tax

[wawan99]

in your country income from bitcoin taxed? state the country

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[BitPACK]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

[GrowingCoins]

in brazil there is no taxes for bitcoins.

[iamTom123]

in your country income from bitcoin taxed? state the country

Here in my country, the government is not yet strict on implementing the income tax which is the same thing with any other online income we can get. Maybe they feel that this sector is not yet that big and so we are given more leeway to enjoy the money we can get out of it and just give us the power to declare them or not. There is no guarantee that in the future the government may not be implementing the strict provisions of the income tax law for all citizens regardless if one is offline or online.

Specific to Bitcoin, the exchange provider is not directly adding tax to the transactions but am sure that a certain percentage is being withheld for the government and it is already a part of the amount the buyer is paying for. The government on this instance is treating Bitcoin just like any other foreign currency and we are basing the regulations implemented on the remittance services.

Now, I would say that doing some Bitcoin business here in my country can be smooth and convenient as we can easily convert our Bitcoin just within hours to the local money. We already have the infrastructure for that and I guess there are more coming to the market.

[palle11]

Tax is currently in on paper money, I don't think bitcoin is taxed because it is relatively new I think so. Just few people are knowledgeable about digital currency ,so it is yet to come up.

[cakravothy]

in your country income from bitcoin taxed? state the country

if youre country is ready regulate, bitcoin can pay tax,without regulate bitcoin not pay tax
but you still pay about salary tax, all country whatever youre from income still pay salary tax

[MiF]

in your country income from bitcoin taxed? state the country

Here in the Philippines, our goverment did not declare bitcoin as a legal or illegal so there is no tax to be impose yet because maybe i think at this time bitcoin is not really known in my country. Here in office alone very few of us are engage to bitcoin maybe it needs  two to three years more that bitcoin popularity will arise so that the goverment can possibly benefit to thru tax.

[Don Pedro Dinero]

In my country, Spain, bitcoin earnings are considered as stock market earnings in general. If you earn up to 6.000 € you have to pay 19%, if you earn up to 50.000€ you have to pay 21% and if you earn more than 50.000€ you have to pay 23%.

In some cases, it is interesting to cash out a bit less to pay lower tax. So, let’s say that you want to cash out 8.000€ in November but you are not in a hurry. It is better to cash out 6.000€ and wait a couple of months to cash out the other 2.000€ so you will pay 19% tax instead of 21%.

[kelstasy]

As stated from above so far the government of the Philippines dint impose tax on bitcoin earnings yet, but I believe coins.ph is paying tax.

[michkima]

in your country income from bitcoin taxed? state the country

Income is taxed everywhere! It doesn't matter if you profit from bitcoins or other sources. The fact of the matter is that you need to pay income tax on anything you are profiting from. There are only a few countries that do not charge income tax. So if you profited from your bitcoins through buying and selling then you need to pay taxes on it.

[DyllanGM]

I think we are fortunate here in our country for the moment since the government has not yet imposed tax on bitcoin.  That is why we are enjoying it for the moment because sooner or later,  it will be charged with tax.

[giarised]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

Same is the case in my country as well. Till now, there is no such scene of paying tax for the sake of Bitcoins or the earnings which we are getting from Bitcoins. Bitcoin is so far Tax free business all over the globe and it will remain the same till the time we may not see it to be the legal currency.

[Schuyler]

in your country income from bitcoin taxed? state the country

There are several websites operating as bitcoin exchanges or trading sites in the Philippines, accepting ATM remittances and bank cash deposits. The trading here is most certainly not insured by the Philippine Deposit Insurance Corporation nor regulated by the Philippine Securities Exchange Commission. It would do well for the Bureau of Internal Revenue and the Department of Justice to earnestly study this matter. Considering the risks involved, it will probably be better to invest one’s hard earned currency in something less risky. At this stage, let us face it, if one does not have any bitcoin, there is no reason or necessity to acquire one.

[Blue2012]

in your country income from bitcoin taxed? state the country

There is no tax in bitcoin because it is not regulated by our government. But there is a fee in every transaction you did.

[Astvile]

Still there is no tax in my country from earning or spending bitcoins under the power of the government bank but i have heard some news that central  bank of the philippines is planning to legalized bitcoin and put taxes on it

[commanderbitcoin]

in your country income from bitcoin taxed? state the country

There's no law in our country to get a tax in bitcoin earnings. However once you convert it to fiat, the exchanger automatically include tax in their transaction fee. One of the reason why buying and selling  had a big difference in price.

[shandi albert]

for now it has not been taxed, because in some bitcoin countries it is not a valid payment instrument, and people's understanding of bitcoin has not been widespread.
perhaps in the future the government will make a tax regulation from bitcoin, if it is legalized by government law.

[cellard]

I have no idea yet because I just don't know anything about laws and so on, and im not wealthy enough to hire some consultant which most likely doesn't know anything about bitcoin and let alone other cryptos.

Since I will not be selling anything anytime soon, I will keep accumulating and worry about taxes later on when things are more clear and I feel like selling. As far as I know it's only a problem when you want to sell, like gold, so I will just keep making as much BTC as possible for the time being, I have low stress tolerance and don't want to keep thinking about complex stuff like taxes now. Before BTC I had no idea about anything that had to do with economics and I have only basic education so im learning along the way.

[2double0]

It used to be taxed in Australia but I think that they have also removed it over Bitcoins.
Now different countries are making different frameworks to start taxing Bitcoins in various ways.
The place where I live, I give all the details to my Accountant who manages everything for me by paying small amounts as Capital Gains tax showing Bitcoins as an asset and paying such taxes after showing it as something over which you can make profits is legal, I haven't faced any problems till date.

[Mpamaegbu]

I am from Africa. The idea of Bitcoin has not really caught up with us let alone tax on it. Our government sees Bitcoin as a kind of bubble that can't withstand the test of time. So, the issue of taxation on it does not even come close to discussion. There was a recent incident in my country that a set of mining machines were turned back to the country of purchase because the country's clearing authority did not understand what they were. It is that bad.

[Al Amin]

In my country for now this has not been in kenai.Karena government also has no law for it. And in my country is also still illegal but not banned in using bitcoin

[Compradora]

I am from Africa. The idea of Bitcoin has not really caught up with us let alone tax on it. Our government sees Bitcoin as a kind of bubble that can't withstand the test of time. So, the issue of taxation on it does not even come close to discussion. There was a recent incident in my country that a set of mining machines were turned back to the country of purchase because the country's clearing authority did not understand what they were. It is that bad.

Here we have 26% income tax above $5,000 earnings. The authority and the tax bureau says we have to pay tax for digital transactions too. But nobody pays it and no problem so far.

[alyssa85]

In Britain it's classed as an asset - so you pay capital gains tax when you sell. And teh capital gain is the amount you sell it at less the amount you paid for it.

The first £11,300 of the capital gain each year is tax free. Then you pay tax at your marginal rate - so 20% if you are a basic rate taxpayer.

So as long as you don't sell all at once, and cash out slowly year by year, you don't really pay much tax.

[Gozie51]

for now it has not been taxed, because in some bitcoin countries it is not a valid payment instrument, and people's understanding of bitcoin has not been widespread.
perhaps in the future the government will make a tax regulation from bitcoin, if it is legalized by government law.

Exactly, I think the awareness is still low in some countries and continent for it to lead to taxing. Maybe in the future, that might come up thats if there is approval because you don't tax when you have not approved the usage nationwide.

[carriebee]

for now it has not been taxed, because in some bitcoin countries it is not a valid payment instrument, and people's understanding of bitcoin has not been widespread.
perhaps in the future the government will make a tax regulation from bitcoin, if it is legalized by government law.

Exactly, I think the awareness is still low in some countries and continent for it to lead to taxing. Maybe in the future, that might come up thats if there is approval because you don't tax when you have not approved the usage nationwide.

Yes this means bitcoin in some country has lack its awareness that bitcoin has a tax. Here in my country bitcoin is spreading its usage but no tax has been collecting. Well lets hope that there is no collecting tax in some countries and there will be proper regulation on this.

[AT101ET]

From what I understand, since BTC is seen as an asset here in the U.K., it is only subject to capital gains tax. That means that if over a year timeframe you earn more than £11,100 through trading/selling BTC then you would be subjected to pay tax on those gains.

[soham]

in your country income from bitcoin taxed? state the country

No, not as of now and I am happy with it. My country doesn't give much importance to the bitcoin and that's a good thing for me as well as the fellow bitcoiner like me. Till the time, my government doesn't give a shit about bitcoin, we are good. The moment they start noticing bitcoin as a currency, it will be a doomsday for us.

However, I always declare my income from bitcoin in the tax information form. Whatever I earn from bitcoin during a financial year, I disclose that amount during tax filing under the head "Income from other sources" just to stay safe.

[Emworks]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

[okissabam]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

[Funeral Wreaths]

i guess maybe there are few countries that are requiring people who has bitcoins to pay taxes, I am not really sure about it though. in my country it is not yet well recognized, while some people knew it as some kind of fraud. on the other hand, we are not required to pay taxes in bitcoin, not unless it will be legalized in our country i guess.

[Kevin77]

I am from Africa. The idea of Bitcoin has not really caught up with us let alone tax on it. Our government sees Bitcoin as a kind of bubble that can't withstand the test of time. So, the issue of taxation on it does not even come close to discussion. There was a recent incident in my country that a set of mining machines were turned back to the country of purchase because the country's clearing authority did not understand what they were. It is that bad.

A whole lot of countries are so much going through this phase and it is funny cause if they have been following trend, they should have been able to find a way to utilize it to even benefit the economy. With the mining gadgets being turned back though, that is quite funny. You would not really blame them anyway, cause some government even have no idea on what bitcoin is or how it is generated, let alone, knowing what a mining gadget looks like.

[hpmp]

income or profit are usually taxed, but until one didn't sell crypto to get fiat - there is no income

[eminemcookie]

As far as I am aware in the United Kingdom tax on bitcoin earnings would be treated as capital gains as and when you sell your bitcoin.

[CyberKuro]

As far as I am aware in the United Kingdom tax on bitcoin earnings would be treated as capital gains as and when you sell your bitcoin.

And as far as I know people in US should report capital gains to the IRS, traders who buy and holding cryptocurrency should use capital gain or loss tax treatment on sales and exchanges, with the realization method, in the end capital gain or loss needs to be reported on that transaction based on exchange rate at the time. https://en.bitcoin.it/wiki/Tax_compliance
Most countries doesn't have regulations about cryptocurrency and people could trade bitcoin without pay taxes, it is a double edge sword, as people want bitcoin to be regulated, but they have to report all the income and pay taxes if a Country decide to do it. However, Japan as the first country that has legalized bitcoin has eliminated tax on the sale of bitcoin, https://cointelegraph.com/news/its-official-japan-has-eliminated-tax-on-bitcoin-rise-in-trading-expected.

[AleSergio]

In my country we dont have tax on bitcoin, but we have a tottal tax which we should pay yearly for a tottal income. Also it depends on how much you get money, if it is only 500$ per month, than you shouldnt bother about taxes

[Beicin]

I'm from South America - crypto currencies are not yet regulated, it's kind of a grey area right now, like online gambling (poker, casinos, etc). But at the end you still have to pay taxes on your income, so if you wanna be 100% legal you have to report your crypto gains (as long as you've sold/transfered it back to a bank account i guess). Hope it helped

[Hamphser]

for now it has not been taxed, because in some bitcoin countries it is not a valid payment instrument, and people's understanding of bitcoin has not been widespread.
perhaps in the future the government will make a tax regulation from bitcoin, if it is legalized by government law.

Exactly, I think the awareness is still low in some countries and continent for it to lead to taxing. Maybe in the future, that might come up thats if there is approval because you don't tax when you have not approved the usage nationwide.

Yes this means bitcoin in some country has lack its awareness that bitcoin has a tax. Here in my country bitcoin is spreading its usage but no tax has been collecting. Well lets hope that there is no collecting tax in some countries and there will be proper regulation on this.

