do you guys pay Taxes for profit?

[bamita129]

For whom should I pay taxes? I buy coins in other country, sell them in another and cash I get in a third country. And all these countries are not the state where I am an resident. I am not an American. So I don’t pay any taxes for my profits.

[vvfvcxl]

I think it depends on the country. If the price requires us to levy taxes, I think we should pay taxes in accordance with the law, not thinking of escaping.

[vladaziya1]

No, I did not use it at all, since this can be done by myself, because it's not so difficult. Maybe for some it's not acceptable.

[Milamol]

I earned a little in crypto. I think that the tax office have not interested in me. When earnings become significant, it is possible that the relevant laws will be enacted and I will know what to do.

[calinguyen]

Interesting question. Until now BTC is not legal in my country so I dont need to pay Taxes

[asd9znnn9999]

If you are dealing with a huge amount maybe that's the time that you really need an expert for that. But if you can really trust yourself with those transactions and been studied that, so it's up to you

[yerger]

I don't know where I can pay Tax in my Country. Maybe it because I still college and I don't know anything about tax or anything like that. For now, I think i just keep my money, but I often pay zakat with my profit from crypto.

[Jeepney_koh]

Hi.

i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.

however i think it's an issue need to be dealt with.

1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's

WHAT SHOULD I DO??

Situation depends on the country you reside. If you want an accurate and more reliable answer, I suggest you specify or tell your country. In my case, because I only encash minimum amount, I usually dont pay tax.

[HighlanderMonk]

I live in Russia, and in this country full of corruption, the government have no clue what is cryptocurrency. So we dont pay any taxes for now.

[shaheer001]

It depends on country rules about taxes on fiat and crytpo currencies. So if you leave in such country where taxes are implemented on crytpo currencies then you must pay it,But the country yet not has/have any rule about crypto currency trading then you are still free.

[alttry2019]

Of course. This is what we should do. But we have to earn profit first.

[k-west]

No I dont pay anything and I dont think I am gonna start doing it.The one of the benefits of crypto is  its anonymity and nobody can make you report about your funds and trades.It is even funny.

[liseff3]

In the world of cryptocurrency, everything isn't that difficult to run and easy to do we do not need a third party called "Accounting Services" because the business of cryptocurrency can be done anywhere and anytime, even if only with a Smartphone.

Until now I have had some tokens from ICO, I have not sold anything yet instead of waiting for the right time.

I will pay taxes if the government can give a sense of security to us of course as a crypto user in the country.

[shaun98]

 At the moment I do not. I think in my country, I will only need to pay for taxes if I withdraw my tokens into fiat

[romero121]

Paying taxes for the profit is up to the users personal. Some governments clearly quote with the tax to be paid for each and every earning that happens related to bitcoin and cryptocurrencies. Taxation is the one that has lead more governments focus upon the regulation of using cryptocurrency.

[laelyy212]

There is nothing bad paying taxes for profit, since it will bring income revenue into your account, and apart from that it even make sense to pay taxes it give freedom  from tax authority

[bunny0612]

In my county, there is no tax law on crypto yet. However, if detected, it will be punished by money. So when I change crypto to fiat, I have to deal with not too large amount to avoid detection.

[Natusik]

Fortunately, in my country, in Ukraine, has not yet been taxed operations with crypto-currencies. But I personally have operations for small amounts, so in any case, i think that they are not interesting for the state

[bamita132]

Try not to deduce in Fiat large sums per person, break up into small amounts and use the help of family and friends!

[elnykate]

In my country, the law on the crypto currency is not adopted. And there is no provision for paying taxes in this area. But I will be forced to pay taxes in the event that the law is passed.