Squa7ch
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Activity: 71
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July 03, 2018, 05:10:48 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
Yes. You are correct. For a fact that countries that have high tax also have high quality of living. At the end of the day your taxes going to the goverment help contribute to a better life for you, families, children... |
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Bezobraznike
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Activity: 1274
Merit: 261
★Bitvest.io★ Play Plinko or Invest!
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July 03, 2018, 05:42:04 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
Yes. You are correct. For a fact that countries that have high tax also have high quality of living. At the end of the day your taxes going to the goverment help contribute to a better life for you, families, children... We need to pay taxes cause that`s the money that should be used for all of the people that lives in one country. The money we pay fund many services, our tax help to support police, health care, firefighters, building roads and many other things. Paying tax should be beneficial for the entire nation, from tax money and how government use it depends country growth. I pay tax, for me that`s not a problem. I would pay tax for my Bitcoins, but there isn`t law about it in my country. |
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andika2018
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Activity: 700
Merit: 10
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July 03, 2018, 07:31:47 AM |
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If we want government regulating cryptocurrency, tax is can not avoided. I think nothing wrong if we paying taxes from our cryptocurrency trade. We creating profits and earn extra money and more confident with our investment.
If we are paying taxes on our cryptocurrency trade, thats mean cryptocurrency is legal commodities and legal to use for any purpose, its good thing for cryptocurrency communities
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lol1yatme
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Activity: 200
Merit: 10
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July 03, 2018, 08:10:52 AM |
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to redeem the bitcoin I change to the fiat currency, there is some percentage of deduction to be done. and when I transfer to the bank account number after I change my BTC assets to the fiat it is charged a few percent reduction. I think it's the same as the application of taxation so I think the tax system is running but there is no discourse in the government's explanation of bitcoin tax imposition.
That is a critical evaluation but in my opinion, we are going to pay even more than what you think. We pay the sales taxes if we pay for any good or service through Bitcoin but that is not just it. The government can also think about the progressive taxation on the money earned through Bitcoin. This is going to pain those who earn and have been holding their portfolios. But let’s hope the government does not do that. |
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Tiktik
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July 03, 2018, 08:12:34 AM |
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I think that there is still no and there can not be any tools for regulating and paying taxes for crypto-currencies. It's still early to talk about this, it takes more time.
Well some of the countries put one agency or bank on where they convert their bitcoin into cash by that they can collect tax to the users and the other government wants to happen is the user should declare bitcoin as an assets and by that they can see who are the benefactor of it but I know people would not agree on that plan. |
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wantjokull
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July 03, 2018, 08:18:44 AM |
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Why not, its the great way to consider the bitcoin and other crypto currency as part of our real life products and services that we use. I guess thats the way to pretend all the crypto currency as real life thing and with the time it can be very general currency and its use will be accommodated likewise.
Thats the benefit of adopting these currencies for the purpose of legality status. This way both ends get benefited, the first we the investors get assurance of legal status and the second government who can get taxes on behalf of letting us use it.
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dario.93
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July 03, 2018, 11:06:23 AM |
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There are several tax options today, and all of them can be applied to crypto-currencies, depending on how the latter are defined in the state. Most often, the following taxes are introduced: - Value Added Tax (VAT). It can be levied by trade operations made with the help of crypto currency as a means of payment, as well as currency exchange. Basically - the exchange of crypto currency for fiat money, but in theory VAT can be levied on the exchange of crypto currency between each other. It operates mainly in those countries where crypto-currencies are recognized as a payment instrument, for example, in Japan. When buying goods and services for cryptocurrensies, VAT will also have to be paid to the residents of the UK, but they can exchange the crypto-currencies for fiat without paying VAT.
- Tax on goods and services. A kind of analogue of VAT for those countries that have recognized crypto-currencies are not a means of payment, but a commodity. Acts on the same principle as VAT. Only in the case of VAT, the taxpayer is in fact a buyer, and in the case of a tax on goods and services, a supplier of goods and services, in this case a holder of a crypto currency. He has been working in Singapore for several years. At the beginning of this year, a similar system was adopted by Israel with respect to the mining, which was equated with the production of goods.
- Personal income tax. Personal incomes in crypto-currencies are taxed, for example, the salary paid by the employer in bitcoins. Implemented, for example, in the US.
- Profits tax. They are subject to any companies that make a profit. Also, they are subject to profits earned as a result of trading on the exchange and the performance of other currency transactions. In the cryptosphere, this system is used specifically to tax the crypto traders and various crypto-currency organizations (from the exchange of crypto-currencies to the pools for mining). Mining may also be subject to profit tax. In the US, for example, take into account the profit from crypto-activity in the tax declaration will have to be traders and miners, and all people who somehow earn on crypto-currencies as a result of speculation. The same tax is levied on all crypto-currency transactions made by legal entities in Australia and Japan.
