Tax on the crypto currency! What do you think?

[iged_war]

I think we have enough taxes. We pay taxes on everything. While in the cryptocurrency market no taxes, it is in great demand, but I think that taxes will be, when the government accepts cryptocurrency as a payment method for the goods.   

main issue to make government accepts cryptocurrency was taxes.they get much benefits and feed back from this market, so they should have to legalize this market.

[bayu7adi]

I have no problem as long as the tax imposed is still reasonable, in the sense that the government must consider the risks for the BTC holder as well
if the government is able to provide legal protection, then I agree if cryptocurrency users are taxed annually
I am sure that this decision, if true, will become a very good marketing weapon to introduce cryptocurrency officially

[kunmanthonglao]

I think governments should apply a certain tax on cryptocurrency. This will not only help the cryptocurrency be more widely available but will also create long-term market stability. When tax is applied to cryptocurrency it means that the government will sponsor the market, traders will be less risky.

[Kusnechik]

The whole point of cryptocurrency is to maximize the reduction of fees for transactions or even their absence.

[Sama517]

VAT can be charged normally on the goods or services been purchased using cryptocurrency. For instance, if the VAT charge in your jurisdiction is 5%, and you bought an item worth 0.05 BTC, then you can be charged 0.0025 BTC which is the 5% of the item you bought.

[BitTraderCute]

I think governments should apply a certain tax on cryptocurrency. This will not only help the cryptocurrency be more widely available but will also create long-term market stability. When tax is applied to cryptocurrency it means that the government will sponsor the market, traders will be less risky.

traders become confidence if they put their money into cryptocurrency market.no more fud or news about cryptomarket banning that could make investors panic.

[BigTeeths]

If that's the last thing that would help us to succeed on mass adoption then we should let them. I know that a lot of politicians will justify that there's a lot of money in crypto that can help the economy much more but we all know that deep inside, they just see a lot of opportunity in it where they can cash in a lot for their personal interest.

[cc80aa]

  I think its a good option but they have a big changes on the system itself because all profile has hidden and maybe too many big investment there in crypto pull out their investment if that happened.

[KesoNie]

  I think its a good option but they have a big changes on the system itself because all profile has hidden and maybe too many big investment there in crypto pull out their investment if that happened.

im not favor to put tax in crypto because surely only government officials are the ones can get benefits and possible it will cause corruption. Its good idea of having tax but only if its going in a good hands or if it goes automatically in charity, so that tax in crypto is really worth it. Also I think it better to have not a tax crypto because possible government have access to control it.

[jack8989]

I think that would be normal if we were protected by the government or the SEC. All traders here really need a safe market to invest more comfortably. They do not have to worry about whether their investments are hacked or not or whether the trading platform is attacked. Investors are talking about this a lot. So I will not hesitate to pay taxes if I am protected.

[Ridwan Fauzi]

I think we have enough taxes. We pay taxes on everything. While in the cryptocurrency market no taxes, it is in great demand, but I think that taxes will be, when the government accepts cryptocurrency as a payment method for the goods.   

As good slaves we must obey government regulations, even though what the government has given us is not what we expect. Cryptocurrency has a decentralized system, so neither party will dare to influence the system in it. Actually I like what you say at the beginning of the sentence, everything is set up with taxes and the cryptocurrency should be able to avoid taxes, I would prefer that. I do not expect every government in this world to accept cryptocurrency in return for receiving taxes, because basically we don't need the government to use bitcoin and without the government, bitcoin will still worth.

[duoduoshigexiaozhu]

This should not be possible. Perhaps cryptocurrencies are divided on two levels. Coordinated coins and private coins will coexist in the future. Future competition will be more intense, but it also shows that the future of cryptocurrencies is recognized.

[nur rochid]

I think we have enough taxes. We pay taxes on everything. While in the cryptocurrency market no taxes, it is in great demand, but I think that taxes will be, when the government accepts cryptocurrency as a payment method for the goods.   

As good slaves we must obey government regulations, even though what the government has given us is not what we expect. Cryptocurrency has a decentralized system, so neither party will dare to influence the system in it. Actually I like what you say at the beginning of the sentence, everything is set up with taxes and the cryptocurrency should be able to avoid taxes, I would prefer that. I do not expect every government in this world to accept cryptocurrency in return for receiving taxes, because basically we don't need the government to use bitcoin and without the government, bitcoin will still worth.

but to grow rapidly and gain investor confidence, i think the role of government has a big influence. and of course the government is seeking profits from the tax sector, although it is still a debate

[Lumi3004]

If one country applies a tax on cryptocurrency especially, the character of a country's tax must be observed through a cryptocurrency transaction depending on whether the cryptocurrency is a capital asset in the hands of the taxpayer / government.
Or crypto sales profits that qualify as capital assets are netted with other capital gains and losses. I think this needs a long process.

