Bitcoin Forum
March 29, 2024, 01:27:28 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 [6] 7 8 9 10 11 12 13 »  All
  Print  
Author Topic: Have people been forced to pay tax over Bitcoin yet?  (Read 5444 times)
bajigur894784
Member
**
Offline Offline

Activity: 350
Merit: 10


View Profile
December 19, 2017, 05:16:41 AM
 #101

All I hear is that the "US Internal Revenue Service (IRS)",  The IRS says that bitcoin should be treated as an intangible asset or property and not a currency, since it is not issued by a country's central bank. The treatment of Bitcoin as an asset makes its tax implications clear.

The IRS requires bitcoin users to report bitcoin transactions of all kinds, no matter how small. Accordingly, each US taxpayer is required to keep a record of all purchases, sales, investments, or use of bitcoins.

*CMIIW*
1711718848
Hero Member
*
Offline Offline

Posts: 1711718848

View Profile Personal Message (Offline)

Ignore
1711718848
Reply with quote  #2

1711718848
Report to moderator
1711718848
Hero Member
*
Offline Offline

Posts: 1711718848

View Profile Personal Message (Offline)

Ignore
1711718848
Reply with quote  #2

1711718848
Report to moderator
1711718848
Hero Member
*
Offline Offline

Posts: 1711718848

View Profile Personal Message (Offline)

Ignore
1711718848
Reply with quote  #2

1711718848
Report to moderator
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711718848
Hero Member
*
Offline Offline

Posts: 1711718848

View Profile Personal Message (Offline)

Ignore
1711718848
Reply with quote  #2

1711718848
Report to moderator
svendoto23
Member
**
Offline Offline

Activity: 218
Merit: 10


View Profile
December 19, 2017, 10:04:01 AM
 #102

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

I didnt get taxed whenever i use my bitcoin for money remittance but it has a high fee. In the Philippines it doesnt have a regulated tax but it has a high amount of fee per transaction.

T r a x i o n                                                            TRADE AND EARN DURING PRE-ICO
TRANSITIONS YOU TO A CRYPTO-READY SOCIETY       Pre-Sale starts April 15, 2018
Github     Telegram     Medium     Facebook     Twitter     Reddit     Youtube
Saif Mughal
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
December 22, 2017, 11:15:34 AM
 #103

not yet but may be in future people were possibly forced for pay tax on BTH but not yet
Aristus
Member
**
Offline Offline

Activity: 280
Merit: 10


View Profile
December 22, 2017, 04:30:42 PM
 #104

As of now no one and seems that thing will never happen. As long as it is done online I don't think government can impose their rule for asking taxes from the Bitcoin community.
RavenHood
Full Member
***
Offline Offline

Activity: 294
Merit: 105


View Profile
December 22, 2017, 04:43:01 PM
 #105

Based on my experience I never have been charged or fine due to tax or any related fee. I think the government have not enough documents or no technical capability to track each user that profited from buying and selling bitcoins. However, they could be charged a tax to the trading platform company especially if that is headquarter in the United States. Given the fact that people will be tax, I think more people will look for a way to be completely anonymous to the tax collectors.  Smiley
futureofeth
Member
**
Offline Offline

Activity: 686
Merit: 10


View Profile
December 22, 2017, 05:33:55 PM
 #106

Already in some countries government are asking people to pay taxes on Bitcoin buying and selling. So if we pay taxes on Bitcoin trading then there is a huge chance to make Bitcoin legalize in our countries.

=====================================================
BILLCRYPT - CREATING HISTORY
=====================================================
Prinox2
Member
**
Offline Offline

Activity: 182
Merit: 10


View Profile
December 22, 2017, 07:54:03 PM
 #107

This is can only be possible in the countries that has legally accepted bitcoin under the terms and condition of implementing tax rule on bitcoin transactions. If this be the case, then just like in the normal currency, tax has to be enforced on every transaction as agreed by law. But so far here in my country, no agreement on bitcoin yet, as such, no tax enforced yet.
Mantisa83
Member
**
Offline Offline

Activity: 154
Merit: 10


View Profile
December 22, 2017, 10:13:17 PM
 #108

Maybe for some people, will be very forced if have to pay tax bitcoin. Because it will reduce their assets. But for me, to pay taxes, I will agree to that. But the tax is not too much-lots yes  Grin

I think that the bitcoin tax will be introduced soon. Crypto currency is a new currency. It is subject to settlement.
Mantisa83
Member
**
Offline Offline

Activity: 154
Merit: 10


View Profile
December 22, 2017, 10:19:22 PM
 #109

Already in some countries government are asking people to pay taxes on Bitcoin buying and selling. So if we pay taxes on Bitcoin trading then there is a huge chance to make Bitcoin legalize in our countries.
And what can it lead to? Bitcoin will not be profitable. Moreover, this will lead to a drop in value on the exchange.
superjeyy
Full Member
***
Offline Offline

