Tax on crypto?

[Ray Magma]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

[1714668887]

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[1714668887]

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[carlisle1]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

in Arizona State ,government allow people to pay taxes using bitcoin,same as Gergia whos considering this to their state,so if government given as a chance to use our coin to pay taxes.then why not give government a chance to collect taxes on crypto,every profiteering that made by people requires tax,coz if not it will be considered as illegal

[endlings]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

in Arizona State ,government allow people to pay taxes using bitcoin,same as Gergia whos considering this to their state,so if government given as a chance to use our coin to pay taxes.then why not give government a chance to collect taxes on crypto,every profiteering that made by people requires tax,coz if not it will be considered as illegal

In many cases, I hope the government will tax the bitcoin, which will make us feel relieved that even if the price will temporarily drop but then rise steadily, the lack of bitcoin is recognized by the government and the lucrative industry really needs to be regulated Or norms, or it will be full of all kinds of scams, illegal acts.

[pooya87]

it won't work because that means taxing bitcoin twice! that is why tax laws in countries such as Japan are like this. there is a tax when you "invest in bitcoin" which i believe is like capital gains (but not sure) so you are paying a tax for bitcoin once here. then if the country recognizes bitcoin as a legal way of payment or a currency they can not tax it again when you make a payment with bitcoin because you have already paid your taxes on your bitcoins so the taxes here will be 0.

[Ms Emi]

Paying government contribution with the use of crypto and paying tax with it is just natural, since every transaction you made with them are with tax anyway, and let this matter be a reason for other countries to open up.

[jitenrajput]

Cryptocurrency was invented with a motive to overcome the flaws of centralized currencies. The name behind the invention of world’s most popular cryptocurrency “Bitcoin” introduced it as “Peer to Peer Electronic Cash System”. If we pay tax on our fiat currency, then there is no harm in paying tax on cryptocurrencies. In fact, the countries which have accepted bitcoin and other cryptocurrencies as legal tender have already defined tax norms for the same. Many banks use Ripple for transactions.

[Putra969695]

if the government agrees with the existence of crypto as a gateway, it is ascertained that the digital currency is in effect, but now the government is still blocking the bitcoint and making negative news about the bitcoint, and I've read the government banning the investment in bitcoint. the state in bitcoint is now 50: 50.

[AlexAtom]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

i don't really like the tax idea. we already taxed our fiat incomes.
when we buy bitcoin with our fiat which was taxed before, should it be taxed again ? so many taxed *sigh

[shulio]

Yes the government may choose to accept crypto with tax but I wonder if anyone will pay if there is any tax must be payed.

[tanxingwo1215]

The use of encrypted digital currency in Germany as a means of payment is not required to pay taxes!

I think many countries should learn from Germany!

This will be conducive to the development of the digital encryption currency!

[bug.lady]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

i don't really like the tax idea. we already taxed our fiat incomes.
when we buy bitcoin with our fiat which was taxed before, should it be taxed again ? so many taxed *sigh

Well this is how this world works, mate. First your income gets taxed. On top of that you pay social security and health security taxes. Then whatever remains you use to buy things and services, but with each purchase you pay additional tax (VAT, GST, they go by different names) on top of it. Whatever remains, you put into a bank or invest and then you pay a capital gains tax.

This is how the world goes, mate... It is crazy!

[gordeevaverona]

Those countries that are legalized then of course have the right in the name of the state to take taxes with crypto. It will not be advantageous for them not to take them if they already control some part of the system.

[acha 1 3]

Yes, that's can be happen, after government legalize bitcoin and we need to pay tax for it I think that's fair thing. that's can't be a prolem for user bitcoin because that will be make easier to use bitcoin because bitcoin is legal, I'm agree with that's, and I hope my country can legalize bitcoin soon.

[Haley craft]

I think this may be a trend, so we have to accept, but the bitcoin tax and imply that the bitcoin is legal, so is good news for the whole market, so I think I can accept that.

[richjohn]

I think we still have to pay tax on the earnings (at least in my country). A tax of 33% is levied on income and since the profits that come from trading come under income, so tax would have to be paid.
But that's alright, unlike some countries like China where trading is completely blocked, my country still lets me trade.
I am waiting for the day when Bitcoin would be regarded as a legal tender so all the tradings can be done without hassle.

[PottoBit]

in my country tax on btc and other crypto is subjected by the owner: Every one can declare how much they want, so mostly of times never one declared nothing

[Dudeperfect]

As we all know, Bitcoin is global and hence it would be a trouble for citizens to prove that Bitcoin transaction took place within the country. On the other hand, practically I don't see any possibility of such thing other than levying a global tax on miners but again, there must be unanimous decision on a global level, which is rare.

[Dadan]

It is possible that the taxpayers need to pay taxes to the government only, but if they only know about bitcoins, the government probably agrees with no taxation as long as they have a bitcoin position or have an account high and earn that they might be able to say yes. It's just that they know that maybe they will not ask for their account with bitcoin, but of course we have to agree that our countrymen are not just government officials.

[Red-Apple]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

it sounds a bit strange to be honest because it is like saying if government allowed using PayPal but you had to pay taxes on each PayPal payment you made!
that is what a "payment gateway" means, or am i missing something here?!

[charlotte04]

What if the government agree to use crypto as an payment gateway but with tax.

Is it possible?

Yes, we do need to provide taxes for our country. We need to contribute so that our country's economy won't be down.