his country like mine i uses bitcoin wallet depends on my country and it has no fee whenever i withdraw or sell my bitcoins

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