Same here in my country on which bitcoin doesnt really have big awareness on its existence here on my country which it cant still be taxed but only to the service which do engage on bitcoin which isnt really bad at all because bitcoin cant really be tax directly this is why most government will surely get tax on those services who do use bitcoin.This is why most governments doesnt really like bitcoin because they can get money out of it and they wont even know if their citizens are already engage on it.

[palle11]

Taxing on bitcoin depends on different jurisdiction. Some countries have barely heard of bitcoin, not to talk of making plans for tax on it. The bitcoin needs to first be accepted before taxing. I'm sure the "third world "countries are yet to understand bitcoin .

[lenovo16]

Exactly the same with the other , in our country Bitcoin is not yet well known. Only those online engage persons are knowledgeable about this digital currency. And I hope our country could not notice this Bitcoin so that they will not charge it with tax.

[Nerman]

I am from the republic of the Philippines, as of now we do not have any kind of tax in cryptocurrency and i really hope that it stay that way  . I personally think that it will be hard to tax any gain from cryptocurrency investment specially if your wallet is a hardware unless you will be honest and declare it.

[zzSunZZ]

In my country, there is no tax for Bitcoin at all, cause they are not the legal method payment and they are not illegal too  ( cause the law said, you can do anything if it's not prohibited). So the goverments can't tax something that isn't legal at this moment.
But they are trying to do it with their best. First step, they are trying to control the Bitcoin's transaction without a knowledges that noone can control Bitcoin transaction at all. So the draft solution of them for now is just focus on some guys who has a huge property crypto currency in my country , and make them become the first one who will pay the tax for Bitcoin.
By the way, in my country, Bitcoin can't by anything so i guess they can't tax Bitcoin at all cause it's make no sense.

[NewBet]

Individual countries are going to need to figure out some way to tax cryptocurrencies otherwise they are going to see huge declines in income each year going forward. It is that simple.

[tengek37]

in your country income from bitcoin taxed? state the country

Not taxed because my country bitcoin is not recognized as currency, but when I make a withdrawal or transaction there is always an additional fee charged, whether it can be referred to as taxes?

[tengek37]

Individual countries are going to need to figure out some way to tax cryptocurrencies otherwise they are going to see huge declines in income each year going forward. It is that simple.

I agree with your opinion because it can not be denied if the income from bitcoin taxed then it could be one big enough state income, because every day there is always a btc transaction.

[Immakillya]

in your country income from bitcoin taxed? state the country

I believe not and i dont think they can because authorities won't detect you from using bitcoin. Only they will charge tax to you for any traceable transactions like remittance and other transactions like that. That's why other countries are against this technolgy since they can't regulate it. That's why charging tax to bitcoin is impossible. You can evade taxes using this kind of technology because you are completely anonymous except you trade those bitcoins to licensed exchanges. Exchange will take an extra charge ofcourse for the tax.

[TagaMungkahi]

in your country income from bitcoin taxed? state the country

No it is not, in my country , it is not yet taxable because the salary as a cryprocurrency or token or digital coin is not covered on the law in my country. My country is Philippines, but i think if bitcoin or other digital coins will really enter the mainstream scene, ithink our Government will do something to earn a profit from it.

[Ajan08]

Bitcoins are really the first digital currency that was created in this manner and actually have a significant value in relation to other currencies. Essentially it is somewhat uncharted territory. Literally bitcoins, and even digital currencies are so new, that there is little to no precedent for some aspects of bitcoin mining, from a tax perspective.
Since Bitcoins are currently traded in various online marketplaces, when someone receives a Bitcoin, they can reasonably calculate it’s value in the local currency. Because of this, it is possible that the taxing authority will treat the receipt of a Bitcoin through a mining pool, or from an individual mining operation, as a taxable event. At that time, the taxpayer would be required to estimate the value of the Bitcoins in dollars and record that amount. This would have to be done either daily or weekly depending on the value of the Bitcoins if their value keeps fluctuating as much as it has the past few weeks. These amounts would be recorded as revenue from bitcoin mining operations and would be taxable less allowed expenses.

[Jovovich]

Bitcoins are really the first digital currency that was created in this manner and actually have a significant value in relation to other currencies. Essentially it is somewhat uncharted territory. Literally bitcoins, and even digital currencies are so new, that there is little to no precedent for some aspects of bitcoin mining, from a tax perspective.
Since Bitcoins are currently traded in various online marketplaces, when someone receives a Bitcoin, they can reasonably calculate it’s value in the local currency. Because of this, it is possible that the taxing authority will treat the receipt of a Bitcoin through a mining pool, or from an individual mining operation, as a taxable event. At that time, the taxpayer would be required to estimate the value of the Bitcoins in dollars and record that amount. This would have to be done either daily or weekly depending on the value of the Bitcoins if their value keeps fluctuating as much as it has the past few weeks. These amounts would be recorded as revenue from bitcoin mining operations and would be taxable less allowed expenses.

I think government are making way to tax bitcoin of it is a virtual currency. If most of the people of state would invest in bitcoin, the government would lose money and it would tend to go to just certain people who invested. I mean if a person gets the government would have no idea of how much he is earning because they cant track. It easy to make money transfer to avoid track of how much a person is worth. But as long as that person would at least invest IRL in his own state then the money would not be taken out of his own state.

[batang_bitcoin]

in your country income from bitcoin taxed? state the country

Nope, there's no income tax here for bitcoin as there's no regulation about bitcoin profit. Only the local exchange here that we are using is the one that was covered by the taxation of the gov't. But I don't have an idea if they are passing some tax on the services that we are using from them because most of the service that we are using on their exchange are very cheap and convenient.

[hpmp]

income tax is about income. Until you sell bitcoin - you have no income, you have a bitcoin, which price can go up or down.

[fiulpro]

Yes In India any income is taxable and Bitcoins are no exception.
No matter how much you generally earn and through which means you will have to pay tax as per the government regulations.

[saffira]

Here in the Philippines, bitcoin is not a big matter in the government.
It is not illegal. If you are employed, of course you are required to pay tax, however, tax on bitcoin was not imposed. Transfer fees maybe but not tax I think.

[streazight]

in your country income from bitcoin taxed? state the country

Nothing of such yet in my country since the government has not really stated their decisions yet on bitcoin, except plans to adopt it maybe later on. Until then, maybe the tax thing can work.
However, if this will work, it might have to be through exchanges cause except that, there is no strict policy regarding tax in my country.

[thugpi]

No bitcoin here in the Philippines is not taxed yet. But when you encash your money you will be charged by money transfer for fee when you get it.

[Coffee135]

In my country no one pays taxes for the use of bitcoins. The government has not invented a mechanism for the collection of taxes on such income. But if you bring bitcoins to Bank account it will be regarded as your income. Information about large transfers, banks themselves submit to the tax service. If you transfer only small amounts you will not notice.

[hase0278]

in your country income from bitcoin taxed? state the country

Even if bitcoin is widespread here in Philippines, tax is not that much since they only tax the website which we use to convert btc into fiat, Other than that, it is not taxed at all when we claim it in a money sending service or in the bank since funds from bitcoin can be directly sent to bank for us to get it there and is not labelled as bitcoin transaction, but it somehow looks like a normal money transfer when one does not look closely. There also is not a mechanism to collect tax from it.

[FluffyWallaby]

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

[randythered]

I think earnings here are taxable but it is such a new area that I think you could probably get away with not declaring your earnings and given the nature of bitcoin the authorities would probably not find out.

[yugyug]

In my country the bitcoin to fiat exchange platform is a KYC and AMLC compliant, and taxes were implemented on a transaction higher than 1000 USD equivalent. Although there are service charges when cashing out from btc to fiat amounting below 1000 USD and i thought that there were  hidden taxes  carried over on that charges but it is negligible. When paying services like salon or restaurants, the shop implement taxes from bitcoin payment but tax is minimal for as low as 2 percent.

[Nivir]

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

[Buttercup123]

in your country income from bitcoin taxed? state the country

In my Country the Philippines, some officials sees online profit sources should be taxed and now some sites are being taxed by my country, but i think they don't know about or they know a little about the bitcoin so no implemented taxing authority is formed against btc. All filipinos can freely use bitcoin whenever and wherever they want.

[syaripudin]

In my country the government does not impose taxes on other activities when it is done if I exchanged the bitcoin on the fiat I store on my wallet account there is a cut like a tax cut of a few percent just as it is for the sake of administration. also when I transfer the fiat that I have to the account I have from my wallet account, I will certainly have a few percent discount for the benefit of administration. whether or not such a thing is a tax or not but I know tax is a piece taken from any activity that is beneficial to the perpetrator of that activity. it is possible that the legislation will surely be enforced by the government in my country if bitcoin already has legality of course with the existence of this tax is already a regulation that must be obeyed by users of crypto

[Sithara007]

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

This is exactly why countries such as China are trying to ban exchanging crypto to fiat. For example, if you are living in a high tax country such as Germany and Sweden, then you can catch a flight to St Kitts (where there is no income tax) and get your coins converted to fiat. You can come back to Germany and show the income as earned from abroad.

[Webetcoins]

I think earnings here are taxable but it is such a new area that I think you could probably get away with not declaring your earnings and given the nature of bitcoin the authorities would probably not find out.

I think not in Austria but in almost all the countries the earning of the people is the taxable and these taxes are the part of the bitcoin in the economy of the country to take it high. The transaction fees and the tax payment of the bitcoin is the money that is increasing the economy of the country so I think now the government should make bitcoin the legal currency.

[BitcoinMuscle]

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

[South Park]

in your country income from bitcoin taxed? state the country

All income needs to be declared and taxed even if the tax rate is zero, you cannot escape taxes and bitcoin is not an exception to that rule so if you have bitcoin and you want to get fiat for your bitcoin, be open to your government and pay your due taxes and forget about problems.

[LeGaulois]

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

You are responsible to keep track records about your activity with bitcoin. What and Where you buy/sell etc. And don't say to your Taxes offices you didn't know because you are supposed to know and it's not an excuse. Also, any income if supposed to reported into your taxes report, so no matter if it is with bitcoin or not, you are supposed to report any income.

[contrarian]

I live in Portugal but I'm not sure how much is the tax. I think there are two ways you can declare your income from bitcoins. One pays a tax of 28% to 35%. The other pays less but I don't know how much and you can only use it if you work for others and don't receive a lot of money every year.

[Milo_Kidd]

in your country income from bitcoin taxed? state the country

In my country I don't know how much and do not know if theres. But for sure theres in transaction provider for example the wallet, the banks etc. for sure there is. As I've expereince I did not felt the tax in bitcoin so thats the thing that I like. Easy transaction and low tax if there is.

[jamids]

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

Since you earn from it then you have a responsibility to report it to your government because it is part of your income. Though they may not be able to identify what kind of asset bitcoin is, since you got income from it then there is a need for you to include it in your taxable income and it would be up to them to make it as an exception. I have known some people who are working online and does not pay tax because they felt that they don't need to because the tax they pay are just going to corrupt government officials but I still think that even if the government does not know they are earning online, they have a responsibility to report it being a responsible citizen.

[Thyaga]

in your country income from bitcoin taxed? state the country

it costs about 0.0005 btc only, 0% as market maker, 0.3% as market taker.
pretty cheap and the service is amazingly good

[guoyu78]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

[Mobshady24]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

are you in china dude? so sad that bitcoin is banned there and of course you cant do anything about that. it is so hard to see some countries which bans bitcoin because they think it is a scam, good thing here in our country, earning from bitcoin may not be taxed as long as you do not declare it as other income line item.

[surix]

I believe in Europe, for now at least, bitcoin is seen as an asset. That is to say, as long as I hold it, I don't need to pay the tax. And I'm hold it...

For sure it can be painful to pay the tax when I cash out, but I prefer to be compliant and sleep well.

[bitbunnny]

I live in one of European countries and Bitcoin itself as cryptocurrency, asset or similar is not taxed. And I don't think that is going to be. But exchanging Bitcoin to fiat currencies in some countries is, although not in my. Those transactions could also be subject of anti money laundering checks. So rules are still very different and will stay so unless there will be some EU directive on cryptocurrencies regulation.

