do you guys pay Taxes for profit?

[cris ronaldo]

I don't think my country will collect taxes because I make money. I think it's hard to collect taxes. Because it takes a lot of work.

[haithomocduong]

I wish paying taxes cus that would mean that cryptocurrency been legalized. But we still have it at the grey sector of economy at the most countries of the world

[haithomocduong]

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

[xiwanfd]

ICO is prohibited in my country, so I don't have to pay taxes for encryption.

But I'm willing to pay taxes, and I want my country to accept cryptocurrency.

[princeyeboah]

Well, i don't see a link between crypto and tax because cryptocurrencies work on the principle of decentralization thus enhancing p2p transactions. It is not like the Fiat money which is centralized and subjected to the actions of the government. Anyway, i get debited for tax whenever i convert from cryptocurrency to Fiat and withdraw.

[ifanxu]

This depends on the country's rules. If it is necessary, we cannot escape it, so we can only obey it.

[littlemonny]

Nope not paying taxes as of the moment our country doesnt require people of paying taxes,which is why i am getting my mining profits fully without any taxes or cut from the government.There are only few countries left that doesnt have regulations or restrictions regarding cryptocurrencies which is we should be enjoying the moment that we have.

[littlemonny]

This is one of the reason why some countries ban cryptocurrency as they cannot implement taxation in everyday transactions which costs around millions of fiat currency or dollars. It is really hard to implement such taxation because transactions are implemented on a global scale which countries cannot keep track of. I will depend on an individual if they want to pay their countries taxes which I doubt most of us do.

[kingdomofhearts]

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??

1. Of course not
2. No, but there is what we call the blockchain and everything is recorded in it.
3. Whatelse is there to do? You just want the profit and the money that comes from ICO's.

And to answer your question about taxes, why would you even pay for something that had nothing to do with the government at all. I mean, it's something that the government must be concerned about but if you would think carefully, on your transaction, there is not such thing as an involvement from the government.

[Lakash]

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??

Everything depends on the country when you live in. Also, trading a large amount of money is a bit of alarm button to authorities. Small amount does not alarm anyone or everyone.

[Riskiagung2425]

Payment of tax for crypto currency related activities depends on the particular country or region you live as to whether crypto currency is accepted as a legal tender.

[Lexurdania]

I dont use accountant service because i am using small money to invest. In my country, cryptocurrency dont have regulation and thats why i dont pay my taxes from my trade in cryptomarket

[rizqillah]

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??

Yes, it depends on which country you are in, if there is no law governing it so you do not have to pay anything, not to mention that in the taxes service countries the tax does not really know what a crypto is. That's in my opinion.

[Azzhan]

Most of the time, it depends on how much profit I, if margin is very big, so I think I might pay tax, but if my profit margin is very small, so I will choose to evade taxes.

[aileen393332xe5157]

Up to now, I have not paid any tax. All my transactions are just joining the bonus campaign or investing buy when the price of the Altcoin is low and selling when they are high to make a profit ... I can easily withdraw cash ... I Think of paying taxes for electronic money is up to the rules of every country!

[Fourgh]

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??

For me though:
1 No, since it is impractical to avail of such services with the current value of crypto I have in my wallet.
2 I don't document becuase the wallet I'm using keeps a record of transactions I have made. But I am thinking of keeping an excel file for the trading (buy and sell) stuff's in the future. For now Im just holding on to what coins I have.
3 Hold and accumulate more coins and then  trade them in trusted trading sites. It is very important to consider the transaction fee! Because you might not realize that the fee you are going to pay is much more expensive than the amount you are going to transfer. So just hold and acummulate and dont transfer if it's going to be a break even.

[nontyler123]

I see many people strangely anxious and impatient to pay taxes. Frankly, in the absence of clear legislation, I don't take initiatives. When the terrocrats come to look for me, I will face the problem.

[kobe24]

No im afraid that government will imply taxes on my bitcoin income i am earning more than a government employee earns hopefullt they can't detect my incomes.

[Convery]

I am not paying taxes because I am not selling my cryptocurrencies, but one day I probably have to pay taxes .

[ichanjay]

I haven't cashed out a single fiat on my holdings since my start in crypto. All my profit are in ETH and NEO. I believe taxes will surely come in crypto sooner or later