Tax enforcement of Crypto in 5 Countries

[Flyne d Coin Digger]

I think this will greatly decrease the prices of cryptos.

This few lines got my attention after reading your thread. I have to inform you that tax gives a product or service some legitimacy and the people who are made to pay the tax have some level of confidence in that. So, the move will even get more investors and price will improve better.

The tax payment won't have an affect on the crypto price I believe...
And if investor are willing to pay taxes based on what have they earned then government don't have a reason to ban them on some countries...

[1715042227]

1715042227

[1715042227]

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[christysmile]

I think this will greatly decrease the prices of cryptos.

How so? If they decide to tax it then all people from those countries will dump their crypto and run to... fiat? Fiat is taxable as well. Gold? Can't hide it so easily. Houses in Somalia? Too risky...

These governments will never know that individuals from those countries have crypto until they say so. Or possibly if they trade on exchanges in those countries (technically no, but I wouldn't be surprised if the tax auditor came after you with records of all trades). Or bank activity. Any deposit into an account in any of those countries is reported instantly, no matter where it comes from.

[Oliveir]

If the government impose tax then we need to abide also but they should have also block chain to properly calculate the tax we will be paying... Since verbal way of saying what's the range of your income, other may lie about their money....

[Greenkarki]

These five countries are forced their people to pay tax and this is good news to everyone. Because collecting tax for crypto will leads the economic growth of the country. Once the tax collected means then people wont use it for illegal purpose. People are ready to invest  bitcoin due to its huge profit. So the tax enforcement for cryptos will be very useful for the economic growth.

[BeeRoach]

We need easy and low taxes, that way people won't be willing to avoid paying them and the goverments will earn more for taxation. High taxes will make people avoid them and flee to other countries.

[Hedda Gabler]

Tax enforcement authorities from Australia, Canada, the Netherlands, the United Kingdom and the United States have have came together to form a Joint Chiefs of Global Tax Enforcement to tax the cryptocurrency. I think this will greatly decrease the prices of cryptos. Read More: https://shuftipro.com/blogs/international-tax-body-curb-cryptocurrency-based-tax-evasion/ What you suggest?

Maybe it will decrease but this is normal tax policies as everyone in the world are paying tax from fiat earnings so i think it shall be the same in Crypto currencies earnings too. This is the consequence if we want Bitcoin will be declared legal in a central country in which it will require every citizens to pay Bitcoin tax as income tax but this is no issue to me as long as the Bitcoin users will be fully protected specially from the scam investments.

What makes you think we will be protected at all?

I still haven't got my money back from the CoinsMarkets thugs who robbed everyone.