Should there be a tax on capital gains?

[TiceOwil]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

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[Vashti]

If the law said there is a need to tax all capital income then everyone are force to abide so, since this is a law.
But for now we don't have law reinforcing that we need to pay tax on crypto.. . So let's enjoy the moment..

[CuapCuap]

I do not think it is necessary, in my country is very much tax, almost all fields in taxes. I am not an anti-tax person, always paying taxes. but if for all things in taxes, this will incriminate the poor who want to grow rich, they will be difficult to move forward.

[joerogers8]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

[kujaroth]

There's always tax in services. Including when you exchange coins, buy and sell coins and other crypto services offered as far as I know of. But having tax on capital in done on business. Correct me if I am on the wrong.

[Dudeperfect]

I am with the opinion of Warren Buffett in this regard, rich people should pay more taxes in order to bring the sustainable growth and equality in the society. I know that many people won't agree with me with the statement but that's the medicine required for building a better society.

* Warren Buffett has a simple explanation for why rich Americans should pay higher taxes.

[player514]

I do not think it is necessary, in my country is very much tax, almost all fields in taxes. I am not an anti-tax person, always paying taxes. but if for all things in taxes, this will incriminate the poor who want to grow rich, they will be difficult to move forward.

This is the reason why (at least in my country) tax brackets exist. They allow the government to place people into groups and tax based on whether or not they can live off of what they're making, and then one step further, tax based on how well they're living.

Taxing Bitcoin in a manner similar to tax brackets, I think, would be foolish. Here's why:

1) Bitcoin is fairly unknown. The fewer people know about it, they fewer investors there are. As of March 2018, under 10% of US citizens were invested in cryptocurrencies. Compare that to the ~50% of Americans invested in the stock market, and there's a clear difference between crypto and stocks.

(https://www.cnbc.com/2018/03/16/why-just-8-percent-of-americans-are-invested-in-cryptocurrencies-.html)
(https://money.cnn.com/2017/08/08/investing/stock-ownership-dow-record-trump/index.html)

2) The people who do know about Bitcoin are likely in the mid/upper classes, meaning they would have to pay pretty hefty tax on their gains. Rather than that, they would probably be more interested in investing in a slower gain over time, aka the stock market.

Taxing based on bracket could potentially work out, but I think it'll steer a lot of the already small number of people investing/using crypto.

[Gaurav11kb]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom.  

If tax is a form of slavery of theft and people should not pay taxes then they shouldn't expect anything from Governments too. They shouldn't expect good education, good hospitals, good roads, hygiene and everyrhing else for which a Government is always blamed and cursed. People should not expect the law to provide them safety too because it is the tax payer who is paying for all those things.

[Hydrogen]

Capital gains taxes can exert a positive influence on markets via providing incentive for investors to HODL long term to avoid paying higher taxes associated with short term day trading. An example of this are cases where capital gains taxes of 20% might be paid if an asset is bought and sold in less than 12 months. With capital gains taxes of 10% being paid if an asset is held longer than 12 months. Variable capital gains taxes can encourage long term holds which decreases volatility and increases price stability.

In that capital gains taxes which are well structured can have positive effects on markets and currencies.

That said what happens to the money collected from capital gains? If all of it was spent towards giving large corporations unfair tax cuts and subsidizing the cost of the biggest players in the private sector, would that be an effective or fair utilization of tax revenues?

In theory good tax policy could help small business rather than providing benefits to the largest and wealthiest businesses. But in the real world the opposite is usually true which can reduce the effectiveness of taxation policy and defeat the purpose of legislating tax laws.

[audaciousbeing]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

There is nothing wrong in capital gains, the problem always arise when its time to pay and then you realize the value of the percentage applied on the capital gains is on the high side, people then look for ways to avoid the payment of this taxes. Capital gains should be allowed to stay but some certain exceptions should be introduced to it for example,

1. Someone selling his living home because he could no longer afford to live in the city should be exempted from paying Capital Gains Tax because doing that is making his economic situation worse off than he is currently in.

2. A business coming back from bankruptcy who then decide to sell its property that have been acquired years back to primarily pay debt should also be exempted from paying Capital Gains Tax as that would mean the money that should be used to offset the debt and get back on their feet would no longer be available.

