Government put on tax on bitcoin

[tomir]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

I agree that the profit will decrease. But there is a positive factor - you will work legally, that is, the state will not be able to bring you to administrative or criminal responsibility.

[takose46]

I think that might happen but not now so do not worry about it. No government has imposed taxes on it. at least not in the shortest time.

It's like a double-edged sword. The government can not levy bitcoin, which makes bitcoin more and more invested and tax evasion, but bitcoin can be banned by the government for being uncontrollable. and when banned by the government. There will be a series of strong measures that will directly affect the bitcoin value. We can see that the Chinese ban on ico has caused bitcoin to drop by 10% within a few hours

[Magkirap]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

I think the people will not like this idea to happen. What made bitcoin special for me is that it is decentralized and it is free from any political influences. But then if the government did not favor the cryptocurrency industry, it will not last long I think. If only the government can acknowledge the block chain technology without trying to take control over it, then may be our society will accept this innovation finally.

[saruxanyan]

It is not good to put a tax on bitcoins. Basically, the government receives wages from the taxpayer's slot, and they do not spend money as people wished, and money that was taxed also did not reach people. But all the same, we understand that any state wants and will levy taxes from the crypto currency

[jcemos9bt]

That we never happen because because there is a way the system is program that can never work with any government because is not them that create bitcoin but if bitcoin try to work with the government meaning it will go down, but that can never happen.

[gordeevaverona]

We must remember that Bitcoin appeared as the International Currency of the World and is not associated with any one national state currency, therefore gives him some flexibility to work on his own terms through the ICO and other large investors. But every state will still find a way to levy taxes with citizens who earned a bitcoin or altcoyinah

[aljun107]

One of the bitcoins perks is the very cheap and not expensive tax rate when it comes to trading. So putting tax on it would really affect its reputation directly. Most of its user will also complain about it.

[chel123456]

Yes it can be happened nothing is possible if our Government want but it take long time because it is not easy to have regulation about bitcoin tax.

[loicuagio1979]

Azerbaijan to Tax Crypto Incomes and Profits
"Gains from cryptocurrency transactions will be taxed in Azerbaijan, according to a high-ranking official from the Tax Ministry. Authorities in the energy-rich nation intend to tap into both corporate profits and personal incomes. The country has previously taken a conservative stance on cryptocurrencies but the focus on taxation now signals a change in Baku."
“Incomes from operations with cryptocurrencies will be taxed. Formally, this means – corporate profit tax for legal entities, and personal income tax for individuals,” the Tax Ministry’s representative stated. “If someone bought cryptocurrency and then sold it at a higher price, that amount must be reported as income and subjected to taxation,” Imanov explained.
Source: https://news.bitcoin.com/azerbaijan-to-tax-crypto-incomes-and-profits/

i think that the maximum tax code (25%) is acceptable in comparison with other countries. And it's a giant step of Azerbaijan government to gradually accept cryptocurrency

regards

[carlisle1]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

Why you people are so afraid of taxation?since this is our obligation for our making an earning here?i think you need first to realize that if a regular job that only giving you small income then what about here that good profit is what we are earnin.

[main320]

The administration's expense authorization of bitcoin is exceptionally hard to acknowledge on the grounds that the legislature has its own guidelines of money in their particular nations thus far they generally screen the development and improvement of bitcoin on the economy in the nation. On the off chance that they prevail with regards to getting the best answer for this bitcoin then the standards they make ought to be painful for the two gatherings ie the group and the legislature not to the run are unfavorable to one gathering.

[megalith07]

They can't forced tax on it unless they will legalized it in each nation. In any case, BTC is decentralized nobody can gave a control by it. Its a long due process before they thought that it was legitimate. On the off chance that they forced tax on it will influence our earnings in each component of it that we take a shot at.

[bentong talong]

I think that might happen but not now so do not worry about it. No government has imposed taxes on it. at least not in the shortest time.

If ever that the government officials will put a tax on Bitcoin; it will result a big impact to all cryptocurrency users. Some will accept it but most of the people will definitely get mad.

[jayarbillones]

for me Tax is a prerogative of the government. If they so be it. Trading of cryptocurrency there is no different from Because they will not allowed government to put tax, because bitcoin is private.other business that pay taxes.

[Enijesiku Sulaimom]

I single handedly disagree with this on the view that this is going to be extremely hard to achieve due to the decentralisation project that inevitably developers in blockchain are aiming for in the cryptocurrency market place. We must remember that Bitcoin has surfaced as an international currency of the world and isn't linked to any of the  country currency, therefore giving it a certain flexibility to operate on its own terms through ICO's and other large whale investors. The government of a country would legally have to claim right on the currency working in its own dormain and pass appropriate legislation through their parliament for this to happen. In that case it will be very difficult to put tax on bitcoin and others

[sk700]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

many countries will put taxes and fees over bitcoin which is very much effective and important in currency world. in this regard bitcoin will be stable and fleaxible.

[Hypnosis00]

If the Government will put tax on bitcoin, then they should also legalize bitcoin because they are already putting bitcoin as a part of the country's economy and the country will gain more money from bitcoin so they should also consider it to be used by other people in the country.

[cordlesslake]

We do not delude ourselves. Taxation will come sooner or later even in cryptocurrencies. I have read that in the United States the government has already recommended to indicate the earnings in cryptocurrencies in the tax return and all the other governments will find a way to tax such a rich market.

[Vz Ketua]

Indeed, if viewed in terms of revenue will harm us. If you look further it will benefit us, because the government will legalize Bitcoin and we will be free to transact without fear of any prohibition.

[@Hakermania@]

Also I am convinced that the time will come to pay the taxes on the btc. I hope that the government understands the difficulties of this market, the risks and the time needed to obtain a result and decide for a fair taxation.