Do Bitcoins have Tax??

[agamasrori]

no , i don't see there is rule from government about bitcoin tax because in my opinion each tax need a government rule

Yes I agree, government is not tax it, but some people in here were said that bitcoin transaction fee is a tax, i think they were wrong, the transaction fee is for minner becouse they help the transaction.

[Positid]

no , i don't see there is rule from government about bitcoin tax because in my opinion each tax need a government rule

Yes I agree, government is not tax it, but some people in here were said that bitcoin transaction fee is a tax, i think they were wrong, the transaction fee is for minner becouse they help the transaction.

Compared to the real tax you have to pay, it's more cheaper as it does not base on the amount you will transact. Government will only tax exchange sites but the clients like us are not tax but we pay of the trading fees or transfer fees from trading site to our wallet and somehow we can all it tax.

[staff_1307]

For Bitcoin not have to pay taxes because the government has no right to claim your saving.

[frankmb]

There is no direct tax here in the Netherlands, you can hold as many bitcoins in a wallet as you like, only when it's converted to fiat it becomes taxable at around EUR 2500.

[rajasumi2]

It totally depends on which place u are in .well if u are from india , i can tell if u are transacting 2.5 lacs per year then u dont have to pay taxes otherwise more than that u have to show to them and pay taxes .kudoos

[youdacapt]

Until now, there are no state laws that regulate bitcoin taxes, I feel free of this, upss

If tax has been in effect since bitcoin already legalized one day, it doesn't matter because all public access could use bitcoin. There is always an admission tax for welfare. The best way if it happens, collect bitcoin as much as possible from now on.

[n0ne]

It totally depends on which place u are in .well if u are from india , i can tell if u are transacting 2.5 lacs per year then u dont have to pay taxes otherwise more than that u have to show to them and pay taxes .kudoos

As quoted depending upon the country you reside, users were supposed to pay tax in respect to the transaction made through various services. Governments can just tax users by this means and miners gets the transaction fee.

[dearbesz1219]

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??

So far at the present time now, bitcoin don't have have any taxes in this kind of bitcoin industry. Only they get charge for every transaction of all the community we had it in bitcoin world.

[bitcoinisbest]

The taxation policy of each country varies and particularly OP will need to mention which country he would like to know.

Like for our country if for certain income its tax free and if you cross that then there are slab wise % of tax. Accordingly profits you earn from bitcoin and personal income needs to be clubbed together and accordingly you will have to pay tax.

[kidoseagle0312]

If we are going back to the meaning of bitcoin, it is decentralized peer to peer currency, Therefore, bitcoin has no tax in every transaction but only charge fee for every transactions.

[carlfebz2]

If we are going back to the meaning of bitcoin, it is decentralized peer to peer currency, Therefore, bitcoin has no tax in every transaction but only charge fee for every transactions.

This is true since its been written on the whitepaper of bitcoins project on which its been created to make decentralized p2p transactions and this is the most accurate answer for this. So it means it doesn't really have tax and its impossible to impose tax on it and no government  could able to do that. That's why they don't like bitcoin and some of them ban it because of this reason.

[RodeoX]

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

[john2231]

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There are a lot of countries that bitcoin is still not yet honored so they don't have choice but to ignore bitcoin even though their citizens are earning good amount with it that's why there are a lot of people who are using bitcoins that are evading taxes because their source is not taxable and that is with bitcoin.

There is no tax only the company or exchange are paying for a tax that is why they are giving a exchange rate not the exact price in in preev price.
In bitcoin we are just paying fee for every transaction but in local exchange like here in my country there is no fee for every transaction this good thing in our wallet.. but i think that company are paying in taxes which is a company that nearly here in my place.. anytime you can go near to them and see the bitcoin atm..  tax only apply if they are asking for a fee for withdrawals..

[richardsNY]

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There are a lot of countries that bitcoin is still not yet honored so they don't have choice but to ignore bitcoin even though their citizens are earning good amount with it that's why there are a lot of people who are using bitcoins that are evading taxes because their source is not taxable and that is with bitcoin.

There is no tax only the company or exchange are paying for a tax that is why they are giving a exchange rate not the exact price in in preev price.
In bitcoin we are just paying fee for every transaction but in local exchange like here in my country there is no fee for every transaction this good thing in our wallet.. but i think that company are paying in taxes which is a company that nearly here in my place.. anytime you can go near to them and see the bitcoin atm..  tax only apply if they are asking for a fee for withdrawals..

