Bitcoin holders will have to pay their tax?

[BitTraderCute]

I am not sure what are you willing to say exactly but as of now, I am paying taxes for the earning made in Bitcoin or any other cryptocurrency for that matter. It is true that Bitcoin is not yet legalized by most of the governments but that doesn't mean we shouldn't pay tax on it. Any gain is subject to tax (with some provisions and exceptions) in my jurisdiction so even if it is not taxable as Bitcoin but it is taxable as a monetary gain in my country.

but if they collect taxes from crypto, they should make new regulation.cryptocurrency is different with digital money.maybe for digital money they shoud do this.if they want taxes they must legalize it first.

[Agapelove]

Taxes are parts of the world's system of regulations. For the governments to recognize cryptocurrency, taxes should be put in place. These will pave the way to legalizing cryptocurrency.

[Capt00]

Pay tax? that is no problem for me that is a small amount compared to what you are holding is that a huge amount compared to your tax payment. Don't hesitate your self to pay tax if it is needed, indeed, that makes you proud that you made contribute a little amount just for your country by giving tax.

[ir.yance]

in my opinion, bitcoin holders will decrease with taxes, they will be reluctant to invest in bitcoin because they will pay taxes and if their bitcoin gets more, the more taxes will be paid.

[DianHER]

Part of the problem comes from how slow regulators have defined their views on virtual currencies. maybe this is the reason for the difficulty of applying taxes to Crypto holders,

[macartem]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

This is a very interesting question, but I am more interested in how they will collect this tax? Many people keep their bitcoins anonymously and they are not afraid of these taxes...

[inesterdd]

If this is considered at the global level, then this is possible for the better. Thus, bitcoin will officially be accepted as a payment instrument and it will be easier to use it.

[Edraket31]

If this is considered at the global level, then this is possible for the better. Thus, bitcoin will officially be accepted as a payment instrument and it will be easier to use it.

Here in our country since there is no existing law about it then we don't need or we are not oblige to pay for tax since they are still in the process of learning things about what they are going to do with those who are investing in bitcoin, but as the law requires us to pay then we will follow the rules and will pay for tax required.

[dmamigo]

I think and hope they will only tax the people who have invested and then earned some on which tax will be imposed. If the tax is put on every transaction, which I guess is not possible, or on every fiat-crypto trade, then it will be a bad thing as there are many online sellers who now accept Bitcoins or other crypto coins. Its better if tax is imposed upon the earnings, not in terms of each fiat-crypto trading.

[lestariptr]

If bitcoin is legal in a country, of course I think bitcoin holders must pay taxes. But I think this is difficult to implement because bitcoin is anonymous. So I think this will be a difficult choice for a country's government. I just hope bitcoin is accepted in my country.

[supine]

What will happen on BTC if the government will say that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

We are actually paying gases which is a burden and it would be hard to have taxes to pay. It is important that we are spending and saving enough to sustain our needs and taxes would really be a problem for us users especially that the market is in red.

[Barcode_]

If bitcoin is legal in a country, of course I think bitcoin holders must pay taxes. But I think this is difficult to implement because bitcoin is anonymous. So I think this will be a difficult choice for a country's government. I just hope bitcoin is accepted in my country.

I think if the bitcoin traders is trying to sell some bitcoins through regulated crypto-currencies exchanges operating in that specific country, the government tax officials should be able to track the amount of bitcoins sold by a trader, as the trader would surely need to provide his personal information and documents before his account would get approve by that specific crypto-currencies exchange.

[rainezerr]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

I believe that the cryptocurrency price will drop because most of them will sell their coins in the market and that is the reason why government should not apply taxes on cryptocurrency.

[lubah]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

If we want to create a crypto society. we will have to comply with the laws of the state in which we live, otherwise you will have problems with the law. If you live in a country where it is forbidden to have bitcoins, then move to another country where there are favorable conditions for this activity.

[SkvorNyc777]

I don't think that it will ever happen. It is nearly impossible to indicate the holder of an exact wallet so how would the make people pay?

[Osaaah]

First of all why will government ask bitcoin holders to pay tax? And how will such tax be collected? i see no future with bitcoin holders paying tax. How will that be even called? Bitcoin added tax?

[cahbagus555]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

I dont think paying taxes will be obstacle for bitcoin or cryptocurrency. If government regulate bitcoin and cryptocurrency become asset, its our obligation as citizen paying taxes. Its very normal if we pay taxes from our asset we have

[deisik]

I am not sure what are you willing to say exactly but as of now, I am paying taxes for the earning made in Bitcoin or any other cryptocurrency for that matter. It is true that Bitcoin is not yet legalized by most of the governments but that doesn't mean we shouldn't pay tax on it. Any gain is subject to tax (with some provisions and exceptions) in my jurisdiction so even if it is not taxable as Bitcoin but it is taxable as a monetary gain in my country.

OP probably wanted to say that you may have to pay a tax on your cryptoholdings very much like you have to pay a property tax every year in so many countries. For example, if you own a few acres of land or a piece of real estate, say, a shabby cabin by the lake, these are all taxable. Though I don't know how any government is going to collect such a tax if it levies it on possession of crypto. I don't know if there is such a government, but it would be interesting to see how things are going to develop in this particular case and what their mileage will be

As for myself, such tax doesn't make much sense as it will be very hard to collect and yet harder to prove tax evasion

[Dudeperfect]

I am not sure what are you willing to say exactly but as of now, I am paying taxes for the earning made in Bitcoin or any other cryptocurrency for that matter. It is true that Bitcoin is not yet legalized by most of the governments but that doesn't mean we shouldn't pay tax on it. Any gain is subject to tax (with some provisions and exceptions) in my jurisdiction so even if it is not taxable as Bitcoin but it is taxable as a monetary gain in my country.

OP probably wanted to say that you may have to pay a tax on your cryptoholdings very much like you have to pay a  property tax every year in so many countries. For example, if you own a few acres of land or a piece of real estate, say, a shabby cabin by the lake, these are all taxable. Though I don't know how any government is going to collect such a tax if it levies it on possession of crypto. I don't know if there is such a government, but it would interesting to see how things are going to develop in this particular case and what their mileage will be

As for myself, such tax doesn't make much sense as it will be very hard to collect and yet harder to prove tax evasion

Yes, tracking crypto holdings and assessing the tax liability is the real trouble for the governments. I recently read this article,

* Japan’s National Police Installing Crypto Transaction Tracking System - Bitcoin News.

But there is always a loophole for such system and hence the whole system is based on self-declaration and assessment in the initial phase, that would create chaos across the crypto community. As of now, in my country, we are taxed when the amount is converted into the fiat currency and there is no other way for the government to believe on the information furnished by the taxpayer assessee.

[Jimitieu]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

I think for those countries that accept btc their governments have started to charge taxes because many people who make a profit from it actually do not affect the number of people who invest. The btc or cryptocurrency in the meantime helps the market to benefit