Bitcoin to be Taxed......

[Doell]

no matter what taxes I'm asked to give the one I got over 3 bitcoin a month the tax is at least 0.001bitcoin well better taxes to get the legality of the country taxes must be in place so bitcoin keeps the price stability

[Oceat]

how shoul this work? since btc works anonomusly peaople cpuld just claim other income sources, which does not mean I expect them to. But Bitcoin works like it this, including the maximal value increase BECAUSE it isnt controlled by government?!
Am I not right?

greetings

Maybe they mean to say is those exchanger in their place is taking too much taxes  for bitcoin. I have no problem with taxes but it should be balance and not like some kind of overpaid just for the tax. I don't know why they had to do such taxes it's like they should have ban bitcoin in their place. The government is taking too much for those bitcoin users in their country, this might be some serious business going on in there.

[BitcoinRapid]

I think the US government is quite a bit of time away from taxing btc straight up. They will continue to just tax it when converted to USD as much as they can.

[jekjekman]

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

They can't tax the bitcoin's transaction itself since it is somehow anonymous.
But they can apply appropriate taxes on the exchanges once you converted your coins to fiat.
Since it will reflect as an income Government can apply those taxes.

Just hope that they will have a fair and balance taxation system for this.

[KuromaYoichi]

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

They should tax the exchange if they want to gain something from bitcoin and i feel that the user won't mind that much if their withdrawal or trading fee increase a little bit. Taxing the transaction is not good because people already pay transaction cost.

[Hell-raiser]

^
Wait, taxes on bitcoin? And how they are going to tax bitcoin? Would you pay tax in satoshi or what?
As far as I know they can't tax bitcoin, but they can make you pay tax only if you exchange bitcoin to real money and you will pay tax on money, not on bitcoin.

But isn't that essentially the same? In my view, it is just a matter of convention. If you pay a property tax, does it mean that you should pay the tax in bricks or stones or whatever your home is made of? With the property tax, you don't even have to exchange your property for fiat, you just have to pay the tax simply because you own some property. Why can't it be the same with Bitcoin?

[kevpantof]

in the news tv stated, the official meet up on yesterday world event talking also about Bitcoin as an alternatives payment. Also talking about the powerfull of Bitcoin and some country also declined that as a alternatives payment gateaways

Bitcoin is the best alternative of payment. As far as tax is concerned, I think it will only be possible when the government will declare bitcoin as legal. Till that time, there is no way that the owners of bitcoins will be asked to pay the tax for holding of bitcoin.

I think this is why it is gaining this much of fame amongst the people in such a short period of time. There is no worry to pay tax.

I think this idea for taxes has been around long time enough, maybe with the tax to bitcoin users it could make the government want to legalize bitcoin but the worst thing is bitcoin will not be a decentralized and anonymous currency anymore, it will disappear and bitcoin will be controlled by the government as well as its users, you want to this happen mate?

Taxes are good for the development processes in the region and as soon as all the countries will accept bitcoin they will sort out how they can trace this and anonymous factor will be sorted out soon and this thing will give huge development and progress to all the regions because taxation on this ill also give eases to the government and on top of it government will be happy to collect tax in this precious coin.

[eminemcookie]

It will be interesting to see how governments go about trying to tax bitcoin, realistically the most likely is just to put high taxes on exchanges etc and then also tax people when they convert bitcoin in to USD/some other currency.

[palle11]

Having the idea of tasking earnings from bitcoin or cryptos as the case maybe is also having the idea of legitamating the crypto word.

Obviously, "you can't reject a meat and yet you use your teeth to split or divide same meet to share to people ". This amounts to deceit,  therefore, tasking is tantamount to acceptance or legitimate.

[Adam]

I heard of it several weeks ago. Still consider it as a fake

[Ultegra134]

I think the US government is quite a bit of time away from taxing btc straight up. They will continue to just tax it when converted to USD as much as they can.

That's the only way I can think of to get it taxed, I'm withdrawing BTC using my debit card, after withdrawing from exchangers, thus, I could easily get taxed.. I don't think the governments can do something right now to start monitoring the usage of Bitcoin, unless they start accepting payments for taxes and so on. There are more than a few ways to withdraw Bitcoin into Fiat without being "seen", such as 1-1 selling.

[fruitybatman]

Eventually, I believe it will be taxed everywhere. It will have so much use that governments will do their best to tax it.

[Zabrielle]

Anything that you earn either self earn income is taxable. That is based of what i read. So if you are earning through working in bitcoing therefore its taxable. I think it will belong to your gross income and is subject by tax if im not mistaken. But please do correct me if im wrong.

[yusupjatigumilar]

Perhaps if the state implements taxes on each country's transactions it will earn more income, and it can be used for economic development and bitcoin in the country itself.

[alisafidel58]

I think south korea doesnt have the right to tax bitcoin because they dont even own bitcoin,im just sad about people who lived in south korea who uses bitcoin.
Bitcoin made so that peoples money wont be govern and ruled by the government.

[bristlefront]

If the government recognized bitcoin, of course they will be aware of it. They first ban it but since they can't control the users using bitcoin in an illegal way then there is no choice but to tax it. A more balanced decision rather than banning it. Making both sides benefit but the only unfair thing is when the tax is way to high.

[@prashant]

It was known outcome,as some country are accepting bitcoin so they will consider it as capital gain asset and tax it.but at least they are accepting cryptocurrency.its a big thing for crypto community.soon other countries will start accepting it as blockchain application spread across.

[BTCevo]

if government is to accept bitcoin as currency, then surely they would issue tax since some of the government funds comes from currency then people have and if people will change their currency to bitcoin, then bitcoin would be taxed.

Nope, there is no way bitcoin are going to be taxed because there is a limit with the coin. Compare to the fiat, they can keep making it which is if there is more fiat then you will lose your money value and that will make your country economy clash mean while bitcoin, government can't produce it and everyone is holding their own coin so how can they control and making taxed with it? It does not really added up

[stomachgrowls]

if government is to accept bitcoin as currency, then surely they would issue tax since some of the government funds comes from currency then people have and if people will change their currency to bitcoin, then bitcoin would be taxed.

Nope, there is no way bitcoin are going to be taxed because there is a limit with the coin. Compare to the fiat, they can keep making it which is if there is more fiat then you will lose your money value and that will make your country economy clash mean while bitcoin, government can't produce it and everyone is holding their own coin so how can they control and making taxed with it? It does not really added up

Not only that which come to think off that bitcoin is a decentralized stuff and they cant directly impose taxes on it which means they would rather choose up or redirect on the services being used by bitcoin.This is why most government doesnt really like bitcoin overall not only on the thing that they cant tax but also they are seeing on the potential criminality increase because of its anonymity.

[Icaraswipeout]

As some others said, Taxation is the ultimate recongition for Cryptocurrencies.

Laws can be made and unmade.

But once a state starts to have a new source of income, it will immediately spend in on state services or debt repayment.
So it will be almost impossible for to give it an end.