- Capital gains tax. They are subject to income of individuals and legal entities obtained as a result of investing in shares, bonds, securities, valuable assets and so on. In the cryptosphere, it starts acting as soon as the crypto-currencies are equated to valuable assets. Not only investors fall in, but all holders are also crypto currency. This system is implemented in the US, where it matters how long the holders of crypto currency keep them and in what quantity. He also works in Australia, Brazil, Canada and in many EU countries - Bulgaria, Finland, Germany, Spain and others.
- Property tax. For the cryptosphere, it becomes important when the crypto-currencies are recognized as property, a valuable asset that is owned. As soon as such an amendment is made, the holder of the crypto currency is required to notify the tax service of all transactions concluded with this asset. Such an amendment was introduced in the US tax legislation, where the crypto-currencies in this case are presented as a valuable asset, and in Australia, where they are recognized as property.
What do you think about the taxation of cryptocurrencies? Which model fits best? I am only aware that my country would not put the tax that we cannot afford, because we had something similar with small business, when interpreneurs must pay the tax that they actually not always can afford. |
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crypki21
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Activity: 72
Merit: 10
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July 03, 2018, 11:09:23 AM |
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If there would a concrete, transparent central regulation on earnings from crypto, and they would not want to take away third of the profit, I would say I pay them. Better to be clean and do not have to worry as long as rates are not unreasonably high...
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meanwords
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July 03, 2018, 11:23:42 AM |
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A tax would mean everything in the cryptocurrency. If one of the tax that you have mentioned in there where to be implement in the cryptocurrency space, it would mean that the government is recognizing the usage of it and that they are telling the people that it's safe to use. I think Taxes on goods and services would be a better choice for the masses because as of now, we know that there are a lot of ICOs out there that gives so many kinds of services to the public. Taxes on this would mean that this things are getting serious.
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didik12
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Activity: 124
Merit: 10
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July 03, 2018, 10:22:09 PM |
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Tax in crypoto currency when they have a tax the crypto currency is become legal in the country. Become legal a lot of people asking what is this what is bitcoin a lot become curious when he/she knows how bitcoin gives a huge money to all users. The users have tax maybe sometime the tax is become higher and maybe become currupt because government is making a tax.
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sclmte
Member
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Activity: 434
Merit: 10
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July 04, 2018, 12:17:01 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
I really doubt why people won't understand that, knowing taxes will give help into the community improvement and additional income in our government. But we can't deny also, some authorities doing abusive way of collecting taxes from the people which could make them angry and don't wanting it happen in crypto. |
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Pattart
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July 04, 2018, 12:45:13 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
I also don't think it's a big deal. there must be consequences from the government if they want to tax the bitcoins. that is the legality of bitcoin. as long as they want to legalize bitcoin. I have no problem with the taxes that will be applied. It will be beneficial for both of them |
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Kambala07
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Activity: 31
Merit: 0
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July 04, 2018, 06:17:10 AM |
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The taxes in crypoto currency when they have a crypto currency tax becomes legal in that country. Being legal many people ask what this is what many bitcoin become curious about when he knows how bitcoin gives big money to all users. Users having taxes may sometimes taxes become higher and may become fast as the government makes taxes.
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Farma
Legendary
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Activity: 2534
Merit: 1001
Leading Crypto Sports Betting & Casino Platform
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July 04, 2018, 09:01:01 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
I also don't think it's a big deal. there must be consequences from the government if they want to tax the bitcoins. that is the legality of bitcoin. as long as they want to legalize bitcoin. I have no problem with the taxes that will be applied. It will be beneficial for both of them well, if there is a purpose of the tax, and the goal is also pretty good, I think it does not matter. the problem is when you pay the crypto taxes, but you do not know what the purpose of the tax is. well, all that is done must have a purpose for common purposes. |
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weblouartisan
Full Member
Offline
Activity: 448
Merit: 100
Lets Go Adab
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July 04, 2018, 10:14:27 AM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
In my own opinion, cryptocurrency should not have any taxes because the people who are investing cryptocurrency are already paying transaction fees in order to transfer their coins to another wallet. |
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KingdomHearts
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July 04, 2018, 11:35:04 AM |
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There are several tax options today, and all of them can be applied to crypto-currencies, depending on how the latter are defined in the state. Most often, the following taxes are introduced: - Value Added Tax (VAT). It can be levied by trade operations made with the help of crypto currency as a means of payment, as well as currency exchange. Basically - the exchange of crypto currency for fiat money, but in theory VAT can be levied on the exchange of crypto currency between each other. It operates mainly in those countries where crypto-currencies are recognized as a payment instrument, for example, in Japan. When buying goods and services for cryptocurrensies, VAT will also have to be paid to the residents of the UK, but they can exchange the crypto-currencies for fiat without paying VAT.
