do i have to pay tax on bitcoins ?

[Wong Kalong]

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?

Pay or not it depends on your country. If indeed in your country are required to pay tax on Bitcoin yes you have to pay. But if in your country the Government does not issue any regulation about Bitcoin, yes you do not need to pay taxes. So whether in your country Bitcoin has been legalized?

[1715494526]

1715494526

[1715494526]

1715494526

[1715494526]

1715494526

[alinda]

Most of the countries are yet to form a regulatory body when it comes to cryptocurrency and ico's but when it comes to tax, they do come up with an early solution for this.Decentralized currencies need to have a decentralized land free of crypto tax

[Fantastic33]

Bitcoin doesnt have a tax, but there are fees that you need to pay when making any transactions such as when you wanted to convert your btc to fiat, or you want to cash out some of your bitcoins. Like here in the philippines, the bureau of internal revenue has not yet issued clear guidelines on tax treatment on bitcoin transactions. But i think one day they may impose tax on those who gain huge profit from bitcoins.

[1jaffa1]

Bitcoin is not an official currency. That is, most countries still require you to pay income taxes, sales, payroll, and capital gains tax on anything that has value including bitcoin. It is your responsibility to ensure that you comply with any other tax and legal rules or policies issued by your government and / or policy makers in your area.

[brontosaurus]

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 ?

Dude, I think you forgot to mention a very important particular about yourself!! Which country are you from!!??

The policies, laws, rules and regulations are different in every country and taxation on bitcoin is a part of the governmental policy. These policies regarding taxation on bitcoin are not uniform throughout the world. So you may confirm this whether your bitcoin transactions in your country attract taxation.

[maarx]

I would be happy to pay the tax to my government if they accept bitcoin. Its not yet announced either as legal or illegal. It seems talk is going on creating its own crypto currency along with other business man creating his own crypto currency forming a team under his own son and working on it. I wish the government should take a quick decision to adapt bitcoin to growth its economy as well provide employment to its citizens.

[DeadCoin]

I would be happy to pay the tax to my government if they accept bitcoin. Its not yet announced either as legal or illegal. It seems talk is going on creating its own crypto currency along with other business man creating his own crypto currency forming a team under his own son and working on it. I wish the government should take a quick decision to adapt bitcoin to growth its economy as well provide employment to its citizens.

If your government permits then yes it's necessary to pay tax on bitcoin.  Good move.  It's at last the government who decides upon its citizens' growth. And yes they know when and where to get things done.  So better pay the tax for what's earned.  This would enrich the country as well as the citizens.

[Irvinn]

We need to know the legislation of our country in relation to the crypto currency, including whether it is necessary to pay taxes for its use and, if so, in what cases and in what amounts. Usually for tax evasion, if the amount of unpaid amount is large, criminal liability is established. Therefore, everyone has to decide whether to pay taxes and quietly sleep, or not to pay and be under pain of criminal prosecution.

[Spaffin]

To pay or not to pay taxes for crypto currency, under what circumstances and in what amount, depends on the country of your residence. Each state establishes its own rules and its size of payment of taxes and it is impossible to discuss anything here without knowing the country of your residence. However, if the state introduces a profit tax on operations with crypto currency or a capital gains tax from the fact that the current currency of your crypto currency has grown in value over the past year, then such a tax will still have to be paid if you do not want to live under the fear of criminal responsibility for tax evasion.

[btcmegastar]

Everything depends on the country you are living because of some governments still, not accepting Bitcoin as the payment option. So even though if you taxes on returns will comfortable because you will be in safe hands when they start legalising the Bitcoin.

[tactac]

In Japan, we have to pay tax in the following cases.
① in case of profit by trading
② in case of profit due to purchase goods by crypto currency
③ in case of profit due to swap cryptocurrency to anothercrypto currency
④ mining
tax rate is 15%～55％！

[crisanto01]

Since here in our country we are not required as our government does not mandated law yet regarding taxing bitcoin or cryptocurrency, so we are not obliged and we don't have an obligation in doing it, but if our law will require as to do it, then I would be  happy to do it.

[imsotiredofmoviereboots]

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.

[valera10]

Such questions should be asked in the civil code. Since each country has its own laws and rules regarding cryptocurrencies.

[goaldigger]

In what country do you live in ? It depends on the countries regulation for bitcoin. Like mine, There are no taxes yet nor law declared that bitcoin will be considered as an asset or a capital that will be taxed. Other countries banned bitcoin and others just consider it as capital and get taxed from it. What country you belong ?

[zhekinsp]

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.

Still you have to pay income taxes for your earnings from crypto currencies because all transactions were done through bank accounts so our profits also will be recorded here,if your earnings is small from crypto currency investment then you are free but for the people who do trading in large amount or cashout the bitcoin huge will have to pay taxes.

[gruad]

Literally yes, the taxes are countries instruments for self-sustainment and payment of pensions.

But every treasury certainly lucks the blockchain transparency.

[Glenn Techincs]

It seriously depends on what country are you from, mate. Each of them has its own regulations, somewhere it is even banned

[kaizerblitz]

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.

[makolz26]

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.

It is so important to know the rules of our own country as we should not be ignorant with our own laws because for sure our government were strict when it comes to tax compliance and there is no way for us to tell that we don't know rules since it is our obligation to know about it.