Bitcoin and paying Tax

[skyway1]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

[tabas]

the government has no right to tax that is not provided by their laws. Cryptocurrency has an indefinite status in the state. It is therefore not subject to tax

They have the rights since they are the one who is controlling the society of a country and they can just simply create a law that can shape out and regulate the usage of bitcoin and even put tax with it. And for sure, if the government will see that they have a chance to get some profit from taxing crypto currency, they will.

[gabmen]

the government has no right to tax that is not provided by their laws. Cryptocurrency has an indefinite status in the state. It is therefore not subject to tax

They have the rights since they are the one who is controlling the society of a country and they can just simply create a law that can shape out and regulate the usage of bitcoin and even put tax with it. And for sure, if the government will see that they have a chance to get some profit from taxing crypto currency, they will.

Well it will be very hard to regulate and impliment this as well because we all know that what separates crypto from other currencies is it's anonymity and privacy. It may take a very long time before governments can manipulate crypto like fiat

[dunfida]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

They cant  really  get   tax from  bitcoin  because   its  not regulated  by the   government  and   hence   they  cant   considered  bitcoin    because  it cant be  controlled  by anyone   thats  why  they didnt recognize it.  Thats  the   goodness  of   bitcoin because we do have full control  of our  money without   the  notice of   the government and  they cant  impose  tax from  us.

[deisik]

the government has no right to tax that is not provided by their laws. Cryptocurrency has an indefinite status in the state. It is therefore not subject to tax

They have the rights since they are the one who is controlling the society of a country and they can just simply create a law that can shape out and regulate the usage of bitcoin and even put tax with it. And for sure, if the government will see that they have a chance to get some profit from taxing crypto currency, they will.

Well it will be very hard to regulate and impliment this as well because we all know that what separates crypto from other currencies is it's anonymity and privacy. It may take a very long time before governments can manipulate crypto like fiat

This doesn't change a thing in the end. They can just make it taxable, and voila, you are obliged to pay the tax. If you don't and don't intend, then you are going for deliberate tax evasion, which may be a criminal offense in many countries. If you got caught red-handed, you will be penalized and most likely made into a criminal with all ensuing consequences...

And someone will surely end up exactly like that

[Oceat]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

That is right. When the bitcoin is allowed to pay the tax, the bitcoin can be regarded as official currency.

[Sanekavg13]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

That is right. When the bitcoin is allowed to pay the tax, the bitcoin can be regarded as official currency.

that's for sure, if the government sets taxes on Bitcoin, he will be as uninteresting to many as the rest of the currency. And many people want to be anonymous when using Bitcoins

[MONKEYJUNK]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

[arseaboy]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

Indeed mate. We are tax free here in bitcoin community. But if we're going to convert it into cash and purchase something then it will be taxable. And I'm really not hoping that soon there will be a tax already in bitcoin community.

[mirakal]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

Indeed mate. We are tax free here in bitcoin community. But if we're going to convert it into cash and purchase something then it will be taxable. And I'm really not hoping that soon there will be a tax already in bitcoin community.

Honestly, I earn more money here compared to my day job.. In my day job I need to comply with the rules of the company as they deducted tax directly to my salary and I am just like receiving 75% of my gross pay, while in here, my earnings is 100% given to me. I don't mind the transfer fee it's cheap.

[planfox]

I am convinced that we should not pay tax on income from this forum. Firstly, it is not so big to be taxed, and secondly Bitcoin and other cryptocurrency, which is on the forum is not regulated by the government.

[deisik]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

While I certainly agree that spending heaps of money on expensive items such as condos or houses will likely cause suspicion and questions from the tax collecting agencies, especially if you don't have a handsome official income, but the taxes themselves might not be your primary concern then. Since you will have to prove first that you didn't receive the money through some criminal activity, before you come to pay the taxes. And with Bitcoin you will have a hard time proving that...

Even if Bitcoin itself is perfectly legal in your jurisdiction

[Rmaqks]

I think if the government decides to levy taxes on Bitcoin, for many it will be a very bad news. In addition, it lost part of Bitcoin, even under the threat of such operations will be anonymous

[Babayega31]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

Indeed mate. We are tax free here in bitcoin community. But if we're going to convert it into cash and purchase something then it will be taxable. And I'm really not hoping that soon there will be a tax already in bitcoin community.

Honestly, I earn more money here compared to my day job.. In my day job I need to comply with the rules of the company as they deducted tax directly to my salary and I am just like receiving 75% of my gross pay, while in here, my earnings is 100% given to me. I don't mind the transfer fee it's cheap.

