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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
aubert
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November 01, 2016, 10:52:15 AM
 #521

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
actually if the exchanger companies that is currently now running in your country were legal and had been recognised as a company by the government,they are already taxed,because it's company so it's normal,govt always taxing everything

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November 01, 2016, 11:06:17 AM
 #522

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
not only in your country in every country bitcoin have no tax, maybe just pay fee for bitcoin transaction, for exchanger site i think it's not a tax, just additional payment for service.

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November 01, 2016, 11:12:24 AM
 #523


actually if the exchanger companies that is currently now running in your country were legal and had been recognised as a company by the government,they are already taxed,because it's company so it's normal,govt always taxing everything

That is a big possibility, though bitcoin transaction has no tax but the legit local remittance services /exchanges pay tax to government when they register their business.They pay charges and tax  upon renewal,money that comes in and out etc. In return they can a percentage in service charge,though not direct but still the government earn from it.

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November 01, 2016, 11:30:01 AM
 #524

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
not only in your country in every country bitcoin have no tax, maybe just pay fee for bitcoin transaction, for exchanger site i think it's not a tax, just additional payment for service.

Maybe many are thinking it wrong that those fees are considered as tax, so people are thinking that bitcoin in their country is taxable. But the fact is that I don't have any news read that bitcoin is already under a law and needs to be included for those industry who are profiting and needs to have pay their own obligation for its taxation.



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November 01, 2016, 11:34:34 AM
 #525

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
I think wherever you are, or in any country there is no state that accepts bitcoin openly and cover bitcoin, so there are currently no bitcoin users who have to pay taxes for using bitcoin
yeah I think if that happens of course it's going to hit the system from bitcoin itself like decentralized and anonymous


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November 01, 2016, 12:06:11 PM
 #526

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
Yep. I think you're just overthinking. You know that that cannot happen since the bitcoin network is decentralized. I don't think they can put a tax on local exchange websites at all. The government cannot put tax on bitcoin users even if every single person in your country use bitcoins. Simply because how are they going to do it? They cannot put a tax on every transaction that you make since everything's decentralized.

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November 01, 2016, 12:13:35 PM
 #527

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

Why does it need to get covered by the government? Governments care about their potential income through taxing people and companies and whatever they own and generate. That said, exchanges already pay tax over their turnover and profit generated with fiat, but also with Bitcoin. Nothing new here. And no, this will not deny the whole concept of Bitcoin. It's something that only happens in your head. Governments depend on our honesty when it comes to declaring our holdings and turnover. If we don't declare anything, then they don't get anything.

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November 02, 2016, 02:41:36 AM
 #528

Most countries do not tax bitcoins. They dont even regulate them. The thing is, a government can not impose taxes on bitcoins since it is a currency, same as fiats. The only thing they can impose taxes upon is to the goods and services we acquire by the means of paying with bitcoins. So it is not bitcoins are being taxed upon but the  goods and services.
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November 02, 2016, 02:52:51 AM
 #529

Most countries do not tax bitcoins. They dont even regulate them. The thing is, a government can not impose taxes on bitcoins since it is a currency, same as fiats. The only thing they can impose taxes upon is to the goods and services we acquire by the means of paying with bitcoins. So it is not bitcoins are being taxed upon but the  goods and services.
Yes it is realy hard to take a tax of bitcoin becouse bitcoin is used anonimously so no oe can trace bitcoin transaction. In exception, if bitcoin used to buy some thing in supermarket they have to pay tax becouse supermarket are under goverment permission.

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November 02, 2016, 04:06:40 AM
 #530

Most countries do not tax bitcoins. They dont even regulate them. The thing is, a government can not impose taxes on bitcoins since it is a currency, same as fiats. The only thing they can impose taxes upon is to the goods and services we acquire by the means of paying with bitcoins. So it is not bitcoins are being taxed upon but the  goods and services.
Yes it is realy hard to take a tax of bitcoin becouse bitcoin is used anonimously so no oe can trace bitcoin transaction. In exception, if bitcoin used to buy some thing in supermarket they have to pay tax becouse supermarket are under goverment permission.

Bitcoin is not being taxed because it is not yet government regulated. The government has known about it but they can't impose tax on it because originally it is decentralized and it is hard to trace the person in transaction with it. And maybe the reason why bitcoin is not really popular is that the government doesn't promote it to all people because they don't have the authority to regulate it. For me , the only thing that could shield bitcoin from tax issues are the goods and services being taxed. Wink
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November 02, 2016, 05:13:18 AM
 #531

Most countries do not tax bitcoins. They dont even regulate them. The thing is, a government can not impose taxes on bitcoins since it is a currency, same as fiats. The only thing they can impose taxes upon is to the goods and services we acquire by the means of paying with bitcoins. So it is not bitcoins are being taxed upon but the  goods and services.
Yes it is realy hard to take a tax of bitcoin becouse bitcoin is used anonimously so no oe can trace bitcoin transaction. In exception, if bitcoin used to buy some thing in supermarket they have to pay tax becouse supermarket are under goverment permission.
currently it is also not possible as our country has not yet consider bitcoin as legal currency but i know that once our government will consider bitcoin as legal currency then they must collect tax on bitcoin and they will find way how to collect tax on bitcoin.


