Do Bitcoins have Tax??

[FaucetRank.com]

There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.

[Bitcoinsummoner]

There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.

Here in my country there is no tax we are just withdrawing here without any payment unless if you are transferring money into your bank accounts..
I think in your place i heard that bitcoins users in india are paying large fee everytime they are buying bitcoin because of difficulty from the banks..
I just heard it few months ago when the banks crisis pop up in my email.

[Babayega31]

There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.

There is no tax in my country right now because bitcoin has no bank in my country for crypto currency but government collected taxes through online wallet website which has an options of bitcoin to fiat currency convertion and for cash out transactions online for only one bank withdrawal. Nowadays only one bank in my place is accepting bitcoin cash out using egivecash option for atm machine withdrawal and the transaction is very fast and convenient.

[Positid]

There is no tax in India on Bitcoin but we pay service tax when we convert fiat money to Bitcoin and Bitcoin to fiat. We hate this extra charge on Bitcoin. Maybe Bitcoin can be taxed in other way too in future. Maybe Government will ban Bitcoin in future if Govt faces any kind of problem with Bitcoin.

There is no tax in my country right now because bitcoin has no bank in my country for crypto currency but government collected taxes through online wallet website which has an options of bitcoin to fiat currency convertion and for cash out transactions online for only one bank withdrawal. Nowadays only one bank in my place is accepting bitcoin cash out using egivecash option for atm machine withdrawal and the transaction is very fast and convenient.

It's not the bank who are accepting bitcoin, there's an agreement between your local exchange and the bank where you cash out your money. Bottom line, they are just transaction using fiat, your local exchange funded your withdrawal in fiat so you can withdraw when you convert.

[Pattart]

i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.

I think bitcoin even though the government adopted in the future. then the tax system for bitcoin could never be enforced, as you can see that bitcoin anonymous, how to impose a tax to users bitcoin?

[JANGKRIK BOSS]

i think bitcoin have do not tax because bitcoin is not approved by any government and but i think one day we will be pay bitcoin tax and i hope that all government will be adopt the bitcoin because nowadays bitcoin is very much popular and acceptable in anywhere for online shopping.

I think bitcoin even though the government adopted in the future. then the tax system for bitcoin could never be enforced, as you can see that bitcoin anonymous, how to impose a tax to users bitcoin?

Yes it seems so, if there is a tax levy, the Government certainly has to make special regulations and of course automatically accept bitcoin as one of the legitimate means of payment. And as long as there is no specific rule about bitcoin, surely will be regarded as a commodity.

[bravehearth0319]

Bitcoin can never have tax ever, only have charge in every transaction that we are going to make in the trading sites. But not on this matter itself of course.

[p_linz]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

[NEWGOODOUBLE]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

true. The tax on bitcoin will never be implemented into bitcoin, although the government is trying to implement. then it will never work for bitcoin

[warwar]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

true. The tax on bitcoin will never be implemented into bitcoin, although the government is trying to implement. then it will never work for bitcoin

I agree and I think we are paying tax from it upon exchanging it to our own fiat and withdraw it that is the time the tax exist ! While if your money is in bitcoin yet then there is no tax literally ! And lets hope that the government will not put tax on it but I think they will put tax on it if it is very popular soon and most of us using it

[tanarif]

Probably the same rules as Apple holding its profits offshore - when you change it back into your local currency, you pay tax on it.

[equator]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

true. The tax on bitcoin will never be implemented into bitcoin, although the government is trying to implement. then it will never work for bitcoin

I agree and I think we are paying tax from it upon exchanging it to our own fiat and withdraw it that is the time the tax exist ! While if your money is in bitcoin yet then there is no tax literally ! And lets hope that the government will not put tax on it but I think they will put tax on it if it is very popular soon and most of us using it

It is true that holding bitcoin is not taxable only the fiat transaction are under tax and even the traders who are buying through fiat currency , they also have to show the trades in the tax as you have used fiat currency to buy and sell the bitcoins so it is taxable. I think it is not wrong to show in tax until it is not declared illegal in any country, because if you are showing in tax it become legit way of trading.

[KennyR]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

true. The tax on bitcoin will never be implemented into bitcoin, although the government is trying to implement. then it will never work for bitcoin

As quoted the taxation over bitcoin will not be effective compared to the other transaction. Only based upon the transaction taxes might get levied. More countries fear of legalizing bitcoin just because of the taxation issue.

[Xester]

Bitcoins has no tax. But after I read some books pertaining bitcoin and the government there are ways wherein bitcoin can be taxed. Bitcoin usage cannot be taxed but the moment we exchange bitcoin into cash through escrow company a part of it goes to tax but we only see service charge. If we purchase things using bitcoin to a friend then it has no tax but if we purchase to a registered company items using bitcoins, the tax is embedded in the value. And so though not directly   some of our bitcoins transactions are already taxed without us knowing.

[whizter]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

[VeneVici]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

This fee isn't really necessary. You can pay it only if you wish and as much as you wish: you can go even with 1000 satoshis which is under $0.0088 at the moment if you don't need a fast-confirming transaction. The websites usually show that "it might never get confirmed" but I think it will, but after a much longer time. For paper wallets that wouldn't hurt me - they can get confirmed even in one month, I want to store them for a long term.

[socks435]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

This fee isn't really necessary. You can pay it only if you wish and as much as you wish: you can go even with 1000 satoshis which is under $0.0088 at the moment if you don't need a fast-confirming transaction. The websites usually show that "it might never get confirmed" but I think it will, but after a much longer time. For paper wallets that wouldn't hurt me - they can get confirmed even in one month, I want to store them for a long term.

I think you are wrong they are talking about the tax means its a fee for government tax.. a fee you are talking about is a fee for transaction sending bitcoin to another bitcoin address and i think you can not pay a fee with 1000 sat it takes a long time to receive much better to set your fee from default in 50k sat per kb.. so that you can't experience problem for your transaction..

[Tanic]

I have heard that in Russia are going to appear a new law that controls bitcoin already this spring. They will fix in that law the obligation to pay taxes for bitcoin users, the same kind of taxes as business mans pay from their profit.

[QuestionAuthority]

Bitcoin has not taxes implemented. Bitcoin has fees for the transactions and those go to the miner, that mind the block your transaction is in. Using bit you will still have to pay taxes, but they are not implemented in and never will be.

yes that is a fact tat still there is no tax on bitcoin, actually mostly taxes are collected by the government and government applement tax on those items which are legalize, as still bitcoin is not a legalize currency therefore there is no rax on bitcoin and when it will become a legal currency then government will be thinking to put tax on it,

What in the hell is a fact tat or a government applement tax and how can you be sure there's no rax on bitcoin? Drugs can kill you dude. Be careful.

[Ezeber]

if you dont share the information of you having bitcoin to the government and dont convert it to fiat, you wont have to pay any taxes on the amount of the asset you have. Buy directly with bitcoin and you should be good. Newegg.com accepts bitcoin. have fun