[ganlianshifu1]

Encrypted currency is a new thing. Many countries in the world have not reached a consensus on the regulation of cryptocurrencies!
The taxation of cryptocurrencies also requires a long-term exploration! Taxing cryptocurrencies is very useful for protecting cryptocurrencies!

[basyang]

What I think ? I think its perfect way to legalise the crypto currencies itself and government can also benefit from the taxes that are conveyed through this procedure.
However, taxation is the first step towards making the crypto currencies as legal tender of that particular country and counties if it is big one.

I would say taxes should be applied everywhere for this so that we can sue the crypto currencies the normal way as if we are using the fiat currencies in the first place. So its more or less good thing to have in place.

In my own opinion. Taxes is our way of contribution to the government it is also a source of funds to distribute in every sector of the Government. For me if they want to applied taxes in cryptocurrency then they should legalized Bitcoin to addition of their  collection. When tax applied make sure to legalized bitcoin so both are have an agreement regarding to the possible charges that increase.

[UNOE]

The implications for your taxes due would be significant, depending upon the choice (either FIFO or LIFO methods) you make. So I would suggest to try LIFO and FIFO calculators to decide which method is better for you. Here are the links for very easy-to-use handy Excel sheet for calculating the gains (after commissions) in bitcoin (or other cryptocurrency) trading using FIFO and LIFO methods.

Bitcoin Cryptocurrency FIFO Gain Calculator for Taxation https://www.eloquens.com/tool/3MdIAv/engineering/cryptocurrency-excel-templates/bitcoin-cryptocurrency-fifo-gain-calculator-for-taxation

Bitcoin Cryptocurrency LIFO (Last In First Out) Gain Calculator for Taxation https://www.eloquens.com/tool/3B4lfy9X/engineering/cryptocurrency-excel-templates/bitcoin-cryptocurrency-lifo-last-in-first-out-gain-calculator-for-taxation

Can we choose between LIFO and FIFO with which method do we want to pay taxes?
I think that option will be great. Thanks for sharing these calculators with us.

[Crafts12]

I think it is not realistic to be deaf in the country for every citizen, how much he owns crypto-currencies. Yes, and still recover the tax from it. To be able to collect taxes, the state should control the system itself, where the crypto currency is actually used - and this is not realistic for a single country. Scales are too huge.

I think it is impossible for the governments to control the system of cryptocurrency for a reason that it is hard to control it. Taxes on cryptocurrency in my opinion is somehow good and somehow bad. It is good because putting a certain tax in cryptocurrency can make it more available and accpeted by people because they will surely think it is now a totally a legit thing. Also, tax is a way to help one's country progress for a reason it serves as a fund. Lastly, based on what I read, it can make the market be stable. As for the bad side, not all the people are willing to pay tax.

[awik p]

I think it is not realistic to be deaf in the country for every citizen, how much he owns crypto-currencies. Yes, and still recover the tax from it. To be able to collect taxes, the state should control the system itself, where the crypto currency is actually used - and this is not realistic for a single country. Scales are too huge.

I think it is impossible for the governments to control the system of cryptocurrency for a reason that it is hard to control it. Taxes on cryptocurrency in my opinion is somehow good and somehow bad. It is good because putting a certain tax in cryptocurrency can make it more available and accpeted by people because they will surely think it is now a totally a legit thing. Also, tax is a way to help one's country progress for a reason it serves as a fund. Lastly, based on what I read, it can make the market be stable. As for the bad side, not all the people are willing to pay tax.

i think government can set a tax for each withdrawal into fiat currency, where each transaction will be taxed according to the regulations made. indeed many people are reluctant to pay taxes, so in my country a tax amnesty is held

[Ozero]

Do you see government support for all participants in the cryptocurrency market? What to pay tax for?

Precisely, what to pay tax for even government did support bitcoin as a currency to use. Some reason why some countries are quite on cryptocurrency because they know that this is not controllable with someone else and having a forcing to tax those who have earned in bitcoin. Well, to make this long story short luckily in my country did not implement a tax on crypto we pay tax when we buy goods using our money from bitcoin.

Yes, governments care very little about their citizens in terms of cryptocurrency. Only this year, the fraudulent ICO projects have deceived investors by more than one billion dollars. The reaction of states to these crimes is minimal. The problem of regulating the ICO process on the part of the states has already become overripe for a long time, but little has been done so far in this direction by the states.
Therefore, the issue of taxation in cryptocurrency is a personal question for everyone.