do i have to pay tax on bitcoins ?

[Maesters1-]

No tax to pay here in my country only fees for transaction. .and i hope someday they dont ask for a tax for bitcoins that can affect also our transaction fees to increase..

yes it depend on the policy of a country, if a country has imposed tax on bitcoin then you have to pay otherwise bitcoin is tax free in most of the areas as most of the countries has yes not yet consider bitcoin as legal currency.

[Superbitzz]

i think it depend on your country policy, if your country impose tax on bitcoin then you really have to pay tax on it but for this your country must have to declare bitcoin as a legal currency first.

[fatima zuhra]

if you country has imposed tax on bitcoin then you have to pay tax on it, otherwise there is no tax on bitcoin there is  only transaction charges and nothing else.

[omer_parvez]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

[Superbitzz]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.

[RodeoX]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

What country do you live in that does not tax bitcoin?

[ipanks]

i think bitcoin will be our secret property and government do not know anything if we have bitcoin and i think there is no tax on bitcoin as long as we withdraw our bitcoin with localbitcoin or our friends that have selling and buying bitcoin for their daily jobs.

the government will check into your bank account if there any activity that seem illegal and ask you where do you get those money, but as long as you only make small withdraw at least in just $100, i think it will be safe for you.

[thisappointed]

I think paying taxes when you're using bitcoin is just for bitcoin investors, buyers, and miners, it is according from the article that I've read a month ago because this question have already asked by someone that's why I still remember my answer on that question, though some transaction in bitcoin have taxes also but it will automatically deducted on your account or maybe to a certain network if I'm not wrong.

[equator]

It is upto which country you are living , if your country have some rules on bitcoin then i think their will be some tax law of using bitcoin, but like my country where still their is no clue on bitcoin, so we dont have to pay tax on bitcoin as we are not showing anything in tax law. But if we want we can take bitcoin as shortterm profit and pay taxes but that will also be in problem if in future bitcoin is considered as illegal, then it will become that we were doing illegal work using bitcoin.

[crairezx20]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.

Yeah there is no tax in bitcoin and only fees for transaction you should pay unless if you are using online wallet like coinbase that do not need to pay for transaction fee..

[virasog]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.

Yeah there is no tax in bitcoin and only fees for transaction you should pay unless if you are using online wallet like coinbase that do not need to pay for transaction fee..

However, if your experience over the past year with Bitcoin has put two brand new cars in the driveway, then you are going to have to deal with the taxes.  Either way, watch your paper trails and keep your head down. There is a storm coming.

[darety1]

One of the reasons people use bitcoins is that you don't have to pay any taxes. The government cannot ask anything because it has no control on bitcoin. The great plus of Bitcoin is its decentralization.

[bestluck]

If your government approve bitcoin as a legal currency for the use of your state then yes you will pay the taxes and you will care about all the rules which a government will make for bitcoin and if they will not approve then you are free with them for any use without any tax.

[jaweria khan]

it totally depend on your country policy if your country have impost tax on bitcoin then you certainly have to pay tax on bitcoin otherwise it is free of tax every where.

[lucki777]

it totally depend on your country policy if your country have impost tax on bitcoin then you certainly have to pay tax on bitcoin otherwise it is free of tax every where.

yes i also agree with you, that if you country has impose tax tax on bitcoin then you have to pay tax other wise there is no tax but it is also a fact that still very little number of state have impost tax on bitcoins may be yet not a single country.

[Maesters1-]

thank you very much for al of your responses and i really do appreciate this because i was really curious about the  taxation because its a punishable crime to not pay the taxes so i guess i am now satisfied and will liquify more money and turn in to bitcoin cause hey its tax free and who wants to pay taxes

What country do you live in that does not tax bitcoin?

i think most of the countries have no tax on bitcoin, and the reason is that bitcoin is not yet legalize by any state and there is no poly of any country to impost tax on illegal items, and therefore there is no tax bitcoin in most of the countries.

[Clement Kaliyar]

if i am earning a good number of bitcoins i am entitled to pay tax in the form of online income in my tax returns and it is madatory to fill in the details regarding it. Since i am not earning any monatory gains at the moment i am not including it in my returns

[Hoor]

if i am earning a good number of bitcoins i am entitled to pay tax in the form of online income in my tax returns and it is madatory to fill in the details regarding it. Since i am not earning any monatory gains at the moment i am not including it in my returns

i think that is not you are paying tax, you are just paying service charges, tax is only collected by the government, and government only collect tax on legal things, as bitcoin is not a legal currency therefore government is not collecting tax on bitocin.

[Bavarian Illuminati]

If you convert your bitcoin to the fiat and then you should pay the tax since you are literally making profit by convert your bitcoin to fiat, however it's depend on which country you live due to rules and regulation of each country is different. Unless you don't need to pay tax when you hold your bitcoin on your wallet or transaction with them.

[bastw055]

if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.