Do Bitcoins have Tax??

[marleybobthedog]

Since there is no government interference in mining and we can say it's just a private property which is mined not printed or what ever. It's just a barter system we pay money , get bitcoin and we sell bitcoin and we get money that's it dip in this system TAX is not applicable.

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[TraderETH]

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.

[daneranon89]

It varies according to each countries. Usually them may take some transaction charges , that is if you buy or sell bitcoin with fiat currency. It best you talk with your financial adviser if you planning to invest a serious amount in bitcoin

[CraigWrightBTC]

Bitcoin is not have tax on my regional because there is not rules who adjust about bitcoin and i think mostly of countries they doesn't take tax for bitcoin activity.

[CrimBit]

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.

in my country the bitcoin user 1:1000 so only 1person from 1000 population know about bitcoin, it's very small proportion, the goverment see bitcoin as online thing not a legal payment prosesor or currency, so no tax at bitcoin.

[radamiel]

On my country there is not tax for bitcoin, bitcoin is considered as new things and there are not valuable in it. Bitcoin's users are still little amount be compared with users of fiat or gold.

in my country the bitcoin user 1:1000 so only 1person from 1000 population know about bitcoin, it's very small proportion, the goverment see bitcoin as online thing not a legal payment prosesor or currency, so no tax at bitcoin.

many country like your country, just a developing country, no many rules about bitcoin, perhaps even no rules

[Xenophoto]

Bitcoin has no tax and it's highly unlikely that the governments are able to put a tax on it. Bitcoin is decentralized, the only tax that you might pay is exchanging fees on altcoin exchange website but nothing else other than that. If you get a thousand dollars because of your work here in the Bitcoin world, then no one's going to put a huge amount of income tax to you. But if you get a thousand dollars from your day job instead, then expect that it will come to you lesser than it really should.

[bitbunnny]

It's hard to answer that question because any country has different regulations, if it has any. But I think that in most cases Bitcoin doesn't have a tax on it's own but probably Bitcoin transactions or even trading on exchangers could have.

[machinek20]

The bitcoin itself doesnt have any tax, because its anonymous and hidden from government, but when you e change it back to fiat, the government will charge you the tax, its the income tax, hopefully government dont meddle up too much in bitcoin, this is the world where we can have freedom

[coin_gambler]

if it isn't legal in your country, the government can't reach tha tax from your bitcoin transactions.
its only take an exchanger fees.

you are right, bitcoins usually have no taxes right now in most of the countries and i dont think that they will ever have taxes in the future

[skyway1]

i there is no tax apply on bitcoin because it not approve by government and not any government adopt the bitcoin and i think after it all there is some tax will apply on bitcoin if anyone using bitcoin they will pay tax on bitcoin.

[dc1a0]

I can't say anything for anywhere else than the US, but, I thought I read somewhere that in the US, bitcoin was taxed as a commodity and that an agency paying close enough attention to the blockchain could possibly catch a person if they didn't report properly. Is what I read misleading and this would not be a real danger? Since, if I remember correctly it was on a tax advice blog from a CPA, was it more something to drum up business for him? Reading these responses to this post I'm starting to wonder and now want to make sure I have the facts straight.

[calkob]

it is pretty simple if you make a profit off of buying bitcoin that means buying and selling them then you have to declare it to the tax authorities and pay income tax

[dc1a0]

it is pretty simple if you make a profit off of buying bitcoin that means buying and selling them then you have to declare it to the tax authorities and pay income tax

But what about if I take payment in bitcoin for product or services rendered, or received them as a gift or panhandled them in faucets or signature campaign?
Though, I think the latter two are too low to make enough in a year to need to declare them as income. if I understand US tax laws right.

[tomwoodservices]

If you withdraw it to fiat and it reaches a tax threshold then most of the time you do have to declare it.

[marcuslong]

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

[warwar]

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

wow! thats big! how i wish i could earn like that every week! cool! i should work hard more! im withdrawing my 0.03 tomorrow because i need it and also here in our country it has no tax but it has fees if you withdraw it but it is okay

[aesma]

If you have no salary and pay a rent, internet connexion, various bills, at some point the taxman will look at you. Or the policeman, thinking you're a drug dealer.

[abayan]

Im always converting my bitcoin in real cash every week end because i need it for my daily expenses where i can earn bitcoin from signature campaign estimated 0.03 plus bitcoin every week that's too much for me and if im going to withdraw that bitcoin we don't have to pay the tax because it's always free.

wow! thats big! how i wish i could earn like that every week! cool! i should work hard more! im withdrawing my 0.03 tomorrow because i need it and also here in our country it has no tax but it has fees if you withdraw it but it is okay

im just new here in bitcointalk and  it is my firsttime to participate in signature campaign and i hope i can earn that lot like both of you and i think that here in our country it has no tax when it comes to bitcoin but i dont think so if there is or not but i hope that it has no taxt when i withdraw

[aesma]

Since there is no government interference in mining and we can say it's just a private property which is mined not printed or what ever. It's just a barter system we pay money , get bitcoin and we sell bitcoin and we get money that's it dip in this system TAX is not applicable.

If you do a lot of "barter", that's called commerce, and it's definitely taxable.

If you only trade in bitcoin and objects/services, with no fiat money into the mix, it will be difficult to get caught. But since you still need fiat money to live in most places, you have to be smart.