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Question: Would you pay taxes with BTC if you could?
Yes! - 26 (38.2%)
No! - 34 (50%)
Undecided! - 8 (11.8%)
Total Voters: 68

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Author Topic: Should governments allow people to pay their taxes in Bitcoin BTC?  (Read 5518 times)
instacalm (OP)
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February 10, 2017, 05:42:36 PM
Last edit: February 10, 2017, 05:54:32 PM by instacalm
 #1

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

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Vaccinus
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February 10, 2017, 05:54:43 PM
 #2

there are services which let you pay in bitcoin, you know about cashila and bitbill.eu? i don't need the approval of the government to use them, just pay the fee and you are welcome

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February 10, 2017, 06:01:35 PM
 #3

It's not more along the lines of if governments should I would say if governments will, if they really see a reason that bitcoin has such a hold on them not being paid for a good amount of tax funds and that if it will really make a difference in the amount of revenue they have they will adjust. The government will adapt and change if need be, they won't just do it for the greatness of everyone else.

They should, but they only will if it makes a difference to THEM not to you in the least.

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calkob
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February 10, 2017, 06:37:09 PM
 #4

I wouldnt personally pay my taxes with bitcoin as i think it is still way undervalued and when i look back in years to come i will regret letting my bitcoin go for stupid shit .... like vitalik butterin spent like 8 bitcoin on a tshirt back in the day, and there is probably worse stories than that ie:Pizza ...... lol  Wink 

i do think that others should be able to tho if they chose
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February 10, 2017, 06:55:14 PM
 #5

For me, It doesn't make any sense or doesn't sound any difference between paying in fiat or in bitcoin. Taxes will always be charged in terms of dollar, EUR and even if you can pay with bitcoin you have to pay according to bitcoin market rate. So there is no difference between paying with bitcoin.  Roll Eyes

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February 10, 2017, 06:57:12 PM
 #6

If you pay your taxes in Bitcoin, they would immediately ask you to pay taxes on your Bitcoin too!
Working out your taxes on your Bitcoin is/will be a pain in the ass, so I would rather just pay my taxes with fiat and not have the IRS snoop into my Bitcoin affairs!

I don't see any advantage to using Bitcoin for paying your taxes anyway.
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February 10, 2017, 07:01:18 PM
 #7

If it was an option in your country, would you pay your taxes with Bitcoin?
Definitely yes! Oh wait,what if the prices of bitcoin rise and I end up paying way more than I should have ?

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 can propose a solution.When government would accept bitcoins,I'm sure they will take care of the price differences.
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February 10, 2017, 07:02:42 PM
 #8

I hope it never happens. Think of all the "know you customer" crap we have now, It's hard to buy bitcoin without getting a anal probe. Think how it will be if the state is the one collecting.
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February 10, 2017, 07:09:11 PM
 #9

I dont particularly like getting rid off my bitcoin and even less so to the government. You could compare it to paying the government taxes in gold rather than fiat which i wouldnt want to do either. Let them have their paper money =p

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February 10, 2017, 07:10:34 PM
 #10

I do not think this is going to happen.
But if a government would really do so, I would appreciate it.
The important thing would be that a government recognizes bitcoin as a legit way to make a payment. Even to the authorities.
This could give bitcoin big support in that country.
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February 10, 2017, 07:21:51 PM
 #11

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 will not pay with bitcoin, why I would volunteer that information to the government of the country in which I reside? Then they will know that you at least own that address and then they could begin to try to link transactions and other addresses back to you, it is  a bad idea since it defeats the purpose of trying to reach anonymity with bitcoin.

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February 10, 2017, 07:36:31 PM
 #12

This is clearly a contradicting idea to begin with, and paying your taxes with btc doesn't do any advantages or whatsoever except for saving time in going to the bank/government offices or whatnot. Also, there already exists some services in which you would be able to send btc to pay for your taxes and the rest would be done by that service.

I wouldnt personally pay my taxes with bitcoin as i think it is still way undervalued and when i look back in years to come i will regret letting my bitcoin go for stupid shit .... like vitalik butterin spent like 8 bitcoin on a tshirt back in the day, and there is probably worse stories than that ie:Pizza ...... lol  Wink  

i do think that others should be able to tho if they chose

Putting your name in history is not really stupidity to begin with.

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February 10, 2017, 07:41:11 PM
 #13

For something like this to happen Bitcoin should be fully regulated how else could governements allow paying taxes in Bitcoin. So,Bitcoin should be a part of economy and tax system and fuly integrated in finances. At this point I Don't see how this could happen in the near future or ever.

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February 10, 2017, 07:45:57 PM
 #14

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/

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February 10, 2017, 07:56:23 PM
 #15

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/

The swiss have a government of the people. Something the rest of the world don't have.
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February 10, 2017, 08:11:15 PM
 #16

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/
Switzerland is taking rapid steps than the rest of the world as they recently announced that it would begin offering bitcoin through Swiss rail operators ticket kiosks which is a major step and i wont be surprised with this decision .Personally i would not want to pay my takes in bitcoin since the volatile nature of bitcoin makes me think twice on doing so.

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February 10, 2017, 08:12:03 PM
 #17

If the government would allow it I would use bitcoins without hesitating because this would save me time and transaction fees and not to mention all my past transactions will be on the ledger for proof of receipt for a long time.
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February 10, 2017, 08:28:47 PM
 #18

Nah it will be too much of a hassle for them to deal with cryptos and they will need a Bitcoin payment processor to convert to fiat as they receive transactions so all in all a pretty inconvenient idea. Why don't we just use the most convenient way which is the cash we have at hand?
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February 10, 2017, 08:37:01 PM
 #19

Nope. I prefer to keep my fiat related financial situation and Bitcoin operating on whole different levels. I have no interest in ever doing such a thing, nor do I think other people will. Other than that, it simply doesn't make any sense for the government to do so. If you for example pay your owed amount - which happens to be $1000, and after that the price plummets, the government will then swallow a loss. I am sure they are not looking forward to do so.
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February 10, 2017, 08:49:14 PM
 #20

You can do this already in a couple of Swiss cantons can't you? It sounds like a dismal idea to me but if people want to do it then go for it. I can't imagine they'd be happy recruiting a third party to handle the conversion so it's not going to happen.

But why pay tax in something that should carry on rising. Far better to pay it with something becoming increasingly worthless.
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