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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
Indrawan77
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October 22, 2016, 01:11:50 AM
 #501

Nobody knows who transfer bitcoin to whom as it is anonymous so government can't force anyone to pay tax for bitcoin related transactions. So simply saying no bitcoin transactions aren't subjected to tax or can be taxed.
Are not true, and what about I always need paying a tax for the miners in every of my transaction, I think that's also including the tax.... the tax is not always be held by the government but the another parties or subject can be held a tax for us.


Lol. Yes obviously we need pay as a feed to miners. Who are helping us to transact the money via blocks. However I don't think it's wrong to pay this less fees instead of paying huge to Wu or PayPal.

What we are paying to miners is not a tax but it is the fee for their work. Tax is something you will pay for the government to support your country growth. I don't think as of now is their any tax for bitcoins unless you convert them into cash and withdraw to your bank account.
Cashing out coins to your bank account doesn't make any difference because of the fact that in most of the countries you have to pay tax over your coins no matter what.

Governments don't care what you do with your coins. Whether you have 10BTC that is valued at $6290 right now, or just that amount in money, it doesn't matter since Bitcoin is also money.

All your government cares about is that you pay tax according to what you own, trade, have sold, and the list goes on.
Yeah they don't care and they can't do anything when your bitcoin is still in your wallet, when you change it into fiat that is the time government going to taxed you, so if you don't change it to fiat then government can't tax you

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October 22, 2016, 02:10:57 AM
 #502

Nobody knows who transfer bitcoin to whom as it is anonymous so government can't force anyone to pay tax for bitcoin related transactions. So simply saying no bitcoin transactions aren't subjected to tax or can be taxed.
Are not true, and what about I always need paying a tax for the miners in every of my transaction, I think that's also including the tax.... the tax is not always be held by the government but the another parties or subject can be held a tax for us.


Lol. Yes obviously we need pay as a feed to miners. Who are helping us to transact the money via blocks. However I don't think it's wrong to pay this less fees instead of paying huge to Wu or PayPal.

What we are paying to miners is not a tax but it is the fee for their work. Tax is something you will pay for the government to support your country growth. I don't think as of now is their any tax for bitcoins unless you convert them into cash and withdraw to your bank account.
Cashing out coins to your bank account doesn't make any difference because of the fact that in most of the countries you have to pay tax over your coins no matter what.

Governments don't care what you do with your coins. Whether you have 10BTC that is valued at $6290 right now, or just that amount in money, it doesn't matter since Bitcoin is also money.

All your government cares about is that you pay tax according to what you own, trade, have sold, and the list goes on.
Yeah they don't care and they can't do anything when your bitcoin is still in your wallet, when you change it into fiat that is the time government going to taxed you, so if you don't change it to fiat then government can't tax you
The One best thing of bitcoin that I like is the anonimity, it is the advantage of using bitcoin. I think fee for minner is just the same as while we do a transactopn in bank but it is more lower fee. Blockchain is make a new system that make more dificulty to trace the history of transaction. So goverment still can not trace it and force bitcoin users to pay tax. Bitcoin is the best way to avoid tax by goverment. I think pay tax to minner is cheap enough, that is for their work. Although there is a tax like that in bitcoin, but bitcoin is still good to be a currency and an investment.

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October 31, 2016, 10:12:09 PM
 #503

Nobody knows who transfer bitcoin to whom as it is anonymous so government can't force anyone to pay tax for bitcoin related transactions. So simply saying no bitcoin transactions aren't subjected to tax or can be taxed.
true agree with you of course the government will not be able to force someone to pay taxes  because he using bitcoin, the government will not know if you bitcoin users or not dude ? so you're very easy to not pay and avoid the tax ?
so I think this idea is impossible to be happen?


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November 01, 2016, 01:13:55 AM
 #504

It actually depends on your country.
Most country didn't accept btc as a currency but I think there's no tax on bitcoin but you'll have to pay some tax if you'll going to exchange the fiat to btc or btc to fiat.
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November 01, 2016, 01:30:25 AM
 #505

Although there is no direct way to pay via tax forms or internal systems, the IRS (in America + foreign agencies.).. Either ban or impose taxes or usually through capital gains or other simple means excluding sales tax in current norms.

In no way does Bitcoin remain the exclusive coin for taxation, in most countries it'll be subject to all cryptocurrencies.

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November 01, 2016, 01:35:20 AM
 #506

It actually depends on your country.
Most country didn't accept btc as a currency but I think there's no tax on bitcoin but you'll have to pay some tax if you'll going to exchange the fiat to btc or btc to fiat.
That only if you buy or sell in formal. But if you just make transaction for small home industry, I think goverment would not know that you make a transaction or not so you do not have to pay tax. Anyway goverment can not rule bitcoin and the users.

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November 01, 2016, 01:48:24 AM
 #507

There are no tax on bitcoins as no one control the bitcoins there is no questions of tax. However transaction fees will always required as it will be the only income for the service provider.
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November 01, 2016, 02:00:58 AM
 #508

no tax is a small charge taken by the government in order to develop the country but bitcoin is already developed and all you have to pay is miner fees but it depends on you how much fees you want to pay


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November 01, 2016, 02:19:47 AM
 #509

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??
actually no tax , but transaction charge is taken by the owner of bitcoin .
and here it is to be noticed that the transaction charge is only owned by the owner only and no tax is given by them to the government that is why the some of countries declare it as scam and illegal but in reality it is safe and best to use .


