Should governments allow people to pay their taxes in Bitcoin BTC?

[blackhawkeye1912]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

That is not good actually if you pay taxes, here in my country every time there is a transaction that I wanna make, I only pay for the fee then that its. But in your place I think the government in your place they to implement the segwit so that if that happen everything will centralize so they can control anything in bitcoin, but for now its only a speculation and impossible to be happen. Cross fingers

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[ilovefeetsmell]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

NO, I shouldn't. Bitcoin is decentralized and you earned bitcoin without paying any taxes. The benefits from using bitcoin include fast and efficient payment worldwide, low fees for transactions, and low risks of fraud.There is some risks operation using our bitcoin. Firstly, due to the new economy and essence of bitcoin, the price of bitcoins unpredictably fluctuates. Bitcoin is no exception, but it will just make things more complicated. Possibly Government will get interested in you and they will ask you for additional taxes for your bitcoin that you use or that you earned.

[Oilacris]

I dont think so that people would pay their taxes on bitcoin since most of users of it do really save up bitcoin and they dont like to use it at all because we do know the value of it does really increase overtime and i dont think that government would allow this thing because for sure they will collect fixed rates which they could able to get on local fiat.

[ethereumhunter]

i don't think that i want to pay the taxes on bitcoin, i think its enough for us to pay the government from our money to pay the taxes and i think the government is already make a big profit from people taxes and i don't think that bitcoin user is agree to do this. but we can do nothing if the government want to make regulation for bitcoin taxes and we only obey what they want.

[dunfida]

i don't think that i want to pay the taxes on bitcoin, i think its enough for us to pay the government from our money to pay the taxes and i think the government is already make a big profit from people taxes and i don't think that bitcoin user is agree to do this. but we can do nothing if the government want to make regulation for bitcoin taxes and we only obey what they want.

True,we cant do anything if our government would impose regulations regarding on paying taxes thru bitcoin but speaking of this regulation they wont really such make thing and people will surely not obey this for sure and the question is how government would trace up the citizens who uses bitcoin?

[Sadlife]

First of all the government wouldn't even do that that's basically admitting that they've given up in there fiat currency and decided to invest in a decentralized digital crypto-currency. We all know that governments wants a centralized platform.
How will they know who pays who? And if bitcoin will be used in the future as world wide currency banks will get bankrupt and the existence of debt will ceast to exist.

[Monnt]

I dont think so that people would pay their taxes on bitcoin since most of users of it do really save up bitcoin and they dont like to use it at all because we do know the value of it does really increase overtime and i dont think that government would allow this thing because for sure they will collect fixed rates which they could able to get on local fiat.

If bitcoin has to survive and makes its way to different countries of the world so, I think this is its need to demand the government of different countries to do this for their user who are using bitcoin according to their country rules and policy. The main disadvantage of the bitcoin is tax evaluation which is the main barrier for it proceed further and become the global currency for the whole world like dollar is right now.

[ASHLIUSZ]

Paying taxes with bitcoin is not a big deal, because governments won't easily accept bitcoin as payment or premium. Only after strong analytical as well reliability testing only governments approve it. If governments accept, no need to think of the anonymity because governments already knew our identity. Upon our convenience we select bitcoin or Fiat that's it.

[diegz]

Paying taxes with bitcoin is not a big deal, because governments won't easily accept bitcoin as payment or premium. Only after strong analytical as well reliability testing only governments approve it. If governments accept, no need to think of the anonymity because governments already knew our identity. Upon our convenience we select bitcoin or Fiat that's it.

I doubt if government would allow us to pay bitcoin in our taxes. They need something that is easily being handled by those in the tax division. Just think of it, what if the wallet where your payment was stored was hacked, it would be another burden for the government to trace it and if traced it will be hard for them to use it, except if majority of the people is using it and their economy is alive because of it.

[szpalata]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

For convenience sake I would have preferred to pay my taxes with Bitcoin if my government accepted that as a medium of tax collection. It also come with less fees compared to other fiat payment systems.

[DoublerHunter]

Of course yes, Governments should allow people in their country to pay their taxes in Bitcoin (BTC) because it is more practical than the tradition because we know that bitcoin is only in the internet so it can save time in paying taxes because it can be done anywhere because we just need an internet and device to use our bitcoin and pay our taxes.

[Xester]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

That is not good actually if you pay taxes, here in my country every time there is a transaction that I wanna make, I only pay for the fee then that its. But in your place I think the government in your place they to implement the segwit so that if that happen everything will centralize so they can control anything in bitcoin, but for now its only a speculation and impossible to be happen. Cross fingers

What is the relationship of the government and segwit, it has no relationship at all. Even if the government will allow bitcoin to be used in paying taxes and other government services like Switzerland does it does not mean that the government will push through Segwit.  If we talk about the government placing taxes in bitcoin it is already happening today already, the exchangers that we use to trade money to bitcoin and vice versa is paying taxes to the government and that is included in the fees that we give to the site.