- Tax on goods and services. A kind of analogue of VAT for those countries that have recognized crypto-currencies are not a means of payment, but a commodity. Acts on the same principle as VAT. Only in the case of VAT, the taxpayer is in fact a buyer, and in the case of a tax on goods and services, a supplier of goods and services, in this case a holder of a crypto currency. He has been working in Singapore for several years. At the beginning of this year, a similar system was adopted by Israel with respect to the mining, which was equated with the production of goods.
- Personal income tax. Personal incomes in crypto-currencies are taxed, for example, the salary paid by the employer in bitcoins. Implemented, for example, in the US.
- Profits tax. They are subject to any companies that make a profit. Also, they are subject to profits earned as a result of trading on the exchange and the performance of other currency transactions. In the cryptosphere, this system is used specifically to tax the crypto traders and various crypto-currency organizations (from the exchange of crypto-currencies to the pools for mining). Mining may also be subject to profit tax. In the US, for example, take into account the profit from crypto-activity in the tax declaration will have to be traders and miners, and all people who somehow earn on crypto-currencies as a result of speculation. The same tax is levied on all crypto-currency transactions made by legal entities in Australia and Japan.
- Capital gains tax. They are subject to income of individuals and legal entities obtained as a result of investing in shares, bonds, securities, valuable assets and so on. In the cryptosphere, it starts acting as soon as the crypto-currencies are equated to valuable assets. Not only investors fall in, but all holders are also crypto currency. This system is implemented in the US, where it matters how long the holders of crypto currency keep them and in what quantity. He also works in Australia, Brazil, Canada and in many EU countries - Bulgaria, Finland, Germany, Spain and others.
- Property tax. For the cryptosphere, it becomes important when the crypto-currencies are recognized as property, a valuable asset that is owned. As soon as such an amendment is made, the holder of the crypto currency is required to notify the tax service of all transactions concluded with this asset. Such an amendment was introduced in the US tax legislation, where the crypto-currencies in this case are presented as a valuable asset, and in Australia, where they are recognized as property.
What do you think about the taxation of cryptocurrencies? Which model fits best? If they are going to start charging tax for the use of Bitcoin, then it’s no longer Bitcoin we know, and such a thing can never happen unless the individuals decides to hand everything over to the government. Every transaction that is being made from any country, the government of that country will charge tax for it. They won’t just charge it direct, exchangers will be the ones charging it or maybe they will include a percentage of the government in mining fees. Not a good idea for me. |
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Altero
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July 04, 2018, 11:51:47 AM |
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If there would a concrete, transparent central regulation on earnings from crypto, and they would not want to take away third of the profit, I would say I pay them. Better to be clean and do not have to worry as long as rates are not unreasonably high...
Governments are already aware of how much people might get from crypto, it is big, that's why government have interest to take some of it. Actually, there is no problem with that unless they take those taxes for the seek of their own interest and not for the benefits of the community. People get worry with that event and seems unreasonable act of banning crypto in some country as the contrary of their actions. |
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dario.93
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July 04, 2018, 12:11:29 PM |
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For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe
It is a good point of view, but not all governments are responsible. In many countries or corruption inside the system, so if you pay tax that money goes to the pocket of some politics. It's very pity, as for me. |
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t2yax
Sr. Member
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Activity: 462
Merit: 250
Arianee:Smart-link Connecting Owners,Assets,Brands
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July 04, 2018, 12:15:14 PM |
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We can see what will be the future of cryptocurrency if tax will be approved. We know what are the effects of tax, especially if our profits is too low. We cannot get the whole income, there will be always a percentage for tax. Is not like our income, a little profit for small investment can cause a big problem for us.
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reinielle26
Member
Offline
Activity: 199
Merit: 10
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July 04, 2018, 01:15:03 PM |
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I dont mind paying taxes as long as I earn a big sum of money. But let's pray and hope that we wont have to pay it in cryptocurrency. If it happens theres no difference in using crypto and fiat. Tax is the main reason of some people who adopted crypto. Although taxes are spent for our benefits we cant deny the fact that there are high ranking officials who are abusing their powers and stealing from us through taxes.
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