[Wishcoin.IO]

Bitcoin is subject to capital gains tax in the UK, similar to a secondary property and all manner of assets. I would have thought most countries wouldn't distinguish how you've earned your money, they would just like a slice of it. Those trying avoid tax at all costs should be careful as governments can act retrospectively if they believe they've been shorted.

[Koadharber]

Bitcoin is subject to capital gains tax in the UK, similar to a secondary property and all manner of assets. I would have thought most countries wouldn't distinguish how you've earned your money, they would just like a slice of it. Those trying avoid tax at all costs should be careful as governments can act retrospectively if they believe they've been shorted.

Just a normal thing that government would really impose taxes for the sake of economic improvements on a certain country and they would normally act on those tax evaders but if we do speak on hiding our asset on bitcoin form i would say it would be an another story.

[South Park]

Austria - Yes, pretty much everything is taxed. Also trades between different cryptocurrencies.
It all counts towards your income tax, so you are quite fast at 50%.

50% is quite too high. Why not try to just hold it all in crypto. Visit a country with lower fees and cash out then go back home to Austria then with that money.

This is exactly why countries such as China are trying to ban exchanging crypto to fiat. For example, if you are living in a high tax country such as Germany and Sweden, then you can catch a flight to St Kitts (where there is no income tax) and get your coins converted to fiat. You can come back to Germany and show the income as earned from abroad.

This is possible but you are going to catch a lot of fire by doing that, and I do not think things are going to be so simple anymore, I think governments are going to try to tax cryptocurrencies directly so you cannot use that backdoor anymore and avoid taxes in such a way.

[Vikingr]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

Bitcoin is still not accepted by so many Governments all over the world. Till the time this this does not happen, we need not to worry about paying of any kind of tax or anything like that. You can happily invest your money in Bitcoin and can start trading without paying a single penny to anyone. But things will change in the near future when the Governments will announce it to be legal.

[South Park]

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

You are responsible to keep track records about your activity with bitcoin. What and Where you buy/sell etc. And don't say to your Taxes offices you didn't know because you are supposed to know and it's not an excuse. Also, any income if supposed to reported into your taxes report, so no matter if it is with bitcoin or not, you are supposed to report any income.

This, even if bitcoin is still not on the tax code, we are responsible to keep track of our transactions and earnings, now if a person earned 100 dollars in a year then no one is going to go to jail for not reporting that but when we are talking about a  lot of money then you could be risking jail if you do not do it.

[hpmp]

guys. bitcoin is not in the tax, but when you sell your bitcoins and if the price is higher than it was when you bought it - you have income. Like it or not - you have to pay taxes if you are lawful. =)

but

if you buy something and pay with bitcoins - hmmm... that when it become interesting. Do we need to pay taxes in that case?

[stomachgrowls]

in your country income from bitcoin taxed? state the country

In my country Bitcoin is barely known by people. Also in governments laws Bitcoin does not exist, so how can I pay tax for something that they never heard about?
Even if I would want to pay taxes from my profit made with bitcoin how am I going to proof where I sold my bitcoins and how much is the profit? I need a receipe for that but maybe I am doing exchange with a person, not a company.
Bitcoin is not yet know by governments, so paying taxes now for bitcoin is a donation from my opinion

You are responsible to keep track records about your activity with bitcoin. What and Where you buy/sell etc. And don't say to your Taxes offices you didn't know because you are supposed to know and it's not an excuse. Also, any income if supposed to reported into your taxes report, so no matter if it is with bitcoin or not, you are supposed to report any income.

This, even if bitcoin is still not on the tax code, we are responsible to keep track of our transactions and earnings, now if a person earned 100 dollars in a year then no one is going to go to jail for not reporting that but when we are talking about a  lot of money then you could be risking jail if you do not do it.

This thing would really depend on peoples preference or minding on its responsibility or obligation for his country.If bitcoin isnt still consider on your county then i would say those tax that you would intentionally to give would really be served as donation since you wont get any preference on where those money came from.It dont think that this would be legal or they would consider to put it on your source of income.

[nizamcc]

I live in India where the government is currently not in a mood of accepting bitcoins completely and here, a tax called gst (goods and services tax) of nearly 1% is already being levied by exchanges at the time of trading bitcoins there. They are currently under the preparation of a framework to legalize and regulate bitcoins and stop its misuse as well as also coming up with their own coin called Lakshmi coin which will represent India in the cryptoworld.

[JL421]

What you telling me that some countries already charge tax from people for getting their income from bitcoin that's really bad for me till now my government hasn't shown much interest in bitcoin so no tax but i feel sorry for people who pay it currently

[novhitadaloma]

in your country income from bitcoin taxed? state the country

In my country indonesia has not apply bitcoin tax.

[X7]

Nice try IRS - do your own research lol

[naidray]

we who are citizen on my country who earn thru bitcoin are not directly subject to pay tax..tax free as of now..our goverment knows about bitcoin but they still dont give any massive attention regarding this..maybe because only few people on my country are actively involved on bitcoin and not yet fully recognized on mainstream.
However if our goverment step in and decided to put some tax on bitcoin.we have no choice but to follow.

Same here in my country too, bitcoin is not that popular and known to many and that maybe the reason also why its not taxed yet although our government do know about it. But if they do put tax on it then we really can't do much about it either.

I have same condition in my country. Bitcoins are illegal in our country and thus we are free form paying tax over it.

On the same side we are unable to do transactions in bitcoins. These bitcoin campaigning are not considered as illegal so we can do this only. No trading or investing is acceptable here. Hope for the better future here.

This is so sad if bitcoin is banned in your country and you are unable to use bitcoin for international transactions. I never understand the reasons behind declaring bitcoin illegal by the state because they are just currency, nothing dangerous. Bitcoin at present is the best investment for earning profits without too much effort, even those countries where bitcoins are legal still not paying taxes for using bitcoin. 

[hpmp]

Nice try IRS - do your own research lol

IRS is too tired after creating Bitcoin =)

I never understand the reasons behind declaring bitcoin illegal by the state because they are just currency, nothing dangerous.

it is dangerous. for them. It's like whole world want to use "foreign" currency and nobody can control its use. It's quite dangerous for government.

[South Park]

Nice try IRS - do your own research lol

IRS is too tired after creating Bitcoin =)

I never understand the reasons behind declaring bitcoin illegal by the state because they are just currency, nothing dangerous.

it is dangerous. for them. It's like whole world want to use "foreign" currency and nobody can control its use. It's quite dangerous for government.

The IRS or any other government agency would never create something like bitcoin, do you think they like one bit the fact that they could know where your money is but that they cannot steal away from you, you only need to commit your seed to memory and your coins are never going to be appropriated by any tax agency.

[Flodemaga]

Well there are tax at any country, but for you to pay them you must declare your bitcoins, some countries does allow you to make those, the thing is the taxes are present once you get profit you will have to pay based on those, something that is weird because we take the risks, we do expose our money at risk and when he sucess they wanna a share and when we do loose will they pay us a share, insane how tax works.

[error08]

Only few countries wants a piece of cake from what you've earned through cryptocurrency, and the most famous is USA as everyone have to report their profits from buy and sell to IRS. The IRS issued guidance on the treatment of Bitcoin and other digital currencies in their March 2014-21 Notice. The notice clarified the position that the IRS treats digital currencies as capital assets and are therefore subject to capital gains taxes. https://en.bitcoin.it/wiki/Tax_compliance. Fortunately, not in my county. People are free to trade bitcoin or altcoins as long as your transactions still not big enough to get attention from financial department due to there is a regulation about money transactions, to be transferred or received in a day. Keep on low profile, and all of your funds will be safe.

[Gaaara]

in your country income from bitcoin taxed? state the country

Mine is Philippines and we don't do taxes with bitcoin, our governments don't care about things like this that much, I doubt they even know about this, our governments don't care about things not unless it will affect their priorities, they only care about themselves being reelected and other stuffs only follows.

[South Park]

Well there are tax at any country, but for you to pay them you must declare your bitcoins, some countries does allow you to make those, the thing is the taxes are present once you get profit you will have to pay based on those, something that is weird because we take the risks, we do expose our money at risk and when he sucess they wanna a share and when we do loose will they pay us a share, insane how tax works.

That is why taxes are such a burden in the economy, it is the same with a business, the businessman  takes all the risks, he puts money in the business, he hires people creates a marketing campaign and in the case he is successful he needs to pay taxes to the state even if they didn’t do a thing to make that business a success.

[Warl0ck]

Yes I live in California and we have 15% capital gains tax.
Its a rather difficult process since I trade so often, in order to calculate taxes you would probably need to find an CPA accountant in that particular field.
Some countries that dont have capital gains tax in include singapore and puerto rico, which makes me really want to move there!

[farhaan]

No,not yet.In india,we bitcoin users still enjoy tax free income from bitcoins.But this situation may soon change as indian government has decided to legalize virtual currencies and has formed a committee to give recommendations to legalize bitcoin.So,after that,we may not be able to enjoy such privilege.But i don't worry about paying tax for bitcoin earnings as it would be much better than banning bitcoins totally.

[speedy963]

In my country they doesn't ask any taxes from bitcoin income, but i guess maybe someday the government will take an action for that matter, but as of now there is no signs that they will implement it, and i think it would also be hassle for everyone else having bitcoin, to think that they  have to state how much was their total income and if they wont abide the law they will be penalized, its sad though.

[South Park]

in your country income from bitcoin taxed? state the country

Mine is Philippines and we don't do taxes with bitcoin, our governments don't care about things like this that much, I doubt they even know about this, our governments don't care about things not unless it will affect their priorities, they only care about themselves being reelected and other stuffs only follows.

You can be sure they know, they just do not see a point of trying to get any money of it because the market is very small, once that gets any bigger they are going to charge you tax like in anything else, so take advantage of the fact that you do not have to pay taxes for now because that is not going to last.

[Kidmat]

In my country there is no tax been collected for bitcoin users. This means bitcoin has already well known and we have freedom to use.  But I have heared there will be an adoption in the banks soon. Thus, there is no tax for bitcoin users here in my country.

[BenjaminFranklingwould]

in your country income from bitcoin taxed? state the country

There are no legislation or taxes on bitcoin in my country because it's out of the law. It's not totally illegal but I'd talk with my tax accountant about it. But there is my point. If I cashout and spend bitcoins in the other country where is no taxes on it then it is not a problem, imho. NOT an advice, just opinion.

[JoMarrah Iarim Dan]

in your country income from bitcoin taxed? state the country

In my country, if your income comes from bitcoin or in any kind of online business, the government does not get tax in you. In case of bitcoin I am not really sure if our government knows about bitcoin since they are busy in resolving the “traffic and drug problems” here.
Additionally, I know a friend who works online. Selling cosmetics, clothes, shoes, anything and they have no tax. I also try selling load online and I have no tax. Maybe in the near future it will exist.
Bitcoin is not taxed but in converting bitcoin to fiat, we pay fees like in any other countries.

[South Park]

in your country income from bitcoin taxed? state the country

In my country, if your income comes from bitcoin or in any kind of online business, the government does not get tax in you. In case of bitcoin I am not really sure if our government knows about bitcoin since they are busy in resolving the “traffic and drug problems” here.
Additionally, I know a friend who works online. Selling cosmetics, clothes, shoes, anything and they have no tax. I also try selling load online and I have no tax. Maybe in the near future it will exist.
Bitcoin is not taxed but in converting bitcoin to fiat, we pay fees like in any other countries.

This information cannot be correct unless you live in one of those countries where there is no income tax, but for the rest of the persons you need to pay your taxes, at some point the government is going to realize you are getting money and they are going to come knocking on your door for their share.

[Monnt]

guys. bitcoin is not in the tax, but when you sell your bitcoins and if the price is higher than it was when you bought it - you have income. Like it or not - you have to pay taxes if you are lawful. =)

but

if you buy something and pay with bitcoins - hmmm... that when it become interesting. Do we need to pay taxes in that case?

