Tax on the crypto currency! What do you think?

[richmcrich]

If they put a tax on cryptocurrency. We can't do anything but to obey or pay it. As long as they will make cryprtocurrency safer. And the tax that we pay will use for the well being of those people who are in needs.

But I do not think the government can increase our security in the crypto when crypto is a world where control is completely absent, it is an independent world and it blocks the control, governments do not really want us good, they just want to benefit from us. So, if they try to impose taxes on the crypto, I will object, unless they do something useful and ensure the future development of crypto, otherwise, they should not think the tax issue, which only leads to meaningless struggles

This is burden on people to pay tax even on keeping decentralized sources and the implementation comes in the form of governmental orders. There are many countries where it is tax free and citizens of those countries are enjoying it a lot, on the other hand countries where there are restrictions from government side over keeping digital assets are paying taxes. So, I do not think so such countries do well because they should also let people enjoy it.

[higgidave]

if there is a tax in crypto can it make crypto legal or not?
for the sake of the future of crypto and the support from the government and the development side of crypto tax results.
the government would certainly take advantage of its capitalization

Taxes in crypto currencies are never been a good thing and is not encouraged by the users of the crypto currencies. Whats the difference between fiat and digital currency, if we need to pay taxes on both.

[strunberg]

I think this cryptocurrency will never be taxable, what is clearer is bitcoin, this bitcoin is created because it wants to make a currency that cannot be controlled or influenced by taxes, bitcoin is a digital currency that is tax free and can be used to store all assets that you have safely and comfortably.

but if bitcoin and other altcoin didnt have legalization from government , big inverstor and finance firm would not courage put their money in cryptomarket.they need certainity from government.

[Clavulanic]

I think this cryptocurrency will never be taxable, what is clearer is bitcoin, this bitcoin is created because it wants to make a currency that cannot be controlled or influenced by taxes, bitcoin is a digital currency that is tax free and can be used to store all assets that you have safely and comfortably.

but if bitcoin and other altcoin didnt have legalization from government , big inverstor and finance firm would not courage put their money in cryptomarket.they need certainity from government.

Taxation of crypto will put us in danger of our assets, and the freedom that we have with decentralized currency will not be as independent like what we have right now. As said here, investors will not risk their money upon putting their money to crypto market due to uncontrolled tax manipulations which government sector might be imposing. This will hinder the demand of trading sites, as well as massive devastation of crypto will be possible to occur.

[vasilev456]

Personally, I think that sooner or later all countries will come to this and this is not going anywhere!

[slocker]

Personally, I think that sooner or later all countries will come to this and this is not going anywhere!

Depending from look on these thing. Many dont want this and we have some countries that legalize or are in the process of it near future. However many want to take tax on cuz most of the people are using it one way or another.

[hastag_80]

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?

Will in  my own opinion taxation of cryptocurrency are good as long its would help the improvement of economic growth and promote social improvement of responsibility  of the country,otherwise  its needs also an legalization on the part of government to operate this digital technology,so that everyrhing coming from the tax of bitcoin would be go into the proper disposition.

[Ekimzjames20]

Personally, I think that sooner or later all countries will come to this and this is not going anywhere!

Depending from look on these thing. Many dont want this and we have some countries that legalize or are in the process of it near future. However many want to take tax on cuz most of the people are using it one way or another.

I think paying tax is both good for cryptocurrency and government. Because they benefits each other, for crytocurrency that is the chance to become ligalised and for government it is a big profits for them.

[jjohnathn]

if there is a tax in crypto can it make crypto legal or not?
for the sake of the future of crypto and the support from the government and the development side of crypto tax results.
the government would certainly take advantage of its capitalization

Regardless of good or bad for the general public, I think it is better to regulate crypto and once crypto is regulated, we all have to pay taxes on it as it will be monitored centrally by the government institutions.

[Mihaylovic]

we are already paying fees. these are for miners that approve the transactions. instead of this fee there is nothing that i have to pay. cryptocurrencies are based on a decentralized system so no one can stop our transactions. there is no any such authority.