That' true we earned money with our daily job but government obliged us to shar taxes to them on our payroll salary. Compared with bitcoin earnings government has no regulations to collect taxes from it we earned full with it without any deductions and we enjoyed in full. Bitcoin is really an advantage for me as well as parallel earning together with my current job.

[X-ray]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

Indeed mate. We are tax free here in bitcoin community. But if we're going to convert it into cash and purchase something then it will be taxable. And I'm really not hoping that soon there will be a tax already in bitcoin community.

Honestly, I earn more money here compared to my day job.. In my day job I need to comply with the rules of the company as they deducted tax directly to my salary and I am just like receiving 75% of my gross pay, while in here, my earnings is 100% given to me. I don't mind the transfer fee it's cheap.

if you just given such a good service in exchange of paying taxes it's worth it,unlike in developing countries which giving bad service to their citizens even their citizens had been paid all the taxes,luckily if you were living in a developed country,the money you spend for the taxes is worth it

[Zadicar]

You can hide money using bitcoin or other cryptocurrency but when you buy a house for example, you will have to tell from where this money comes from, so government will tax you, there's no way to run.

Indeed mate. We are tax free here in bitcoin community. But if we're going to convert it into cash and purchase something then it will be taxable. And I'm really not hoping that soon there will be a tax already in bitcoin community.

Honestly, I earn more money here compared to my day job.. In my day job I need to comply with the rules of the company as they deducted tax directly to my salary and I am just like receiving 75% of my gross pay, while in here, my earnings is 100% given to me. I don't mind the transfer fee it's cheap.

if you just given such a good service in exchange of paying taxes it's worth it,unlike in developing countries which giving bad service to their citizens even their citizens had been paid all the taxes,luckily if you were living in a developed country,the money you spend for the taxes is worth it

It do really  depends  on which  country   do you  live  in and  on which  kind  of  government   does it have.  If you live on a country which  do  have a  corrupt  officials then  for sure the tax of people  would surely come to waste  unlike   to those  government  who handle  the tax  in to good  motive. Back to topic, i dont  think government  would able  to collaborate with bitcoin  hence  its   decentralized and  cant be  controlled  by anyone and  also  exchanges do have  fees  on each transaction  but  its  not a  tax.

[elyas772]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

that's like what i feel in my country, NO tax in bitcoin mining and trading, but the fee of withdraw is like tax in my country.
the regulation for small bussines must pay fixed 1% from his total transaction, and exchanger at my country take 1% fee for each withdraw, it's seem like tax too :/

[BuySomeBitcoins]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

that's like what i feel in my country, NO tax in bitcoin mining and trading, but the fee of withdraw is like tax in my country.
the regulation for small bussines must pay fixed 1% from his total transaction, and exchanger at my country take 1% fee for each withdraw, it's seem like tax too :/

which country is this ?

[Xester]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

They cant  really  get   tax from  bitcoin  because   its  not regulated  by the   government  and   hence   they  cant   considered  bitcoin    because  it cant be  controlled  by anyone   thats  why  they didnt recognize it.  Thats  the   goodness  of   bitcoin because we do have full control  of our  money without   the  notice of   the government and  they cant  impose  tax from  us.

yes, no one can control the price of bitcoins that's why it is hard to impose tax on bitcoins, one of the main reason was other countries are considering bitcoins as illegal, its a good thing that they can not add additional expenses to bitcoin user by adding tax on our transactions. but once that the government have recognize bitcoins, i'm sure tax will be added soon.

[deisik]

bitcoin no paying tax any tax because bitcoin is not recognised by any government and i think we will be pay tax on bitcoin if bitcoin approve by any government and i think then they apply the tax on bitcoin.

They cant  really  get   tax from  bitcoin  because   its  not regulated  by the   government  and   hence   they  cant   considered  bitcoin    because  it cant be  controlled  by anyone   thats  why  they didnt recognize it.  Thats  the   goodness  of   bitcoin because we do have full control  of our  money without   the  notice of   the government and  they cant  impose  tax from  us.

yes, no one can control the price of bitcoins that's why it is hard to impose tax on bitcoins, one of the main reason was other countries are considering bitcoins as illegal, its a good thing that they can not add additional expenses to bitcoin user by adding tax on our transactions. but once that the government have recognize bitcoins, i'm sure tax will be added soon.

What does the control over Bitcoin price have to do with imposing taxes on Bitcoin operations or Bitcoin itself? In all important countries such as the US, the EU, China, etc Bitcoin is recognized and legal, so what countries are you talking about where Bitcoin is considered illegal? Further, it is not required to tax Bitcoin specifically since it can already be taxed according to its classification, for example, as a financial asset in the US or a means of payment in the EU...

You seem to be a perfect candidate for reading this thread