Why tax money/BTC?

[RodeoX]

Let the gov's decide the wrong way, Bitcoin will win this war for the good of humanity. Is fiat money considered a gov product?

Can anyone clarify the situation of customs duties of products/services purchased with Bitcoin?

I think in most countries fiat is produced by the government. In the U.S. it is produced by the Federal Reserve, which is not officially part of the government. It is considered an independent central bank. At least on paper it looks like more of a banking cabal. 

As far as customs and duties... That could get complicated as it involves so many laws and governments. I think the main triggering event would be moving $10K or more across a border. When entering the U.S. you must declare anything valued at $10k or greater.

[1715408656]

1715408656

[intec]

Let the gov's decide the wrong way, Bitcoin will win this war for the good of humanity. Is fiat money considered a gov product?

Can anyone clarify the situation of customs duties of products/services purchased with Bitcoin?

I think in most countries fiat is produced by the government. In the U.S. it is produced by the Federal Reserve, which is not officially part of the government. It is considered an independent central bank. At least on paper it looks like more of a banking cabal. 

As far as customs and duties... That could get complicated as it involves so many laws and governments. I think the main triggering event would be moving $10K or more across a border. When entering the U.S. you must declare anything valued at $10k or greater.

I meant if you are purchasing something with Bitcoin over the internet, but helpful info anyways.

[RodeoX]

Let the gov's decide the wrong way, Bitcoin will win this war for the good of humanity. Is fiat money considered a gov product?

Can anyone clarify the situation of customs duties of products/services purchased with Bitcoin?

I think in most countries fiat is produced by the government. In the U.S. it is produced by the Federal Reserve, which is not officially part of the government. It is considered an independent central bank. At least on paper it looks like more of a banking cabal. 

As far as customs and duties... That could get complicated as it involves so many laws and governments. I think the main triggering event would be moving $10K or more across a border. When entering the U.S. you must declare anything valued at $10k or greater.

I meant if you are purchasing something with Bitcoin over the internet, but helpful info anyways.

Ah, I misunderstood. I think most people just don't pay the taxes they are "supposed to pay" on the internet. It has been a long standing thing and there is little any government can do to enforce it. I mean technically if you find a gold ring on the sidewalk you are required to pay tax on it. But who does that? Like garage sales and other examples it would cost more to enforce than it brings in.

[the_new_emperor]

Like garage sales and other examples it would cost more to enforce than it brings in.

 

This never stopped tax authorities to try and collect what they think is due  However I think that if tax authorities are not entitled to follow every single internet transaction they won't have any effective tool to introduce and collect fees on internet transactions in general. But this is highly unlikely.

I think that BTCs themselves should not be taxed - they are only a tool. But if you make a profit of them, may be a small tax on the profit is not that bad. In my some countries this would be a flat 10% tax - not that bad. 

[intec]

Like garage sales and other examples it would cost more to enforce than it brings in.

 

This never stopped tax authorities to try and collect what they think is due  However I think that if tax authorities are not entitled to follow every single internet transaction they won't have any effective tool to introduce and collect fees on internet transactions in general. But this is highly unlikely.

I think that BTCs themselves should not be taxed - they are only a tool. But if you make a profit of them, may be a small tax on the profit is not that bad. In my some countries this would be a flat 10% tax - not that bad. 

I hope we all are born on earth, facts = there are law's ( what happened before laws? - conquering. )
Bitcoin early adopters know it's not about the price nor either the quantity rather conquering the economical world.

How can this be achieved? Not funding gov's. We indeed need to help people and go even further then moon, the world needs us all however central authorities even if by democracy have proven to be what they are - central authorities. The vote you cast every 4 years or so is kind of useless when it comes to this no matter decisions taken.

[darkangel11]

Depends on what type of tax you're talking about. Stuff like value added tax is ridiculous and shouldn't apply. If you make a massive capital gain on them and sell then I don't see why it should be exempt.

I find VAT to be much more just and much less ridiculous than income tax. The best type of tax is always head tax because it's the most just. Everyone is treated equally and has to pay a certain amount of money towards services. It stopped being applied in most countries because of difficulties in execution, but it can always be introduced in the form of property tax. Vat is fine because you're paying it while buying goods and services. It can't be too high because otherwise the prices of goods would skyrocket and nobody would buy them. As a result nobody would make money. Income tax is the most unjust as it punishes hard work and promotes laziness.

[intec]

Depends on what type of tax you're talking about. Stuff like value added tax is ridiculous and shouldn't apply. If you make a massive capital gain on them and sell then I don't see why it should be exempt.

I find VAT to be much more just and much less ridiculous than income tax. The best type of tax is always head tax because it's the most just. Everyone is treated equally and has to pay a certain amount of money towards services. It stopped being applied in most countries because of difficulties in execution, but it can always be introduced in the form of property tax. Vat is fine because you're paying it while buying goods and services. It can't be too high because otherwise the prices of goods would skyrocket and nobody would buy them. As a result nobody would make money. Income tax is the most unjust as it punishes hard work and promotes laziness.

Indeed, VAT is much more acceptable than tax income which can go up to 35 % on some countries, pretty much ridiculous... isn't that slavery?

[RodeoX]

If it were tax free in the U.S. it would be unique. Most Americans don't do it, but technically even the proceeds from your garage sale require paying tax. Or even finding a gold ring on the ground.

[Mhd-Bobbi]

but i do agree that bitcoin should be exempt from taxes, kudos to europe which apparently did understand this, and i'm lucky that i live in the euro zone and not in the usa...

I think if bitcoin runs online, or on the internet, it might not be taxed, because bitcoin is everywhere, how they get taxes, while they don't know who the owner is, what they know is the wallet address, I think it's right to be free tax.