Do Bitcoins have Tax??

[mornabo]

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

I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat

[1713624434]

1713624434

[1713624434]

1713624434

[1713624434]

1713624434

[agamasrori]

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

I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat

Yes I think so. Taxation on bitcoin is not easy because the user is readily know. Britain and europe have been trying to provide clear rules on companies that fall within the scope of virtual currency such as exchange of virtual currency by minimize the anonimity of people who using the services of these companies.

[GMPoison]

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

I think when you convert bitcoin to fiat you will be charged a fee. for the amount fee it will depend on each exchange that you use.
but it is not a tax by the government when you convert it to a fiat

Yes I think so. Taxation on bitcoin is not easy because the user is readily know. Britain and europe have been trying to provide clear rules on companies that fall within the scope of virtual currency such as exchange of virtual currency by minimize the anonimity of people who using the services of these companies.

You would think they would only tax you if you're exchanging btc for fiat or fiat for btc, but apparently miners in the usa have to recognize the coins at their value the day that they were mined and pay taxes on them. How they plan on enforcing that one I have no idea.

[Vasilije69]

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

[roadbits]

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

It's not income tax, and it will not go to the government. It's just a transaction tax means in which you will exchange your bitcoin to fiat currency they will take a commission in the form of tax that's it. If it has tax, then the Bitcoin will become legal currency. But it is not legal currency why because there is no income from Bitcoin to governments.

[Fityan]

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

It's not income tax, and it will not go to the government. It's just a transaction tax means in which you will exchange your bitcoin to fiat currency they will take a commission in the form of tax that's it. If it has tax, then the Bitcoin will become legal currency. But it is not legal currency why because there is no income from Bitcoin to governments.

that's right,i think trade between local currency to bitcoin have no tax,its not a tax,but fee. and op known that bitcoin have no tax,it only have fee transaction,and its run to blockchain server,i mean for who take over blockchain. 

[stadus]

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

I never experience such, when I think of exchanging my bitcoin to fiat I only need to sold my bitcoin with the current price. There was never a time that I paid taxes for exchanging to fit, and I think this will be the best benefit of using bitcoin to be tax free. Despite of that, I am still not confident this will continue as our government is already looking to tax our transactions with bitcoin, and until the law is not yet published we continue to enjoy the tax free system.

[Theo123]

So far there is no tax, but i think some people who willing to be the bit trader will eventually make tax for you, just like my local's number provider.
example: google play pricing around 129idr but the provider taxing u and the invoice u got is around 130idr. thats the way it work!

[Fatanut]

Yes, they do have. When you change them for local currency, you need to pay tax. Size of tax deppends from country...

I never experience such, when I think of exchanging my bitcoin to fiat I only need to sold my bitcoin with the current price. There was never a time that I paid taxes for exchanging to fit, and I think this will be the best benefit of using bitcoin to be tax free. Despite of that, I am still not confident this will continue as our government is already looking to tax our transactions with bitcoin, and until the law is not yet published we continue to enjoy the tax free system.

Do you have any link for a credible website to support that claim? The government don't own all of the bitcoins in regulation, they can't tax it. Just like how people avoid paying taxes in fiat, there would always be a way to do that in here as well, assuming that the government somehow successfully are able to implement tax in bitcoins.

I think the "tax" that the other guy was talking about is actually the fee that you pay for when you convert your bitcoins into fiat and transfer them to your bank account.

[1Referee]

So far there is no tax, but i think some people who willing to be the bit trader will eventually make tax for you, just like my local's number provider.
example: google play pricing around 129idr but the provider taxing u and the invoice u got is around 130idr. thats the way it work!

That has nothing to do with the tax that governments apply. It's just the company in question taking its cut by offering you a certain service. It's called a fee. Governments can only make you pay tax when you declare your holdings and profits in a honest manner. If that doesn't happen, then the governments don't stand a chance. That's why they have changed their approach on how to deal with this matter. They now target exchanges to force them to release user information. From there they can more or less calculate how much tax you owe to the government. Sad reality.

[KennyR]

Bitcoin doesn't have tax, but based upon the transaction happening within accounts taxes will be levied. Also on just based upon this issue there are countries that make strict regulations for the bitcoin usage within the country.

[hajimasan]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

[BitHodler]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

[TastyChillySauce00]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

Obviously right. Even if you don't want to pay tax by taking advantages of the decentralised system but when you're going to buy some goods then you will indirectly give tax in your bills
Although paying tax is not always bad for your economy because if you want to just live in peace without being chased by the police, just do what you're obligated to do

[BitHodler]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

Obviously right. Even if you don't want to pay tax by taking advantages of the decentralised system but when you're going to buy some goods then you will indirectly give tax in your bills
Although paying tax is not always bad for your economy because if you want to just live in peace without being chased by the police, just do what you're obligated to do

Sure, I understand the importance of tax, but we together pay an exorbitant amount of tax already.

Even to such a level, that it nearly looks like theft from the governments. That's why I don't understand why in certain occasions people can't be exempted from paying tax.

We have already paid a significant amount of, why do we still have to pay tax over the money we already paid tax over. Even if you want to donate a certain amount of money to your family you have to pay tax.

[Liad.Services]

Bitcoin doesn't have any taxes,because they are not considered as real money at most of the countries.

But you do need to pay the miner about 10c per transaction in order to get your transaction confirmed fast.

but 10c is nothing, as if u are making a bank transfer you are going to pay a lot more.

[pinkpanther03]

It's not the Bitcoin that is taxed. There is no tax on dollars for example, but if you are earning, or disposing of capital assets, then you may be liable for taxes. If you take a car in lieu of payment, then you still may have to pay tax.

Exactly, Bitcoin obviously don't have any taxes at all because it is a digital currency or like the real money. Unless the government itself will give the by laws about in bitcoin, and if that happen that's not good for the bitcoin enthusiast like us for sure.

[stadus]

It's not the Bitcoin that is taxed. There is no tax on dollars for example, but if you are earning, or disposing of capital assets, then you may be liable for taxes. If you take a car in lieu of payment, then you still may have to pay tax.

Exactly, Bitcoin obviously don't have any taxes at all because it is a digital currency or like the real money. Unless the government itself will give the by laws about in bitcoin, and if that happen that's not good for the bitcoin enthusiast like us for sure.

We can only be taxed if we convert that into fiat, for now the government is still in the process of making rules on how to treat our income and transactions online in the crypto world. Although this is not still regulated but the government will always find a way to earn from us as well.

[Amph]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

if you just hold and never use your bitcoin, then you are not taxed, even in the USA i beliebe this is the case

as long as you don't use your coin or do trading to acquire more, if lucky, you are not obliged to pay any tax

this is certainly true in europe, i don't know if in america they have changed the law for crypto

[Factmine]

NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.

It should be like that, but unfortunately the opposite is true.

You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country.

If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think.

if you just hold and never use your bitcoin, then you are not taxed, even in the USA i beliebe this is the case

as long as you don't use your coin or do trading to acquire more, if lucky, you are not obliged to pay any tax

this is certainly true in europe, i don't know if in america they have changed the law for crypto

Generally holding is indeed non-taxable. Unless you realize some profit then you are not liable to pay for taxes. When you profit you have to pay for income taxes to you government. Hence if the prices of bitcoin went up after you bought the coins then sold it, you are liable for income tax. Another tax would be tax on the use of bitcoins, if your government taxes the use of bitcoins that is a separate tax compared to income tax.