Do people have to pay taxes on Bitcoin?

[cryptocity90]

Before paying taxes the government should give some clarity on Bitcoin is legalised in those countries.Some countries don't permit bitcoin as legally so there taxes not count.

[Saveplus]

Bitcoin was decentralized no law that bitcoin imposing tax on every transactions we've made.If bitcoin was in legal there is a possibilty that government can impose tax on it and if we have rules and regulations on crypto.

[Posteruma]

PAying taxes is not a bad choice. İf goverment legally require tax from earned profit citizen should pay. It is my opinion. Most of countries not accepted crypto legally yet. So paying tax for BTC is not necessary issue right now.

[fnamcma879]

I think it is good. It is not a simple matter to legalize Bitcoin. So the government to impose a tax on Bitcoin is the right thing to do.

[MinxCryptoAtty]

Depends on the government but in the United States, the IRS treats virtual currency as property for federal tax purposes. General tax principles that apply to property transactions apply to transactions using virtual currency.  It would also be prudent to check state income tax regulations.

Huong Lam, Esq.
http://www.attorneybitcoin.com/

[Temujhin]

Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.

Is it a good decision or bad?

As long as I use bitcoin I have never paid taxes, because in my country there are no regulations or tax collection on cryptocurrency, because the government still has not adopted and legalized the crypto currency therefore I hope to process digital currency because economic and development benefits will be good for country

[ethereumhunter]

I think people don't pay taxes on bitcoin but I don't know about the country that already accepts bitcoin whether they need to pay the taxes or not. but I think if the governments want people to pay taxes, then we need to obey the rule because we lived in that country and we are the citizen of that country. this will give a support for the economy of the country and I think with this way, cryptocurrency will be legal in that country because the governments can take something from the bitcoin user.

[rameyhong]

What I know, there are various laws in many countries that can cause income, sales, payroll, profit, or other forms of tax liability to appear with Bitcoin. And when your country requires it, then I think you have to do it, you have to pay taxes for that.

[satana_igor666]

I am against the fact that the crypto currency has been taxed and I think it's wrong.  It is good that there is no tax in my country yet.

[treetoneman]

Taxes should be paied when you turn Bitcoin into cash at least in my country.

[bajigur894784]

I personally have no problem with that.

On the one hand, I think, if your country does require you to pay bitcoin tax, then you have to pay it. but, on the one hand, maybe people will disagree because some people go to bitcoin to avoid taxes.

[LimeFeline]

In my country I only have to pay a tax when I exchange my bitcoin for cash and make a profit. Other than that any transactions with Bitcoin are not under taxation.

[delphic]

Any taxes are not the most pleasant thing for taxpayers.Americans amaze me at all)))They still do not understand their attitude to bitcoin,but have already imposed its biggest tax)))I believe that you have to pay tax if you cash it in the state.If you just earned it and transferred to another business, the tax is not necessary to pay.Actually nowadays everything is taxed,even find the treasure and win.I think that bitcoin aside, they will not leave.But it may help to speed up the process of its legalization.

[BTCGOLD]

Before paying taxes the government should give some clarity on Bitcoin is legalised in those countries.Some countries don't permit bitcoin as legally so there taxes not count.

That is true only in some point cause if we put money in crypto and get more it is just easy to say that we are earning so you need to pay tax from money that you have earned no matter how.

[Aleh777]

It depends upon the government of the country, normally there is no tax for bitcoin. If the government announced to pay tax means then you have to pay. There is nothing wrong in that, because the government wants to prevent the people using bitcoin money as illegal. But people change their bitcoin to local in local exchange for that only they have to pay transaction fees. Other than that there is no taxation for bitcoin. At the same time some countries ask their people to pay tax.

[Andrew S]

I've always been against paying taxes to the government for crypto currency, because I think it's wrong.

[ani4]

If you are staying within the crypto-space and not going through centralised Legal entities to convert to and from FIAT (TENDER FOR LAW), then they have absolutely ZERO jurisdiction to impose any taxation on your private crypto holdings or earnings.

There is no need to hand over jurisdiction when not needed and it is quite clear to anyone with a working brain that the Babylonian Legal system including governments/banks and other bankers masquerading as public corporations are completely corrupt and commit crimes against humanity including poverty and war crimes on a daily basis. Why on earth anyone would want to voluntarily hand over their assets when there is no need to is beyond me. I'm against funding criminal non-transparent organisations myself.

[Aurora Castro]

Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.

Is it a good decision or bad?

pay taxes for bitcoin would lose the essence for which this cryptocurrency was created. Bitcoin should work as it has done so far, as it has been a great opportunity for people not to be run by a government.

[Andrew S]

Personally, I am against the government imposing taxes on transactions with bitcoin.

[sunsilk]

Personally, I am against the government imposing taxes on transactions with bitcoin.

We have to follow the rule of the government if they impose taxation.

I've always been against paying taxes to the government for crypto currency, because I think it's wrong.

You have to be a law abiding citizen, I'm also not in favor of putting taxes to bitcoin but what can we do if the government steps in and intervenes with cryptocurrency.

I know that many people here doesn't really want to pay taxes but if the return is that the government will guarantee bitcoin is a good and safe investment to the citizens, it's a fair decision.