Activity: 182
Merit: 147


View Profile
December 23, 2017, 02:46:15 AM
 #110

One of the advantages of Bitcoin is that it doesn't get taxed meaning you get the full worth of what you worked for. No government can meedle into what you have since they don't have any right to do so since there are no laws or any regulations established for the managrment or control of Bitcoin. Also where I come from, people are not so knowledgeable with its structure. So since they are not familiar with it, they don't do anything about it they just let it flow. However, the situation totally differs when you sold your Bitcoin and declare the money you've earned through selling. Exchanging large amount of Bitcoin can also lead their to curiousity. So maybe it is through these actions that people might end up having Bitcoin taxed.
Granxis
Hero Member
*****
Offline Offline

Activity: 1400
Merit: 536



View Profile
December 23, 2017, 04:56:33 AM
 #111

A government law is required to force the payment of taxes, in many countries the laws related to BTC are not exactly clear and valid. That is because these laws are uncertain for the time being, so it is unlikely to happen.

.
.Duelbits.
█▀▀▀▀▀











█▄▄▄▄▄
TRY OUR
  NEW  UNIQUE
GAMES!
.
..DICE...
███████████████████████████████
███▀▀                     ▀▀███
███    ▄▄▄▄         ▄▄▄▄    ███
███   ██████       ██████   ███
███   ▀████▀       ▀████▀   ███
███                         ███
███                         ███
███                         ███
███   ▄████▄       ▄████▄   ███
███   ██████       ██████   ███
███    ▀▀▀▀         ▀▀▀▀    ███
███▄▄                     ▄▄███
███████████████████████████████
.
.MINES.
███████████████████████████████
████████████████████████▄▀▄████
██████████████▀▄▄▄▀█████▄▀▄████
████████████▀ █████▄▀████ █████
██████████      █████▄▀▀▄██████
███████▀          ▀████████████
█████▀              ▀██████████
█████                ██████████
████▌                ▐█████████
█████                ██████████
██████▄            ▄███████████
████████▄▄      ▄▄█████████████
███████████████████████████████
.
.PLINKO.
███████████████████████████████
█████████▀▀▀       ▀▀▀█████████
██████▀  ▄▄███ ███      ▀██████
█████  ▄▀▀                █████
████  ▀                    ████
███                         ███
███                         ███
███                         ███
████                       ████
█████                     █████
██████▄                 ▄██████
█████████▄▄▄       ▄▄▄█████████
███████████████████████████████
10,000x
MULTIPLIER
NEARLY UP TO
.50%. REWARDS
▀▀▀▀▀█











▄▄▄▄▄█
Zadicar
Legendary
*
Online Online

Activity: 1288
Merit: 1018


Undeads.com - P2E Runner Game


View Profile
December 25, 2017, 08:56:44 AM
 #112

Based on my experience I never have been charged or fine due to tax or any related fee. I think the government have not enough documents or no technical capability to track each user that profited from buying and selling bitcoins. However, they could be charged a tax to the trading platform company especially if that is headquarter in the United States. Given the fact that people will be tax, I think more people will look for a way to be completely anonymous to the tax collectors.  Smiley
This is only they way that they would really to impose taxes by means on regulating exchanges because we do know that those exchangers would really need to comply some documents for them to operate which means government would really have an eye regarding on the transactions have been happening on their vicinity which they can really use out about paying up taxes but talking on individual paying up on taxes then its not possible same as you said it would really be hard to track someone who do earn bitcoin and made profits.

💀|.
   ▄▄▄▄█▄▄              ▄▄█▀▀  ▄▄▄▄▄█      ▄▄    ▄█▄
  ▀▀▀████████▄  ▄██    ███▀ ▄████▀▀▀     ▄███   ▄███
    ███▀▄▄███▀ ███▀   ███▀  ▀█████▄     ▄███   ████▄
  ▄███████▀   ███   ▄███       ▀▀████▄▄███████████▀
▀▀███▀▀███    ███ ▄████       ▄▄████▀▀████   ▄███
 ██▀    ▀██▄  ██████▀▀   ▄▄█████▀▀   ███▀   ▄██▀
          ▀▀█  ▀▀▀▀ ▄██████▀▀       ███▀    █▀
                                      ▀
.
.PLAY2EARN.RUNNER.GAME.
||VIRAL
REF.SYSTEM
GAME
|
████████████████████████████
████████████████████████████
████████████████████████████
██████ ▄▀██████████  ███████
███████▄▀▄▀██████  █████████
█████████▄▀▄▀██  ███████████
███████████▄▀▄ █████████████
███████████  ▄▀▄▀███████████
█████████  ████▄▀▄▀█████████
███████  ████████▄▀ ████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████▀▀▄██████▄▀▀████████
███████  ▀        ▀  ███████
██████                ██████
█████▌   ███    ███   ▐█████
█████▌   ▀▀▀    ▀▀▀   ▐█████
██████                ██████
███████▄  ▀██████▀  ▄███████
████████████████████████████
████████████████████████████
████████████████████████████
rhamzter
Sr. Member
****
Offline Offline