Exchanges and other Bitcoin related services do pay tax over their entire revenue and profits translated to the fiat equivalent. They can't hide from the IRS. Most exchanges don't charge you anything when you cash out fiat, so from that point there is nothing they have to pay tax over. That's however not the case with certain services that allow you to buy and sell coins. They mostly charge fees ranging from 1 to 5% per transaction. Over that percentage they have to pay tax.

[lottery248]

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There are a lot of countries that bitcoin is still not yet honored so they don't have choice but to ignore bitcoin even though their citizens are earning good amount with it that's why there are a lot of people who are using bitcoins that are evading taxes because their source is not taxable and that is with bitcoin.

There is no tax only the company or exchange are paying for a tax that is why they are giving a exchange rate not the exact price in in preev price.
In bitcoin we are just paying fee for every transaction but in local exchange like here in my country there is no fee for every transaction this good thing in our wallet.. but i think that company are paying in taxes which is a company that nearly here in my place.. anytime you can go near to them and see the bitcoin atm..  tax only apply if they are asking for a fee for withdrawals..

Exchanges and other Bitcoin related services do pay tax over their entire revenue and profits translated to the fiat equivalent. They can't hide from the IRS. Most exchanges don't charge you anything when you cash out fiat, so from that point there is nothing they have to pay tax over. That's however not the case with certain services that allow you to buy and sell coins. They mostly charge fees ranging from 1 to 5% per transaction. Over that percentage they have to pay tax.

does that mean they could only charge the the fees or taxes in case of exhanging between fiats and cryptos, in a nutshell?


government should reserve bitcoins and altcoins in order to ensure they have sufficient fund to sustain the country instead of simply asking their citizens for the tax.

[Positid]

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

There are a lot of countries that bitcoin is still not yet honored so they don't have choice but to ignore bitcoin even though their citizens are earning good amount with it that's why there are a lot of people who are using bitcoins that are evading taxes because their source is not taxable and that is with bitcoin.

There is no tax only the company or exchange are paying for a tax that is why they are giving a exchange rate not the exact price in in preev price.
In bitcoin we are just paying fee for every transaction but in local exchange like here in my country there is no fee for every transaction this good thing in our wallet.. but i think that company are paying in taxes which is a company that nearly here in my place.. anytime you can go near to them and see the bitcoin atm..  tax only apply if they are asking for a fee for withdrawals..

Exchanges and other Bitcoin related services do pay tax over their entire revenue and profits translated to the fiat equivalent. They can't hide from the IRS. Most exchanges don't charge you anything when you cash out fiat, so from that point there is nothing they have to pay tax over. That's however not the case with certain services that allow you to buy and sell coins. They mostly charge fees ranging from 1 to 5% per transaction. Over that percentage they have to pay tax.

does that mean they could only charge the the fees or taxes in case of exhanging between fiats and cryptos, in a nutshell?


government should reserve bitcoins and altcoins in order to ensure they have sufficient fund to sustain the country instead of simply asking their citizens for the tax.

That's a good move, only if they will even try to consider that bitcoin is going to be able to help to the country's finances. This is possible to happen if a country from the first world will do this initiative and after that the smaller countries will try to do this too and will imitate what's on the trend from the rich countries.

That's too much to ask for them, we are not even regulated and bitcoin is not considered as an asset or commodity like gold is. It should be in a sequential process and we start with the beginning which is being regulated.

[al0729]

bitcoins have no tax , because for me bitcoins is not a company bitcoins can get in internet easily so why do they put in a tax on bitcoins .

[Capradina]

bitcoins have no tax , because for me bitcoins is not a company bitcoins can get in internet easily so why do they put in a tax on bitcoins .

Yeha is indeed for now bitcoin has no mandatory or not to tax. Because for now will only give advantage bitcoin individually and the Government until now has not been able to decide to accept bitcoin in digital currency, so the tax is something that will never be found in the bitcoin. Now that there has been no official policy of most countries that accept bitcoin and if taxes already exist in the bitcoin then automatically bitcoin users more and more and everyone knows it

[jak3]

government has taxes which are said that it is being used by government for your countrys development and in case of bitcoin transactions that is not tax its transaction fees which are payed to the bitcoin miner for verifying the transaction and to mine a new block. taxes are fixed but the amount of mining fees is not.. it depends on your priority

[abel1337]

government has taxes which are said that it is being used by government for your countrys development and in case of bitcoin transactions that is not tax its transaction fees which are payed to the bitcoin miner for verifying the transaction and to mine a new block. taxes are fixed but the amount of mining fees is not.. it depends on your priority

Thats right bitcoin doesnt have tax for now , We only pay for bitcoin transaction fee when we transact . And the good side about it that is bitcoin transaction fee is low if you compared to other payment processors.