Do Bitcoins have Tax??

[densuj]

At my country Indonesia there is not tax in bitcoin, but some countries will apply  tax for using or ownership of bitcoin. For more details can be checked on this news  http://www.coindesk.com/italy-tax-speculative-bitcoin-uses/

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[Nowl1935]

Here in my country, as of now bitcoin don't have any tax. Maybe if bitcoin is recognize by a government to be  a legal Curency in a country, i think thats that time bitcoin have a tax.

[Achargeturry78]

Here in our country bitcoin has tax because if I cash out my money I pay for fee in remittances to get my money. And remittances has a government tax but if you take your bitcoin in atm cardless there is no tax in there and also in banks. So I guess it defends on what you withdraw your money.

[defined]

"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.

[pmstalk]

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??

so far bitcoin have no tax,and since bitcoin founded. but i believe in some countries,bitcoin is considering to have tax,and also happen in my country.

It depend upon government law of particular countries If government applies tax for bitcoin means they accept currency leagelly ,hence it will good sign for developing BTC transitions in every sector.

[randy8777]

"Does money have Tax??"
It depends on what you do with it. If you earn money, you pay taxes. It depends per country, capital gain tax for example if the value goes up. Possible savings tax.
If you sell your stereo for bitcoin there won't be a tax.

if you sell your stereo there won't be any need to declare your coins since it is a very small amount, but when you for example sell your car for bitcoins, where the value is like $20,000, then your coins become part of your holdings. and that's when you officially must declare your coins. if you are really going to do so, that's up to you, but officially it's a must.

[pinkpanther03]

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??

As far I know bitcoin don't have any tax but it has a percentage of charge in every transaction that we want to make, like investing in the different exchanges platform, mining sites, faucets and etc.

[kidoseagle0312]

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 deduction in every transaction we made. Probably, once the government of each country will realize or discover the advantage of bitcoin, I think some of the official in the government will make a resolution about in bitcoin.

[qiwoman2]

Some countries I am sure are thinking of legalizing bitcoin as a real currency and once that happens it means employers or self employed people will be able to put bitcoin earnings into their tax returns. I am sure this is happening slowly in some advanced countries.

[croutonhexagon]

Bitcoin is completely decentralized which means no organization either government or public can alter the production and transfer policy. No one can impose tax or whatsoever in bitcoin. You are the bank, you ate the wallet you are the all except inventor. So there is no tax applicable on bitcoin so you can do whatever you want to do with bitcoin for free but while transaction wallet will cut a fees which is very less.

[marleybobthedog]

No there

Bitcoin is completely decentralized which means no organization either government or public can alter the production and transfer policy. No one can impose tax or whatsoever in bitcoin. You are the bank, you ate the wallet you are the all except inventor. So there is no tax applicable on bitcoin so you can do whatever you want to do with bitcoin for free but while transaction wallet will cut a fees which is very less.

Exactly there is no hidden tax for using bitcoin. If you have millions our billions of bitcoin then also no one will come to collect traffic from you and also that's not black money because it's a digital asset and not any currency , although it's known as cryptocurrency but it's a digital assets that's what's i know

[BADecker]

Thome tax have thumb tacks.   

[bitcoinisbest]

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.

[BADecker]

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.

In America, income tax is voluntary. The IRS even says so. Of course, the word "tax" means that it is involuntary, so paying IRS taxes is voluntarily involuntary. When you figure out what this means, you just might see how to volunteer out of the income tax system.

[yhlsqj]

Well not sure how did you even think of this that do bitcoins have tax. Each and everything where you have earn profit is taxable by government , depending upon country to country and few of the exceptions may be there where particular thins may be tax exempt. By far no government has made the income of bitcoin to be tax free.

In America, income tax is voluntary. The IRS even says so. Of course, the word "tax" means that it is involuntary, so paying IRS taxes is voluntarily involuntary. When you figure out what this means, you just might see how to volunteer out of the income tax system.

If people think Bitcoin is not income, do they need to pay? Fortunately in my country, government does not charge tax on all incomes, only charges salary tax. Earning on stock is not needed to pay 20% of income tax in some countries.

[safari88]

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

[1Referee]

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

If that's the case, then you must report everything you gained/received in Bitcoin in your yearly tax declaration. If it's not really traceable, then you can even choose to simply not declare anything. Do keep in mind that when you report that you have had a certain income in Bitcoin, that they will know about it. When the price goes up significantly, they will know where to find you.

[passwordnow]

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

Well if you are just here in my country as long as your salary came from online job. You don't have to pay taxes because online jobs are not covered by the taxation here in my country. But the disadvantage of not paying tax is that whenever you are going ask the bank for a loan they are not going to approve you because you are not a taxpayer.

[Yutikas_11920]

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

Well if you are just here in my country as long as your salary came from online job. You don't have to pay taxes because online jobs are not covered by the taxation here in my country. But the disadvantage of not paying tax is that whenever you are going ask the bank for a loan they are not going to approve you because you are not a taxpayer.

Indeed the procedure of tax like that and I am sure all countries implement the provisions as you are talking about, all countries will surely act decisively to those who do not comply with the regulation that has been done. But I think the bitcoin not including things that should be given to tax, because it has not been approved by the bitcoin all countries

[RodeoX]

I am also still confused whether I have to pay taxes or not, because I have had income of bitcoin by an amount in accordance with the rules of my government, whereby if the annual income above $10,000 must pay taxes.

Can we ask what government you mean? The rules vary wildly around the world, but almost all places require taxes to be paid for income or growth of capitol.