Do Bitcoins have Tax??

[RodeoX]

There are no tax on bitcoins as no one control the bitcoins there is no questions of tax. However small transaction fees will always required as it will be the only income for the service provider.

Nope. Almost every country in the world requires some kind of tax on bitcoin.

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[1Referee]

yes that is right but to me i think there is no tax on bitcoin because the governments have not yet recognize bitcoin as legal currency, therefore they cannot put tax on illegal currency. i think they will put tax on bitcoin when they will put tax on it.

Governments don't have to recognize Bitcoin as legal currency in order to charge tax. It's actually very simple, it basically doesn't matter where you put your money into. Whether it's you having a certain amount of your wealth in oil, Gold, Bitcoin, paintings, cars, etc, it doesn't matter. What matters here is that all of the mentioned add up to your wealth. Over your total wealth you have to pay a certain amount of tax, which of course differs per country/state. Same goes up for when you sell all before mentioned with profit. Then once again you are subject to the tax policy that is set up by your local government. No way to escape unless you don't declare any of your Bitcoin holdings.

[freemanjackal]

one of the characteristics of bitcoins is anonymity, so how could the goverment prove that i am the owner of some amount of bitcoins. thats one of the characteristics that bitcoin will keep, no matter the usage that people can give to it(it is not good or bad just depend of how people use it and that can never be controlled), it is like saying that it cant be used some technologies casuse could be used in improper ways.
rigth now the tx fees in my opinion are some kind of tax, and they will increase in the future because will be the main source of income of miners( rigth now blocks rewards)

[GMPoison]

one of the characteristics of bitcoins is anonymity, so how could the goverment prove that i am the owner of some amount of bitcoins. thats one of the characteristics that bitcoin will keep, no matter the usage that people can give to it(it is not good or bad just depend of how people use it and that can never be controlled), it is like saying that it cant be used some technologies casuse could be used in improper ways.
rigth now the tx fees in my opinion are some kind of tax, and they will increase in the future because will be the main source of income of miners( rigth now blocks rewards)

They can't keep track. I don't know how they plan on doing so. I'm sure you've heard of the IRS vs Coinbase issue going on, they're trying to obtain the records of Coinbase users to be sure no one was evading taxes.

[Herbet Fry]

Bitcoin only have vat if you convert too much of it to fist at once to often. You will habe to explain to recover of revenue where all this westh is coming from. So buy what you need in bitcoin and only cash out small amounts of it and you should be fine.

[the.jack20]

It can not be taxed as a bitcoin structure. It can not be taxed because it is a system that is not under the control of the states. It is also an anonymous system, so which account is unknown to whom. It is not possible to get a special tax on this person.

But you are paying taxes when transferring your bank accounts from the stock exchanges to the USD. There are transaction limits that each country has established. If you exceed these transaction limits, you must pay taxes.

[DebitMe]

It can not be taxed as a bitcoin structure. It can not be taxed because it is a system that is not under the control of the states. It is also an anonymous system, so which account is unknown to whom. It is not possible to get a special tax on this person.

But you are paying taxes when transferring your bank accounts from the stock exchanges to the USD. There are transaction limits that each country has established. If you exceed these transaction limits, you must pay taxes.

Since you are talking about USD, I assume you are referring to the United States.  Well here is some helpful information, your entire post is wrong and FUD.  The IRS has pretty clearly explained how bitcoins should be taxed.  Please do not spread information you know nothing about.

[whizter]

The government will never have a power to tax a bitcoin transactions because It was a decentralized system it have a Transaction fee but it's too low that you cant even feel it , those fees will go to the miner who process your transactions

yes that is right but to me i think there is no tax on bitcoin because the governments have not yet recognize bitcoin as legal currency, therefore they cannot put tax on illegal currency. i think they will put tax on bitcoin when they will put tax on it.

but still government may still be thinking how to find way to impost tax on bitcoin. may be they turn bitcoin for the purpose of to impose tax on it. but i think still it will take some more time to turn bitcoin as legal currency .

[jackshephard]

Depending on your location and exact country, for example in the US nobody is going to say pay us these taxes while holding a paper BUT you have to make sure you are the one compliant, and if they find out you are not "Bank TX's or anything suspicious you can't explain"...

[stadus]

The government will never have a power to tax a bitcoin transactions because It was a decentralized system it have a Transaction fee but it's too low that you cant even feel it , those fees will go to the miner who process your transactions

yes that is right but to me i think there is no tax on bitcoin because the governments have not yet recognize bitcoin as legal currency, therefore they cannot put tax on illegal currency. i think they will put tax on bitcoin when they will put tax on it.

but still government may still be thinking how to find way to impost tax on bitcoin. may be they turn bitcoin for the purpose of to impose tax on it. but i think still it will take some more time to turn bitcoin as legal currency .