However, for the rich who have choice properties all over, the Capital Gains Tax should not only be applied but high enough to make them pay more.

[btc78]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Everything that gives us profit must be taxed

Thats the rule of government that should be made,and i believe in cryptocurrency almost everything means profit so what would be the reason for not implementing the taxation process

[pedangrusak]

I do not think it is necessary, in my country is very much tax, almost all fields in taxes. I am not an anti-tax person, always paying taxes. but if for all things in taxes, this will incriminate the poor who want to grow rich, they will be difficult to move forward.

the tax for cryptocurrency is currently still not set because there is no specific rules that regulate it. but in the future I'm sure it will be the tax regulation for the crypto itself because it's already leading to investment and exchange

[yitzjoe]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Tax is one source of government funds to do development. Source of funds obtained from the tax will be used for the provision of public goods and services that are the needs of the community. And taxes legally bind its citizens to pay because it is in accordance with the law

[boyshx]

Basically everything that gives us gain should be taxed because same tax goes into the national development and in return we get great services from the government. Belive me in developed countries this is very important and works best. I’m not sure about developing countries where tax is eaten by government official for their own benefits but in developed one its good. There Senior citizen also get some extra bonus if they have paid the taxes and thus it’s beneficial. So yes, tax on capital gains? Why not!

[1Referee]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Correct.

No one in the world has the right to claim ANY percentage of your money by force, which is exactly what governments are doing. In reality it's exactly the same as when someone kidnaps you and asks for ransom in order to give you your freedom back. If you don't hand over your money to the government, they'll throw you in jail and freeze all your income streams and assets till you give them your money. People need to open their eyes for once and stop selling themselves as brave citizens.

Oh, and for the people moaning about governments losing tax income if we don't pay capital gains over our crypto currencies; what's the difference between people not trading and thus not being subject to tax, and people just not paying any tax over their crypto gains? The government loses nothing but has everything to gain from people who do think it's a great idea to pay tax.

Everything that gives us profit must be taxed

Lol.

[davis196]

Investors from the poor countries and middle class people in the rich countries should not pay capital gains tax.Only the big millionaires and billionaires should pay such tax.This would be a more fair and progressive approach.Most of the crypto investors are middle class and working class people,so they have to be tax free.Only the crypto whales should pay capital gains tax.

[ralle14]

If a country charges too much tax on the other ones (like income and VAT for example) then I don't think it's necessary to charge tax on capital gains. There are countries that doesn't have tax on X (one example is income) and they focus on other types of taxes like Y (VAT). I don't like taxes overall but we don't have a choice. In terms of Bitcoin it depends because not every country charges the same % of taxes but if all country are equally successful then I don't think it's necessary to charge tax on Bitcoin.

[nicster551]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Income? You can either lose or win in trading then why should they try to put tax on it? Are you going to happy with that? Are with us on this?

[usorin]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I am sure that Satoshi had in his mind something similar like taxless environment where everybody can trade without to be exposed to the central influence. So, it is a bad idea.

[viyumztf]

Yes, I also think that capital gains should be taxed. Maybe there will be relevant tax policies in the industry soon. I hope this will be an important part of improving the community. Only the tax on bitcoin is likely to be adopted by more people and industry.

[mostkey]

Any form of business that can earn a substantial profit is required to pay, following the terms of government and state, the tax is not used for negative things, can be used as the development of the country's needs, economic improvement, development including for the future, fair enough that we still set foot in a country with the convenience and security so it must be obliged to pay taxes to go further, in accordance with the benefits and what it has.

[Ridwan Fauzi]

Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

Capital gain is an income from the investment of a person, for instance, you buy a stock at $ 3000 for a few days you sell the stock at $ 3500, mean $ 500 is capital gain, do not know investor A is rich people or investor B is a poor person.

It will be complicated if the government divides/distinguishes someone's tax that must be issued. Because it could be the poor people will get a fortune in the investment and he is not required to pay taxes.

I have not found a country that imposes taxes on its folks, maybe if there is a country that does not require taxes on its folks then the people are the luckiest people living on this earth.

[burner2014]

Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

Capital gain is an income from the investment of a person, for instance, you buy a stock at $ 3000 for a few days you sell the stock at $ 3500, mean $ 500 is capital gain, do not know investor A is rich people or investor B is a poor person.

