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Author Topic: Tax on the crypto currency! What do you think?  (Read 1548 times)
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June 24, 2018, 03:40:04 AM
 #21

Thank you so much about this topic. It help me learn about crypto and taxes.
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June 24, 2018, 04:57:57 AM
 #22

Technically you should already be paying taxes to whatever income you are making in cryptocurrencies but it seems governments want to make paying your taxes a very complicated matter, this instead of being an incentive is going to create the attitude among those that invest in cryptocurrencies to not bother to do it and only try to fix things up if the taxman comes knocking at your door.
They really have a clear way to pay taxes through your income with cryptocurrency, with regards this thing it quiet complicated and people are still trying no to pay taxes. Its ok to pay taxes but make sure you are paying in the right governing body because some politicians are really corrupt, hope taxation will be good in the future with regards to this kind of technology.

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June 24, 2018, 05:50:50 AM
 #23

Well if the government will implement a collection of tax in cryptocurrency we had no choice then but to pay.We are obligue to follow the law.Even if the transactions are untraceable it doesnt mean we can be free into it.For sure the government will make some actions on how to deal with it to collect tax.As of now it doesnt happened  but who knows what happened in the near future.
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June 24, 2018, 06:04:39 AM
 #24

Already some countries countries around the world has begun to tax on bitcoin. As countries have begun to regulate bitcoin, taxing bitcoin can be expected throughout the world. When it comes to implementation it is truly hard to collect tax for bitcoin. Because countries which has already imposed tax on bitcoin has added bitcoin to the commodity segment.

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June 24, 2018, 06:33:34 AM
 #25

In some countries you can't convert your fiat to crypto without proper KYC. So the Govt knows how much you have invested and how much you have lost/gained. You just have to pay taxes as per your income/salary slab if you have gained from it. It is as simple as that. Maybe not in all, but in some countries.
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June 24, 2018, 09:29:39 AM
 #26

In my opinion, this is a sensitive issue, of course I do not want that to happen and I think there will be others like me. Many governments want to intervene in the cryptocurrency market and they want to tax this kind of money. However, the essence of cryptocurreny is the freedom currency, no one can control and intervene them. If they are taxed I believe there will be a lot of opposition. This is just my opinion

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June 24, 2018, 09:54:06 AM
 #27

As far as anonymity is concerned, this situation is absolutely impossible, but to think of today's stock exchanges, we want all kinds of documents, and so our wallet addresses are easily revealed. That is why it is now quite easy to follow the flow of money, but it is still not possible to follow anonymously held wallets. For that reason, we should take care to remain anonymous so that we do not get too attached to the taxation system.


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June 24, 2018, 08:21:15 PM
 #28

If the cryptocurrencies start to be taxed by the government I think it will lose it’s risky status. If governments start to tax these cryptocurrencies they will gain an official kind of status and will gain stability. Taxation will bring more safety yes but I think it will cause to lose it’s nature of risky investment.

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June 24, 2018, 08:28:40 PM
 #29

there is no VAT on crypto in Europe.Now i am going to enjoy one year crypto tax free until new legislation will be done
Current  one was really awful it was possible to pay higher taxes than income from trading crypto


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June 24, 2018, 09:09:32 PM
 #30

for ne taxes is good. because it help your country economy grow. taxes also make a public building to help people and assist them. taxes also use to pay our poluce , teacher , presedent and etc. without them the country will hard to stand. and if you pay your taxes you will also help your self

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June 25, 2018, 11:50:56 AM
 #31

I think it is fine if the governments want to apply the tax for cryptocurrency user so we don't have to be worry or afraid to use cryptocurrency. we need to obey the rule if we still live in our country because we don't want to make something bad for our life. with the tax on the cryptocurrency, I think in the future, the government will accepting cryptocurrency so we can use cryptocurrency in our daily life and who knows, with tax for cryptocurrency user, cryptocurrency will grow fast in all countries.

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June 25, 2018, 12:37:37 PM
 #32

For me it does not matter we pay taxes for Crypto money that we have, because if we have been charged to pay from Crypto that we have it means Cryptocurrency is official and legitimate in my country. I'm glad it happened.
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June 25, 2018, 10:26:07 PM
 #33

I dont realy like bitcoins to be taxable because we are the one who worked hard to earn it and the government doesnt have any right to collect any amunt from us. They already applied stupid taxes on food and drinks included transport so I think that already too much of generosity from us.
People are very brave when it comes to declare they are not going to pay their taxes when they are posting here in the forum, but if the government finds out you are earning money through cryptocurrencies and decide to do an audit to you and they tell you that you need to pay your taxes or go to jail I will bet that most people will decide to pay their taxes.



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Rainbot
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June 25, 2018, 11:02:32 PM
 #34

The world is setting off a wave of encrypted digital currency taxation!
The government may collect property taxes on cryptocurrencies. Tax authorities in many countries use cryptocurrencies as assets to tax them!
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June 25, 2018, 11:22:39 PM
 #35

While Tax is an important topic to discuss as of today, always keep in mind that governments will face a very hard time to collect taxes in future.

once you have money in millions, you will create your own wallet where you will store bitcoin; and not on coinbase
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June 26, 2018, 01:35:42 AM
 #36

Taxes on cryptocurrency is important if we want cryptomarket regulated by government. I think tax the best model for taxation on cryptocurrency is from our profits or capital gain tax. Its more fair because we make profits and from that profits we paying tax.

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June 26, 2018, 01:45:33 AM
 #37

It is hard or impossible to put tax in cryptocurrency as transactions by certain individuals are hard to trace therefore it is hard to put a tax into it. Also if individuals are not declaring what they earn in cryptocurrency then they cannot be taxed as there are no traces of it this is why governments are afraid of cryptocurrency and some countries are banning it.

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June 26, 2018, 02:49:42 AM
 #38

Governments are not going to listen or care about our profit they will imply the tax which will generate more revenue for them. Over here in my country i think govt will put cryptocurrencies in capital gains section. Either way i just want it to be taxable as soon as possible so that these rumour games of crypto ban ends.

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June 26, 2018, 03:48:17 AM
 #39

I think it's more in line with capital gains tax. Then again, you have to consider this. If you gain from your holdings the government with get a slice of it. But if you lose, they won't bail you out. I myself if for crypto currency taxation so that the government will just shut up and join in. But then again, there are loop holes to get away with paying them.

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June 26, 2018, 03:13:31 PM
 #40

 I think that if it would be operating and functioning properly, it is really a good thing to solve the problem with government, that if they would have some money taxed from earnings of the cryptocurrencies.

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