In that case, I guess we don’t. After all, what is the profit in conversion to fiat we are making on that one. If you buy something though, whoever is going to end up converting to fiat at a point will be the one responsible for paying the tax as it is. A time will come however, that government will find a way to regulate all the exchanges available in the country and probably impose tax on every P2P transactions.

[zeaderza]

I live in India where the government is currently not in a mood of accepting bitcoins completely and here, a tax called gst (goods and services tax) of nearly 1% is already being levied by exchanges at the time of trading bitcoins there. They are currently under the preparation of a framework to legalize and regulate bitcoins and stop its misuse as well as also coming up with their own coin called Lakshmi coin which will represent India in the cryptoworld.

This is exactly what will start happening in most countries. No country will really accept bitcoin completely, that is for sure, however, they won't stop anyone from making use of it and they will try every means possible to gain from it. If we can't stop you, we will join you in a way and get our own little share of it will be the next motto of each government worldwide.

[andrew24p]

Capital gains in the United States. It is terrible, you are probably looking at 40% tax if you try to cash out a large amount over 100k. You pay state and federal which adds up to about 35% where I live and another 5% about if it is over a certain amount. Craziness.

[marjoree]

We pay taxes with our own currency because only few here knows about bitcoin so the majority does not need to pay with bitcoins without them knowing anything about it. But soon i guess

[E-shipper]

In our country, do not yet charge the bitcoin with a tax because they do not want to recognize it as a real currency. On the one hand it's good, but they can ban it.

[Yadstiker]

guys. bitcoin is not in the tax, but when you sell your bitcoins and if the price is higher than it was when you bought it - you have income. Like it or not - you have to pay taxes if you are lawful. =)

but

if you buy something and pay with bitcoins - hmmm... that when it become interesting. Do we need to pay taxes in that case?

In that case, I guess we don’t. After all, what is the profit in conversion to fiat we are making on that one. If you buy something though, whoever is going to end up converting to fiat at a point will be the one responsible for paying the tax as it is. A time will come however, that government will find a way to regulate all the exchanges available in the country and probably impose tax on every P2P transactions.

it would be hard i guess not only for the miners, but most affected are us the users. Imagine that we are already paying fees when dking transaction, how much more if the government will imposed that law, and then we are required to pay minimum tax depending on how much bitcoin we are transferring, so sad but maybe that will be happening someday, hopefully not.

[dExplorer]

Bitcoin  is not yet implemented as an alternative for paying taxes here since it is one of the third world country and not all people here knows about bitcoin yet

[ModGirl]

In our country, do not yet charge the bitcoin with a tax because they do not want to recognize it as a real currency. On the one hand it's good, but they can ban it.

Bitcoin is the best thing as you need not to pay even a single penny in the form of tax to the government. This is why most of the investors are happily investing in bitcoin with each passing day. Like you said, till the time bitcoin the government will not declare bitcoin as legal there will be no question of paying any tax to anyone.

[futuret]

Bitcoin  is not yet implemented as an alternative for paying taxes here since it is one of the third world country and not all people here knows about bitcoin yet

Yes for sure the bitcoin is not yet implemented for this and the bitcoin is getting more and more space of the sake of the money, the worth of the bitcoin is increasing and the tax will be announced by the government as soon as the bitcoin will be the legal currency so it’s very important to have the bitcoin and wait for the price of the bitcoin to increase more through being the legal currency.

[bitgov]

in your country income from bitcoin taxed? state the country

In many countries it is taxed as an increase, income to a private portfolio but the bitcoin itself may not be taxable but we as people should pay such a fee, thats what i heard about some countries.

[sunsilk]

in your country income from bitcoin taxed?

I'm not directly tax with the bitcoin that I'm earning and I don't know if the services I'm availing with the local exchange I'm using does have any tax.

But I'm thinking this way, since the local exchange I use is legit registered to the central bank. They are the ones that are paying tax and I guess they are adjusting the fees of their services and in that way I'm taxed and as well as other bitcoin users.

[sindikat]

in your country income from bitcoin taxed? state the country

In many countries it is taxed as an increase, income to a private portfolio but the bitcoin itself may not be taxable but we as people should pay such a fee, thats what i heard about some countries.

How can I determine what amount to pay the tax? I do not understand. You provide the tax office access to your wallet? And what will happen if the next day the price of bitcoin will drop 20-30%? Such cases often. I understand if taxed the amount that is credited to the Bank account in exchange for Fiat money, but how to determine what amount and when you are invested in buying coins?

[hpmp]

Nice try IRS - do your own research lol

IRS is too tired after creating Bitcoin =)

I never understand the reasons behind declaring bitcoin illegal by the state because they are just currency, nothing dangerous.

it is dangerous. for them. It's like whole world want to use "foreign" currency and nobody can control its use. It's quite dangerous for government.

The IRS or any other government agency would never create something like bitcoin, do you think they like one bit the fact that they could know where your money is but that they cannot steal away from you, you only need to commit your seed to memory and your coins are never going to be appropriated by any tax agency.

I want to pay taxes. Just want. I'm not the only person who want to pay taxes. Of course I want to control how my taxes are used. And of course I want to control tax amount through voting and political process.

I see cryptocurrencies are like emails vs mail. It's more convenient, it goes through any boundaries, it's a future. Remember Cold War? That was a time when govs could control any public information. And when Internet came into play - all that GovSec guys was like crazy about it: everyone could write anything about everything

Bitcoin is in the same situation now.

I'm paying taxes because I want my children go to better school. My children will grow with bitcoin and with knowledge of how to use it. But they will pay taxes just like I do.

That's what I'm talking about.

[frowsiter]

Capital gains in the United States. It is terrible, you are probably looking at 40% tax if you try to cash out a large amount over 100k. You pay state and federal which adds up to about 35% where I live and another 5% about if it is over a certain amount. Craziness.

Earning the dam thing is also easy so I guess it's worth paying those taxes and live happy life. No craziness in that as long as government is not getting you into trouble and they are letting you use the whole bitcoin money in first place. I mean why wouldn't I lay the tax if it's going to add up into my financial credit score leaving behind my good status in finance. Banks will recognise me and I can be a person to whom banks will help if I'm asked for. That's another feeling if you are broad thinker.

[asha18]

Tax is the main source of government income. Any government has to pay taxes for the development of its government and country's development. Because the Bitcoin is not approved by the government, tax is not set on it. If you ever declare Bitcoin to be valid, then it will definitely charge tax on it.

[alfs75]

in your country income from bitcoin taxed? state the country

Tax,is so rampant in our country,because it is the main source of government income,without tax no infrastracture project in all over areas ,but many politcian they abuse our tax they use it for there personal interest that why they make a law in taxes called EVAT(expanded value added tax)if things happen that government will regulate the bitcoin,my perception maybe they abuse the digital currency business and they implement  evat and one who suffered all of us bitcoiner, that the things that we dont allowed happen to us.

[trecore4]

In my country the financial system is not well developed due to corrupted political systems. The finance department won't even care if I put 100k in my bank account and justify them if I got it from the trades and investment. They will be interested to know how I did rather than asking any more questions regarding severity of matter. This is how it works here and if you have lot of money then I would suggest you to reside in my country that's mannipuram. Lols. Everything is so cheap and developing here.

[ToyotaFortuner]

in your country income from bitcoin taxed? state the country

in my country the tax from bitcoin still has not been done, because my state government does not take action to have bitcoin or use it in state finance.

[hpmp]

in your country income from bitcoin taxed? state the country

in my country the tax from bitcoin still has not been done, because my state government does not take action to have bitcoin or use it in state finance.

if you have to pay taxes in your country you have to pay taxes based on your income or profit. It usually works that way.
So, if you have profit from the operations with Bitcoin - your have to pay some taxes when you convert BTC to fiat and have profit.

[tailorlens]

I haven't had the chance to fully check the tax issues with bitcoin in my country. But, from what I have seen or heard it is not a possibility mainly because the government does not own bitcoin.

[jbarcenas18]

in your country income from bitcoin taxed? state the country

Here in my country, the government is not yet strict on implementing the income tax which is the same thing with any other online income we can get. Maybe they feel that this sector is not yet that big and so we are given more leeway to enjoy the money we can get out of it and just give us the power to declare them or not. There is no guarantee that in the future the government may not be implementing the strict provisions of the income tax law for all citizens regardless if one is offline or online.

Specific to Bitcoin, the exchange provider is not directly adding tax to the transactions but am sure that a certain percentage is being withheld for the government and it is already a part of the amount the buyer is paying for. The government on this instance is treating Bitcoin just like any other foreign currency and we are basing the regulations implemented on the remittance services.

Now, I would say that doing some Bitcoin business here in my country can be smooth and convenient as we can easily convert our Bitcoin just within hours to the local money. We already have the infrastructure for that and I guess there are more coming to the market.

same as my country also, they don't implement tax on bitcoin because few only know about bitcoin, the government collects tax from goods and services and we have a new tax reform for acceleration and  inclusion law that imposed higher taxes on fuels, tobacco, alcoholic drinks, softdrinks and many more but lower income tax to employees.

[brotherwood12]

i'm indonesian and still no bitcoin tax , also bitcoin was "semi banned " i think , the news is confusing and still not permanent bannned
and i hope it will legal as soon as possible

[Xerox101]

bitcoin still not legalized here in my country so our government doesn't taxed bitcoin even there are companies who already accepted and transacting bitcoin.

[datodota002]

in my country bitcoin isn't taxed because my government doesn't know how to taxed bitcoin with all the anonymous user , this is why in my country bitcoin considered as an illegal activity, but i think thinking like that just because they cannot get tax from bitcoin, can you imagine Billion of dollar are flow in the bitcoin, and if it can be taxed it will be a lot of money.

[Anwar22]

in your country income from bitcoin taxed? state the country

I think no country takes taxes for bitcoin income because government doesn't control it when government will control then they take tax

[boruto99]

in indonesia there is no tax on cryptocurrency yet. who know if i profit in bitcoin? goverment? this is why goverment hate bitcoin because decentralization..

[samtarly]

There is no tax yet for cryptocurrency but in over all income like the annual tax we may declare it but the question is who does that? 
this is the reason why many bounty hunters, traders, investors are entering this market as soon as possible because the income we get from it is pure, no tax deduction whatsoever yet.

[adekpulpen]

I agree with this, taxes from bitcoin
This means the government will recognize bitcoin, whether it is trade, investment, or become the country's legitimate digital currency
I do not mind if I have to pay taxes from bitcoin earnings, this will also bring a positive impact for the country, because it will increase the typical income of the country.

[giftoflove58]

in your country income from bitcoin taxed? state the country

not at all, Our government had no implementation of tax because bitcoin is not legalized also in my country.

[christina30]

in your country income from bitcoin taxed? state the country

 Me im from philippines still no taxes.But if our government put some taxes on bitcoin.I will glad to give to them my taxes as long its on a right price.Because taxes help economy grow.And if economy grow the country will follow

[contrarian]

I live in Portugal but I'm not sure how much is the tax. I think there are two ways you can declare your income from bitcoins. One pays a tax of 28% to 35%. The other pays less but I don't know how much and you can only use it if you work for others and don't receive a lot of money every year.

Update about this: there is a legal vacuum on this in Portugal. So gains from cryptocurrencies are not taxed in Portugal for now. Unless its part of your business or professional activity and has to pay the normal taxes. So if you are an investor move to Portugal now. Lol.

https://bitcoiner.today/en/portugal-profits-with-bitcoin-do-not-pay-taxes/
https://www.reddit.com/r/CryptoCurrency/comments/7r3esg/portugal_will_not_tax_cryptocurrency_gains/

[Fappanu]

in your country income from bitcoin taxed? state the country

As far as I can remember, there are couple of countries only who taxed btc. Well, my country isn't one of them. When you cash it out, there could be a little interest but all in all, none.

Internet is the only thing involved in BTC that I pay, plus the electricity. Other than that, there's no more.

[Kigwa143]

In my country bitcoin is not being taxed by our government but they dont recogrized bitcoin and they dont recommend bitcoin to be invest by the people because they say that bitcoin investment is so risky.However many people still in bitcoin because they can assure big profit compare to banks.

