proearner12
Newbie
 Offline
Activity: 24
Merit: 0
|
 |
May 27, 2018, 05:34:24 AM |
|
As far as I know my country hasn't mandated tax has to be paid on crypto, yet, not sure what I will do if they do. I've not actually sold any for fiat thus far so tax isn't really on my mind anyway.
But as far as I know if you cash out money in bank more than the limit we need to pay tax.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
Kidmat
|
|
May 27, 2018, 05:43:42 AM |
|
Here in my country it is not yet been regulated to required to pay taxes. So it is not implemented to pay taxes in every trading you make. Also, others are right depends on the country you are living with because I have heared other countries they are required to pay taxes. You can make your own breakdown on how much you are earnings during trading.
|
|
|
|
|
reality18
Member
Offline
Activity: 938
Merit: 14
Earn more with Earn Network
|
|
May 27, 2018, 06:27:07 AM |
|
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??
Cryptocurrencies were created to offer financial freedom and bypass tax payment with its transactions. Anyway, most exchange sites charge fees for trading your tokens with them. With the recent issues coming from the governments, maybe the exchange sites will be taxed and in an indirect way, we will pay tax. |
|
|
|
|
|
nskendrovic
|
|
May 27, 2018, 04:25:17 PM |
|
Have not paid any taxes for my profits just yet. I am expecting the taxing on the crypto earnings to start coming soon. As long as they do not ask us to start paying back taxes which would mean that I would be paying a ridiculous amount of taxes then all will be well. Otherwise there will be an uproar which will obviously negatively affect the prices of cryptocurrencies.
|
|
|
|
|
ruffles2016
Sr. Member
Offline
Activity: 475
Merit: 250
Presale is live!
|
|
May 27, 2018, 04:30:12 PM |
|
Honestly I didn't pay taxes at all ever since. I always considered cryptocurrencies as good way to evade taxes. I don't think it is unethical by the way, it is completely legal in my stance. Local laws don't force anything.
|
|
|
|
|
yaoye0o
|
|
May 28, 2018, 03:48:27 PM |
|
In the process of drawing money from the encryption, I pay taxes to the government, because this is a strict restriction in our country. But I'd be happy to pay taxes for my own profit.
|
|
|
|
|
ofeefee
Legendary
Offline
Activity: 1023
Merit: 1001
Tokenize Fantasy Sports
|
|
May 28, 2018, 03:51:15 PM |
|
I prefer to pay taxes for my profit, because it is not worth the risk of not paying. The penalties are very big and makes no sense to pay penalties instead of taxes.
|
|
|
|
gharjas2517
Newbie
Offline
Activity: 114
Merit: 0
|
|
May 28, 2018, 04:01:22 PM |
|
For the time being, I do not need accounting services in encrypted transactions. If I have to use more transactions in the future, I will adopt them. For taxation, it is possible for many countries to do so after the maturity of the community. If there is profit, I would like to pay tax, which is part of the mature market.
|
|
|
|
|
hurryUp8
Newbie
Offline
Activity: 67
Merit: 0
|
|
May 28, 2018, 04:01:46 PM |
|
I don't but have nothing against taxation of cryptocurrency. That also leads to growth of its popularity and development
|
|
|
|
|
cynta
Member
Offline
Activity: 165
Merit: 10
|
|
May 28, 2018, 04:08:16 PM |
|
Coincidence in my country there is no regulation about cryptocurrency,,, and income from the internet there is no rule of law also. So for the moment there is nothing to worry about taxes,,, because there is no provision to pay taxes from the results of cryptocurrency.
|
|
|
|
|
mimota156
Newbie
Offline
Activity: 39
Merit: 0
|
|
May 31, 2018, 03:44:14 AM |
|
I am not an American. So I don’t pay any taxes for my profits.
|
|
|
|
|
yourx7phone
Newbie
Offline
Activity: 35
Merit: 0
|
|
May 31, 2018, 02:25:35 PM |
|
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.
|
|
|
|
|
susutao82
Newbie
Offline
Activity: 23
Merit: 0
|
|
June 01, 2018, 06:04:38 AM |
|
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.
|
|
|
|
|
kaybounty
Newbie
Offline
Activity: 82
Merit: 0
|
|
June 01, 2018, 06:13:02 AM |
|
I'm a little bit new in this biz but I know of some that have been there for a couple of years and they don't pay taxes. I think this is what government is trying to do, that is why they are waging war against crypto. Government want to regulate, be in control and have a policy that will guide every transaction in crypto. So the issue of tax in crypto is not really working now except in USA
|
|
|
|
|
|
nemagia
|
|
June 01, 2018, 06:15:15 AM |
|
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??
Find a financial expert and share with him, it is better to deduce small amounts of money in Fiat many times than to deduce everything one time. The truth is there is one thing but this is a commission, it's the only tax on the rest I do not know and did not come across. |
|
|
|
|
|
pergola
|
|
June 09, 2018, 09:35:18 PM |
|
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??
Find a financial expert and share with him, it is better to deduce small amounts of money in Fiat many times than to deduce everything one time. The truth is there is one thing but this is a commission, it's the only tax on the rest I do not know and did not come across. I also think that small amounts will not interest anyone. Therefore, you need to withdraw funds in small parts. In addition, in most countries there are no laws governing the scope of crypto currencies. |
|
|
|
Perfect35
Member
Offline
Activity: 854
Merit: 10
|
|
June 09, 2018, 09:48:54 PM |
|
Where you are resident will determine a lot when it comes to the payment of tax on the profit made, "through crypto". Although if the amount is not so huge,i do not see the reason for this. I do nit pay tax on this where i am resident. We are allowed to operate freely.
|
|
|
|
|
nokkyhn
Newbie
Offline
Activity: 4
Merit: 0
|
|
June 09, 2018, 11:06:39 PM |
|
In my country I need to pay for them about 15% from my profit but, I just start to do an investment, if I have a choice I will avoid it.
I think we do it by ourselves moreover how hard we can get the profit you dont even know bro! How dare the government asking for taxes hmm...
|
|
|
|
|
Merdeop
Jr. Member
Offline
Activity: 152
Merit: 1
|
|
June 09, 2018, 11:09:43 PM |
|
Thank God I am not yet familiar with the taxes on cryptocurrency. My country has not yet adopted a regulatory law. But soon we will also be taxing cryptocurrency. To be honest, I do not intend to pay taxes for cashing out cryptocurrency.
|
■ KuBitX ■
█ Cryptocurrency Exchange & Trading Platform █
focused on: knowledge | security | accessibility | excellence | ethics |
|
|
keobonggon.xigon45
Newbie
Offline
Activity: 81
Merit: 0
|
|
June 13, 2018, 03:22:39 PM |
|
Im not paying a tax profit because in my country there is no laws for regulating crypto currency. Crypto is decentralised and there is no law guiding to be taxed,, therefore users of cryptocurrencies can enjoy the advantages of being located in sector of economy legal prevails.
|
|
|
|
|
|