It will be complicated if the government divides/distinguishes someone's tax that must be issued. Because it could be the poor people will get a fortune in the investment and he is not required to pay taxes.

I have not found a country that imposes taxes on its folks, maybe if there is a country that does not require taxes on its folks then the people are the luckiest people living on this earth.

I think yes, there should be tax on capital gains, but should not be higher than 15% because it is a burden to people business tax should be the one who has a  higher tax and those who are millionaire and not those ordinary people who are just depending on small investment or ordinary people.

[aoluain]

Yes j also think there should be taxes paid on gains after all taxes pay for
services like emergeny, education and health along with the general upkeep
of a country like water and transport systems.

But as long as crypto is kept as crypto and not
liquidated into FIAT no tax is due.

[Cointoli]

Yes, I also think that capital gains should be taxed. Maybe there will be relevant tax policies in the industry soon. I hope this will be an important part of improving the community. Only the tax on bitcoin is likely to be adopted by more people and industry.

If the return on capital from the cryptocurrency market is taxed it will not receive investor support because they are accustomed to anonymity and are not managed by a third party in the transaction. cryptocurrency. But I think the application of the tax is also very good because it will help the cryptocurrency market to be transparent and recognized around the world.

[sniper23]

I think it should be taxed.

But, there should be a limit like you need $$ money to be taxed or need at least $$ to get taxed %10

[kolsernik]

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

[Netnox]

Capital gains tax must be abolished, because we have already paid income tax on that earning. And what if we end up with capital losses instead of capital gains? Will the government make any reimbursement in that case? Capital gains tax is like punishing someone for their success.

[Barbarian]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Some level of taxation is necessary to maintain a functioning society but the problem is that governments have abused that power and that is why people are reacting and doing what they can to pay as little as possible and I cannot blame them since taxes can be extremely high.

[TiceOwil]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

[Barbarian]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

[qwerty12]

Yes, I think it can be taxed. Because however, a capital gain is an advantage or profit. Many countries impose a tax on capital gains generated by individuals or companies, although tax relief/incentives may be possible for tax exemptions for capital gains; in relation to providing incentives for entrepreneurs or as compensation for inflation.

[mr.nby]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

There is a strange situation with taxes from cryptocurrency. Governments do not recognize them as currencies, there are no regulations, they issue warnings about investing in a crypto, they try to limit access to them in different ways. At the same time, they are demanding to pay taxes on profits from cryptocurrencies.

[valentine401]

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

In my own opinion, it was normal to pay taxes but the only problem are the corrupted govenrments who are stealing money from the people and that is the reason why the economy is dropping.

[Emigham7]

To my humble opinion, taxes should be abolished. It's evil to taxe people. Government agencies should find out other ways to raise money different from taxation. Be it capital gain or whatever, there should not be taxed.

[darkangel11]

So many socialists speaking here. Yes, all you guys who support taxing everyone, just so the rich are taxed more are socialists. The whole idea of taking from the rich and giving to the poor and trying to equalize the society is the same that pushed people to support the dictatorship of the proletariat. There are still countries where people like you are acting as enforcers. Maoists are a great example. I'm sure you'd find a common tongue with them, and it wouldn't be Chinese. 

[rancidgash]

I think it should be taxed.

But, there should be a limit like you need $$ money to be taxed or need at least $$ to get taxed %10

True, for me the limits that we have now in most of the countries are too big, if goverments will decide to make some law connected to crypto it should be make better than taxes connected with income nowadays.

[Lupus Solitarius]

Well, if they put a tax on capital gains, then they have to put a reimbursement on losses, otherwise it's a state scam ...

[Camster]

There should be no tax period.  I did not sighn up to be part of this system.  I signed no contract.  i was forced in since birth.  SO no I should not have to pay capital gains.  I wouldn't pay them either except if you do not the government send thugs to your house and throw you in a cell or worse kill you.  Great system!

Make sure you fill out those KYC's so they know where to come. 

[Alfiehob]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

Yeah you are right. We are citizens of our country. We love it and we can die for protection and safety of our motherlands but why these politicians took us so easy every time. They come to power and use it for their own personal benefits. Every money laundering case is filed against politicians and all such stigmas that are eating us against such heavy taxation and fill their bank accounts.

