Bitcoin holders will have to pay their tax?

[abduramann]

Probably, the countries will want tax but I think this is ridiculous. At most countries, holding gold and foreign currencies is not subject to taxes. However, governments usually behave like legal mafia. If they see "money" on bitcoin, they will want tax.

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[Clark05]

Bitcoin user and bitcoin holder or anything about crypto are pay taxes in what way. Like me my wallet that I used when I cashout my money they have fee and they have license before do anything. When I cashout to the bank they have fee. But if the government said they need to pay taxes it's okay but need only small fee.

[sigam batat]

If I think this personally it seems impossible because btc is still illegal in some countries and if the government wants to take taxes then it must legalize it first but this is something very good because taxes will help state revenue

[cryptotenoy]

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.

Exchangers have transaction fees and most probably those exchangers pay taxes to the government.For now i think thats the way government can control because exchangers also needs legalities inorder to make their site legit and people would trust in their services.

[hubballi]

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.

You are wrong because if the government impose tax on bitcoin then it clearly means that bitcoin is considered legal in that country, which means that bitcoin can be used as currency and payment option for merchants which will be a very good decision which will give more boost to flourish very fast. As it is legal now anyone can use bitcoin without worry.

[liliano]

I think it's difficult to take tax on bitcoin owners because they are not registered in real with personal data, but if taxes are imposed when we trade bitcoin on the market or online store it is still possible

[wxa7115]

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 you do not want to have problems with your government you have to pay your taxes, but you do not really need to worry too much about it unless you are a person that holds a great number of cryptocurrencies, the government simply lacks the means to prosecute every single bitcoin user, so if you are just holding a small amount of coins you have nothing to worry about but if you have made a lot of money in this market then it is likely that you're going to have a lot of trouble if you do not pay your taxes.

At that point you will need to decide, paying your taxes or not doing it and having to avoid the government for the rest of your life? And it's very clear which one is the most desirable option, it is better to pay your taxes and forget about it.

[wasaisi]

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.

Maybe it will be difficult because we see the holders of Bitcoin own it and don't add even a bit. If you hold the Bitcoin that you have until in the future your Bitcoin is likely to be used up just to pay taxes.

[ginellis]

It's should be like that, when a successful investor or someone who sells bitcoin into local currency should be taxed. Because if not like that their country will experience an economic crisis and even go bankrupt.
Obviously in the future surely the popularity of bitcoin will be lower, because in addition to successful investors there are also small people who are trying to get very low amounts of bitcoin. Maybe for successful investors this don't affect his business, because I am sure they make quite a lot of profits

There are already thousands of other taxes and now bitcoin tax. It is not good. I was happy that cryptocurrency is decentralized and there are no taxes on it but now you are telling about the tax. It means that the income of bitcoin will also reduce due to impose of tax. I think only those countries should collect tax in which crypto is legal and people trade and invest in it openly.

[resty]

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 what happen if bitcoin become regulated by government all people has subject to pay taxes of course BTC is still standing and and continuously brilliant as long as bitcoin still decentralized people don't afraid to lose their profit.

[BigBos]

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 what happen if bitcoin become regulated by government all people has subject to pay taxes of course BTC is still standing and and continuously brilliant as long as bitcoin still decentralized people don't afraid to lose their profit.

but so far, I have never retained crypto to pay taxes. well, maybe this is because there is no such regulation in my country. well, for now, such regulations do not yet exist in my country, even governments in my country are neutral towards this development.

[cintamoni]

It's should be like that, when a successful investor or someone who sells bitcoin into local currency should be taxed. Because if not like that their country will experience an economic crisis and even go bankrupt.
Obviously in the future surely the popularity of bitcoin will be lower, because in addition to successful investors there are also small people who are trying to get very low amounts of bitcoin. Maybe for successful investors this don't affect his business, because I am sure they make quite a lot of profits

First of all government never accept bitcoin they always make policy against bitcoin.Now a day bitcoin price are falling due to these polices.Bitcoin is contentiously banning and the percentage of banning are increasing.

