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Author Topic: Have people been forced to pay tax over Bitcoin yet?  (Read 5138 times)
Ayston
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September 12, 2018, 07:22:46 AM
 #221

So far there is no publication concerning to it, only they put tax on the item you buy with Bitcoin in some country but I never heard a country forcing its citizen to pay tax for their earning in Bitcoin or crypto.
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KonstantinosM
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September 12, 2018, 07:37:17 AM
 #222

Well, Before 2017, bitcoin only had taxes on the exchange but there was no additional tax to hold bitcoin because it was not considered a property.

But after the success of bitcoin in 2017, the IRS has declared it as property. So now, because bitcoin is calculated as property, then, for all exchanges, mining, spending, trading or other activities will be taxed.

Where is your source on that?

I'd really like to know.

I think the IRS and the US government is general has been treating bitcoin as what is most convenient for their case at the time. We can really nail them on that on the future.

And along the lines of, you, the government has messed up, we can use the leverage to get more reasonable regulations. It really won't do any good to strangle bitcoin in a country anyway, because that country may be left behind.
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September 12, 2018, 05:13:23 PM
 #223

Not really...If you make BTC transaction from one wallet to another, no tax would be levied because of a decentralized anonymous transaction on the blockchain .I think that tax is not a compulsion because the tax is the duty of all of us as citizens, something we have to do and we have to pay, wherever you live, the tax will still apply, if yes bitcoin has already been taxed it means there has been a response from the government about bitcoin.
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September 12, 2018, 11:47:03 PM
 #224

I think the only thing the criminal mob who calls themselves "government" (much like that mafia, yakuza, triad etc...) can do is make a few examples of people and hope that the threat of force and fear of being kidnapped and locked up in a rape camp is enough to force the majority into compliance.
This will not work of course, as long as their is a decentralized ecosystem, there will be people smarter than those who rely on the threat of force to extort you.
New methods to avoid criminal governments attempts to rob us will become mainstream and the oligarchs will fade into oblivion along with their counterfeit fiat fractional reserve monetary system.

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September 15, 2018, 09:03:48 AM
 #225

Not all countries apply regulations and taxes on cryptocurrency, in my country, it is still quite open to trade and transact bitcoin, but the government remains supervised although it has not been regulated for taxes and other regulations. maybe in your country, regulations have been made, and taxes have been set, I am curious about that. as I know, many have banned and made bitcoin illegal.

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September 19, 2018, 12:16:14 PM
 #226

Not really...If you make BTC transaction from one wallet to another, no tax would be levied because of a decentralized anonymous transaction on the blockchain . But soon you want to bring profits of your investment in your bank account through an exchange, it will ask for KYC which include all your necessary documents which will help to evaluate the tax on you.
The taxation usually in terms of what the law provide, since  crypto currency has no concrete policy that  will  guide on cryptocurrency taxation because it is a P2P transaction in the  transaction will hide the identity of individuals who did  the transaction. The only taxable means is the transaction to some legit exchanges establishment that is permitted by the government to operate.

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September 21, 2018, 08:08:36 PM
 #227

no coercion means, the tax has not arrived at the calculation of income tax, and is still limited to VAT on the foreign exchange market in their country. it is not a big problem, but if applied widely, they must regulate bitcoin at this time and support its development legally. this is not speculation from real news because it is still a rumor.
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September 22, 2018, 06:47:12 AM
 #228

Here in India, last year the income tax authorities sent notices to more than 100,000 Bitcoin users asking them to pay income tax on their profits from Bitcoin. I don't know how many of them actually ended up paying taxes.


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September 22, 2018, 07:23:15 AM
 #229

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
Then what would be the benefit of crypto over fiats then?

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September 22, 2018, 02:07:58 PM
 #230

So far there is no publication concerning to it, only they put tax on the item you buy with Bitcoin in some country but I never heard a country forcing its citizen to pay tax for their earning in Bitcoin or crypto.
Yeah I've never heard of it. after all, how does the government do that? whereas they don't know who uses bitcoin? even in my own
country there isn't any tax even though you use bitcoin to shop, maybe the situation will be different in the next few years?

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September 24, 2018, 03:00:36 AM
 #231

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
Then what would be the benefit of crypto over fiats then?

Tax evasion is not supposed to be one of the benefits of crypto (I am not a big supporter of taxation, so I wouldn't be too upset in case you use crypto for that purpose). But under current circumstances, I would advice you to pay taxes in cases you owe them. Why risk a heavy fine and a prison sentence?


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September 24, 2018, 06:32:32 AM
 #232

I think people are not forced to pay the tax because they have bitcoin or they are making a transaction with bitcoin, and so far, we can free to convert bitcoin to the fiat. But I think if there is any regulation from the government about using bitcoin as for the transaction, and they apply the tax for us, then we should obey the rule and we need to pay the tax. I guess that the tax is not too big depends on the money we've got so I think it is okay if we need to pay tax for using bitcoin.
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September 25, 2018, 01:32:10 PM
 #233

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.
In some countries there is special tax that you must pay from earnings from internet or even there is special law for crypto but in most of the cases there is tax that you must pay from your income.

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September 25, 2018, 03:33:17 PM
 #234

Many people have resented to the payment of taxes on the bitcoin income. And they are also right in doing so. They have their own reasons to support their points. And the governing authorities have their own reasons to support their claims of taxation.

But there is one thing for sure you cannot force anything upon free citizens. Any way or other they will find the ways out to evade the taxation regime and will escape from the same.

P.S.: Nothing in the bitcoin market is stabilized aas yet, so it is difficult to say anything with surety!
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September 25, 2018, 03:35:13 PM
 #235

I don't think I ever paid tax for bitcoin directly to the country, but I guess by withdrawing using Bitcoin ATM's I did, they have a TAX fee aswell which I think (?) goes to the country aswell? But by just transferring I never did, thats the beauty of bitcoin Cheesy
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September 25, 2018, 05:32:18 PM
 #236

It depends upon the country which you resides many countries legalised bitcoin without any tax. Few countries announced bitcoin as illegal this is because they afraid people use it for illegal purposes. But still there is no tax for bitcoin in many countries. For bitcoin transaction from one exchange to another we have to pay transaction fees. If tax is announced means then the economic growth of the country will be very good. So in future we can expect all countries put tax for bitcoin.

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September 25, 2018, 07:19:54 PM
 #237

In Slovenia people not, but companies for sure: standard 19%.
senin
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October 01, 2018, 05:04:45 PM
 #238

It's very, very hard to force someone to pay a tax for Bitcoin when it's hard to determine if the person is even using it or not. I don't think there has been any situation of such sort.
Of course, it will be very difficult for tax authorities to determine the amount of tax to be collected from citizens. Apparently, the state will oblige all available exchanges and exchangers to introduce identification when making transactions with the crypto currency and submit this information to the tax authorities. Otherwise, citizens will pay taxes on income from crypto-currency very reluctantly.
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October 01, 2018, 05:52:37 PM
 #239

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

Most of part of the world and in different Countries Crytocurrency is unregulated unlike in japan a well known first world country that most of the merchants out there are accepting crytpo currency (Bitcoin,eth,etc.) as a way of payment, and most of the employees in specific work areas are receiving crypto salary and crypto currency is regulated so as the role of government, people who has a big amount of salaray of Crypto is not excluded in tax regulation.

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October 02, 2018, 03:44:08 AM
 #240

I think people in some countries are forced to do that but they are doing clever moves to avoid it. I've heard some people who are evading their obligations and not stating their income on cryptocurrencies. And another thing is that there is still only few who make profits on crypto so their government are still not serious about it.

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