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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
socks435
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January 07, 2017, 07:16:16 PM
 #821

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.
yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

This fee isn't really necessary. You can pay it only if you wish and as much as you wish: you can go even with 1000 satoshis which is under $0.0088 at the moment if you don't need a fast-confirming transaction. The websites usually show that "it might never get confirmed" but I think it will, but after a much longer time. For paper wallets that wouldn't hurt me - they can get confirmed even in one month, I want to store them for a long term.
I think you are wrong they are talking about the tax means its a fee for government tax.. a fee you are talking about is a fee for transaction sending bitcoin to another bitcoin address and i think you can not pay a fee with 1000 sat it takes a long time to receive much better to set your fee from default in 50k sat per kb.. so that you can't experience problem for your transaction..


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Tanic
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January 07, 2017, 07:20:37 PM
 #822

I have heard that in Russia are going to appear a new law that controls bitcoin already this spring. They will fix in that law the obligation to pay taxes for bitcoin users, the same kind of taxes as business mans pay from their profit.
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January 07, 2017, 07:30:51 PM
 #823

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.
yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

What in the hell is a fact tat or a government applement tax and how can you be sure there's no rax on bitcoin? Drugs can kill you dude. Be careful.

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January 07, 2017, 09:23:44 PM
 #824

if you dont share the information of you having bitcoin to the government and dont convert it to fiat, you wont have to pay any taxes on the amount of the asset you have. Buy directly with bitcoin and you should be good. Newegg.com accepts bitcoin. have fun
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January 07, 2017, 10:13:46 PM
 #825

Probably the same rules as Apple holding its profits offshore - when you change it back into your local currency, you pay tax on it.
I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat

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January 08, 2017, 03:34:09 AM
 #826

Probably the same rules as Apple holding its profits offshore - when you change it back into your local currency, you pay tax on it.
I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat
Yes I think so. Taxation on bitcoin is not easy because the user is readily know. Britain and europe have been trying to provide clear rules on companies that fall within the scope of virtual currency such as exchange of virtual currency by minimize the anonimity of people who using the services of these companies.


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January 08, 2017, 03:38:05 AM
 #827

Probably the same rules as Apple holding its profits offshore - when you change it back into your local currency, you pay tax on it.
I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat
Yes I think so. Taxation on bitcoin is not easy because the user is readily know. Britain and europe have been trying to provide clear rules on companies that fall within the scope of virtual currency such as exchange of virtual currency by minimize the anonimity of people who using the services of these companies.


You would think they would only tax you if you're exchanging btc for fiat or fiat for btc, but apparently miners in the usa have to recognize the coins at their value the day that they were mined and pay taxes on them. How they plan on enforcing that one I have no idea.
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January 09, 2017, 02:29:13 AM
 #828

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

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January 09, 2017, 02:58:22 AM
 #829

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...
It's not income tax, and it will not go to the government. It's just a transaction tax means in which you will exchange your bitcoin to fiat currency they will take a commission in the form of tax that's it. If it has tax, then the Bitcoin will become legal currency. But it is not legal currency why because there is no income from Bitcoin to governments.
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January 09, 2017, 03:43:31 AM
 #830

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...
It's not income tax, and it will not go to the government. It's just a transaction tax means in which you will exchange your bitcoin to fiat currency they will take a commission in the form of tax that's it. If it has tax, then the Bitcoin will become legal currency. But it is not legal currency why because there is no income from Bitcoin to governments.
that's right,i think trade between local currency to bitcoin have no tax,its not a tax,but fee. and op known that bitcoin have no tax,it only have fee transaction,and its run to blockchain server,i mean for who take over blockchain.  Grin
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January 09, 2017, 03:49:08 AM
 #831

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...
I never experience such, when I think of exchanging my bitcoin to fiat I only need to sold my bitcoin with the current price. There was never a time that I paid taxes for exchanging to fit, and I think this will be the best benefit of using bitcoin to be tax free. Despite of that, I am still not confident this will continue as our government is already looking to tax our transactions with bitcoin, and until the law is not yet published we continue to enjoy the tax free system.

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January 09, 2017, 05:24:20 AM
 #832

So far there is no tax, but i think some people who willing to be the bit trader will eventually make tax for you, just like my local's number provider.
example: google play pricing around 129idr but the provider taxing u and the invoice u got is around 130idr. thats the way it work!


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January 09, 2017, 09:59:56 AM
 #833

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...
I never experience such, when I think of exchanging my bitcoin to fiat I only need to sold my bitcoin with the current price. There was never a time that I paid taxes for exchanging to fit, and I think this will be the best benefit of using bitcoin to be tax free. Despite of that, I am still not confident this will continue as our government is already looking to tax our transactions with bitcoin, and until the law is not yet published we continue to enjoy the tax free system.

Do you have any link for a credible website to support that claim? The government don't own all of the bitcoins in regulation, they can't tax it. Just like how people avoid paying taxes in fiat, there would always be a way to do that in here as well, assuming that the government somehow successfully are able to implement tax in bitcoins.

I think the "tax" that the other guy was talking about is actually the fee that you pay for when you convert your bitcoins into fiat and transfer them to your bank account.

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1Referee
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www.bitkorn.com domain for sale.


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January 09, 2017, 10:12:11 AM
 #834

So far there is no tax, but i think some people who willing to be the bit trader will eventually make tax for you, just like my local's number provider.
example: google play pricing around 129idr but the provider taxing u and the invoice u got is around 130idr. thats the way it work!

That has nothing to do with the tax that governments apply. It's just the company in question taking its cut by offering you a certain service. It's called a fee. Governments can only make you pay tax when you declare your holdings and profits in a honest manner. If that doesn't happen, then the governments don't stand a chance. That's why they have changed their approach on how to deal with this matter. They now target exchanges to force them to release user information. From there they can more or less calculate how much tax you owe to the government. Sad reality.

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January 09, 2017, 10:28:52 AM
 #835

Bitcoin doesn't have tax, but based upon the transaction happening within accounts taxes will be levied. Also on just based upon this issue there are countries that make strict regulations for the bitcoin usage within the country.


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January 09, 2017, 12:10:47 PM
 #836

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.


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January 09, 2017, 12:54:16 PM
 #837

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.
It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

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January 09, 2017, 01:02:18 PM
 #838

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.
It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.
Obviously right. Even if you don't want to pay tax by taking advantages of the decentralised system but when you're going to buy some goods then you will indirectly give tax in your bills
Although paying tax is not always bad for your economy because if you want to just live in peace without being chased by the police, just do what you're obligated to do

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BitHodler
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January 09, 2017, 02:11:20 PM
 #839

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.
It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.
Obviously right. Even if you don't want to pay tax by taking advantages of the decentralised system but when you're going to buy some goods then you will indirectly give tax in your bills
Although paying tax is not always bad for your economy because if you want to just live in peace without being chased by the police, just do what you're obligated to do
Sure, I understand the importance of tax, but we together pay an exorbitant amount of tax already.

Even to such a level, that it nearly looks like theft from the governments. That's why I don't understand why in certain occasions people can't be exempted from paying tax.

We have already paid a significant amount of, why do we still have to pay tax over the money we already paid tax over. Even if you want to donate a certain amount of money to your family you have to pay tax.

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January 09, 2017, 02:38:56 PM
 #840

Bitcoin doesn't have any taxes,because they are not considered as real money at most of the countries.

But you do need to pay the miner about 10c per transaction in order to get your transaction confirmed fast.

but 10c is nothing, as if u are making a bank transfer you are going to pay a lot more.
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