[Visteryy]

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

I think it is a good idea to collect taxes in order to serve the society. That represents the payment for what the market has brought to the environment. Need to be maintained for better remedies to ensure human health. It is also good if the tax is fulfilling its role.

[Assface16678]

If the law said there is a need to tax all capital income then everyone are force to abide so, since this is a law.
But for now we don't have law reinforcing that we need to pay tax on crypto.. . So let's enjoy the moment..

So true. If the law stated then we must abide. Taxes is define as a tool.in which the government can get something to find thre projects thay will benefit citizens. Therefore it is not bad if there will a tax. Because tax is for us individual. Tax is a huge help for us.

[pawanjain]

I don't think there is any harm in giving tax to the government as it helps us in way or the other. I support giving taxes but there should be fair rules like a minimum income from capital gains should be required to pay the tax. Why should we pay tax if we don't so much. Also, the % of amount to be taxed should be reasonable. In my opinion it can be up to 20% and anything more than this would be an unreasonable amount to be taxed.

[alp]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I also came into my head the idea that the tax should be on profit. That is, exchanges that trade currencies should deduct tax in favor of the States. I believe, it is not necessary to register them in tax havens. Ordinary citizens who bought 1 bitcoin and earned a little on the course, they do not need to take the tax. And here who trades-from them it is necessary.

[eaLiTy]

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

I think it is a good idea to collect taxes in order to serve the society. That represents the payment for what the market has brought to the environment. Need to be maintained for better remedies to ensure human health. It is also good if the tax is fulfilling its role.

Taking taxes and serving the society, it would be great if the governments around the world will adapt blockchain technology and make these transactions transparent so that the tax payers have some idea on what these amounts are being allocated, i live in a democratic country and i would like to have these transparent transactions and when it comes to capital gains, sure you must pay your taxes in that category even though there is no rules regarding that to avoid further trouble.

[andriarto]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I also came into my head the idea that the tax should be on profit. That is, exchanges that trade currencies should deduct tax in favor of the States. I believe, it is not necessary to register them in tax havens. Ordinary citizens who bought 1 bitcoin and earned a little on the course, they do not need to take the tax. And here who trades-from them it is necessary.

i think that by buying or selling bitcoin, taxes will be included, and I think that's the best thing, i personally don't mind having to pay taxes, because the state needs it for development of a nation

[Vinalians]

There should always a tax in any income that you can claim in any legal business or work that you are doing. Some people manage to hide  their real income for them to decrease the tax that they are paying. Paying tax is good in the economy because it can give us more service from the government.

[just_Alice]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Tax isn't a theft, it's necessary for the cycle of money and economics in general, how else would money come back to the central government budget? I agree that in some countries, especially developing ones, governments do steal a lot of money and that's why things are turning ugly out there, because money that was derived from taxes should be spent on governmental and social needs, e.g. supplementary benefits, country reconstruction, subsidies and national improvements in whole. If there are no taxes the country not only will stop developing, but will begin to fade. Let's take Austria, for example, this country has one of the biggest taxes - 55%, but people live in affluence there, have lots of opportunities and high salaries, clean and smooth roads, comfortable conditions in short, so taxes aren't hindrance if used properly.

[krishnaverma]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my opinion, there are already a lot of taxes on people. The problem is not having less taxes, it is regarding collection of the taxes. most of the big earners are able to evade taxes using various loopholes and that is a big problem in my opinion. We should work towards making everything more transparent. Even crypto can be used for this purpose as it brings transparency and easier access for past transactions.

[maarx]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my opinion, there are already a lot of taxes on people. The problem is not having less taxes, it is regarding collection of the taxes. most of the big earners are able to evade taxes using various loopholes and that is a big problem in my opinion. We should work towards making everything more transparent. Even crypto can be used for this purpose as it brings transparency and easier access for past transactions.

Agree with you. Though set rules are practiced people tend to skip few things via so many loopholes. But still yes there should be laws and they should be followed on taxing on capital gains. But should it be done amongst the countries who have not accepted bitcoin? I would not accept paying tax on my bitcoin or any other crypto currencies' capital gains to my country if it does not accept crypto currencies.

[anka33]

Ceгoдня пpиpocт, a зaвтpa "пpoигpaл"... Дyмaю, чтo нaлoгa быть нe дoлжнo (нa дaннoм этaпe), т.к. вce нe cтaбильнo....

