Bitcoin holders will have to pay their tax?

[nur rochid]

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.

from your story, i think we have been indirectly taxed. because every income we get from bitcoin must be included in the annual tax reporting, so it will be subject to income tax

[htconem7]

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.

Taxation is a duty of every person, once the government has levied bitcoin, which means that the government has accepted the bitcoin. The government's acceptance of bitcoin is being more than ever expected, it would be news to advertise bitcoin and I believe the bitcoin exchange will be expanded

[cintamoni]

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.

There was a time when bitcoin price was 20k and now its just 6,400$ which makes a big difference.But if government accept it they'll surly apply highly tax because its volatile and government makes big profit.

[FortFC]

If any government applies the taxation system to a cryptocurrency holder that it most likely kills the initial idea of digital currency existence and use

[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.

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.

There was a time when bitcoin price was 20k and now its just 6,400$ which makes a big difference.But if government accept it they'll surly apply highly tax because its volatile and government makes big profit.

Irrespective of the price in the market, the government will always charge maximum possible tax rate for the crypto industry because not everyone will disclose his crypto holding or profits so, in order to recover the amount of evaded tax, the genuine taxpayers will suffer from it. There must be some concrete mechanism if the government is willing to levy a tax on the crypto sector.

[xitrum]

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

Maybe I have to pay income tax on monthly bitcoin profits, bitcoin taxes are reasonable and I support them. Tax helps the government protect and develop bitcoin, tax revenue means the government has accepted bitcoin

[Norihiro]

No, I don't think that they have to. And I can't imagine a law which will make them to do so, BTC wallets are non-personalized.

[alfs75]

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.

Actualy in this situation,if the bitcoin earners would pay taxes to the government,i thinks i probably agree this kind of law as long they they make the crypto become regulated and legalized in order to centralized all the transaction of exchange market,and if by this happen  the  taxes we payed can be used in some  infrastracture  and development progress of our country  like by building bridges and other social economic development.

[Riddikulo]

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.

When Bitcoin becomes the recognized cryptocurrency, we will all have to pay the taxes for the operations with it. I know that this system work already in some European countries.

[Violettochka]

IMO it won't make a fatal difference in the community. Those who doesn't take crypto seriously probably will leave but most people will stay.

[Xardasim]

If any government applies the taxation system to a cryptocurrency holder that it most likely kills the initial idea of digital currency existence and use

Taxation should also be available if the governments exist. Because all public expenditures cannot be paid by their own pockets. We don't live in crypto world, so today's payment method is paper money.

[BlueStackz]

You should listen to news and read latest articles in order to stay update. Bitcoin has been successfully recognized by so many developed countries of the world such as America, England, Japan and so on. Recently Germany has also recognized bitcoin which means it is legal in these states. Bitcoin is decentralized so no one can put tax on it.

If people cooperate with government then it will build economy as well and our living style will become more comfortable. Fiat is also helping us out in our countries but when we look at the cryptocurrency and furthermore discuss about tax then it feels irrelevant to pay tax on it as it is decentralized and government should give us free hand in it as they are collecting tax on other things so they have to make it tax free for us just like other countries are tax free for it. Government can make our living style comfortable as they are taking tax from us in other things.

[chuyengia2244]

No, I don't think that they have to. And I can't imagine a law which will make them to do so, BTC wallets are non-personalized.

They are still looking for ways, it is very difficult but they will try to limit the loss of budget. Taxes are the lifeblood of a nation, bitcoin holders will good source of income if they can control these people.

[Afro19]

it is top if all of the Bitcoin users pays their taxes. through this, we are able to say with self assurance that Bitcoin is supporting every u . s .'s financial system. and that i realize that extra people will join the crypto world no matter the tax that they need to pay.

[nambunamba]

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.

Whats wrong in tax? its good for development of country, and i think you are pay tax in everything you buy and for everything you eat. I dont think its a problem that will makes me stay away from cryptocurrency.

[airdrop21]

Yes. For sure.
I wouldn't skip taxes for any reason. I know that it is good for the government, for my country and the people when all citizens pay taxes.
In poorer countries, the taxes are low and people also skip paying taxes which cause the country a lot of problems.
It is good to pay taxes.

[jamids]

Yes. For sure.
I wouldn't skip taxes for any reason. I know that it is good for the government, for my country and the people when all citizens pay taxes.
In poorer countries, the taxes are low and people also skip paying taxes which cause the country a lot of problems.
It is good to pay taxes.

Some just don't want to pay taxes because they can see that the officials of the government are corrupt and just using the funds for their own benefit. If the taxes are use properly then there should be progress in a country but then there are so many corrupt officials that's why those who wanted to pay would think twice. All people who has income should pay their taxes because it's the blood of the government and without it, it wouldn't be able ti function properly. It depends on the law of your government if you have to pay tax or not.

[KS03]

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 only pay your taxes if you fear the terrorists attempting to extract it out of you.  Stop identifying yourself with KYC.  Stop expecting the government to save you (they are killing us off). Stop letting them steal from you.  You didn't sign up for it. 

[tatum506]

No, I don't think that they have to. And I can't imagine a law which will make them to do so, BTC wallets are non-personalized.

They are still looking for ways, it is very difficult but they will try to limit the loss of budget. Taxes are the lifeblood of a nation, bitcoin holders will good source of income if they can control these people.

I same you and I support the income tax from bitcoin, there are thousands of people become billionaires in day trading bitcoin. These contributions are extremely large, it gives the government capital and the government will support bitcoin

[Irviyandi]

Maybe Bitcoiner's income will decrease if the government requires to pay taxes but it seems this is impossible because bitcoin is illegal in most countries so the government does not have the slightest right to require bitcoin holders to pay taxes