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Author Topic: Bitcoin holders will have to pay their tax?  (Read 4115 times)
jrrsparkles
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January 30, 2019, 10:04:52 AM
 #621

Even now people need to pay taxes for the bitcoin and other crypto earnings if they are in a crypto regulated country.But holders are never going to get any taxes as long as they are holding their bitcoin in their wallets (not in exchanges).Only chances of getting traces when people are making transactions and it is not a bad thing to ask for taxes for earnings as per the current government rules.

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January 30, 2019, 10:13:43 AM
 #622

But I think there will be a positive side of it, meaning that legally recognized by the government, and with the government recognition, it will increase public trust and more investors will be interested in investing in bitcoin and automatically will make the price of bitcoin become more expensive and profitable for investors.
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January 30, 2019, 11:22:42 AM
 #623

But I think there will be a positive side of it, meaning that legally recognized by the government, and with the government recognition, it will increase public trust and more investors will be interested in investing in bitcoin and automatically will make the price of bitcoin become more expensive and profitable for investors.
- The real positive is that with the support of the government, people will invest more in bitcoin and the crypto market but the value of bitcoin will not increase so much as you think because I believe the government will have a very tight control over the price of bitcoin and the market, they will make the market less volatile, do not allow pumps and strong dumps to appear. Because pumping and pouring are tools to make the market chaotic, and chaos can cause huge damage to property, even people's lives, so they will protect people by stabilizing market prices and they want to be good for us but at the same time they also limit our opportunity to make money




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January 30, 2019, 04:20:59 PM
 #624

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.
Tax for the state is an obligation that must be paid for state income, if Bitcoin is smooth or illegal in all fields of good transactions and other things I do not object to taxes.
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January 30, 2019, 05:01:45 PM
 #625

every country is strict in collecting tax from bitcoin holders  we should pay capital gain tax to government on the profit we earned from crypto currencies
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January 30, 2019, 05:18:06 PM
 #626

First of there is no way to know how much one own unless they are keeping it on regulated exchange ,they have to pay tax to account transfer as to tell the source of income.its depend on government to government ,how much they have to pay and I think btc should be tax in the country where there are crypto regulation available to public.
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January 30, 2019, 05:30:22 PM
 #627

It all depends on what stage of development this will happens. If it is now, then of course it will negatively affect the use of Bitcoin and other cryptocurrencies. But if this happens after the integration of Bitcoin into the real economy and the existing financial system, then it is quite possible that this will have a positive effect on Bitcoin. The fact is that if mechanisms of interaction with the existing financial system and taxation are developed, Bitcoin will be able to claim world leadership as a new world currency.

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January 30, 2019, 08:40:28 PM
 #628

tax can make developments in the field of the economy and if bitcoin has to be taxed I feel if it is not burdensome and makes investment more comfortable and safe I think investors don't mind

 
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January 30, 2019, 10:27:31 PM
 #629

it's true but it's a country that has legalized bitcoin so that the government must determine the market for bitcoin users, but if the country that has not legalized bitcoin will not be the government asking for the slightest tax

I think it depend where countries you're from, if it is implemented or their is a law that you have to pay tax then  that is the time we pay it. But i think if that will come, the bitcoin is already ligalized and many roles and regulation to follow.

You are obliged to pay tax if the Government says so. Here in my country, the Government does not legalize bitcoin and we are not obliged to pay tax. However, the central banks regulate the virtual currencies to avoid money laundering or any illegal activities. Anyway, is there any country that legalized bitcoin? Because as of the moment, I haven't heard a country that legalize it.
While I agree with the idea that if a government creates a law that says that you need to pay your taxes for your cryptocurrency gains, the problem that the government is going to have is how to enforce those laws? Because it is going to be very difficult to track every single person that is using cryptocurrencies and even if they could do that they have no way to know how much money that person has so it is going to be a huge challenge for governments to catch all the people that do not follow their laws.

 
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January 30, 2019, 11:13:07 PM
 #630

As for me personally, I am sure that I will not pay any taxes, even if my government tries to make me do it. For me, bitcoin is a symbol of freedom and independence, And no one can make me pay taxes if I do not want it myself. In this regard, I have a principled position. Besides, I doubt that this will ever happen.

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January 31, 2019, 08:54:57 AM
 #631

As for me personally, I am sure that I will not pay any taxes, even if my government tries to make me do it. For me, bitcoin is a symbol of freedom and independence, And no one can make me pay taxes if I do not want it myself. In this regard, I have a principled position. Besides, I doubt that this will ever happen.

You can be penalize or worst you can found yourself in jailed because a law is law , you cannot evade it .  dont be afraid of the tax because its for your own good and besides , the tax charges will only depend on the amount you hold or on the amount that you transact .

So far most countries ( including ours ) have not yet implemented a law about this matter .    