[kenlyresuello08]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

so your thinking that you will earn money without paying any tax??

[gambitcoin53]

of course it will be taxed, just like any other investments, properties and wages. capital gains are considered wages or profit from any given investments, and is subject to taxation, i think any countries have laws on that and is already an international laws, there are laws too on taxed profit coming from other countries. so basically it is legal.

[Barbarian]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

Yeah you are right. We are citizens of our country. We love it and we can die for protection and safety of our motherlands but why these politicians took us so easy every time. They come to power and use it for their own personal benefits. Every money laundering case is filed against politicians and all such stigmas that are eating us against such heavy taxation and fill their bank accounts.

I agree, there are some that are completely against paying taxes and I understand why they think like that, but politicians are abusing the trust from the people, paying a flat 10% tax on your income will be fine by me since governments should not need more than that, but as I said paying 50%? No way.

[deppil]

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

I think it is a good idea to collect taxes in order to serve the society. That represents the payment for what the market has brought to the environment. Need to be maintained for better remedies to ensure human health. It is also good if the tax is fulfilling its role.

I'm not a problem with the tax that will be applied to bitcoin users when they make a profit from bitcoin. but in my opinion the problem is how to implement and how it works this on bitcoin users. considering anonymous bitcoin there is certainly no obligation whatsoever for them to pay tax

[tubig123]

I will not tolerate if there will be a tax on capital gains because tax  is like a bloody money can helped improved infrastructures in other words I agreed taxes implemented into a capital gains for economy progress.

[localcrypto]

No there should be no tax in capital gains the main reason is gains are uncertain but where as there is no chances of loss so govt should nt tax on capital gains

[aso118]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

There are actually 2 questions here - should people be taxed on capital gains and (if the answer to the first question is yes) what should be the rate of tax on capital gains. Most countries tax capital gains, but tax them at a lower rate than income. The reasons are two fold - one is that capital gains are made after investing income which has already been taxed. The second is to provide an incentive to people to invest, rather than spend their money.

[ufaiz50]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my country taxes for capital gains already exist but that includes income tax, in fact for investors I am also confused because of the calculation of how profit is made and for now there are still many gaps to avoid that tax. I agree with you to make tax regarding capital gains as long as it is not so burdensome for medium investment.

[el kaka22]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Income taxes and capital gains are different though. I mean yeah you can pay some sort of your salaries parts to government, I get that. However I do not understand why you need to pay huge capital gains on your investments as well. I understand there are people with billions of dollars who only make money on capital gains but there are also people who saved up like couple thousand dollars at most and you are now taxing that too on top of his income. I think you should put a limit on it.

Like maybe capital gains tax on people who have over $100k invested and no taxes for people who have less than $100k invested. That way you won't punish the little guy but still make a killing of the money you make on the wealthy. Too socialist?

[BeGoods]

Tax is a form of slavery and theft. So my answer is no to any sort of tax including a capital gain tax. Hopefully one day we stand up and say no more. Bitcoin is a way to free money and freedom.

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

Yeah you are right. We are citizens of our country. We love it and we can die for protection and safety of our motherlands but why these politicians took us so easy every time. They come to power and use it for their own personal benefits. Every money laundering case is filed against politicians and all such stigmas that are eating us against such heavy taxation and fill their bank accounts.

I agree, there are some that are completely against paying taxes and I understand why they think like that, but politicians are abusing the trust from the people, paying a flat 10% tax on your income will be fine by me since governments should not need more than that, but as I said paying 50%? No way.

Lol is a legal theft if the government asks for 50% tax on your income. it is a form of cruel power in its people. if the tax is as high as that of course no one will pay it. but in my own country there is no such high tax dude. the most common is around 10%. even so I am still very difficult to pay for it lol. but for the good of the country I paid it

[jeronimosuykens]

There should always a tax in any income that you can claim in any legal business or work that you are doing. Some people manage to hide  their real income for them to decrease the tax that they are paying. Paying tax is good in the economy because it can give us more service from the government.

I think part of it. Try asking if you make money online without depending on anyone. But you have a lot of money from that income. And do you have to pay taxes? And to whom? Who is the guarantor for you?
So I think the tax also needs to be reasonable for each individual and organization.