[deisik]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

That is not good actually if you pay taxes, here in my country every time there is a transaction that I wanna make, I only pay for the fee then that its. But in your place I think the government in your place they to implement the segwit so that if that happen everything will centralize so they can control anything in bitcoin, but for now its only a speculation and impossible to be happen. Cross fingers

What is the relationship of the government and segwit, it has no relationship at all. Even if the government will allow bitcoin to be used in paying taxes and other government services like Switzerland does it does not mean that the government will push through Segwit.  If we talk about the government placing taxes in bitcoin it is already happening today already, the exchangers that we use to trade money to bitcoin and vice versa is paying taxes to the government and that is included in the fees that we give to the site

It is even more than that

In countries where Bitcoin operations (like selling or buying bitcoins) are not outright prohibited or where the government doesn't just turn a blind eye to Bitcoin's very existence, you are obliged to pay taxes by default. I mean whenever you earn profits from such operations (in a certain period of time, say, within a year), you have to declare your income and pay the income tax. It doesn't even matter if they are going or really able to catch you when you choose to go for tax evasion, your liability to pay is still set by the law

[coinplus]

Paying taxes with bitcoin is not a big deal, because governments won't easily accept bitcoin as payment or premium. Only after strong analytical as well reliability testing only governments approve it. If governments accept, no need to think of the anonymity because governments already knew our identity. Upon our convenience we select bitcoin or Fiat that's it.

Not only that, but you forgot the fact that bitcoin is not controlled by the government that means that the price won’t change how they want it to be and the price is pretty unstable, so making people paying taxes with bitcoin which is the government’s way of making money is ting the whole economy of the country by a thin thread to the bitcoin’s future.

Taxes and bitcoins are completely two different systems. Still, providing people to give more options to pay taxes including bitcoin payment system would be a great idea imho.

[Jemzx00]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

For me, this doesn't make sense at all, in a way that you are paying your tax with a cryptocoin. If you can cash your bitcoin, then why not cash it out and pay your tax. Its like your paying your tax with something that is just the same worth. Why complicate things? Just let them be.

[bravehearth0319]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

I never encounter that so far since I started using bitcoin. Just all I wanna do is I just convert my bitcoin then every transaction that  I made there is charge fee but no taxes charge.

[Ravion]

Of course yes, Governments should allow people in their country to pay their taxes in Bitcoin (BTC) because it is more practical than the tradition because we know that bitcoin is only in the internet so it can save time in paying taxes because it can be done anywhere because we just need an internet and device to use our bitcoin and pay our taxes.

If a large portion of the population were using Bitcoin exclusively then they would start looking for ways of collecting taxes that way. But why would people want to pay taxes with Bitcoin? Paying taxes with Bitcoin means that the government would know everything about the account holders. The main reason why people started to use Bitcoin in the first place, is to avoid paying taxes and to keep the government out of financial transactions.

[deisik]

If it was an option in your country, would you pay your taxes with Bitcoin?

Or would that not make any sense to you at all, especially if you hold BTC as an asset whose value you hope to see increasing over time...?

I personally pay my taxes with EUR and will probably continue to do so even if I can pay with BTC

For me, this doesn't make sense at all, in a way that you are paying your tax with a cryptocoin. If you can cash your bitcoin, then why not cash it out and pay your tax. Its like your paying your tax with something that is just the same worth. Why complicate things? Just let them be.

That may make some sense after all

For example, when you receive the bulk of your income in bitcoins (e.g. run a Bitcoin casino). In that case, you would have to exchange your bitcoins to fiat first, and that would be complicating things quite in line with what you yourself just said. Further, converting bitcoins would inevitably cause you to pay some percentage to an exchange for the exchange itself as well as withdrawal of the proceeds (apart from risking your coins due to possible hacks and scams). As you can see, there are use cases when paying taxes directly with Bitcoin could be perfectly justifiable and convenient

[Bee Leb07]

I think Governments should allow people to pay their taxes in Bitcoin BTC. Now a days Bitcoin has become very popular and a interesting matter for all the people all over the world. So, i think Government should allow to pay their taxes in Bitcoin. For this reason, it will be so comfortable as well as helpful for the people. And slowly Bitcoin can be a legal forum if the governments of all the countries will accept their taxes in Bitcoin BTC.

So, from my view, it is yes.

[Kollor]

I think Governments should allow people to pay their taxes in Bitcoin BTC. Now a days Bitcoin has become very popular and a interesting matter for all the people all over the world. So, i think Government should allow to pay their taxes in Bitcoin. For this reason, it will be so comfortable as well as helpful for the people. And slowly Bitcoin can be a legal forum if the governments of all the countries will accept their taxes in Bitcoin BTC.

So, from my view, it is yes.

That would be hard, and implementing such rule would just make a confusion among people that has both fiat and bitcoin. We have to consider too that we want bitcoin as freedom, so for government to hold bitcoin, that is already a violation, and what if they use it to manipulate the price of bitcoin? In simply holding most of what they got then dumping it when the price doubled, voila!! instant money.