Do Bitcoins have Tax??

[rababo]

No, bitcoin has no tax. Tax is only run and manage by government, while bitcoin is a cryptocurrency which no one has control with it.
We only pay for fee when we do transactions with bitcoin, other than that we don't have to pay for anything or anyone.

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[arransiv]

No, bitcoin has no tax. Tax is only run and manage by government, while bitcoin is a cryptocurrency which no one has control with it.
We only pay for fee when we do transactions with bitcoin, other than that we don't have to pay for anything or anyone.

If you buy a car, you have to declare yours bitcoins so the government will tax you
So you can have bitcoins without payng taxes but if you go to spend a lot of money, for sure you will pay taxes to the govern.

[ashiqdey]

No bitcoin doesn't have taxes. You might be thinking that bitcoin is a internet money so to convert bitcoin into real money we would have to pay taxes but there is nothing like that. You could sell your bitcoin to trader or you could also sell in exchange site to get paid in real money or whatever they pay

[DeDordtenaar]

I heard italy is going to levy tax on Bitcoin earnings.Some other governments are also discussing about how to impose tax on Bitcoins.Now, we dont pay tax for Bitcoin earnings, but only pay tax when we convert fiat to BTC or BTC to  fiat.

it would be better if you ask a bitcoin users from Italy, is that true or not? I think everyone would be charged a fee when they withdraw their money from the exchange to their bank? I think it is not a tax, but a fee is given from the exchange sites because you do withdraw, I think all exchange sites around the world do that

[Zadicar]

I heard italy is going to levy tax on Bitcoin earnings.Some other governments are also discussing about how to impose tax on Bitcoins.Now, we dont pay tax for Bitcoin earnings, but only pay tax when we convert fiat to BTC or BTC to  fiat.

it would be better if you ask a bitcoin users from Italy, is that true or not? I think everyone would be charged a fee when they withdraw their money from the exchange to their bank? I think it is not a tax, but a fee is given from the exchange sites because you do withdraw, I think all exchange sites around the world do that

Its  just  a  nonsense  assumptions hence exchangers  do really get  fee  on each  trade orders  because they  make   money  on  that in each  transaction  made  by their  traders. Its not a tax  from the government  its a fee  on the exchange  site itself. As we all know  exchangers  do  also an investment.

[JC btc]

I dont think so. Because yesterdag I withdrawn My bitcoin and converted into cash yesterday using bitcoin atm. And The fee is 5% that is quite big. I dont know where the 5% belongs is it for the transaction fee of blockchain or is it the tax of the bitcoin atm machine. It was my first time yesterday thats why I didnt know where my 5% goes.

Lol of course it is a fee that is used by the atm, ATM as like an exchange, when you tried to do withdraw surely you will be given a few percent fee. I think atm bitcoin also like that although I've never used it. but I'm pretty sure it is a fee of bitcoin ATM that you use instead of a government tax Lol

Yep, it is a transaction fee for using their ATM, it is not a tax actually. But, the ATM that you use of course their business has tax.

[uname]

I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think even if in the future though, bitcoin will not be given a tax. bitcoin system will not change until whenever. bitcoin will always be decentralized and will not be changed and the tax will not be imposed

[requester]

no notion is decentralized and there is no chance of government to impose taxes on it. it's a private property and government have no hands over our own money. we haven't taken the money from government banks outs the money that we had mined by our own in our own machine so why should we pay taxes to government.

[lostdroid]

My understanding of UK tax on Bitcoins for individuals (not a company) is that any profits when Bitcoins are sold for GBP are subject to Capital Gains Tax.  There is currently an annual tax-free allowance of £11,110.00.  So unless you are a whale or an incredibly lucky investor you possibly won't pay any tax on Bitcoins sold.  I am a Software Engineer not an accountant nor tax adviser so please don't rely on my understanding.

[ajun96]

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??

The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.