[Barbarian]

No there should be no tax in capital gains the main reason is gains are uncertain but where as there is no chances of loss so govt should nt tax on capital gains

It is not a matter of whether or not there is going to be a capital gains tax, we know there is going to be a capital gains tax in the future, the real question is if the government will be able to track the users of cryptocurrencies in order to charge them that tax but with coins like monero is going to be very difficult to get the money of the biggest whales.

[KoAuTagataPasifika]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

On the Federal level for short-term, it's whatever your tax bracket is, long-term it's 15%, then add State taxes and in some cases local taxes on top of that.  However, I'm against this current ruling by the IRS, taxing gains on crypto to crypto transactions.  They want it treated like an "asset" because it gives them the most income.  We have a convoluted tax system and then add the complexities of cypto trading on that.  

[tayogpanganiban]

In my opinion, all income gained should be taxed.Because it is based on the law enforced by the government.The tax that are being payed are also used by the government in infrastracture.

[0t3p0t]

Tax is a form of slavery and theft.  So my answer is no to any sort of tax including a capital gain tax.  Hopefully one day we stand up and say no more.  Bitcoin is a way to free money and freedom. 

Sad reality about the implementation of taxes but I think once cryptocurrency exchanges are regulated in a specific country we can't evade tax anymore but that is only applicable when we are having a cashout from these local exchanges. But if Bitcoin is widely accepted by merchants or businesses I think everything will change and I think it is possible for us to have financial freedom with the help of Bitcoin.

[code]

have you tried this way to pay tax? what is the practice? how it happens? I have not yet encountered, learning this teimumu

[Netnox]

IMO, capital gains is like double-taxation. You already pay your tax on your income and then invest your savings to the stock market or real estate. And when you get a profit out of it, you again end up paying tax.

[pixie85]

IMO, capital gains is like double-taxation. You already pay your tax on your income and then invest your savings to the stock market or real estate. And when you get a profit out of it, you again end up paying tax.

I agree the tax should be a fixed one based on the amount. An easy to understand single tax preferably a property tax not an income tax because people can have no taxable income. You can collect cans and bottles or get paid in cash. Drug dealers, bums, gun traders and smugglers don't pay taxes. You want to spend the money on something like a car or a house, you can pay taxes.
I think that both income tax and capital gains tax should disappear.

[Oceat]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Taxes allows people to circulate their fiat currency while in digital world it's completely different while Bitcoin is not controlled by the government. We can easily trade crypto to any fiat currency. Should the government starts to taking some taxes to any traded crypto so that it will circulate too? Or they should start taking the taxes from crypto and not to any fiat that's being converted already?

Government are fond of making new regulations to control something that they hasn't control over yet. And yes, they do like people to suffer from mortgage and other expenses of loans.

[signaturecoin]

IMO, capital gains is like double-taxation. You already pay your tax on your income and then invest your savings to the stock market or real estate. And when you get a profit out of it, you again end up paying tax.

I think this is unreasonable and investors are suffering from this policy. It is the duty of every citizen, but justice is required instead of over-pressing the investor as this rule.

[suzanne5223]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Taxes allows people to circulate their fiat currency while in digital world it's completely different while Bitcoin is not controlled by the government. We can easily trade crypto to any fiat currency. Should the government starts to taking some taxes to any traded crypto so that it will circulate too? Or they should start taking the taxes from crypto and not to any fiat that's being converted already?

Government are fond of making new regulations to control something that they hasn't control over yet. And yes, they do like people to suffer from mortgage and other expenses of loans.

Yes, the government are know for making certain rules and regulations for their own personal reason which why most of the people in office usually deny the ability of bitcoin and later make good comments about bitcoin after they leave office.
Nevertheless, government collecting tax on every crypto currency traded or buy doesn't make sense cause the exchanges site are the one that ought to pay the government tax per every transaction make from crypto into fiat currency.

[n0ne]

It is impossible to levy tax over the capital gains, very few countries have come with perfect plans for taxation. It's a big process to regulate and find a methodology to tax people according to the trade related transactions. Hope to see more and more initiation from governments operating all around as the spreading of cryptocurrency keeps increasing.

[BTC-BTC-BTC]

There is no way around not paying capital gains. Everyone should pay their part in their tax. If you are not happy with your tax rate move to another country.