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November 01, 2016, 02:29:34 AM
 #510

It actually depends on your country.
Most country didn't accept btc as a currency but I think there's no tax on bitcoin but you'll have to pay some tax if you'll going to exchange the fiat to btc or btc to fiat.
That only if you buy or sell in formal. But if you just make transaction for small home industry, I think goverment would not know that you make a transaction or not so you do not have to pay tax. Anyway goverment can not rule bitcoin and the users.

especially if you make withdraw for a big money, then it would make the bank company suspicious and ask you where you get those big money and maybe they will apply big tax for you but its not for your bitcoin. i really hope that government can not rule bitcoin and the user, but if we see on many aspect, there is always government wants to get involve no matter the way they still always wanted to get involved.

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November 01, 2016, 03:01:07 AM
 #511

Bitcoin has no tax because it is decentralized.
Meaning, government has no control over bitcoin transactions.
In fact, you use bitcoin anonymously. Your bitcoin wallet provider only charged transaction fees I guess that's their source of income to maintain their service.

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November 01, 2016, 03:35:23 AM
 #512

I don't think as of now there are any tax associated with it. It's not yet recognised currency. As and when it does then maybe. But for time being no, until your local laws have notified it

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Zadicar
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November 01, 2016, 05:34:51 AM
 #513

Bitcoin has no tax because it is decentralized.
Meaning, government has no control over bitcoin transactions.
In fact, you use bitcoin anonymously. Your bitcoin wallet provider only charged transaction fees I guess that's their source of income to maintain their service.

This is   very correct, bitcoin  is decentralized  and theres no way for  government  to impose  tax on it  and thats the  beauty  of bitcoin and  government wouldnt  like it soo much because they cant able to  impose  tax on it. SO government  would see bitcoin as a  threat for them thats  why some countries  ban bitcoin with this.

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November 01, 2016, 06:27:37 AM
 #514

Bitcoin has no tax because it is decentralized.
Meaning, government has no control over bitcoin transactions.
In fact, you use bitcoin anonymously. Your bitcoin wallet provider only charged transaction fees I guess that's their source of income to maintain their service.

This is   very correct, bitcoin  is decentralized  and theres no way for  government  to impose  tax on it  and thats the  beauty  of bitcoin and  government wouldnt  like it soo much because they cant able to  impose  tax on it. SO government  would see bitcoin as a  threat for them thats  why some countries  ban bitcoin with this.

I agree to that, this bitcoins dont have imposed tax and i think only the wallets used for pay out processing was taxed by the government becaused it has been registered by the government. Some countries prohibit bitcoin by reasons of no tax will be collected to it.
As i can see there is no bill for that obligating this bitcoin to be registered to pay tax and maybe in the future this governments planning to impose this in law, i hope its not possible in the future.
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November 01, 2016, 07:47:54 AM
 #515

There are no tax on bitcoins as no one control the bitcoins there is no questions of tax.

Haven't you taken the effort to browse through the last few pages of this thread in order to read what people are saying? Bitcoin being decentralized doesn't mean you don't have to pay tax. In your country you have to pay tax over everything you own. Bitcoin is money, and thus it adds up to your fiat wealth where you normally pay tax over. In that regard, you also have to pay tax over your coins.

Great example;
Whether you have 10BTC that is valued at $6290 right now, or just that amount in money, it doesn't matter since Bitcoin is also money.

However transaction fees will always required as it will be the only income for the service provider.

This thread has nothing to do with fees, so I am not sure why you bring that up here.

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November 01, 2016, 08:03:05 AM
 #516

It actually depends on your country.
Most country didn't accept btc as a currency but I think there's no tax on bitcoin but you'll have to pay some tax if you'll going to exchange the fiat to btc or btc to fiat.

Those taxes are applicable for sure because you are going to get the money in a bank or something which cuts their taxes from the amount as usual, but taxes on earning bitcoins are not applicable no matter which country you live in, as long as you have freedom on internet, you won't need to pay any taxes for this.
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November 01, 2016, 08:08:36 AM
 #517

Weird  question, bitcoins doesn't have a tax, bitcoins can be taxed, that is correct.
Countries tax different things, and that is how they earn money. From them depends how big tax will be, for some baby stuff we don't pay tax in my country, for luxury stuff tax is higher.
Tax depends from country and their system, it's not same in every county. With bitcoins things are not clear, many countries didn't classified bitcoin, until that happen on some places using bitcoins will be free but in some countries bitcoins will be taxed.

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November 01, 2016, 08:16:51 AM
 #518

In my country there is no tax to Bitcoin, the government in my country is not so concerned with bitcoin
Bitcoin is still regarded as monopoly money by central banks and authorities, so there is no tax, but if the government imposed a tax on bitcoin Personally, I would not mind paying taxes on my earnings. the authority will regulate the market and prevent flooding fraud that might be good for bitcoin.

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November 01, 2016, 08:59:03 AM
 #519

In my country there is no tax to Bitcoin, the government in my country is not so concerned with bitcoin
Bitcoin is still regarded as monopoly money by central banks and authorities, so there is no tax, but if the government imposed a tax on bitcoin Personally, I would not mind paying taxes on my earnings. the authority will regulate the market and prevent flooding fraud that might be good for bitcoin.

Here in my country the exchange site we have here is registered within the government and even though they are earning bitcoins.

And bitcoin is not covered by government laws about taxation, they are still oblige to pay taxes since they are a registered exchange site.

So it is just like bitcoins has tax in my country.

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November 01, 2016, 10:20:58 AM
 #520

In my country bitcoin has no tax caused it's not covered by the government.  However since the bitcoin community in my country is getting bigger they might tax it especially the exchange sites.

But if that happens it just denies the whole concept of bitcoin cause it's anonymous, not controlled by anyone and decentralized  Huh

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