[crocozino]

in my country, the government is not implementing the income tax for the cryptocurrencies, I'm sure they heard about it, but just do not understand how to count and tax it  . Of course they want to tax it, so I think in the future the government will steal the same laws and regulations from other counties and then implement here, but till that I have free time to earn some tax free income

[boynegro]

in your country income from bitcoin taxed? state the country

Here in my country, the government is not yet strict on implementing the income tax which is the same thing with any other online income we can get. Maybe they feel that this sector is not yet that big and so we are given more leeway to enjoy the money we can get out of it and just give us the power to declare them or not. There is no guarantee that in the future the government may not be implementing the strict provisions of the income tax law for all citizens regardless if one is offline or online.

Specific to Bitcoin, the exchange provider is not directly adding tax to the transactions but am sure that a certain percentage is being withheld for the government and it is already a part of the amount the buyer is paying for. The government on this instance is treating Bitcoin just like any other foreign currency and we are basing the regulations implemented on the remittance services.

Now, I would say that doing some Bitcoin business here in my country can be smooth and convenient as we can easily convert our Bitcoin just within hours to the local money. We already have the infrastructure for that and I guess there are more coming to the market.

Tax is a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

[waskaplung]

in your country income from bitcoin taxed? state the country

Here in my country, the government is not yet strict on implementing the income tax which is the same thing with any other online income we can get. Maybe they feel that this sector is not yet that big and so we are given more leeway to enjoy the money we can get out of it and just give us the power to declare them or not. There is no guarantee that in the future the government may not be implementing the strict provisions of the income tax law for all citizens regardless if one is offline or online.

Specific to Bitcoin, the exchange provider is not directly adding tax to the transactions but am sure that a certain percentage is being withheld for the government and it is already a part of the amount the buyer is paying for. The government on this instance is treating Bitcoin just like any other foreign currency and we are basing the regulations implemented on the remittance services.

Now, I would say that doing some Bitcoin business here in my country can be smooth and convenient as we can easily convert our Bitcoin just within hours to the local money. We already have the infrastructure for that and I guess there are more coming to the market.

Tax is know as a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

[donpepot]

in brazil there is no taxes for bitcoins.

What is tax, tax is a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

[amih]

any income from any field of business will surely be a regulation on taxation which is a duty which must be adhered to every citizen who occupies a country. samahalnya with the other adasebuah taxes that are on the bitcoin that I feel when I do a delivery of bitcoin assets that I have exchanged in exchange exchange in the local bitcoin wallet that existed in my country to be the official fiat currency that existed in my country. the tax deductions I feel when shipping my bank account number and not yet cutting when I will take the money from the bank. and I think it is the same as a tax imposed on bitcoin.

[J Gambler]

in your country income from bitcoin taxed? state the country

I think that no country from everywhere have a tax for bitcoin yet. Even if the country that we reside in have taxes for our yearly income this does not take into consideration the income that we are getting from our investments and encashments on bitcoin. One thing that we must always push theough is for governments and people understand the concept of bitcoin before it be taxed or worse

[yusupjatigumilar]

in your country income from bitcoin taxed? state the country

In my country the income from bitcoin is not taxed, because the government itself does not legalize the bitcoin in circulation as a payment alay, so the government can not impose income tax from the business of bitcoin, whereas in my opinion if the government can legalize and make regulations about bitcoin transactions then the country will earn a huge income from bitcoin taxes.

[CherRic]

in your country income from bitcoin taxed? state the country

In my country, there is regulation that every money transfer, money encashment or anything that will run through money encahment establishment, there is a tax, about 12% tax. Bitcoin is not exempted to this because we have a local-based Bitcoin wallet in which you can directly encash it. These wallet is made or developed by our country. That's why, Bitcoin is taxable in my country.

[bechay20]

Here in my country,especially in my place,i think bitcoin is not yet well known by many that is why we're still not paying tax from bitcoin profit  not unless our government recognized it and be legalized there is possibility that they impose tax from it.

[khayecee13]

My country has not yet issued clear guidelines on the tax treatment of bitcoin transactions. However, it is clearly written in our internal revenue laws that any type of income earned by a citizen shall be taxed unless expressly exempted. Yet, given that my country has its massive infrastructure building ambition, the government may impose taxes on bitcoin related transactions.

[sontoloyo177]

at the my country seems to apply. will begin for my country tax purposes, transactions using virtual currency should be reported. Therefore, taxpayers will be required to determine the fair market value of virtual currency in official money. on the date of payment or acceptance. If the virtual currency is listed in the exchange and the exchange rate is determined by the market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency to official money (or to other real currencies which in turn can be converted to official money) by a reasonable rate, applied consistently.

[TheGreatPython]

in your country income from bitcoin taxed? state the country

 Me im from philippines still no taxes.But if our government put some taxes on bitcoin.I will glad to give to them my taxes as long its on a right price.Because taxes help economy grow.And if economy grow the country will follow

There is no doubt that paying taxes is apparently for improving the economy of the state and taking it to development. But the real problem is that state will progress only when these taxes are used in the right way. In reality these are used in weapons, wars, fights etc. Which are not good for the world on the whole. We should keep in mind that these taxes are not always used for the welfare of the state. They are most of the time residing in bank accounts of evil people.

[contrarian]

in your country income from bitcoin taxed? state the country

I think that no country from everywhere have a tax for bitcoin yet. Even if the country that we reside in have taxes for our yearly income this does not take into consideration the income that we are getting from our investments and encashments on bitcoin. One thing that we must always push theough is for governments and people understand the concept of bitcoin before it be taxed or worse

Many countries tax bitcoin gains. Didn't you read the thread? Here are examples from Spain, USA and the UK:

In my country, Spain, bitcoin earnings are considered as stock market earnings in general. If you earn up to 6.000 € you have to pay 19%, if you earn up to 50.000€ you have to pay 21% and if you earn more than 50.000€ you have to pay 23%.

In some cases, it is interesting to cash out a bit less to pay lower tax. So, let’s say that you want to cash out 8.000€ in November but you are not in a hurry. It is better to cash out 6.000€ and wait a couple of months to cash out the other 2.000€ so you will pay 19% tax instead of 21%.

As far as I am aware in the United Kingdom tax on bitcoin earnings would be treated as capital gains as and when you sell your bitcoin.

And as far as I know people in US should report capital gains to the IRS, traders who buy and holding cryptocurrency should use capital gain or loss tax treatment on sales and exchanges, with the realization method, in the end capital gain or loss needs to be reported on that transaction based on exchange rate at the time. https://en.bitcoin.it/wiki/Tax_compliance
Most countries doesn't have regulations about cryptocurrency and people could trade bitcoin without pay taxes, it is a double edge sword, as people want bitcoin to be regulated, but they have to report all the income and pay taxes if a Country decide to do it. However, Japan as the first country that has legalized bitcoin has eliminated tax on the sale of bitcoin, https://cointelegraph.com/news/its-official-japan-has-eliminated-tax-on-bitcoin-rise-in-trading-expected.

In Britain it's classed as an asset - so you pay capital gains tax when you sell. And teh capital gain is the amount you sell it at less the amount you paid for it.

The first £11,300 of the capital gain each year is tax free. Then you pay tax at your marginal rate - so 20% if you are a basic rate taxpayer.

So as long as you don't sell all at once, and cash out slowly year by year, you don't really pay much tax.

[Sled]

In my country, we don't have a law or order from the government to tax the income that i am are getting from bitcoin so it is a really great thing for me work in bitcoin and to get my earnings in full stacks. Bitcoin is slowly getting attention in my country and it is a good thing for me because i can really say that bitcoin is slowly revolutionizing for changing our finance system and making it better.

[Lasvista]

in your country income from bitcoin taxed? state the country

I'm from phillipines so in our country we have  or we doesn't pay tax from bitcoin because it still illegal , and as far as I know bitcoin will be implemented in our country these years so hoping and looking forward.

[luckybegum3907]

I Think exchange provider is not directly adding tax to the transactions but am sure that a certain percentage is being withheld for the government and it is already a part of the amount the buyer is paying for. The government on this instance is treating Bitcoin.  As far as I know it's only a problem when you want to sell, like gold, so I will just keep making as much BTC as possible for the time being, I have low stress tolerance and don't want to keep thinking about complex stuff like taxes now. No country will really accept bitcoin completely, that is for sure, however, they won't stop anyone from making use of it and they will try every means possible to gain from it.

[Gotumoot]

in your country income from bitcoin taxed? state the country

For my country phillipines is the bitcoin is not taxed though but we all know that it would help the economy and it would probably a big help at many aspects , such as the services and people though.

[joebrook]

in your country income from bitcoin taxed? state the country

In most of the countries where Bitcoins are widely accepted, there are laws where the peoples are taxed whenever they convert their bitcoins into cash, This enables the country to make some money through the regulation.

[Silberman]

guys. bitcoin is not in the tax, but when you sell your bitcoins and if the price is higher than it was when you bought it - you have income. Like it or not - you have to pay taxes if you are lawful. =)

but

if you buy something and pay with bitcoins - hmmm... that when it become interesting. Do we need to pay taxes in that case?

According to some countries you need to pay tax even when you buy something with bitcoins which is odd to say the least, but I suppose they are considering you are selling your bitcoin for a product and in that instance you still need to pay tax in any earnings you made during that period, this is going to make paying your taxes very difficult but that was to be expected.

[Dissident991]

In Russia bitcoin is not yet taxed, but our government really want to get some money from crypto. They just don't know how to do it, the last legistation that they proposed is too raw.

[Roukawa]

There is no tax being implemented in the Philippines. The government just warned us that maybe we lose to much if we will invest in cryptocurrency. As of now, there is no regulation but I think soon they will probably make some regulation about cryptocurrency.

[Yamifoud]

in your country income from bitcoin taxed? state the country

In most of the countries where Bitcoins are widely accepted, there are laws where the peoples are taxed whenever they convert their bitcoins into cash, This enables the country to make some money through the regulation.

This could a way that government can get some benefits from thousands of Bitcoiners in every country. Do the fact that we don't have clarify or even put everything we've been holding in a paper, so therefore still we can manage to escaped from them.  But once this regulations may implement strictly,  I'm really sure that of being anonymous in the public will surely be gone and pushing everyone to declare all the belongings otherwise they confiscate undeclared amounts.

[Zaggeta]

In South Africa, Bitcoin themselves are not taxed because they are not recognised as currency. When they are sold for fiat, the income gained from that is taxed.

https://www.fin24.com/Tech/how-bitcoin-earnings-are-still-taxable-20171214

[Henry Sy]

in your country income from bitcoin taxed? state the country

Here in the Philippines where I belong, no Bitcoin is not taxed because we already know that Bitcoin was decentralized and far away from connectivity to banks and even the government that is why we Bitcoin users are freely using our money to the fullest and gain it with no tax so that we can enjoy what we have invested with time and effort. Also, it is because not all people here in our country do practically know how to use and do not really recognize or know Bitcoin that is why it is not taxed by the government although they have already known its existence.

[balanza96]

Mexico, I do not believe it is taxed.

[kolitski]

Here in my country you pay taxes with your income but income tax from bitcoin is not yet to be impose in our government, i think coin.ph was paying taxes. In my opinion bitcoin no need tax it is because decenralized currency.

[james23]

in your country income from bitcoin taxed? state the country

We should pay taxes  as a citizen of our own country we should pay our yearly obligation and share a little amount of our salary

[moneyangel]

in your country income from bitcoin taxed? state the country

We should pay taxes  as a citizen of our own country we should pay our yearly obligation and share a little amount of our salary

Yeah, I agree on you. As long as we are profitable in our investments I find no reasons to opposed if the government will ask for taxes but luckily our government here has no implementation such rules in dealing cryptocurrency. Maybe if bitcoin in here will be more popular like Japan, our government will implement that taxes but that's not a problem to me as I will pay what is due to them.

[lucario21]

In Philippines bitcoin earnings were still non-taxable and it's a good thing for us that we can enjoy our profit without worries from our government. However I am not against if they implement the taxation of btc or any crypto-currency.