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January 31, 2019, 09:16:58 AM
 #632

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.
That is not important. What do you think about the government's control of a decentralized market? they cannot control us. We don't need to use banks to launder money, so the government has no evidence to arrest us.
We can buy land, buy gold with bitcoin. Countries have many black markets so we can trade like that.

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February 04, 2019, 09:49:27 PM
 #633

Maybe until now the government does not have the right to collect taxes from bitcoin holders because they have not ratified this bitcoin and again they have no right to regulate the holders, but if it is legal then this will be better for the price and development of the next bitcoin.

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February 05, 2019, 02:07:55 AM
 #634

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 government implemented tax for Bitcoin then we will definitely need to pay them continuously without any mistakes because if government putting taxes for Bitcoin then they are trying to legalize cryptocurrency in the country so paying taxes when implemented legalisation of cryptocurrency
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February 05, 2019, 02:37:12 AM
 #635

Maybe until now the government does not have the right to collect taxes from bitcoin holders because they have not ratified this bitcoin and again they have no right to regulate the holders, but if it is legal then this will be better for the price and development of the next bitcoin.
they need to prepare the regulation when they want to attract taxes from cryptocurrency.and also they have to legalized it before.i think cryptocurrency community will be very interested when government legalize it, although as compensation they will have to pay taxes.

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February 05, 2019, 03:37:52 AM
 #636

it's true but it's a country that has legalized bitcoin so that the government must determine the market for bitcoin users, but if the country that has not legalized bitcoin will not be the government asking for the slightest tax

I think it depend where countries you're from, if it is implemented or their is a law that you have to pay tax then  that is the time we pay it. But i think if that will come, the bitcoin is already ligalized and many roles and regulation to follow.

You are obliged to pay tax if the Government says so. Here in my country, the Government does not legalize bitcoin and we are not obliged to pay tax. However, the central banks regulate the virtual currencies to avoid money laundering or any illegal activities. Anyway, is there any country that legalized bitcoin? Because as of the moment, I haven't heard a country that legalize it.
While I agree with the idea that if a government creates a law that says that you need to pay your taxes for your cryptocurrency gains, the problem that the government is going to have is how to enforce those laws? Because it is going to be very difficult to track every single person that is using cryptocurrencies and even if they could do that they have no way to know how much money that person has so it is going to be a huge challenge for governments to catch all the people that do not follow their laws.

Well,  it is not that impossible for the Government to imposed a law that is difficult to execute. Agree that they can't track every single user of cryptocurrency not unless they'll going to use the local exchanges to track every users and obliged to pay taxes.

In Philippines, they have local exchanges that allows every user to use bitcoin as payment. Now, if the Government of the Philippines wants every bitcoin holders to pay tax, they could actually do that by using their local exchanges. Every bitcoin users used local exchange to transact and that's the time that they can't avoid paying tax. Fortunately,  Filipinos I think are not yet paying taxes. Hopefully, it won't happen.

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February 05, 2019, 03:44:53 AM
 #637

if the government provides a regulation for btc and provides legal for btc, then the tax will be required. but if not, it will not pay taxes. all will depend on government decisions.
Agree, I think we know that we live in a country that has rules that must be followed. if bitcoin or crypto is legalized, of course there is a payback to the government, maybe the tax will be applied afterwards, and we as law-abiding citizens must follow it
- Following the rules and regulations from the government is a sure thing but the government needs to prove the benefits they can provide us in crypto and bitcoin, they can not just propose rules and do not give us any benefits then force us to follow, that will be an unfair thing. I believe everyone here can understand and agree with my point of view, before we pay taxes to the government, government needs to ensure our rights and safety, they should even say their management plans for bitcoin trading, if they do not bring certain benefits, I will be the first to oppose taxes

If government propose to collect taxes from cryptocurrency trading, government must be propose benefits for cryptocurrency holder. With regulation, crypto holder more confident and it will attracting new investor

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February 05, 2019, 04:02:08 AM
 #638

if the government provides a regulation for btc and provides legal for btc, then the tax will be required. but if not, it will not pay taxes. all will depend on government decisions.
Agree, I think we know that we live in a country that has rules that must be followed. if bitcoin or crypto is legalized, of course there is a payback to the government, maybe the tax will be applied afterwards, and we as law-abiding citizens must follow it
- Following the rules and regulations from the government is a sure thing but the government needs to prove the benefits they can provide us in crypto and bitcoin, they can not just propose rules and do not give us any benefits then force us to follow, that will be an unfair thing. I believe everyone here can understand and agree with my point of view, before we pay taxes to the government, government needs to ensure our rights and safety, they should even say their management plans for bitcoin trading, if they do not bring certain benefits, I will be the first to oppose taxes

If government propose to collect taxes from cryptocurrency trading, government must be propose benefits for cryptocurrency holder. With regulation, crypto holder more confident and it will attracting new investor
right. of course, before there is a government regulation, it has not been able to determine the tax regulation for cryptocurrency directly. I think the existence of regulation will actually have a positive impact on the development of crypto. because it can foster consumer confidence in illegal activities


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