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Author Topic: Do Bitcoins have Tax??  (Read 39868 times)
aubert
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January 20, 2017, 08:36:51 AM
 #901

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.
Taxing on bitcoin is not just when it's defined as a currency or official money, as for example In U.S.A bitcoin is considered as a property, therefore, it's taxed. But in my opinion, the money itself never taxed by the government but the things which are taxed by the government is your wealth not matter you're saving it up in which form.
If you ever curious about how the taxation in USA against bitcoin works, go here : https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance

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DroomieChikito
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January 20, 2017, 10:15:36 AM
 #902

My country has a duty as a supervisory exchange tax every bitcoin exchange with original currency will be charged a hefty memberatka

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January 20, 2017, 11:15:48 AM
 #903

It's depend from country to country and theirs laws.

In mine, we have to pay tax only if we buy from a person living in my country. So mostly it isn't a strict law to actually pay but most of them never pay. And also there is only tax if we purchase 20 bitcoin or more on a single day so many people just purchase 19 bitcoins daily.
Some of us buy it with Paypal to hide it. There are laws but aren't so strict if we purchase with credit card or bank transfer no tax.
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January 20, 2017, 12:26:25 PM
 #904

It depends upon the country you are inhabitants of.
There are no taxes on bitcoins if you keep them in your wallet but if you want to do transaction or payment with it then their will be taxes on it
Government cannot just directly put taxes on bitcoins transactions.
Yeah but in some countries they can   
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January 20, 2017, 01:41:42 PM
 #905

It depends upon the country you are inhabitants of.
There are no taxes on bitcoins if you keep them in your wallet but if you want to do transaction or payment with it then their will be taxes on it
Government cannot just directly put taxes on bitcoins transactions.
Yeah but in some countries they can   
Yup ! But I also thinks that. , i indirectly we are giving tax to the government . Because when we transfer our money from our bank to another person to buy bitcoin then we need to declare for which reason we have tranffered the money of bank to the beneficiary account .
So in this way to.keep himself from any law of government we need to pay tax , according to taxation system , So no doubt we are paying tax indirectly .


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January 20, 2017, 01:54:19 PM
 #906

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Well, no need to tax bitcoin, coz one way or another we will be exchanging our bitcoin to fiat. Most probably that is one reason why bitcoin is not being taxed by some countries yet. I do believe that bitcoin will be taxed by the government if it is considered as its property and the use of it is being regulated by them.
You are right but one day it will happen that everyone will use online bitcoin and they will also buy things with bitcoin so then they will not need to convert their bitcoins to fiat so in this case no one will impose tax on bitcoin but only if the governments accept bitcoin as legal for their states.


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January 20, 2017, 02:10:30 PM
 #907

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Well, no need to tax bitcoin, coz one way or another we will be exchanging our bitcoin to fiat. Most probably that is one reason why bitcoin is not being taxed by some countries yet. I do believe that bitcoin will be taxed by the government if it is considered as its property and the use of it is being regulated by them.
You are right but one day it will happen that everyone will use online bitcoin and they will also buy things with bitcoin so then they will not need to convert their bitcoins to fiat so in this case no one will impose tax on bitcoin but only if the governments accept bitcoin as legal for their states.
If bitcoin happens to be our mode of payment in online shopping or even in mall etc, it will possibly that government have imposed tax already with it because businesses have business tax and that tax will pass to the buyer so whatever you buy with bitcoin all transaction have tax included with it.

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January 20, 2017, 02:12:03 PM
 #908

There are no tax on bitcoins as no one control the bitcoins there is no questions of tax. However small transaction fees will always required as it will be the only income for the service provider.
Nope. Almost every country in the world requires some kind of tax on bitcoin.

Yes, it requires tax yet tax come when you convert your bitcoin into your fiat and withdraw it, and I guess transaction fees is just a tax being paid by the service given to the server. But directly bitcoins has no taxes.
 

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January 20, 2017, 02:30:38 PM
 #909

There are no tax on bitcoins as no one control the bitcoins there is no questions of tax. However small transaction fees will always required as it will be the only income for the service provider.
Nope. Almost every country in the world requires some kind of tax on bitcoin.

Yes, it requires tax yet tax come when you convert your bitcoin into your fiat and withdraw it, and I guess transaction fees is just a tax being paid by the service given to the server. But directly bitcoins has no taxes.
 
And I think it can vary a lot around the world. Here in the U.S. you owe capitol gains when you convert to fiat or when you spend bitcoin. And the fee is not a tax at all but rather a fee for service. Only nation states (and maybe warlords) can issue a tax. 

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January 20, 2017, 03:17:59 PM
 #910

Depending on your location and exact country, for example in the US nobody is going to say pay us these taxes while holding a paper BUT you have to make sure you are the one compliant, and if they find out you are not "Bank TX's or anything suspicious you can't explain"...
Whenever you are bitcoin always tax you even you are using different bitcoin wallet nor you are using wallet that based on your country, it always had a fee when you are doing transaction you see the TX there that has it fee's even you are exchange your bitcoin into fiat currency.

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January 21, 2017, 07:14:04 AM
 #911

Yes obviously if we convert bit coins into fiat or transfer it to anyone in a trade ,tax would be their
It is moreoif transaction fee than tax
For storing them in wallets we won't have to pay tax and that's obvious.

   
   
 
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