do i have to pay tax on bitcoins ?

[chel0]

I think it depends on the country where you are in. If bitcoin is being regulated and being controlled by the government it might ask you to pay taxes in every transactions. In our case, we are not paying taxes since the government is not regulating and controlling it. Anytime, anywhere using our coins.ph wallet we exchange  bitcoin into our regular currency without being taxed.

[1715029771]

1715029771

[icecube45]

It's depends on your country law there regulation of bitcoins and other cryptocurrency i think mostly country they do not know the use of bitcoins and they let it. In my country they are give taxes for those bitcoin exchanger and bitcoin exchange do is to give fee on every bitcoin transactions.

yes in my country too, the profit from the buy and sell bitcoin or bitcoin investment will be taxed, if i not wrong how to calculate the income tax from the investment profit bitcoin is "the difference between the sale price and the purchase price it " is the advantage of investment income tax object. but the need for clear regulation the relevant authorities will make clear whether the bitcoin is taxable or not. It depends on each of your country's regulations

[ricebit7]

I think it depends on what country you from. Obviously, different countries have different regulations. In my country you don't have to pay tax on Bitcoin.

[Saveplus]

As long as bitcoin cannot declared as legal government has no authority to imposed tax on every transactions we've made on crypto.It depends on the country we are living of what rules and regulations they want but here in my country we dont need to pay taxes on it.

[mornabo]

I'm lucky that we don't have those laws regarding with crypto earnings yet so I'm still free to encash as always without worrying any authority to come knocking at my door and oblige me to pay my taxes.

I think sooner or later we will meet that rules dude. I'm sure the government will begin to realize that developing technology is unbearable and cant be stopped? they have to be friendly with bitcoin and take the best advantage of bitcoin. so make a rule about using bitcoin and come up with taxes for bitcoin income and wealth. whatever system will be applied. I think it will happen sooner or later.

[Temujhin]

as far as I know during this bitcoin investment is not taxable. As Bitcoin in the country of Indonesia touted as one of the largest digital currency. indeed all taxable, but the tax payment is the obligation of each bitcoin investor

[palvinta]

so I wanna know do I really have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do I have to care about any legal action by gov on my bitcoin property?

If in your country is required to pay taxes for Bitcoin so inevitably you have to keep paying taxes. Because it means a rule-governed by your country and if you violate it will definitely get sanctioned.

[goldenplak]

It depends on your jurisdiction. Some consider it property, some currency, some don't have rules about it. Your best bet is to lookup some local financial laws; or better yet, if you have a large amount of bitcoin, a lawyer.

[Chegaboba]

Who ?

[darkedelf]

I think. whatever you accept as payment for things or services is usually taxable income if it is definitely exempted. But there is no assessment or tax in bitcoin just the charge for the exchange, that you ought to pay for each exchange. Laws and tax assessment rules change from country to country.

[lokanot0]

In my own knowledge, there is still no country that has made a law to include bitcoin for tax purposes. Before bitcoin can be taxed, the government should first acknowledge it as currency used in that state.

[cryptorocket84]

We don"t pay tax on bitcoin because Government declare's it illegal, but the truth is that we still pay tax on internet connection, office, bank's which we use for withdrawing our Bitcoin, seriously if u ask me indirectly we are paying tax.

[gabmen]

so I wanna know do I really have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do I have to care about any legal action by gov on my bitcoin property?

If in your country is required to pay taxes for Bitcoin so inevitably you have to keep paying taxes. Because it means a rule-governed by your country and if you violate it will definitely get sanctioned.

Well that's right though i don't think there's currently an existing law anywhere about obliging anyone to pay taxes for crypto. I think korea has a law already being studied on how to tax traders but it mat take some time before it can be implimented

[Rooster101]

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?

If your government recognize bitcoin as one of the legal currency in your country and at the same time imposed tax on every bitcoin transaction, then you must follow the law and pay the tax according the law. Failure to follow it might result to some legal problems. Some countries like the United States imposed some strict laws on transaction tax for bitcoin while others imposed some regulations to monitor the transactions of bitcoin exchanges.

[portatifx]

I'm sure not. Because bitcoin is not controlled by any state or international financial institution. Bitcoin belongs to everyone in this world.

[maarx]

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?

Its not necessarily needed if your government has not yet accepted / recognized bitcoin in your country. When bitcoin is exchanged into your local fiat and fiat is spend, you are directly paying tax for any goods you purchase. Thats more than enough.

[BTCeminjas]

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?

Its not necessarily needed if your government has not yet accepted / recognized bitcoin in your country. When bitcoin is exchanged into your local fiat and fiat is spend, you are directly paying tax for any goods you purchase. Thats more than enough.

Yeah, but it depends upon on which country you are. Lucky for those countries did not implement any laws regarding bitcoin or regulations related with bitcoin. Then if your country implemented a law that it is necessary to pay tax then just obey it or else you were might be I jail.
If bitcoin is untaxable then also traders transaction.

[hotimbineh]

until now only countries that have received bitcoin may apply the tax laws in bitcoin by applying a very strict KYC system but so far the taxation system is stunningly good because we get the government's attention in transactions and prospects of governance law bitcoin

[ecnesa101]

In my opinion there is no tax in bitcoin only the fee for transaction that you should pay for every transaction..  but there is online wallet site that you dont need to pay for fees for every transaction ..

[Pattart]

so I wanna know do I really have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do I have to care about any legal action by gov on my bitcoin property?

If in your country is required to pay taxes for Bitcoin so inevitably you have to keep paying taxes. Because it means a rule-governed by your country and if you violate it will definitely get sanctioned.

Well that's right though i don't think there's currently an existing law anywhere about obliging anyone to pay taxes for crypto. I think korea has a law already being studied on how to tax traders but it mat take some time before it can be implimented

from many countries I only hear only united states that tax on bitcoin users. other than that I have not heard it yet. I also don't really understand how the mechanism of paying taxes for traders or bitcoin users? anyone can tell us? my own country also has nothing to do about the rules and tax laws for bitcoin