[Astra2127]

In bitcoin industry we are already been taxed. How? Basically, if we are getting money through remittance, do you think you will get the exact amount of money you want to withdraw or get? Ofcourse not, those companies or agencies are having their commission because we are using their service. But if they are into the idea of having tax on bitcoin itself I think they should spend ample time to discuss things on it.

[rhomzkie26]

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.

According to what I understand about paying tax in my perception ,I think I am already paying tax though I know Bitcoin was a decentralize system. Through the exchange that I am using it now where I convert all my bitcoin profit on this platform due to this exchange was bitcoin accepted were it is registered under SEC ( security exchange commission ) which is under by the government, therefore they are paying tax, meaning, we as their user clients to their platform was already paying tax too.

[boyz97]

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 what happen if bitcoin become regulated by government all people has subject to pay taxes of course BTC is still standing and and continuously brilliant as long as bitcoin still decentralized people don't afraid to lose their profit.

i think bitcoin community would not getting low when its regulated by government.but the opposite with it, people are being comfortable with this regulation, and maybe new investors will coming with large money.

[wingsthegreat21]

I personally don't see anything wrong with paying taxes as long as I have my freedom and I'm not being in prison or being treated as a slave ? As an American we all agree to live by the laws of the land this includes paying taxes. But to be frank with you if you decide not to pay taxes on your Bitcoins and the government comes and takes your property because you were not paying taxes it seems to me like it wouldn't matter very much because if you had enough Bitcoin that you weren't paying taxes on and they came and took your property then all you have to do is buy more property? After all they never got the tax your Bitcoins. I don't really recommend this kind of life for anyone especially if you have a family and what's the purpose in it I mean we all want to make money we all pay taxes and we all live a happy life hopefully not in prison.

[Ericgreen]

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.

It will create chaos in the tax system itself before anything else. For example, here, in Soviet Russia (lol) the tax authorities have officially stated that they are not going to do anything about crypto and those who are involved in cryptocurrency operations. And it is not about possessing crypto and declaring it, it is about anything crypto related assuch including income tax on profits earned via cryptocurrency operations ("buy low, sell high"), the tax which you should pay in other countries lest you get in jail. Yes, it is an official position of the Russian tax service, and it is dictated by understanding that going after every potential tax dodger would create more problems than solve

So cryptocurrencies are officially tax-free or tax-exempt in Russia

The population of the Russian Federation is 147 million.
The working population is 71.8 million.
Millions of them are officially not employed anywhere and do not pay taxes.
Citizens of the former Soviet republics + Chinese, Koreans and other people who live without registration can not be counted (several million 2-5, read some opinions). They also do not pay taxes. All issues are resolved through bribes.

This is our country, and mining has nothing to do with it. Catching miners is a difficult task and not the most urgent problem.

I am against this because the government doesn’t help us if there is any mishap but they want to impose tax. It is totally a burden on poor small investors. One thing is possible that tax should be imposing only on big investors because they make huge profits against their investment. Small investors even lose their money due to fall in the price. I will never pay tax.

[Moblie_Legend]

The use of digital currency, such as bitcoin as an investment product by taxpayers (WPs) who get profits must pay income tax (PPh) and must be reported in the annual income tax return. This obligation must be implemented even though bitcoin is not a legal payment system in Indonesia.

[Antu3032]

i think Government give legalization of the crypto currency the process will be approached in the states to completion. then all bitcoin holder can agree pay tax.

[criza]

The taxation regarding Bitcoin holders is not new anymore to other people in other countries that has already paying taxes for the crypto currency world. However, when it comes to other countries, there are no regulatuons yet when it comes to bitcoin. But if all bitcoin holders will have to pay the tax to the government, definitely, the government will somehow regulate almost whole the bitcoin world. And I think that this will not be good since what makes the bitcoin today is the people who believes in its autonomous nature. But on the other hand, if the bitcoin will be on the government's side, then if there will come a time that it may decrease its value, the government may find for ways to make its value increase again; the government could somehow help.