[burnchan]

in your country income from bitcoin taxed? state the country

In the Philippines, Bitcoin is not yet taxed. However, the Philippine Bureau of Internal Revenue might start to collect tax sooner after the they issue a clear guidelines on cryptocurrency transaction. The tax to be collected will depend on the classification of bitcoin. Hopefully, the tax to be collected will not be too high. This because Bitcoin is a good source of income to compensate the increase of the living cost due to the newly imposed excise tax.

[makolz26]

in your country income from bitcoin taxed? state the country

In the Philippines, Bitcoin is not yet taxed. However, the Philippine Bureau of Internal Revenue might start to collect tax sooner after the they issue a clear guidelines on cryptocurrency transaction. The tax to be collected will depend on the classification of bitcoin. Hopefully, the tax to be collected will not be too high. This because Bitcoin is a good source of income to compensate the increase of the living cost due to the newly imposed excise tax.

Well, it is okay to imposed tax for as long it won't burden enough to the tax payer, the bad thing in our government is that they are abusing their power by imposing a tax that is really burden especially to ordinary person. Just like when you have a passive income and you are required to pay 20% final tax that 20% is too big for me. I think it is not fair enough.

[anzhanbei1214068]

In our country, there is no tax on bitcoin, because it has not been recognized by the state.

China has no tax laws on digital currency.

[agamyan777]

The National Assembly of Armenia will consider the draft law "On Digital Technologies", which proposes mechanisms for regulating the mining of crypto-currencies. The author of the document is the deputy of the opposition faction "Elk" Edmond Marukyan, writes Eurasia Daily.

The bill introduces mining on the territory of the country in a legal field: it is allowed to obtain crypto-currency both legal entities and citizens of full age without obtaining any additional license.

In addition, it is expected that until the end of 2023, the activities for the production of crypto-currency will be completely exempted from any type of taxes.

[jinxing]

In my country every income is taxable. The public interest to invest in bitcoin is greatly increased because of the high price of digital currency. Therefore the sale and purchase of bitcoin is taxed. Tax payments are a liability for each investor.

[PG13]

In our country, there is no tax on bitcoin, because it has not been recognized by the state.

China has no tax laws on digital currency.

Same with with my country, there's no guidelines regarding the implementation of taxes but the government allows the transaction of digital currency as long as you will undergo the KYC verification from the exchanges that has license from the government. Maybe sooner as the market of cryptocurrency getting bigger, they will implement taxes. Hope that taxes is not high so we can still enjoy this blessing from digital currency.

[Bitcoinjheta]

In our country, there is no tax on bitcoin, because it has not been recognized by the state.

China has no tax laws on digital currency.

Same with with my country, there's no guidelines regarding the implementation of taxes but the government allows the transaction of digital currency as long as you will undergo the KYC verification from the exchanges that has license from the government. Maybe sooner as the market of cryptocurrency getting bigger, they will implement taxes. Hope that taxes is not high so we can still enjoy this blessing from digital currency.

Perfect country mate. Well in the case of my country in Asia bitcoin has not yet taxable by the government only the trading site has the authority to get the tax by means of transaction fees rather. The government allows his people to earned because they think it can help to excel there livelihood cause what ever earnings will go through the economic growth of the country as well.

[roxbit]

In our country, there is no tax on bitcoin, because it has not been recognized by the state.

China has no tax laws on digital currency.

Same with with my country, there's no guidelines regarding the implementation of taxes but the government allows the transaction of digital currency as long as you will undergo the KYC verification from the exchanges that has license from the government. Maybe sooner as the market of cryptocurrency getting bigger, they will implement taxes. Hope that taxes is not high so we can still enjoy this blessing from digital currency.

In my country I haven’t heard of the government governing on bitcoin tax. But if that will come I just hope it goes well to the people for the betterment of the country as a whole and not to some individuals for their personal  interest (corrupt politicians) only.

[foxbat]

I think the government has the right to tax us. Although I am not taxed by the government, I am taxed by the bank. They tax the money I receive in my account. This is inevitable.

[Sled]

I think the government has the right to tax us. Although I am not taxed by the government, I am taxed by the bank. They tax the money I receive in my account. This is inevitable.

If you are not taxed so as the other bitcoin users from the other countries then i am here to say that the taxing for the cryptocurrency users will be available very soon because the government will publish their order to tax the people and it is just because they want to be fair to the businessman and also other people who are working and earning but they are getting taxed.

[BeGoods]

in your country income from bitcoin taxed? state the country

We should pay taxes  as a citizen of our own country we should pay our yearly obligation and share a little amount of our salary

for the moment being grateful there is not any tax for bitcoin because the government in my country is still adamant about his view about bitcoin that bitcoin is an illegal currency and commodity so they do not give taxes on its users but even though my government forbids bitcoin to be traded. but its not at all disrupts my transaction and investments. only that decision makes the market go crazy, hope the market get recover soon

[Similificator]

Umm, nope. My country as of this day still does not require anyone here in our country to pay taxes for earning, using or holding bitcoins. In fact, our government is showing no reaction about any crypto currencies yet. Or should i say, they do not care about cryptos or whether we use it or not. But it really is hard to say if they are secretly talking about it behind closed doors or something since they are completely silent. Maybe they just choose to not care about it yet because there are currently so many things that needs attention here in our country right now.

And even though I like the no tax thing, I am not against it since it is clearly an obligation that we owe our country.

[LadyBB]

Money that you have to pay to the government so that it can pay for public services.people pay tax according to their income and businesses pay tax according to their profits.

[palle11]

in your country income from bitcoin taxed? state the country

We should pay taxes  as a citizen of our own country we should pay our yearly obligation and share a little amount of our salary

I don't think OP is kicking against paying of taxes. From the topic, I guess is just the curiosity about knowing if certain countries tax bitcoin investors or if others don't tax on it.

[7788bitcoin]

In my country I haven’t heard of the government governing on bitcoin tax. But if that will come I just hope it goes well to the people for the betterment of the country as a whole and not to some individuals for their personal  interest (corrupt politicians) only.

The tax free movement of bitcoin will end world wide when the regulations come into place,i do pay my takes for the profits i make with any digital asset and there is no exemption to that rule,but it is a bit complicated subject as there are two different types of taxation ,for long term and short term investment.

[Will.Smith]

In Russia bitcoin is not yet taxed, but our government really want to get some money from crypto. They just don't know how to do it, the last legistation that they proposed is too raw.

Yes, if they understand how to slice that profit from the people they would do that immediately without any doubt. But I hope they will be smart enough to not ban ICOs or crypto payments in local small businesses.

[Jlimao28]

As of now, our government does not impose tax in cryptocurrency. The problem is, if they will put tax about cryptocurrency for sure, they will abuse the law in which it will inflict to the crypto enthusiast. I am also an activist about implementing regulations in cryptocurrency specially, giving a tax even we hold or sell cryptocurrency and I hope it will not happen to us because definitely, government will take advantage the system.

[joms07]

Depending on your income bracket for 2018 the federal tax rate can be anywhere from 10 percent to 39.6 percent.

[izzabel]

in your country income from bitcoin taxed? state the country

We should  pay our taxes because it is our obligation  to our town or country as a share of our income of the whole year round

[Fixart96]

Currently in my country that bitcoin income has not been in taxes, because the tax is in use paper money is not virtual money.

[The Count of MonteCryptos]

Until bitcoin remains online, it's very difficult to be taxed (they are just some points in a network game...).
Of course, when you exchange them in fiat money, bitcoins become an asset, and will be taxed.

[turagsoy123456]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

If the government put a tax in the bitcoin i think there is a negative and positive impact. Because we already know the strategies in our government officials specially for those officials who are already involved in curroption they abuses thier power. But if our government is honest and there is well an integrity  they all afraid in curroption then maybe the tax of bitcoin that they collected will very useful in our country especially in our government project.

[allohha]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

If the government put a tax in the bitcoin i think there is a negative and positive impact. Because we already know the strategies in our government officials specially for those officials who are already involved in curroption they abuses thier power. But if our government is honest and there is well an integrity  they all afraid in curroption then maybe the tax of bitcoin that they collected will very useful in our country especially in our government project.

I never believed the authorities and do not believe that they will do something for the good of their people. If the government decided to legalize the crypto currency, there are still nuances that they did it with advantage. In most countries, only 10 or 15% of new officials, and everything else is old.

[pinoyden]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

If the government put a tax in the bitcoin i think there is a negative and positive impact. Because we already know the strategies in our government officials specially for those officials who are already involved in curroption they abuses thier power. But if our government is honest and there is well an integrity  they all afraid in curroption then maybe the tax of bitcoin that they collected will very useful in our country especially in our government project.

Agree, not all governments are greedy and only wants money a.k.a corrupt. of course majority of them are kind and always do their duty politely without the influences of money or any other illegal activities, the tax that they will collect to the people will always go in good hands and they will be used it if theres any problem that need to be fixed like for example if theres a broken bridge or faulty road that needs construction repair imediately

[ChConcept]

At this moment, we still don't have any regulation imposing tax on Bitcoin in our country. I believe our government is already looking into it and studying the regulations they need to impose so that they can get tax from Bitcoin transactions.

[pogiparin]

In the Philippines, bitcoin is not taxed. Bitcoin is not yet widely known in the Philippines. However, I do believe that bitcoin should be taxed for the very reason of abuse. Many could get rich without paying the right amount of taxes because bitcoin is not a formal means of earning money. In this way, many could invest in bitcoins or other cryptocurrencies working their way out of paying taxes

[Sled]

this tax is not speacial for bitcoin in my country. we are paying tax for yearly income.

If the government put a tax in the bitcoin i think there is a negative and positive impact. Because we already know the strategies in our government officials specially for those officials who are already involved in curroption they abuses thier power. But if our government is honest and there is well an integrity  they all afraid in curroption then maybe the tax of bitcoin that they collected will very useful in our country especially in our government project.

Agree, not all governments are greedy and only wants money a.k.a corrupt. of course majority of them are kind and always do their duty politely without the influences of money or any other illegal activities, the tax that they will collect to the people will always go in good hands and they will be used it if theres any problem that need to be fixed like for example if theres a broken bridge or faulty road that needs construction repair imediately

Let just say that all of the government are doing their thing in order to do their duty but the problem is the officials that is sitting in the government which is the corrupt and that is why we should be really wise in terms of choosing the official for the future position in the next election or else we will just suffer the same thing and that is corruption.

[Edrian]

in your country income from bitcoin taxed? state the country

Here in Philippines bitcoin doesn't have a tax because only few people here have knowledge at bitcoin, and for me, it was a good advantage, few people means less attraction to the government. Another thing, people here don't easily trust bitcoin I told a lot of people about bitcoin and lots of them did not believe, maybe because bitcoin needs money or money is involved in this of investment I'm trying to convince them to invest but they don't want too and its fine.

[InvestMen]

People's deputies suggest legalizing bitcoin, the etherium and about eight hundred names of virtual money. For manipulating the crypto currency at the exchange, they are proposing to collect the tax in the state treasury.

[Singbatak]

Tax is not for Bitcoin, because this is not comes from government. But if they're fitted the tax, this is not fair. Because many in government is corrupt. I don't like Bitcoin has a tax. And many who use Bitcoin will be sad for sure.

[rowel21]

For now government don't put tax in bitcoin cause they don't  know how to charge a tax for those who earn in bitcoin but  sooner or later they  will  learn it just like putting a bigger charge for any remittances when you cash out your money

[Naficopa]

Everyone has to pay taxes. And so it is already in this world. In my country, bitcoin taxes are paid on income, although some specific laws do not regulate it.

[Silberman]

There is no tax being implemented in the Philippines. The government just warned us that maybe we lose to much if we will invest in cryptocurrency. As of now, there is no regulation but I think soon they will probably make some regulation about cryptocurrency.

I have not checked the exact regulation in my country but if in your country it is not yet taxed then take advantage of the opportunity and trade as much as you can, once the legislation changes in your country you can slow down a little bit since every profit you get from a trade will be taxed but at least all the profits you get before that day will be tax free.