[becak mesin]

Yeah I think it should be. However, the tax only for them who have much and extra income, because it seems unfair in the rich are free from taxes income. Making regulation or policy about taxation must be debatable, there are many people will argue and moan to the government. However, it should be created and mad to build social justice. .

[magneto]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Capital gains tax could be potentially helpful to boost revenue for the government. However, I don't think that it's that good when it is taxed at extremely high rates essentially not allowing profits to be made from investors.

And the thing is, big corporations are just going to move their investments offshore or use various strategies to minimise their tax paid, while the ones that are actually paying this are the people at the bottom and middle of the investment categories.

There are also some pretty weird rules in terms of the length of holding and the tax paid, at least in my country, and with all the record keeping that you have to do it's just too much of a hassle overall. I'm not against capital gains tax, but excessive amounts of it with inconvenient reporting measures is definitely not the way to go.

[Barbarian]

IMO, capital gains is like double-taxation. You already pay your tax on your income and then invest your savings to the stock market or real estate. And when you get a profit out of it, you again end up paying tax.

That is what bothers me the most about taxes, if there was a single flat tax that everyone needed to pay and the tax was low enough I will pay it, but instead governments charge taxes over taxes which means that you end up paying a lot more in taxes than what you think and that is completely unfair.

[Zarfund]

IMO, capital gains is like double-taxation. You already pay your tax on your income and then invest your savings to the stock market or real estate. And when you get a profit out of it, you again end up paying tax.

That is what bothers me the most about taxes, if there was a single flat tax that everyone needed to pay and the tax was low enough I will pay it, but instead governments charge taxes over taxes which means that you end up paying a lot more in taxes than what you think and that is completely unfair.

I think we should pay tax on cryto currency also.

[tubig123]

We had no choice those earning with capital gains but for me I am agree with this which is implemented to the rules because tax is like a bloody man can help in the country for progressive like infrastracture and benefits for all the members in this programs.

[rosemary4u]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

It is good to pay tax, but we are not seeing any support from the government with regards to the world of cryptocurrencies. Hence there is no need to worry about how to pay taxes on our digital assets, I mean it doesn't make any sense to pay any tax to that respect.

[senin]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Capital gains tax is a normal and allowable tax if such capital is determined in the usual hard currency. However, cryptocurrency has its own characteristics. It has a very high volatility. If we have to pay tax because the cryptocurrency price has gone up, then we should have some tax breaks when its price falls. Otherwise, there is no proportionality in revenues from cryptocurrency.

[airdropcoin]

Taxation of capital gains is the most correct way. Banks support capitalists in order to get returns from taxes and interest, which is more conducive to even distribution. But all this is a joke of capitalism, and the rich will not become poor because of taxes. The poor do not tax but are poorer. So now the cryptocurrency is still free, it has become a paradise for capitalists and the poor.

[Ozero]

No, I think that the capital gains tax cannot be applied to cryptocurrency, because it has a very high price volatility. It turns out that capital gains can be calculated at the end of the year, when the cryptocurrency will have a high price value. We will pay the tax, based on the high existing prices for cryptocurrency, and after that it can drop in price over the course of the year. Nobody will compensate us for the damage. By the end of the year, the situation may again happen.
It seems to me that income tax is best for cryptocurrency. Moreover, it would be nice if banks or exchangers calculated this tax automatically when selling cryptocurrency without identifying the data of the seller of cryptocurrency. This will be less of a problem for everyone.

[xiaoY]

The taxation of capital gains is almost impossible to achieve. Rich people are usually professional financial planners. They will not let the money be given to the government. High asset taxes are very difficult to implement because capitalists may flee to other countries. This does not benefit the poor unless the banknotes are void.

[wuvdoll]

Maybe a bit different than other taxes but it can't be non-taxable thing. No matter what the way of gains is it is still gains and if you made money from capital gains that is still profit. Considering most people who make money thanks to capital gains are the rich folk it would be even wiser to make that tax a lot higher than other stuff. There is tax on income which is what people live on and if you are taxing peoples income than you sure as hell should be taxing the capital gains which people with money invest into stuff and make money from.

Without it there would be more rich people and there would be more investments and that sounds good but it would hurt smaller income people over higher level of income people. Rich can afford to pay 5% more taxes but when you take away %5 from poor that turns into a vital missing amount for them.

