Bitcoin taxes.

[karamoris]

There are some countries where you don't have to pay any taxes ..
https://coinsutra.com/tax-free-bitcoin-countries/

[1715491914]

1715491914

[soham]

There are few countries in the world, where you don't have to pay income taxes. But for bitcoin, I don't think these countries have made an official announcement that bitcoin transactions and incomes will not be taxed. These countries are just probably too ignorant about bitcoin or not sure what to do with it. That is the reason why they have not yet come up with a proper framework for bitcoin users. However, with the way bitcoin is progressing, I am sure a lot of countries will come up with a framework for their citizens in 2018. The only risk is about their stand on the matter of bitcoin. They will either be legalizing it or ban it.

[jbautistangina]

This just insulting to us,decentralized currency will be receiving taxes?cryptocurrencies was created for our freedom of transacting to others without any taxes,to have anonimity in every transactions we made!i hate the banks because they will push this to our limits its morelikely getting more regulated in few countries right now like china and korea,everything should be followed to the original code if bitcoin which satoshi's really intended.

[Shrinath]

Since the world saw the whopping 1500 per cent upsurge in the value of Bitcoin in less than a year, it automatically suggests that cryptocurrency has become the top choice for many investors. As in many countries, millennials anxiously talk about tax-free crypto countries and taxation laws of their countries, these millennials, just like you and me, are also Bitcoin or crypto investors and HODLers. Hence, legal loopholes around the most popular cryptocurrency has been of prime importance for tax authorities.  Even though Bitcoins are not specifically mentioned in the income tax act, Bitcoins are assets which are usually owned so holder can gain from an increase in its value. In that sense, they acquire the definition of capital gains. Which is a wide definition as per the Income Tax Act. Since, One needs to pay tax on profits made from investing in Bitcoin. One should declare the income while filing taxes.

[gamechain]

Since the world saw the whopping 1500 per cent upsurge in the value of Bitcoin in less than a year, it automatically suggests that cryptocurrency has become the top choice for many investors. As in many countries, millennials anxiously talk about tax-free crypto countries and taxation laws of their countries, these millennials, just like you and me, are also Bitcoin or crypto investors and HODLers. Hence, legal loopholes around the most popular cryptocurrency has been of prime importance for tax authorities.  Even though Bitcoins are not specifically mentioned in the income tax act, Bitcoins are assets which are usually owned so holder can gain from an increase in its value. In that sense, they acquire the definition of capital gains. Which is a wide definition as per the Income Tax Act. Since, One needs to pay tax on profits made from investing in Bitcoin. One should declare the income while filing taxes.

The issue of digital currency taxation is one of the major obstacles to its popularization. Bit similar to gold, want to tax only for real currency transactions tax.

[RudeeTam]

Well, even if they don't pay taxes now, there a very good chance that they will in the future since bitcoin is such large economy in itself. People all around the world are trading in it and not just per country. The bigger the income, the bigger the tax, the richer a country can be.

[hgkcoin]

This just insulting to us,decentralized currency will be receiving taxes?cryptocurrencies was created for our freedom of transacting to others without any taxes,to have anonimity in every transactions we made!i hate the banks because they will push this to our limits its morelikely getting more regulated in few countries right now like china and korea,everything should be followed to the original code if bitcoin which satoshi's really intended.

I do not think so, because bitcoin is taxed for so long that it is recognized as a mainstream step toward Bitcoin. If it is not officially recognized, then how can it become a currency of circulation and how to make those people believe use. Government officials sometimes find it useful.

[feny.blackpink]

i think bitcoin shouldnt taxed.
why they ban it if they taxed it too.

[ezbreezy08]

i think bitcoin shouldnt taxed.
why they ban it if they taxed it too.

There's no bitcoin taxes but they exchange wallet or platform are going to issue taxes and most of our governments rule about this taxes. So it will help the economy to grow and make a huge profit from getting taxes in an exchange.

[ipanks]

I think we don't have to pay taxes for using bitcoin and I don't see the country that applies taxes for the people which using bitcoin. but maybe in the future, if bitcoin is accepted in that country, the taxes will be applied too. but I think bitcoin which is not control by any government so we can freely use bitcoin without pay the taxes. maybe the government taking the taxes from the withdrawal that we make from bitcoin to fiat.

[jhezmark]

Bitcoin had no taxes thats why some country banned the bitcoin because they didnt pay the tax .

[AlwaysJanuary]

It is all changing