do you guys pay Taxes for profit?

[niublity]

No. I think this is a government conspiracy. I think that once they oversee the cryptocurrency. The regulated cryptocurrency will be worthless. Unregulated prices will take off!

[landysh007]

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.

I fully agree, in my country there is not even a law at all, which would mention crypto currency. Therefore, I can not pay taxes for something that does not exist in the opinion of my state. 

[Dandyhunter]

No, I do not pay taxes with and profits. In my country, crypto currency is not a taxable asset. But I think that this will change soon.

[losiva]

Well for me I don't think cryptos should be taxable because the government don't contribute anything to the crypto. Everyone manages his own wallet, if you lost your private keys, your money is gone, so why should it be taxable? Well for me and in my own country, we don't pay tax for that and will never.

[MoeKaloolon]

I have yet to pay taxes for any of the profit that I have made for crypto. It is not yet required in my country that we have to pay taxes for the profits which we make from cryptocurrencies but I am guessing that it is just a matter of time before taxes are imposed on them and I am guessing some back taxes law will go in place too

[9000]

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??

Cryptocurrency is not regulated yet in my country. I don't have to notify any state organizations of my profit. The only problem is that from 1st of July, banks officially will be obligated to inform the state about unknown transactions.

[GoodHounter]

no, I don't pay income taxes. there are many ways to get away from taxes.

[kendra1107]

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??

Our government have not made any clear statement as to how will it address cryptocurrency earnings as of this time (I hope it stays that way...). Though I'm pretty sure our law makers are cooking up something in order to impose taxes and set regulations on cryptos. As of present, only fees for transfers from exchange to wallet and cashing out from our local money exchangers or pawnshops are being deducted.

[Misiak4]

For now we don't have good regulation of crypto so I don't pay any taxes. to be sure I didn't earn so much money and which I did already spent. So if goverment say pay taxes I say truth like now crypto go down so you pay me money for this

[Marvell1]

I'm a law-abiding citizen and I'm compelled to comply with all norms of the law. I think that we should not engage in the shadow business, only for the reason that the government does not have the ability to track our activities.

[valentine401]

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??

Earning profit from cryptocurrency is very simple by picking an exchanger and waiting for the drastic changes in the market in order to multiply your coins, the transaction fee's will compensate for the taxes and that is already considered for you to be legally earning profit.

[vivuta117]

it is important to pay tax and to document everything. the authorities are catching up and soon know everything about crypto.

but that can of course be different from country to country.

[peterpan19z99]

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.

[lynnachaean]

I don't really know what is the rule regarding cryptos in our country so I won't declare it and won't pay for it. With the growing popularity of crypto currency though, I'm betting the government would enforce one soon.

[wishman93]

As of now, No. Since tere is no policy with our government and this cryptocurrency is considered as remittance. But sooner, rules may change and cryptocurrency income will be taxed in my opinion, but not now or in a year or two

[albertvahitov]

As long we are talking about small amounts i don't think it's a problem, and everything depends on the country in which you live, and how in this country belong to the crypto-currencies.

[cheezcarls]

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??

As much as I like to pay taxes, I don't think they have implemented crypto taxes in my country yet. If they do, I would rather use an accountant to compute everything. Oh by the way, my dad is a certified public accountant (CPA), so I may need his help to compute my crypto taxes if it implements in my country one day. For now, fiat income is where we need to pay taxes, not crypto, because it is decentralized. I might say that rules can change anytime soon when it comes to cryptocurrency earnings being subjected to tax.

[bucksman5233]

No, because I'm a small trader and my income will be below the tax bracket so no need to pay any income tax. If it's slightly higher, I'll manage somehow.

[Zakifon]

No, and I'm not going to pay - it's my income and my earnings, and I do not consider it necessary to show it to the tax authorities.  And so soon we will begin to pay for the air...

[hsnmmo995]

Everything depends on the country in which you live, and how in this country belong to the crypto-currencies.