[Sled]

There is no tax being implemented in the Philippines. The government just warned us that maybe we lose to much if we will invest in cryptocurrency. As of now, there is no regulation but I think soon they will probably make some regulation about cryptocurrency.

I have not checked the exact regulation in my country but if in your country it is not yet taxed then take advantage of the opportunity and trade as much as you can, once the legislation changes in your country you can slow down a little bit since every profit you get from a trade will be taxed but at least all the profits you get before that day will be tax free.

There is no tax yet in my country and i am really taking advantage of it because i can earn how much i want and i don't need to pay taxes because they don't focus yet in taxing cryptocurrency so i can really get the whole amount of money that i earned in cryptocurrency and i hope that they will not tax cryptocurrency so i can have a clean and whole income.

[lodi123]

in your country income from bitcoin taxed? state the country

We should  pay taxes  because  it is our one responsibility  as a citizen of our own country

[CHENIEN]

About bitcoin, I dont ever heard any taxes being collected by government in my country, but I know that even bitcoin is not yet collected a taxes from government but still bitcoin contributes a total development of economy, because bitcoin is a big instrument that having high value when converted into real money, and the money that comes from bitcoin will help economy develop by constructing building in any kind of businesses which the money that used to build is gain from bitcoin.

[krishnaverma]

in your country income from bitcoin taxed? state the country

We should  pay taxes  because  it is our one responsibility  as a citizen of our own country

Also, do not forget about the legal requirements. There is no point in making millions with bitcoin investment, not paying the taxes and then ending up in the jail.

[bulls3y3]

No, bitcoin is not taxable in our country. Bitcoin is not legal nor illegal in our country. And not even the banks accepts bitcoin as a source of income. Maybe theres a time that they will implement that bitcoins to be taxed later.

[jak3]

I do live in India and our government has made special rules of income tax on the Bitcoin. Every cryptocurrency user in India has to pay some amount of tax depending on the rules and his business, they are charging the tax because the government does not want anything else to import or export from their country without permission that will be considered as an illegal substance. I don't think that any other country has taxation on Bitcoin for any other cryptocurrency till now but it's ok where finally using this cryptocurrency system in our country.

[Boknoi321]

I do live in India and our government has made special rules of income tax on the Bitcoin. Every cryptocurrency user in India has to pay some amount of tax depending on the rules and his business, they are charging the tax because the government does not want anything else to import or export from their country without permission that will be considered as an illegal substance. I don't think that any other country has taxation on Bitcoin for any other cryptocurrency till now but it's ok where finally using this cryptocurrency system in our country.

In our country , government not accept taxes or collecting taxes in bitcoin but bitcoin has a great contribution in a community to the people they gave chances to the poor and help to maintain good lifestyle.

[waskaplung]

in brazil there is no taxes for bitcoins.

What is tax, tax is a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, or evasion of or resistance to taxation, is punishable by law.

[ASHLIUSZ]

For the purpose of taxation, several countries have been creating their own regulatory laws. Long back itself Israel added bitcoin to the list of taxable assets similar to gold. In my personal thinking, however high bitcoin might get regulated, when it comes to taxation cent percent success is impossible.

[donpepot]

any income from any field of business will surely be a regulation on taxation which is a duty which must be adhered to every citizen who occupies a country. samahalnya with the other adasebuah taxes that are on the bitcoin that I feel when I do a delivery of bitcoin assets that I have exchanged in exchange exchange in the local bitcoin wallet that existed in my country to be the official fiat currency that existed in my country. the tax deductions I feel when shipping my bank account number and not yet cutting when I will take the money from the bank. and I think it is the same as a tax imposed on bitcoin.

Tax is important most especially to a country to grow more and to get more successfully. That why people pay taxes most especially to the people who has a stable job.

[dewisidik19]

I think the tax is a payment for the ownership of goods or business in which the tax funds will be managed by the government for the common progress in the country.

[0t3p0t]

Depending on your income bracket for 2018 the federal tax rate can be anywhere from 10 percent to 39.6 percent.

Either we like it or not tax is everywhere and we cannot escape from it. In my humble opinion, as a citizen of a specific country we must pay taxes for the good of our own economy because it will reflect to it. It is just a little contribution but some of us don't like that system and prefer to hide with cryptocurrencies and attempt or try to evade tax. Though tax is unfair for people like me who is a less fortunate but still I am able contribute through my income and profit here in crypto world I felt sorry for those who reaaly have nothing but you know being poor is a choice.

[Deeyoh]

Wow, many people in this thread needs to go watch "Hidden Secrets of Money" by Mike Maloney.  Taxes don't go to fix/improve anything.  Doesn't even cover the interest payment on debt owed by the governments to banks.  Crazy stuff here.  

https://youtu.be/23DNe0cJhcU

 

[Gabrieelle]

No, bitcoin is not taxable in our country. Bitcoin is not legal nor illegal in our country. And not even the banks accepts bitcoin as a source of income. Maybe theres a time that they will implement that bitcoins to be taxed later.

Same with where I'm from, they don't have special rules about bitcoin, it is neither illegal nor legal. But they keep reminding the citizens of the country to stay away from cryptocurrency because most of it are scams, which is not definitely true if only they have knowledge about it. Which leads to the banks being sensitive about bitcoin where in they also don't suggest to do any transactions regarding your earning through bitcoin.

[Lorna111]

in your country income from bitcoin taxed? state the country

BTC, are not yet regulated, there is no basis for the computation on taxation by mandate of the Government.
BTC are possible to be Tax, but still there's a lot to be done on the side of the Government.

[lesinset]

I'm from the Philippines and our country haven't started collecting tax from bitcoin income yet. But, news about plans the government is making is spreading so maybe sooner or later our country would be collecting tax too.

[orarider]

At present, bitcoin is developing strongly in the world. It is reasonable for a bitcoin user to pay taxes. Taxes are imposed that will curtail the development of bitcoin. Many countries are imposing very high taxes on bitcoin users.

[zwiggel]

My country has not yet levied on bitcoin. Because bitcoin is not widely used in my country. Very few people know bitcoin. I think the bitcoin will be taxed in the future. This will reduce the development of bitcoin.

[bitgov]

In my country you don't have to pay tax from Bitcoin, but from the profit you earn when you exchange Bitcoin to fiat.
Actually even when you buy something for Bitcoin, it is also taken as exchange.

[avadonne]

As far as I know, I think not. Not yet actually. I guess our government here in my country still discussing cryptocurrencies especially Bitcoin. It is an on-going debate between them to agree if they really should support Bitcoin. I hope they would. Because people here do really love Bitcoin.

[Similificator]

in your country income from bitcoin taxed? state the country

Well the great thing is that, there really is no such thing yet in our country that is making crypto loving people give taxes on earning or storing any kind of digital currencies. But the thing is, our country is like just turning a blind eye on the issues that are both positive and negative about any crypto currencies out there. Which is pretty scary since it makes me think that they are planning some big things to do either good or bad for the crypto currencies. I just wish that banning of cryptos or giving taxes that are completely illogical or are just obviously too high that we obviously have to follow since we really do not have any choice because they are the authority, they are the government.

[marcuslong]

in your country income from bitcoin taxed? state the country

In our country taxes of bitcoin is not implemented because government is not accept cryptocurrency . They keep reminding those people who are using this kind of transaction that its definitely a scam . But if government wanted to accept for this kind of cryptocurrency in a community was usually amaze people in how it works . Taxes of bitcoin has a great help To improve our economy grow and prepare for crisis and also its for people sake such as roads reworking, infrastructure,  schools and commodities of people who are less fortunate.

[Rafar8]

in your country income from bitcoin taxed? state the country

Russian Federation

With each sale bitcoin will need to pay personal income tax at a rate of 13%.

That is, if you bought 30 thousand bitcoins and sold for 60 thousand, then the tax must be paid from 60 thousand and so on with each sale.
Moreover, if we assume the cost of bitcoin has fallen, and you bought for 60 thousand, you sell for 30 thousand, then with 30 thousand you will also have to pay personal income tax.

The need to pay taxes in such amounts is due to the uncertain nature of bitcoin (whether it is money, or the right of claim, such as shares).

The lawyer also noted that frequent deals with bitcoin will signal to the state that you are doing business. By law, this must be done only after registration as an individual entrepreneur, otherwise article 171 of the criminal code "Illegal business"

[boynegro]

any income from any field of business will surely be a regulation on taxation which is a duty which must be adhered to every citizen who occupies a country. samahalnya with the other adasebuah taxes that are on the bitcoin that I feel when I do a delivery of bitcoin assets that I have exchanged in exchange exchange in the local bitcoin wallet that existed in my country to be the official fiat currency that existed in my country. the tax deductions I feel when shipping my bank account number and not yet cutting when I will take the money from the bank. and I think it is the same as a tax imposed on bitcoin.

Tax is money that people have to pay to the government.

The government uses the money it gets from taxes to pay for things. For example, taxes are used to pay for people who work for the government, such as the military and police, provide services such as education and health care, and to maintain or build things like roads, bridges and sewers.

[donpepot]

in brazil there is no taxes for bitcoins.

Tax is the use of the government to grow well the country and help those poor people who can't afford living

[Sled]

in your country income from bitcoin taxed? state the country

In our country taxes of bitcoin is not implemented because government is not accept cryptocurrency . They keep reminding those people who are using this kind of transaction that its definitely a scam . But if government wanted to accept for this kind of cryptocurrency in a community was usually amaze people in how it works . Taxes of bitcoin has a great help To improve our economy grow and prepare for crisis and also its for people sake such as roads reworking, infrastructure,  schools and commodities of people who are less fortunate.

I think that your country needs to do a lot of research first and also be careful in telling that the cryptocurrencies are scam because cryptocurrencies are not scam because they are for real and they are here to help us in finding opportunity and also to give solutions to the current problems from minor to major problems that can be solved by the cryptocurrencies.

[Master Third]

Our government never ask tax from the governor, how will they do that if they don't give their support to it. The reason behind is they are afraid that this bitcoin can ruin the economy of the country. Because if they will going to support bitcoin many investors will go in to withdraw their investment or some part from it just to invest in bitcoin. It is possible to happen because investing in bitcoin is easy to get a high profit than in some legal aspect which are under the government but very law of making a return.

[SELENA703]

Hello there...so as per the question suggests, it is found out that in various nations, various laws are laid for the cryptocurrency. Likewise, in Britain,bgc is regarded as an asset...so capital gains tax needed to b paid when selling...to lower the tax rate, we should out the cash slowly...in another country like Spain,btc earnings are considered as stock market earnings...so as we earn 6 we have to pay 19% tax, for earning of 50, we have to pay 21%tax...we should in this case not hurry while outing cash...in this way we can lower the tax rate...in another country like Philliphines,it's being heard that the cemtral bank is planning to legalize btc and impose taxes upon them...India is too following the same path.

[wuvdoll]

any income from any field of business will surely be a regulation on taxation which is a duty which must be adhered to every citizen who occupies a country. samahalnya with the other adasebuah taxes that are on the bitcoin that I feel when I do a delivery of bitcoin assets that I have exchanged in exchange exchange in the local bitcoin wallet that existed in my country to be the official fiat currency that existed in my country. the tax deductions I feel when shipping my bank account number and not yet cutting when I will take the money from the bank. and I think it is the same as a tax imposed on bitcoin.

Tax is money that people have to pay to the government.

The government uses the money it gets from taxes to pay for things. For example, taxes are used to pay for people who work for the government, such as the military and police, provide services such as education and health care, and to maintain or build things like roads, bridges and sewers.

Normally, anyone who sees tax as a duty will really not have any issue; however, this tax problem is difficult for some people based on their corrupt government. Yeah, like you have said, it is very good for provision of services and infrastructures, and to always put some good structures in place, but how many of these countries normally utilize these taxes for all those things ?

I am not against tax, I am just against corrupt government which if I find myself in one, and tax definitely sucks since I do not get the value to the tax I am paying.