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November 02, 2016, 05:45:20 AM
 #532

Definitely not! Bitcoin is a decentralized ecosystem and all transactions except for a small miner transaction fee no taxes or extra fees are charged on your transaction. This is why many people prefer bitcoin over fiat. But it's up to the government to decide currently whether gains made from your bitcoin investment is subject to their taxes or not.

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November 02, 2016, 10:02:39 AM
 #533

Definitely not! Bitcoin is a decentralized ecosystem and all transactions except for a small miner transaction fee no taxes or extra fees are charged on your transaction. This is why many people prefer bitcoin over fiat. But it's up to the government to decide currently whether gains made from your bitcoin investment is subject to their taxes or not.

I couldn't agree more with you, because bitcoin work decentralized, no one or company that have authority to put tax for your bitcoin or for your bitcoin transactions, it is heard so good.
In my point of view the government didn't have any great reasons to take some tax for bitcoin we have and our transactions with bitcoin.

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November 02, 2016, 10:18:50 AM
 #534

Definitely not! Bitcoin is a decentralized ecosystem and all transactions except for a small miner transaction fee no taxes or extra fees are charged on your transaction. This is why many people prefer bitcoin over fiat. But it's up to the government to decide currently whether gains made from your bitcoin investment is subject to their taxes or not.

I couldn't agree more with you, because bitcoin work decentralized, no one or company that have authority to put tax for your bitcoin or for your bitcoin transactions, it is heard so good.

Do you guys even take the effort to think further than your own limited "knowledge"? I'll try to keep it very simple. Bitcoin being decentralized plays no role here. Bitcoin is money. Whatever you do to earn Bitcoins or money (fiat), you are (officially) obliged to pay tax over that amount. Whether or not you fairly declare everything is up to you, but that's how it should be. There may of course be some exceptions in certain cases, but that's different per government. But the main points of declaring your earnings and wealth are the same.

In my point of view the government didn't have any great reasons to take some tax for bitcoin we have and our transactions with bitcoin.

I can agree with that as I myself also don't feel any need to declare my holdings and profits in Bitcoin, even though I am officially obliged to do so. I am in Bitcoin because I want to have a certain part of my wealth outside the reach of banks and governments, and I will continue to hold on to that. In that regard, the government will not get a single penny in tax from me.

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November 02, 2016, 10:35:15 AM
 #535

Bitcoin didn't has a tax ,because although the government take tax from bitcoin but bitcoin can used anonimously , so the government can't trace history of bitcoin .so they can't do anything. I think we do not have to worry.
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November 02, 2016, 10:36:59 AM
 #536

Bitcoin didn't has a tax ,because although the government take tax from bitcoin but bitcoin can used anonimously , so the government can't trace history of bitcoin .so they can't do anything. I think we do not have to worry.

as had been spoken by so many people repeatedly and very often,bitcoin is not fully anonymous,each transaction you have made can be traced by using blockchain explorer, therefore it's usually called pseudo-anonymous,and if bitcoin can't tax you directly,they can tax you while buying stuff through the merchants

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November 02, 2016, 12:46:55 PM
 #537

Bitcoin didn't has a tax ,because although the government take tax from bitcoin but bitcoin can used anonimously , so the government can't trace history of bitcoin .so they can't do anything. I think we do not have to worry.

i am not sure whether this statement is completely true,bitcoin is an open source ledger,hope you have heard the case about Ross William Ulbricht and
Atrem Vaulin they were not that anonimous and were involved in illegal activities but they are caught and all of their coins are Confiscated  Smiley


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November 02, 2016, 12:51:57 PM
 #538

I don't think the government can even track your transactions, they can't even associate you with a bitcoin address. Also it is impossible for you to be tax with owning a bitcoin if it is not properly regulated in your country. And even I don't think that a government will take the time of tracking all the transaction you have with your address as millions of transactions happen per day. Also you don't know if that bitcoin sent to you is a way of earning or just by your relatives or love ones sending money which is not a form of income.

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November 02, 2016, 01:07:46 PM
 #539

I dont think so. Because yesterdag I withdrawn My bitcoin and converted into cash yesterday using bitcoin atm. And The fee is 5% that is quite big. I dont know where the 5% belongs is it for the transaction fee of blockchain or is it the tax of the bitcoin atm machine. It was my first time yesterday thats why I didnt know where my 5% goes.

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November 02, 2016, 01:09:40 PM
 #540

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 for now, but, bitcoin world is now spreading rapidly, in the next years it is not  impossible that government will imposed tax on it. If it has tax already it would be alright with me, because it is for the benefit of all people.
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