We could not discount that possibility, it can happen, they see the growing community of bitcoin and that means income to them. They are gonna tax us as they started to regulate big exchange sites already by directing them to comply with the KYC policy, the next thing will happen is for them to determine our income and tax us accordingly.

[Zadicar]

The government will never have a power to tax a bitcoin transactions because It was a decentralized system it have a Transaction fee but it's too low that you cant even feel it , those fees will go to the miner who process your transactions

yes that is right but to me i think there is no tax on bitcoin because the governments have not yet recognize bitcoin as legal currency, therefore they cannot put tax on illegal currency. i think they will put tax on bitcoin when they will put tax on it.

but still government may still be thinking how to find way to impost tax on bitcoin. may be they turn bitcoin for the purpose of to impose tax on it. but i think still it will take some more time to turn bitcoin as legal currency .

We could not discount that possibility, it can happen, they see the growing community of bitcoin and that means income to them. They are gonna tax us as they started to regulate big exchange sites already by directing them to comply with the KYC policy, the next thing will happen is for them to determine our income and tax us accordingly.

It is already happening now on which government are  trying to impose  or implement regulation on some exchanges related to tax which means we do really be affected specially to those people who always buying and using those exchangers. Government cant impose taxes on bitcoin directly thats why they are seeking another way.

[daylox]

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

[diegz]

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Well, no need to tax bitcoin, coz one way or another we will be exchanging our bitcoin to fiat. Most probably that is one reason why bitcoin is not being taxed by some countries yet. I do believe that bitcoin will be taxed by the government if it is considered as its property and the use of it is being regulated by them.

[Viscore]

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Well, no need to tax bitcoin, coz one way or another we will be exchanging our bitcoin to fiat. Most probably that is one reason why bitcoin is not being taxed by some countries yet. I do believe that bitcoin will be taxed by the government if it is considered as its property and the use of it is being regulated by them.

What we are trying to discuss here is to determine the proper tax based on the type of income we are making, if this will be converted to fiat and we are not tax on our income with bitcoin, most probably we are paying like VAT for the products and services we avail. I guess the government does not want that as there are different tax depending on how to classify it and they have different rates.

[20kevin20]

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Well, no need to tax bitcoin, coz one way or another we will be exchanging our bitcoin to fiat. Most probably that is one reason why bitcoin is not being taxed by some countries yet. I do believe that bitcoin will be taxed by the government if it is considered as its property and the use of it is being regulated by them.

That is not called a tax. Exchanging from Bitcoin to fiat or vice versa is not mandatory, you can only do it if you want. Otherwise there's no implied tax in it except the transaction fees, which again, are not mandatory. I consider taxes the amounts you have to pay on a regular period, like every month. Bitcoin is still not taxxed and/or controleld by govs.

[ReLieD]

If you are asking just about Bitcoin , like taking it just as a crypto currency,
then there is no nax. Infact have you heard of any currency having tax ?
But if you go to make payments , obviously there will be tax , like if there is no tax ,
how will the government work.
Also it depends on your country. As far as i know not all countries accept Bitcoin
as a currency even.
So it depends on the scenario of your surroundings.

[TastyChillySauce00]

It depends on which country do you live, some countries tax on bitcoin revenue, like USA, but some countries don't tax, like China. In the future, if bitcoin is defined as money in most countries, it means that government will tax it.

Taxing on bitcoin is not just when it's defined as a currency or official money, as for example In U.S.A bitcoin is considered as a property, therefore, it's taxed. But in my opinion, the money itself never taxed by the government but the things which are taxed by the government is your wealth not matter you're saving it up in which form.
If you ever curious about how the taxation in USA against bitcoin works, go here : https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance

[Chikito]

My country has a duty as a supervisory exchange tax every bitcoin exchange with original currency will be charged a hefty memberatka

[nikilavi]

It's depend from country to country and theirs laws.

In mine, we have to pay tax only if we buy from a person living in my country. So mostly it isn't a strict law to actually pay but most of them never pay. And also there is only tax if we purchase 20 bitcoin or more on a single day so many people just purchase 19 bitcoins daily.
Some of us buy it with Paypal to hide it. There are laws but aren't so strict if we purchase with credit card or bank transfer no tax.

[Rishabh riyz]

It depends upon the country you are inhabitants of.
There are no taxes on bitcoins if you keep them in your wallet but if you want to do transaction or payment with it then their will be taxes on it
Government cannot just directly put taxes on bitcoins transactions.
Yeah but in some countries they can