[Hans17]

in your country income from bitcoin taxed? state the country

For my country Philippines there is no tax on the bitcoin , because bitcoin not been implemented on our country , still governments and senators debating and still a lot to talk about if whether they will approved or they will not. Still waiting and hoping and also looking forward.

[okwang231]

here in the country we do not have the bitcoin tax yet because it is not yet known because bitcoin uses bitcoin but it does not make sense that the tax rate is not just a container until there is no thorough study or trial

[gamalzour]

in brazil there is no taxes for bitcoins.

Tax is the use of the government to grow well the country and help those poor people who can't afford living

I really hope most government are really using the taxes to help the general public and most especially the masses, not just to keep siphoning funds to make themselves rich. Tax is good in the literal sense if everything is actually going normal and the country is giving every citizen the benefits of paying those taxes, but in the case where things like this are not in place, I really end up seeing it as bullshit and I would rather leave my bitcoin in my wallet rather than paying taxes on them or even convert the tax to charity fund.

[boynegro]

Hello there...so as per the question suggests, it is found out that in various nations, various laws are laid for the cryptocurrency. Likewise, in Britain,bgc is regarded as an asset...so capital gains tax needed to b paid when selling...to lower the tax rate, we should out the cash slowly...in another country like Spain,btc earnings are considered as stock market earnings...so as we earn 6 we have to pay 19% tax, for earning of 50, we have to pay 21%tax...we should in this case not hurry while outing cash...in this way we can lower the tax rate...in another country like Philliphines,it's being heard that the cemtral bank is planning to legalize btc and impose taxes upon them...India is too following the same path.

A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.[1

[waskaplung]

Wow, many people in this thread needs to go watch "Hidden Secrets of Money" by Mike Maloney.  Taxes don't go to fix/improve anything.  Doesn't even cover the interest payment on debt owed by the governments to banks.  Crazy stuff here.  

https://youtu.be/23DNe0cJhcU

 

A failure to pay, or evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

[donpepot]

here in the country we do not have the bitcoin tax yet because it is not yet known because bitcoin uses bitcoin but it does not make sense that the tax rate is not just a container until there is no thorough study or trial

Most countries have a tax system in place to pay for public/common/agreed national needs and government functions: some levy a flat percentage rate of taxation on personal annual income, some on a scale based on annual income amounts, and some countries impose almost no taxation at all, or a very low tax rate for a certain area of taxation.

[Bitcotalk]

Our government never ask tax from the governor, how will they do that if they don't give their support to it. The reason behind is they are afraid that this bitcoin can ruin the economy of the country. Because if they will going to support bitcoin many investors will go in to withdraw their investment or some part from it just to invest in bitcoin. It is possible to happen because investing in bitcoin is easy to get a high profit than in some legal aspect which are under the government but very law of making a return.

Most of the government in most countries, even do not have the slightest idea of what cryptocurrency is all about and all they assume is that it is just another online money making scheme.

Over time, I am sure they will get to know just like the others and take a cue from the ones who are already benefiting from it. No tax yet on my bitcoin, but when that time comes, it is the law, and there is nothing anyone can do about it no matter how much they are displeased doing it.

[bitcoinmasterlord]

Our government never ask tax from the governor, how will they do that if they don't give their support to it. The reason behind is they are afraid that this bitcoin can ruin the economy of the country. Because if they will going to support bitcoin many investors will go in to withdraw their investment or some part from it just to invest in bitcoin. It is possible to happen because investing in bitcoin is easy to get a high profit than in some legal aspect which are under the government but very law of making a return.

Most of the government in most countries, even do not have the slightest idea of what cryptocurrency is all about and all they assume is that it is just another online money making scheme.

Over time, I am sure they will get to know just like the others and take a cue from the ones who are already benefiting from it. No tax yet on my bitcoin, but when that time comes, it is the law, and there is nothing anyone can do about it no matter how much they are displeased doing it.

No mate now this bitcoin affected all countries economy so everyone knows about this bitcoin. but they don't know how to put a tax on bitcoin users. in my country, our governament is finding the list who all involved in this crypto trading once they get the list they will take action against the users but what action they will take that we don't know.

[expless]

in your country income from bitcoin taxed? state the country

In our country taxes of bitcoin is not implemented because government is not accept cryptocurrency . They keep reminding those people who are using this kind of transaction that its definitely a scam . But if government wanted to accept for this kind of cryptocurrency in a community was usually amaze people in how it works . Taxes of bitcoin has a great help To improve our economy grow and prepare for crisis and also its for people sake such as roads reworking, infrastructure,  schools and commodities of people who are less fortunate.

I think that your country needs to do a lot of research first and also be careful in telling that the cryptocurrencies are scam because cryptocurrencies are not scam because they are for real and they are here to help us in finding opportunity and also to give solutions to the current problems from minor to major problems that can be solved by the cryptocurrencies.

Most of them in governance are really not that knowledgeable to know the truth anyway and they only say whatever comes to their mind so I am not surprised. If any government is calling cryptocurrency a scam as at now, then they really need a lot of schooling before they get left behind in the future. For my country, there is no law imposing tax on bitcoin yet, so I guess I just have to keep living and enjoying the moment until that happens.

[yaelahwall]

In my country have not yet applied the tax provision for bitcoin, the government is reviewing the legality of its use. so everyone like being in the room to get as much bitcoin without taxes. I do not know how long

[joms07]

Calculate Bitcoin taxes of capital gains and income for Bitcoin, Ethererum, and other alt- coins from trading, spending, donations / tipping and mining.

[chengyinoing01]

So far, there's no scenario of paying taxes for bitcoin or the revenue we get from bitcoins.

If people in most countries invest in bitcoin, the government will lose money. You might choose to collect taxes.

[hermae]

So far, there's no scenario of paying taxes for bitcoin or the revenue we get from bitcoins.

If people in most countries invest in bitcoin, the government will lose money. You might choose to collect taxes.

The government collects taxes from the employees, company owners, food, property, etc. Taxes are paid to the government to use for government projects for the improvement of our country. But in the Philippines, I haven't heard yet that the government is collecting taxes for bitcoin. Maybe not for now, but maybe in the future.

[gwapo.zylle]

No, bitcoin is not taxable in our country. Bitcoin is not legal nor illegal in our country. And not even the banks accepts bitcoin as a source of income. Maybe theres a time that they will implement that bitcoins to be taxed later.

Same here, in our country too it is not taxable. But bitcoin is very known and many people committed in bitcoin. We all know that bitcoin is useful. I noticed in other country they gathered information's how to make bitcoin stabilized. Aside from that their is no scenarios that their are tax in bitcoin and they pay for it. It is very safe in bitcoin too everyone can justify for that.

[highquA1]

There is no specific taxation for btc earning. it generally commonly falls under the annual income

[yanxuanyunshan4]

in your country income from bitcoin taxed? state the country

We don't have a bitcoin tax in our country right now. I think it should be taxed.

1; Sell goods for bitcoins. For example, selling a car for bitcoin is equivalent to a barter. If the party selling the car is an enterprise or an individual industrial and commercial enterprise, then it needs to pay business tax or value-added tax. If the seller is a natural person, do not pay taxes.

2; Natural person provides labor service in exchange for bitcoin. Bitcoins are neither cash nor physical, nor are they negotiable securities, so they should not be taxed.

3; If the company has bitcoin, it will need to pay enterprise income tax.

4. If a natural person holds bitcoin, it appreciates. No personal income tax is required.

5; Buy something else with bitcoin. Don't pay taxes.

[vergel24official]

Tax is good just imagine bitcoin gets taxed so it means it is legal and acceptable by a government. May be some of you it is not good but it is also a help to your country in having funds from taxation.

[Jazvebtc18]

in your country income from bitcoin taxed? state the country

In the Philippines, bitcoin has no tax because it is not recognize by our government. If the government will just know what bitcoin is and the ways how bitcoin do for sure taxes for bitcoin will be develop.

[Chrisjay29]

In the philippines no taxes yet. But there are many says it will be soon. Because many of our bank especially philippine bank accepting bitcoin. Hope it will because for me taxes is good. It help my country grow.

[thend1949]

in your country income from bitcoin taxed? state the country

Here in the Philippines, our goverment did not declare bitcoin as a legal or illegal so there is no tax to be impose yet because maybe i think at this time bitcoin is not really known in my country. Here in office alone very few of us are engage to bitcoin maybe it needs  two to three years more that bitcoin popularity will arise so that the goverment can possibly benefit to thru tax.

Yeah the government didn't regulate a tax for cryptocurrency even if they will never supported for this kind of an income.But we dont have to worry about that as long as our country didn't banned the banned the crypto currency and we will continue our earnings of it.

[Flor1982]

in your country income from bitcoin taxed? state the country

Fortunately here in Philippines our government is not yet imposing tax on our Bitcoin earnings maybe because Bitcoin here is not legal but not ban so we are not wasting this opportunity as our Central Bank is now moving to regulate Bitcoin which mean soon Bitcoin will be going to be a legal and we will expecting a future Bitcoin tax will be going to impose soon.

[untidyaudi4]

Nope i have to pay no taxes for btc earnings in my country Korea

[destroyer01]

Tax revenues are used for public services and the operation of the government,as well as the social security and medicare programs.As baby boomer populations have aged,social security and medicare have claimed increasingly high proportions of the total federal expenditure of tax revenue.

[goku1525]

Nope i have to pay no taxes for btc earnings in my country Korea

Paying taxes is too good in economy so that it will help children in a orphanage that no more families .It will guide them to have a better future in life and bitcoin also is there number one source of income to survive in the community.Taxes is great contribution for the sake of people let us hope that bitcoin will accept all over the world because I believe that it will help us a lot in terms of earning and providing our financials.

[lami siyang bayhana]

in your country income from bitcoin taxed? state the country

Here in the Philippines, our goverment did not declare bitcoin as a legal or illegal so there is no tax to be impose yet because maybe i think at this time bitcoin is not really known in my country. Here in office alone very few of us are engage to bitcoin maybe it needs  two to three years more that bitcoin popularity will arise so that the goverment can possibly benefit to thru tax.

Indeed. Bitcoin is not that common here in our country. The tax system has undergone major changes as of this year. Bitcoin isn't defined yet. Therefore, bitcoin is not YET taxed. I said YET because time will come, Bitcoin will start to become existent in this country. Same holds through with online stores, which are becoming rampant nowadays. That's why as early as now, many people can still benefit from bitcoins without worrying of being taxed by the government.

[WordDeckTuch]

I dont have to pay anything regarding btc in India; because no one evn knows that i am earning through btcs LOL

[algerianimminent5]

There should be a mild taxation in it so that a judiciary discipline may be enforced on it preventing any criminal actions

[zarados]

Indirectly. Although cryptocurrency has been banned from being used as an official transaction tool, governments in my country have not yet set rules on taxation of revenues generated from cryptocurrency investments. Although indirectly we still have to pay the taxes imposed by the exchange site that we use. Naturally, to open a business, be it financial-based and other services, of course they need permission, and every business must pay income tax every year. Ironically, the amount of value-added tax in my country is at least 5% and a maximum of 15%. If we withdraw money from the exchange, we are charged 1% of the total withdrawal. That is, we only pay a portion of the taxes that will be charged to the exchange.

[slashz9]

in my country bitcoin has not even been authorized but may be circulated, so the tax, ie income tax, such as monthly salary, delivery of goods etc.

[josh07]

maybe in other countries there is a tax bitcoin but here we have no bitcoin tax yet because bitcoin does not yet know someday if bitcoin is used to all likely to be taxed but today is not yet because it is not really familiar bitcoin in the philippines.

[tartecyst7d]

If we have to pay taxes for the earning what will be the difference between fiats and bitcoins?

[Rufsilf]

Since bitcoin is quite popular, and with the hope of someday making bitcoin legal to most countries, the government needs to get money from bitcoin as well because you might be rich but your country is having now a sort of a hard time. But the risk of having tax for bitcoin is the abuse of the government, they might give  a greater tax because bitcoin for a fact is really convenient to gain. But there's nothing bad about it.

[mikhaila2304]

in my country have not been taxed for bitcoin because in my country the government still can not legalize bitcoin