Do people have to pay taxes on Bitcoin?

[canej]

This is a good solution only for the state, because in this way they will improve the economic situation in the country. For US residents who use bitcoin, this is only an extra cost.

[Mhd-Bobbi]

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?

I do not agree if BTC usage is taxed.
If they use BTC, but they don't have BTC in their wallet, do they have to pay taxes?
I think the government is enough to receive building taxes, vehicles.

[Rooster101]

Many countries did not allowed any cryptocurrency to be used by their people so there is no need for taxation even some of them buying and selling cryptocurrencies in the underground exchanges. When a government legalized bitcoin, taxation will surely follows with the addition of crypto regulation. If there is a law that requires you to pay taxes in your bitcoin transactions then you should follow it.

[maarx]

Many countries did not allowed any cryptocurrency to be used by their people so there is no need for taxation even some of them buying and selling cryptocurrencies in the underground exchanges. When a government legalized bitcoin, taxation will surely follows with the addition of crypto regulation. If there is a law that requires you to pay taxes in your bitcoin transactions then you should follow it.

I would love to pay tax if my country accepts bitcoin and imposes any rules on paying tax to the bitcoin earnings. When you have rules on it, just abide by it as the one who set this rule knows how good they should be to their citizens. Its ok to pay the tax but there should be a limit. I had to come across few of my friend from different countries expressing how much they are taxed. They really expect thier country to decrease the percentage. Always, based on one's income, the tax rate differs. But still the citizens do expect to reduce the percentage on tax.

[savioroshan]

My opinion is bitcoin has to be taxed as the same ratio where we buy shares from the stock market. So that legality for the bitcoin market can be resolved and it can be widely used for all sorts of transactions.

[LeGaulois]

@maarx
You are confusing something. No matter if your country doesn't accept bitcoin, you are supposed to pay your tax related to your income. How do you pay it is another story that they let you deal with

@savioroshan
You are comparing it with the stock market and propose to tax Bitcoin the same since you are only watching for the "investors " side.
But what about those who are working and paid in crypto, mine a crypto and have the infrastructure to pay, etc should they be taxed like a worker or as an investor?

[iMark]

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?

I do not agree if BTC usage is taxed.
If they use BTC, but they don't have BTC in their wallet, do they have to pay taxes?
I think the government is enough to receive building taxes, vehicles.

That is the way of government to make their country rich, with taxes. but it can be very helpful for developing countries, at least regulations and taxes can accelerate the development of bitcoin too right? and you are still free to pay taxes or not, because I think regulation will not remove decentralization from the internal.

[KorakPawon]

I suppose that it is not a good news. since bitcoin is not legal in some countries, of course there's no regulation for it, and automatically tax is invalid. Whereas, most people avoid to pay tax, I guess. Unless, government legalized it and bitcoin are accepted as the currency, of course different thing will happen, probably. 

[saaux]

I do not have any info on hearing about that issue, that's how taxing bitcoin is a bit complicated. but if this is the way for a country to accept the crypto in their country there is nothing wrong with that talk.

[bezygly]

In order to get legal security and some guarantees from the state, you need to pay taxes. I think so.

[creeps]

This is a good solution only for the state, because in this way they will improve the economic situation in the country. For US residents who use bitcoin, this is only an extra cost.

For a developing country, collecting taxes is very crucial and its really important so I think if you live on that country its better to pay taxes which can help your country to grow economically. If there is already a law like this on your place, better to comply with it.

IMO, this is a good decision from U.S because of growing cryptousers on their place they can possibly collect more taxes and also this is a good for every cryptousers in U.S simply because they can enjoy cryptocurrency without thinking about banning cryptocurrency because U.S support this technology.

[nuraziaaziz]

Yes they have to pay for taxes if they spend or sold crypto.

[knightmairesaint]

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?

I think if bitcoin legalized in a country the government will apply taxes in every transaction we will make. Taxes is very important to the economy of a country. why? because it can be a fund to the government to used in building a hospitals, schools, education assistants and so on. Our taxes is distributed in may sectors of the government down to its area. Many people will rely in bitcoin and its good source to the government to collect it. And I think they will keep to control the crypto price after they legalized to provide a regulation for it to follow so that they can implement it well.

 As we know, Bitcoin is popular in the crypto market and it can be a advantage in the government because some people are engaging bitcoin that is why they will got interested to it.

[chichibano]

 Yes, people should pay taxes on bitcoin since if someone buys and sells a bitcoin token and it appreciates or depreciates in value between buying and selling, the gain is taxable and the loss should be afforded tax relief.

[Danilotot]

Investors will only do that when his country is obliged to give the tax the crypto. but now it's difficult because first of all not all countries are crying crypto. and there are bankers to block it.

[robertbint]

Bitcoin tax depends on the government of any country. Some countries are paying taxes on Bitcoin where as some are not. So it totally depends on your country.

[fisheater]

It's an easy way for IRS to handle this, like anything else, if you gained value when selling it, you have a capital gain like real property, stocks etc. So this is reasonable.

[anafiene]

Surely everyone will pay the bitcoin tax, maybe everyone has a different way to do this. Because it is impossible for bitcoin to be disbursed, there is certainly little to be the admin fee. Like a bank for other costs, bitcoin is well managed so the results will be more profitable.

[Irvinn]

We have to pay taxes according to the laws of our states. If you think the laws of the country on taxation are unfair, you can not pay them at your own risk. You have to make a decision anyway. However, it should be remembered that if we evade paying taxes on profits in cryptocurrency, the state can not only tighten the responsibility for such a violation, but also tighten the rules for cryptocurrency in the country.

[Bizard]

We have already arrived in Russia legislation on Bitcoin taxation, so it is not far off that most countries will impose taxes on digital assets.The state will not miss the moment to get extra money.