Activity: 420
Merit: 282


View Profile
December 26, 2017, 10:14:18 PM
 #113

Based on my experience I never have been charged or fine due to tax or any related fee. I think the government have not enough documents or no technical capability to track each user that profited from buying and selling bitcoins. However, they could be charged a tax to the trading platform company especially if that is headquarter in the United States. Given the fact that people will be tax, I think more people will look for a way to be completely anonymous to the tax collectors.  Smiley
This is only they way that they would really to impose taxes by means on regulating exchanges because we do know that those exchangers would really need to comply some documents for them to operate which means government would really have an eye regarding on the transactions have been happening on their vicinity which they can really use out about paying up taxes but talking on individual paying up on taxes then its not possible same as you said it would really be hard to track someone who do earn bitcoin and made profits.
That is only rumors, for now bitcoin is not required to pay tax because this crypto currency are not centralized. Even other coin or altcoins they are not need to pay tax because in other countries bitcoin is not legalize so their profit in bitcoin is not subjective for tax. In addition there's no clear rules regarding payment of tax in their income.
JPCRYPTO2012
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
December 27, 2017, 04:15:59 AM
 #114

I think no, because bitcoin is decentralized and no one people or no one country that can control bitcoin. This is what government is afraif of, cause bitcoin is indeed can't regulate by anyone, that's why their are countries that forbids the use of bitcoin cause they believe ,that they can get nothing in bitcoin and cannot help to their economic growth but rather than looking up bitcoin as threat. Theres a possibilities that bitcoin can be use to money laundering and hide wealths, tax evasion is possible as well. Maybe the bast way to regulate bitcoin is to create and legislate law that fit in cryptocuerrency to ptotect country's economy. Providing official exchanger will help. And impose additional fees to stands as tax fees. This is just my opinion.
marcbitcoins
Full Member
***
Offline Offline

Activity: 854
Merit: 108


View Profile
December 27, 2017, 06:20:38 AM
 #115

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

You dont need to be force to pay bitcoin tax but you'll be required to do so if bitcoin is declared legal in your country in which earning thru bitcoin will be subject to tax as per regulation rules and policies to the exchanges. This bitcoin taxation is acceptable as long all tax will be use directly to serve the people not to serve the pockets of corrupt officials.
darshansetty
Member
**
Offline Offline

Activity: 103
Merit: 10


View Profile
December 27, 2017, 11:14:57 AM
 #116

Yes if you want to go in a legal way then you should have to pay the tax on bitcoin for government
Bonakid
Full Member
***
Offline Offline

Activity: 224
Merit: 121


View Profile
December 27, 2017, 02:23:00 PM
 #117

For me,bitcoin is decentralized and no one can give a rule from it ,they cannot imposed a tax on it as long it was not legal in our country.But I think bitcoin has its own world ,a digital currency that we can only transact and not by anybody else who wants to hacks it,no third party allowed that was the rule of virtual currency,this is nit regulated by someone else so they cannot pay tax on bitcoins.
derkyerjer
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
December 27, 2017, 02:27:45 PM
 #118

These are some of the stupidest nonsensical replies I've ever seen. Are you all criminals? In the united states there is a 25% capital gains tax on all net profits from deposits made to crypto exchanges. And if you do not report how much you deposited into the exchange to begin with, your ENTIRE withdrawal will be taxed. Not fun huh? Hold the crypto for a year or longer and you fall under long-term gains which is anywhere from 0-20%.

Seriously, no Koreans on here? South Korea will probably be setting a capital gains tax similar to the US from what they decided during their emergency crypto meeting. Everyone talking like it's the wild west, wake up. This isn't 2010, the crypto market cap is no longer negligible, if you live in a 1st or 2nd world country that even allows crypto trading, the taxes are already on their way.
rockyfeller
Full Member
***
Offline Offline

Activity: 406
Merit: 101


🚀🚀 ATHERO.IO 🚀🚀


View Profile
December 28, 2017, 12:08:24 AM
 #119

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

It may depends on the exchange or jurisdiction of the country. but if the marketplace is decentralize it won't happen because bitcoin and altcoins are consider as Anon coin which are privacy! i hope the government will change their plan in the future. hope they can create coin that will help bitcoin to sustain its volatility

███  ████     BAANX  |  The Cryptobank Revolution     ████  ███
▬▬▬  ►  ▬▬▬  ANN  Whitepaper  Telegram  Facebook  Twitter  Medium  ▬▬▬  ◄  ▬▬▬
PRE-SALE IS OPEN!  ▬▬  Register for 100BXX!  ▬▬  Subscribe to our NEWSLETTER

mymenace
Legendary
*
Offline Offline

Activity: 1596
Merit: 1061


Smile


View Profile
December 28, 2017, 10:55:36 PM
 #120

beware the deception by gov and tax office

1) get you to admit it is an income

2) get you to admit what you use it for e.g. investment

3) then if you do not admit to any of that, they will make a determination and take your money



it is just your money nothing else, not your fault you have to exchange your btc into fiat to utilize goods and services, they should learn to accept your money




if all else fails do not forget to claim your lost coins as a loss, the value will be determined by the end financial year you decide to claim said loss

Grin
Pages: « 1 2 3 4 5 [6] 7 8 9 10 11 12 13 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!