Do Bitcoins have Tax??

[Mr. Big]

Bitcoin has not tax in my country but my friend said to me there is tax for bitcoin for some countries .

Like here in my country there is no tax impose in bitcoin that is why i use this for transfer money to my family than using remittance center and also i do not want it to be legalize because once government accepting bitcoin to be legal currency they required bitcoin to have tax in every transaction to made.

As I've said before and others too, there is no tax in bitcoin when it is raw and you are not using it, but if you would transfer it to fiat then there is already a tax in it... In short, if you "spend" your coins as fiat, there will be a tax in it, and  if you use it in any stores/exchanges and any duly authorized and recognized by the government, those merchants could add the tax in your purchased item or service...

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[bravehearth0319]

here in my country, Bitcoins have no tax. But once the government  find out the good thing about it I think they will implement tax to all bitcoin user here. Maybe in some other countries who accepted bitcoin have tax,.

[erickkyut]

here in my country, Bitcoins have no tax. But once the government  find out the good thing about it I think they will implement tax to all bitcoin user here. Maybe in some other countries who accepted bitcoin have tax,.

I don't think so. The government cannot do that since they are not affiliated with any bitcoin community or businesses. and besides, bitcoin transactions have no any contracts or legality.

[junder]

the same here in my country still not have tax
because the government in my country not accept bitcoin for the payment.

[TastyChillySauce00]

here in my country, Bitcoins have no tax. But once the government  find out the good thing about it I think they will implement tax to all bitcoin user here. Maybe in some other countries who accepted bitcoin have tax,.

I don't think so. The government cannot do that since they are not affiliated with any bitcoin community or businesses. and besides, bitcoin transactions have no any contracts or legality.

even they don't have any affiliation with bitcoin devs or anything,but there's still a way like taxing every transaction which done by their local merchants so the merchant will add some tax in the bill when the customer going to pay

[diodio5]

Bitcoin has not tax in my country but my friend said to me there is tax for bitcoin for some countries .

Lol I think your friend has been tricked you lol. I think it is impossible to be granted tax bitcoin. how to give a tax if
the government does not know which address you are and bitcoin is anonymous and it was no support for built-in tax

[Jambolb2]

the same here in my country still not have tax
because the government in my country not accept bitcoin for the payment.

Yeah maybe if someday bitcoin accepted by the government then we will pay taxes for using bitcoin, but it will not happen in the near future I think. Same in my country as well, bitcoin is still not legalized or illegal so there is no tax due using bitcoin here.

[Decoded]

No tax here in Australia. But if you liquidate a fair sum of bitcoin into Fiat, the government might think something's up, and even charge you for income tax.

[groll]

the same here in my country still not have tax
because the government in my country not accept bitcoin for the payment.

Yes, bitcoins have no tax at all. Since it is not regulated by the government yet and there are no policies as basis for the tax scheme for bitcoin activities and business there are no basis to have bitcoin taxes.
Another thing bitcoin is decentralized and thats what makes it also hard to tax.
But maybe in the future that will happen when government will pursue regulating bitcoins.

[PsursV]

Bitcoin has not tax in my country but my friend said to me there is tax for bitcoin for some countries .

i dont think that there will be a single country where the government has imposed tax on bitcoin. i think some countries may be thinking about this but only those countries who have accepted bitcoin and make a policy for bitcoin. only those countries will be thinking about bitcoin to impose tax on them, other wise i dont think that still a single country has tax on bitcoin.

[Wowcoin]

I know there is no tax in bitcoin . Because I've used it so I know it tax free . Transaction fee per transfer more because my main wallet I carried blockchain trasaction fee with it . So i'm using Xapo because no fee transaction . The main wallet I just can reduce your fee for remittance to issue money. So bitcoin is tax free.

[Xester]

In my country, there ain't any taxes and everybody here is warned not to trade Bitcoins as it is the most volatile currency and our Reserve Bank says that "we should not invest what we cannot afford to lose"...

The banks has a point but bitcoin is better than saving in banks making our money sleep without return.

Bitcoin is not taxable not because its volatile but because it is decentralized and not regulated by the laws and policies of the government.

[yubsep]

Taxing of bitcoin depending on your zone.. In my country still no details on bitcoin...

[Capradina]

Taxing of bitcoin depending on your zone.. In my country still no details on bitcoin...

It might just happen, but I think it will never happen. Because the system cannot be modified or bitcoin edited by everyone who uses it, because the system has locked bitcoin and owner of the bitcoin is unknown. There is only one option that might be the case, any country that wants to take taxes from bitcoin bitcoin wallet and should make all countries should use the wallet

[raver36]

Short answer: YES

Bitcoin has no authority to demand taxes, its a math program.
Governments have the authority however. In the U.S., ALL MONEY YOU MAKE IS SUBJECT TO TAX LAW. Sometimes your tax rate may be zero, but the laws still apply. In the case of bitcoin you owe capitol gains on the appreciation in value. The rate varies depending on your tax bracket and other factors, but 10% is a normal amount.

Don't kid yourself into thinking that you don't have to pay taxes. All your transactions have been recorded on the blockchain forever and one day the IRS may hand you a bill that also includes penalties and interest. You might even have to do a little jail time.

What the fuck man xDDD. This shit sounds scary :D

They can't prove that you own the BTC address.

[Almagro]

Countries will tax bitcoin soon or later as they see they can get a fee from it ,even not aceepting it yet they will tax ,if not declared they will take full control of the wallets as had already happened with a member here ,and law hitted his pocket deeply...

[TheGodFather]

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??

Tax is implemented by the Government Agencies. These taxes is used to upgrade the city or a country. If a Country don't have any tax, maybe they don't have a good government. Some people says that Taxes are the biggest wallet in your country. The bigger the tax, the higher the amount. Tax can be used into government buildings, government machines, public places, and many more.

[Ferrero]

It is only a matter of time before the governments start gathering information about your addresses and exchange accounts.

[JeffBrad12]

It is only a matter of time before the governments start gathering information about your addresses and exchange accounts.

And where from the government can getting about the personal information like address and exchange account, it's wrong maybe the government will make a permanent address for their civilians and easy to monitoring the activity of their transaction.

[Yutikas_11920]

It is only a matter of time before the governments start gathering information about your addresses and exchange accounts.

And where from the government can getting about the personal information like address and exchange account, it's wrong maybe the government will make a permanent address for their civilians and easy to monitoring the activity of their transaction.

You do not need to worry about it, because the Government certainly has a way as he said. so this is an issue that can be addressed, I think the cost of the tax for users of bitcoin will make considerable changes in the growth of the bitcoin. Because if the Government has already enacted a tax, then the Government officially approved the existence of bitcoin