do you guys pay Taxes for profit?

[qwertyup23]

As long we are talking about small amounts i don't think it's a problem....

if you have big amounts to convert i think you consult a accountant.

Regardless of the amount, if the law on your country has clear provisions regarding the taxation of cryptocurrencies in general, then you are subject to comply regardless of the amount. But if there are no laws pertaining to cryptocurrencies and taxes, then you are not liable of anything. There is no crime when there is no law punishing it. Assuming that there is, please do not attempt to evade or to create any shenanigans since it might create a stigma that would further put cryptocurrencies in a tight spot which can ultimately affect everyone.

[evdoksi]

Yes, I always pay my taxes on profit for my crypto investment. Government in my country is after defaulters and is sending them notices.

[Micerker]

All information related to Altcoin or tokens is paid after the end of ICOs in the form of anonymous encryption. So if you do not declare symbols that you own, then you do not need to pay tax only if this is required in your country.

[r0nin87]

In my country, taxes are not taken into account for the crypto currency, so we do not pay them.  I represent also for koiny paying taxes this will be the complete opposite of the idea of ​​the crypto industry

[tahsanabir]

I am still new in crypto I have no idea.

[Hallmader]

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??

I am not paying any tax for my profit. Profits are not coming everyday after all. Sometimes, there are losses instead of profit. I also don't use accounting services. I don't have much so such kind of service is not needed for me. I have participated in a few ICOs before and I gained some profit but I did not take a portion of it to pay the taxes. Crypto is a step away from the government.

[Makka]

As far as I know it differs on each country's laws and regulations. But mostly the exchanges are the ones paying taxes. The charges per trade incurred will taxed for sure as that is the source of income on our trading exchanges. On other exchanges that converted fiat to crypto there are  gaps between sell and buy and that is where they get profit which will be the basis of their tax.

So crypto is not really an evasion of tax as things are just the same with forex trade (which is actually purely margin trades and well manipulated by market makers serving their banks).

[ngacengan]

in my country I do not need and do not have to pay a profit tax when I benefit from trading bitcoin or altcoin because I think you also do not have to pay taxes bitcoin is an asset you do not want to pay taxes from trading profit bitcoin.

[youngmom]

In my country we did not pay taxes when it comes to bitcoin because they believe that crypto currency is a scam, I don't know where they get that information.But they start to get research about it.

if I were you of course that's a good thing. because with the government thinking this is a fraud, then they will never get a share of us while earning profit in bitcoin. and in short our income will be intact because it is not taxable

[bitcoinforus]

In Russia it is very easy to exchange cryptocurrency for cash and no one will know about it! Accordingly, you will not need to pay taxes! I think in many countries it is possible. On the stock exchange LocalBitcoin there are different offers on the exchange for cash!

[L00n3y]

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??

It depends on you if you declare your profits in cryptocurrencies to be taxed or not. Good if you do because you are helping your country's economy to grow but personally i would not. In my country almost every commodities are being taxed and manufacturers are passing this taxes to us, the consumers.

[Kennyflex]

You should follow the regulation in your country so wont have any problems in the future,U.S citizens are required to pass their taxes but if your country doesnt require to pay taxes just like in my country where there are no regulations yet,we are freely to get our money without paying taxes,but eventually if  my country requires it i will pay so there will be no problems in my part.

[Bitcoinislifer09]

As long we are talking about small amounts i don't think it's a problem....

if you have big amounts to convert i think you consult a accountant.

Definitely not. I dont think that government taking action about this maybe theyre not still know what bitcoin really is and its features. But maybe if they recognize the goodness of bitcoin they will take advantage of it.

[Mercedes1107]

In my country there is still no legislation in this regard, and therefore users of cryptocurrencies can still enjoy the advantages of being located in a sector of the economy where a legal vacuum prevails.

However, the legislative chambers have already approved a law that aims to regularize the use of cryptocurrencies that has not yet fully entered into force, but it is expected that within a few months the central bank will issue the corresponding provisions that would make cryptocurrencies regulated crypto assets, but still not notice a significant change in their tax treatment

[leynylaine]

Taxes aren't a thing in crypto because we are all here because of so called profits from hardworks in trading, bounties, and such.

Taxes are something work-related whether private or under government companies which you work for monthly payouts or salaries.

[Captainluffy24]

I never had an experience with taxes in my country. However, i know that there are lots of countries noe that has a regulation with crypto so they surely know how to apply tax.

[Coingram]

I Don't pay any taxes, not yet. Hope its not gonna happen in the nearest future. These corrupted mazapuckers always want to get some $ from us.

[phungkien144]

If you want to share your income with your country, so why not?  Most traders are happy because their governments haven’t issued any tax policy as to crypto yet.

[sultanali]

At this time there are no rules for cryptocurrencies in my country so I am not eligible to pay tax for that but when my country make some rules on cryptocurrencies then I will definitely pay taxes from The Profit which I will earn

[nemey]

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??

Not yet. I only hold a small amount that makes me no need to hire an accounting service. I also can still be able to manage my amount. From this crypto, I have not paid taxes yet. I'm planning for it.