chaser15
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February 11, 2017, 03:21:56 PM |
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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
We are experiencing that now although much cheaper than usual. Bitcoin exchanges have different fees and that's what Im consider a taxable thing. Also goverment will surely not like the idea of using bitcoin being paid to taxes. Taxes from people are on the spot will be held and used to fund government projects. At most of the transactions that government do, they are paying in fiat to fiat payment. |
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South Park
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February 11, 2017, 10:10:52 PM |
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Not sure why so many people are against having this option? If the government allows taxes being paid with Bitcoin, that doesn't mean that they gain any control over Bitcoin in any way. So I'd say yes and on top of that, I think one Swiss city is already accepting Bitcoin to pay for government services. Source: http://www.coindesk.com/swiss-city-bitcoin-payments-government-services/Many are against the idea for many reasons, for example why pay with bitcoin that allows me to earn some money once in a while through appreciation of its price when I can pay with fiat that is always depreciating in value. |
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ilovefeetsmell
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February 12, 2017, 11:43:06 AM |
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It is not necessary to pay taxes via bitcoin. Our bitcoin is convertible into fiat. Few countries have outlawed Bitcoin. Because bitcoins are being treated as assets, if you use bitcoins for simple transactions such as buying groceries at a supermarket you will incur a capital gains tax.
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szpalata
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February 12, 2017, 01:25:35 PM |
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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 the sake of joining queues at the bank and going through a whole lot of bureaucratic procedures then sitting behind my computer and paying with Bitcoin will be easy and I will gladly opt for that option if it was possible in my country. |
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Superways
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February 12, 2017, 02:24:00 PM |
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If the governments will allow the use of bitcoin for their state as legal and will implement its use in their institutes and in their banks then they will also allow the use of bitcoin in their state to pay the tax as it will be then like a normal currency.
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Carmen_Sandiego
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February 12, 2017, 02:27:39 PM |
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I think that if governments decided to adopt this measure, people would come to realize that governments recognize Bitcoin as a currency, and this could make many people stop using fiat currency. This could be something that goes against the interests of governments, since with fiat currency they have a greater control over the economy and over taxes. With Bitcoin, people would have the choice to pay taxes or not, and many individuals would choose not to pay it.
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digaran
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February 12, 2017, 02:38:26 PM |
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Welp in my country we don't pay taxes like EU, US and other countries, but we rather first get paid $14 per month/person as subsidy and then they charge our bills 3 folds  . and if they are smart enough they would've start accumulating as many coins as they can to control the market of btc in future. |
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margarete11
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February 12, 2017, 02:46:12 PM |
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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
Of course I will gladly pay my taxes in bitcoins if this will make me more convinient and will help me to lessen personal presence and do more with my time more productively! I believe if it will be excuted propely many people will pay their tax on time because it will become fully automated |
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babsalt1975
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February 12, 2017, 02:50:29 PM |
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Paying taxes with BTc will not be feasible at all. Taking into consideration the volatility that is experienced currently, we will be on the lsoing end if we were asked to pay taxes in form btc. This requires a currency which is stable and not prone to volatility the way btc is.
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PacePay
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February 12, 2017, 03:02:36 PM |
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No the governments do not want to accept bitcoin for paying the tax because bitcoin is not accepted by the governments and do not regulate it for any of their state affair. You need to continue to pay the tax in your fiat and need to wait for the time when bitcoin will be accepted by the governments.
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LFC_Bitcoin
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February 12, 2017, 03:04:08 PM |
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I wouldn't pay my taxes in bitcoin because bitcoin is more valuable to me than fiat but governments should incorporate bitcoin into their tax payment systems sure, they want money don't they? Bitcoin is money.
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olubams
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February 12, 2017, 03:36:11 PM |
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If it was an option in your country, would you pay your taxes with Bitcoin?
Or would that Iot 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 think we don't need to get ahead of us to that level because you can't place something on nothing but if the we have the case of government coming with that policy in which in I am sure people will comply, then they should also look for way to plug and guide against tax evasion and in which case i dont think there is room for that at all. Then they will have no option than to go the route of self assessment in which compliance is always low in every part of the world... |
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loreykyutt05
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February 12, 2017, 03:37:38 PM |
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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
Yes of course if that will be implemented that will be very good to a country because most of the people here are so busy so they cant go directly to the office to pay their own taxes if bitcoin will be implemented it will save time and will be convinient to many taxpayers worldwide! |
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vennali
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February 12, 2017, 03:39:58 PM |
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I dont think it will happen anytime soon. Each country has its own currency and doesnt allow its citizen to pay tax in any other currency. The same way I dont think thay will allow to pay the taxes in Bitcoins. It might happen in the future when bitcoin is widely accepted and mainstream. One could then suggest their government to accept BTC. As of now, I dont think it will happen anytime soon.
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realm
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February 13, 2017, 01:14:18 AM |
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If you income comes from fiat money I see no point in paying with btc. On the other hand if you are earning bitcon it would be nice to use it in your daily life, such as paying taxes, and so would I. On the goverment's side, they would probably start toaccept it only once it get's less volatile and of course you can prove it's source. If I were a governor I would be eager to introduce it to my monetary system, more money means more taxes for me.
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SpiritOfLife
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February 13, 2017, 01:18:06 AM |
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bitoin mus be legal payment processor or legal currency before this is happening.
i think its something imposible to make goverment accept bitcoin.
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Vaskiy
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Tontogether | Save Smart & Win Big
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February 13, 2017, 01:31:48 AM |
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Governments won't initiate steps to provide bitcoin as a payment for the taxes. Legal acceptance is a big factor that is more important when it gets used in a public service. Its better that someone could use it as a service paying government in the form of fiat getting payment in bitcoin.
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positivezero
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February 13, 2017, 04:06:33 AM |
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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
Governments won't allow like this, if they do this then it would really mean that they accept already bitcoin in their government. Also i think government would never establish or launch this kind of rule. Since government won't accept bitcoin for taxes, maybe i will keep my bitcoins, and just use it buying things through online or you may replace your bitcoin to fiat to pay your taxes |
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Dudeperfect
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February 13, 2017, 04:24:13 AM |
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I have already paid it in bitcoin. Don't get surprised but there is a tax called 'service tax' in my country which is levied on the consumers using taxable services. When I buy or sell bitcoins using such service (For example Unocoin), they charge me 15% amount on the transaction fees on behalf of the government for the service of the exchange. So technically I have already paid my taxes in bitcoin. * Reference : Unocoin Fee Structure. |
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phr0stbyt3
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February 13, 2017, 04:44:17 AM |
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What would you pay your taxes with a valuable currency like bitcoins. The reason for this is because most of us have purchased bitcoin so that when the price increases we get a profit. Bitcoin is a not a currency for heaven's sake. And also if there wasn't any bitcoin would you pay you tax using gold ?? No right..
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