Tax on the crypto currency! What do you think?

[piter_wip12592]

If it was created to protect the interests of the investor, I would love it. But in the current market it is difficult to control and collect taxes.

[1714704280]

1714704280

[1714704280]

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[ShitTL]

I think e-government should also pay taxes to the state because after all, it is their property they use bad money to buy so if they own bitcoin or altcoin then they have to pay taxes  on the crypto currency

[chibimanau]

I think the government can not control the flow of cryptocurrency. to be able to calculate taxes accordingly. So to collect taxes on cryptocurrency is not practical. But if through the trading floor they can also control. Currently no trading floor is controlled by the government. If the government collects Bitcoin taxes in the future, I will always be willing. Taxes help my country better.

[Undermood]

There is a situation like this. If the state does not apply taxation, the gains are not legal. The state is trying to say that I can only accept it with the taxation option. This is actually more beneficial. At least we can legally continue this investment. If the tax rate is set so as not to force investors, it is a very reasonable way.

[worle1bm]

I possibly think that taxation policy should only be implemented it the government recognize it as legal tender and regulate it as use for payments same as fiat but the governments did not support it because they know they can't control it but can only trace the transactions.So why do we pay tax to them for such reasons.

[goldade]

For now, I do not think it is possible for the government to charge taxes  bitcoin transactions. This is because transactions made using the blockchain technology is anonymous and not controlled or regulated by a body so as to know who and who made so and so transaction. The government knows that it can only trace transactions and not control it.
However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.

[Guryon_master]

I don't like to tax will be impose in cryptocurrencies and love this system to remain to be decentralized but since the scammers are growing continually I think to be under by the power of government can only be the solution and it is better to send some of my fund in government than sending it to the scammers not unless the scam issue will be solve.

[Gheka]

For now, I do not think it is possible for the government to charge taxes  bitcoin transactions. This is because transactions made using the blockchain technology is anonymous and not controlled or regulated by a body so as to know who and who made so and so transaction. The government knows that it can only trace transactions and not control it.
However, I think if proper measures are put in place, then it might be possible in the future but not any time soon.

Nothing is impossible, the government always possesses a lot of talent, sof inding measures to impose taxes on bitcoin is only a matter of time, they will never ignore this great benefit, which will not fit their style. And my thoughts on this issue are probably that I do not want to have taxes, even I do not like taxes appearing on crypto, I'm earning income here to avoid tax but now tax still comes, it's funny, so if one day, the government can collect taxes from the crypto, I will be the first to stop this game

[CryptoDavies]

Cryptocurrency transactions are not subject to turnover tax. Turnover Tax, of the Directive should be interpreted in such a way that the exchange of a virtual currency for a conventional currency and vice versa and (fiat) currency exchange services are tax free.
 Income in virtual currency is taxable similarly to income in conventional currency. For the purpose of taxation, cryptocurrency profit cannot be accurately tax. For every transaction there should be a valuable tax attached but are government really making use of this tax judiciously? If I have my way,  I would rather prefer that such currency should not be tax in any way.

[bitgov]

For me if crypto will be developing that fast like now it will be used like normal currency in future so goverments need to make some taxes cause people could just "escape" from paying them moving their money to crypto, that mean in future there will be special taxes for crypto in my opinion.

[South Park]

It would be fine for me to pay tax for as long as the rate would be fair enough, if we are not paying tax as of the moment it does not mean that we will never pay tax since the government will never let that happen so let us just accept it.

It sounds irrelevant that the governments are now looking after us and want to implement tax here as well. This is out of mind if something is not a part of asset then how can we see the implementation of taxes there? Cryptocurrencies are called currencies and not an asset just like fiat currencies so tax implementation is not possible here. So this is a currency and it is bad to pay tax on it.

This is why the first step governments always take is to try to define bitcoin as something else most of the time an asset, they cannot admit that bitcoin is a form of money, but at the same time this is why they are having so much problems finding a way to tax it, but even after all of that there is the big problem of how they are going to actually force people to pay those taxes

[tambok]

It would be fine for me to pay tax for as long as the rate would be fair enough, if we are not paying tax as of the moment it does not mean that we will never pay tax since the government will never let that happen so let us just accept it.

It sounds irrelevant that the governments are now looking after us and want to implement tax here as well. This is out of mind if something is not a part of asset then how can we see the implementation of taxes there? Cryptocurrencies are called currencies and not an asset just like fiat currencies so tax implementation is not possible here. So this is a currency and it is bad to pay tax on it.

This is why the first step governments always take is to try to define bitcoin as something else most of the time an asset, they cannot admit that bitcoin is a form of money, but at the same time this is why they are having so much problems finding a way to tax it, but even after all of that there is the big problem of how they are going to actually force people to pay those taxes

Well, knowing our government for sure that they will do everything just for them to just get what they need from us and one thing that they don't really want to happen is that we are earning but we are not declaring it so they will really do everything for them to implement rules on this.

[sieemma]

I do not mind paying taxes in any way if only we will get protected by this bodies. There are too many people who are scammed always. The reason why linked tax paying and protection is that government will not just take tax from you if it is not regulating you. They will put in place measures to protect the inexperienced crypto user.

[verziagra]

Taxes will greatly help the country's economy if all the crypto assets that everyone owns apply to pay taxes on each transaction or send tokens and coins. eg 1% or 2% of total assets owned.

[pinoyden]

Taxes will greatly help the country's economy if all the crypto assets that everyone owns apply to pay taxes on each transaction or send tokens and coins. eg 1% or 2% of total assets owned.

no. because cryptos arent hold by any countries , so if we are charged by a tax for using a crypto. who do you think will collect those tax? governments? no not either because as i said earlier , cryptos arent hold by any organizations.  that is the main reason why tax isnt implemented on crytocurrencies which is a good thing for its users because we can enjoy a full value of what we pay or recieved.

tax isnt always a good idea beacause there are some corrupt officials , that only pockets the tax that they collect from the public.

[onebtcforlife]

Taxes will greatly help the country's economy if all the crypto assets that everyone owns apply to pay taxes on each transaction or send tokens and coins. eg 1% or 2% of total assets owned.

Before that, they need to release the tax guidelines for the people who are trading crypto's but it depends on their country rules and regulation because some countries might charge high % compared to other countries.

[celakkenyang]

Is the tax imposed on every crypto asset will incriminate user crypto? I think crypto users will be reduced because they have to pay a very expensive display. the value of crypto in each year has increased. this will affect the cost for each year.

[Crystal24]

Tax is good. So how possible will it be to impose tax on cryptocurrency users considering the fact that , there's nothing like link between  onchain and off chain addresses of crypto owners?

[SirLancelot]

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?

Okay, so how is the tax going to work,  will only one government be charging all taxes or what? In my country I don’t think the government is ready to charge any kind of tax on bitcoin users and I also don’t think anyone here is ready to pay tax.

So if you’re government charge you tax for making use of bitcoin in carrying out transactions and making investments, then that’s yours to worry about, it’s not affecting others in anyway. And by the way the government shouldn’t be charging tax on bitcoin cause they have nothing to do with it. Maybe you’re a government worker. 🤔

[ordeath]

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?

My country they have not issued the law which would put on their taxes my cryptocurrency income,  but when they would do and if they would make it affordable and Wise I think I would not be against it.