[yitzjoe]

I prefer well-established coins where they sit on the top 25 coinmarketcap because crypto has a big risk even though the profit is also large. I have invested in BTC, ETH, XRP, EOS with a balanced portfolio. this can change according to the prevailing trends in the market for the long term

[ayesha703]

I don't have faith in taxes. I actually have a chance to not pay them and that I will not get it on. the govt. ought to build the tax, however, to not extort him. does one see government support for all participants within the cryptocurrency market? What to pay tax for? I hope that sometime I'll have the chance to not use order and that I won't interfere with the govt. in any respect.

Technically you must already be paying taxes to no matter financial gain you're creating in cryptocurrencies however it appears governments wish to create paying your taxes an awfully sophisticated matter, this rather than being associate degree incentive goes to form the angle among those who invest in cryptocurrencies to not trouble try and to|to try and do} it and solely try to sort things up if the exciseman comes knocking at your door.

[dlhezter]

I think this cryptocurrency will never be taxable, what is clearer is bitcoin, this bitcoin is created because it wants to make a currency that cannot be controlled or influenced by taxes, bitcoin is a digital currency that is tax free and can be used to store all assets that you have safely and comfortably.

but if bitcoin and other altcoin didnt have legalization from government , big inverstor and finance firm would not courage put their money in cryptomarket.they need certainity from government.

I think it will be impossible or the government to make taxes on crypto currency, It is worldide and other nations did't know about this thing, I think it should be that the government legalize the section of it, Sonn I think it will replace the bank and other fiat currency only digital currency will remain.

[messito]

I think this is complete nonsense. the crypvo currency was initially created as decentralized and it was not supposed that there would be any taxes

[Caelanpelley]

If electronic money becomes official trading currency and is used by all, protected by law, the income from electronic money can be taxed. But this is also very difficult to implement. Most people who invest in electronic money are those who have money, which is a small part only.

[Barmalei06]

The cryptocurrency market is growing rapidly, and the state, not adapting the tax code to the contemporary challenges of the digital economy, does not receive enough revenue to the budget, since cryptocurrency is outside legal jurisdiction. some countries prohibit cryptocurrency instead of trying itto regulate and work out the mechanism of taxation. but taxes should not be high so that people do not go into the shadows. thanks to a competent tax program, the state could receive additional income

[Rustamm]

It is also hard to take tabs on how much a person is earninng/spending with crypto as there are different wallets, which are again not controlled by the government. Imposing taxes on crypto somehow makes it centralized, which defeats the purpose of it.

The tax on profits from cryptocurrency is introduced and will still be introduced by other states. This is inevitable when the state legalizes cryptocurrencies. True, how it will be implemented in practice, while we know little. Most likely, the provision of necessary information will be imposed on the citizens themselves. Will they pay it in full, this is a question that interests so many. Most likely, if it is installed in a small amount and citizens will consider it fair, then the tax will be paid, and if it is large, citizens will evade paying it.
Moreover, such opportunities will be available.

[Vinz1978]

Almost all crypto currencies are based on decentralized system, which means it will be impossible to have tax for every altcoins. Unless, the government decide to regulate the crypto currency, then once it become legalize or has been regulate I think anyhow the government would have the ability to control it, from decentralize to centralization conversion.

[bangkit tri]

Almost all crypto currencies are based on decentralized system, which means it will be impossible to have tax for every altcoins. Unless, the government decide to regulate the crypto currency, then once it become legalize or has been regulate I think anyhow the government would have the ability to control it, from decentralize to centralization conversion.

we are waiting for development of bitcoin later, of course if government legalizes it, there must be arrangements for cryptocurrency, including tax, for sake of prosperity of community

[bitbunnny]

In majority of countries tax is not payed on Bitcoin itself but only on transactions. And I think this is fair and don't have anything against such policy. This is also something that belongs to regulation.
But it's always very interesting to see how people are not willing to pay taxes but they want to use all benefits and protection from their governments.