Lol yeah I think it is a transaction fee. you will always get a fee when you send bitcoin wherever, usually your bitcoin will cut about 0.0001 BTC for transaction fees. You need it so that your transaction can be confirmed and it is not a tax dude
tax fee will be different, and I think the tax cannot be implemented to bitcoin

[madwica]

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??

The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.

Lol yeah I think it is a transaction fee. you will always get a fee when you send bitcoin wherever, usually your bitcoin will cut about 0.0001 BTC for transaction fees. You need it so that your transaction can be confirmed and it is not a tax dude
tax fee will be different, and I think the tax cannot be implemented to bitcoin

Correct there is no tax in bitcoin it is only transaction fees that is why we do not like to be government regulated the bitcoin because if that will happen tax will be imposed in bitcoin that is not good to us.

[stadus]

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??

The transaction "tax" you are reffering to isnt really a tax. Its a fee that goes towards paying the miners for confirming your transaction. I would not really consider it a tax, more like a payment to keep bitcoin secure.

Lol yeah I think it is a transaction fee. you will always get a fee when you send bitcoin wherever, usually your bitcoin will cut about 0.0001 BTC for transaction fees. You need it so that your transaction can be confirmed and it is not a tax dude
tax fee will be different, and I think the tax cannot be implemented to bitcoin

Correct there is no tax in bitcoin it is only transaction fees that is why we do not like to be government regulated the bitcoin because if that will happen tax will be imposed in bitcoin that is not good to us.

That's why I am proud to use bitcoin because it can help the adopters to transact with a small amount of fee and if we earn here we are not tax with our income. Pretty easy and very helpful for us this platform.

If bitcoin will be tax, I guess there's no excitement anymore, people will leave for sure.

[rezha275]

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??

I think bitcoin has no taxes, just that I want to melt into any real money, there is always a piece of bitcoin bank. So maybe I think, that the tax, the pieces of each of us draw / thaw bitcoin us into real money.

[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 don't have tax ever since its started only charge for every transactions in every exchange platform. And even bitcoin become popular all over the world it will never be control by any of the government worldwide as long as bitcoin is decentralized.

[CraigWrightBTC]

I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.

[serjent05]

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??

It seems that your question is a bit confusing, because some part of the line does tell about no tax and the other line asked about where the tax go.  Anyway, if you are referring about asking where this transaction fee go, it is a reward to miner (fee) so that they will include your transaction whenever they found a block to process, does the confirmation thing.  The higher your transaction fee is the faster it will be pickup by miners and the lower or no fee transaction are more likely to be ignored.  But don't worry about it it will still be processed but it will take time.

[groll]

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??

It seems that your question is a bit confusing, because some part of the line does tell about no tax and the other line asked about where the tax go.  Anyway, if you are referring about asking where this transaction fee go, it is a reward to miner (fee) so that they will include your transaction whenever they found a block to process, does the confirmation thing.  The higher your transaction fee is the faster it will be pickup by miners and the lower or no fee transaction are more likely to be ignored.  But don't worry about it it will still be processed but it will take time.

Yes its true. The transaction fees that is being charge to all our transactions made with bitcoin will go the the miners. And i think those transaction fees cannot be referred to as tax since tax is a term that is being used as a government revenue. And bitcoin and its transactions has nothing to do with the government and it is not related to any government transaction at all.

[saiha]

I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..

I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins.

Charge or fees are not tax. So if an exchange is registered through local government then they are the one that is responsible for paying the tax.

And not bitcoin itself will be the one who will be taxed but because they are declared in SEC as profitable company.

Then they are obliged for paying their community tax and all types of taxes whether they are earning with bitcoins or not.

[madwica]

I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.

[Natalim]

I think bitcoin has no tax yet since the bitcoin is not government regulated but bitcoin has fee and it is very little than other in online trnsaction. And i like the things in bitcoin now free to earn and lesser fees.

It's actually the benefits of using bitcoin so we can avoid taxes, here we do not pay taxes unlike in our business in real life and even if we are just a simple employee we are still oblige to pay taxes impose by the government. Since I knew bitcoin, it already gave me a chance to earn and the good thing is that I can maximize my earning here.