[patarfweefwee]

My take is that i should be taxed if and only if i liquify my shares. It wouldn't make sense if everytime my portfolio increases that i would have to pay taxes, not unless the government will bail ne out if i turnnout that i lost money in my portfolio. Capital gains should only apply when i convert it to cash.

[Btcmarmipp2]

For me it is right to be taxed in capital gain as long as the government use the tax that benefited by the people. But if the government will corrupt the peoples money then I will stand and fight our right not to be tax in our capital.

[Argoo]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I am against the introduction of a capital gains tax for cryptocurrency. It is necessary to take into account the specifics of cryptocurrency, namely its greater price volatility. We will constantly pay tax, when the cryptocurrency will grow in value, and if it drops after that, no one will return the paid money to us. Cryptocurrency is sufficient for income tax and it is better to charge it automatically when selling and buying cryptocurrency.

[darewaller]

The side that keeps saying there should be either flat or very minimum tax on capital gains basically argues that if a person is willing to invest money into the economy in order to improve the companies should be allowed to not pay as much tax as others. If I am making money by working than I should be taxed an income tax same as a company getting income tax as well but when I invest I should be allowed to pay less taxes so I can reinvest my earnings back to economy to keep it alive.

Moreover, one important misinformation is that people who buy stocks usually end up buying from other people and not from companies, IPO's are a different beast but when you are buying an apple stock for example you are not buying it from apple and helping them out, you are buying from another person. So, I think capital gains should be taxed according to the level of investment and higher the profits higher the tax should be.

[pedangrusak]

crypto tax gives a lot of contribution to the state and with taxation means crypto is existent and is considered as one of the investment tools or another that is subject to certain taxes, and this is the progress of crypto in each country even though this continues to be a debate among humans

[Adegbem]

Well I will say yes, because the absence of tax on capital gains tax can distort investment decisions and also CGT can be deferred pending the time the asset are being sold, meaning tax on capital gains are being paid with ease and at a convenient time of the taxpayers, but at the other hand I will say No to tax on capital gains
Why because,  it can actually reduce the overall profit realized from the sale of the asset
In summary of it, the truth is if the government are actually allocating tax collection to useful area in the economy and it develops the economy, believe me then tax on capital gains won't be a problem or a burden on taxpayers

[Burogh]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

[kiraaa]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I am sure that Satoshi had in his mind something similar like taxless environment where everybody can trade without to be exposed to the central influence. So, it is a bad idea.

I would agree there, of course, hard to say what Satoshi had in mind but definitely make sense!

[nur rochid]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

every change of government, we will see a lot of changes. but I agree, if the government collects taxes from the profits we get. so that it doesn't feel too burdensome. but on the other hand the government also wants to take advantage of this activity

[mriansa]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

[indrakusumaindra]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

[playboy654]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

paying taxes for anything will be important so capital gains are always useful for us so the economy will be developing using this so taxes may. cause economic changes more stronger

[wahyu wida]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

paying taxes for anything will be important so capital gains are always useful for us so the economy will be developing using this so taxes may. cause economic changes more stronger

I think many developed countries are building their countries using taxes, and taxes are one of their biggest income. it is not wrong if the tax object is always supervised by the government to achieve the planned target

[adzino]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

Do you even know what capital gains tax is? The fee those exchanges take are for  developing their exchange, their profit and paying their "own" tax (not yours!) if applicable. You will still need to file your own tax if you hold crypto currencies and make profit from it. The rules are bit confusing, but as far as i know, you will have to pay tax on your capital gains, at least where I am living.

[mirakal]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

Do you even know what capital gains tax is? The fee those exchanges take are for  developing their exchange, their profit and paying their "own" tax (not yours!) if applicable. You will still need to file your own tax if you hold crypto currencies and make profit from it. The rules are bit confusing, but as far as i know, you will have to pay tax on your capital gains, at least where I am living.

It's a little complicated if you do not study these terminology, the simple term that can easily be understood is that whenever we make income, we are required to report it and pay a corresponding tax.

In my country I don't need to pay for this since there is no law yet that tackles about this matter, but when I opened a new bank account, I was ask about my source of income, and since I don't have a regular job, I just said it's coming from trading because
I am really trading but focuses on long term trade, so if there's gonna be a specific law about it, I cannot deny anymore because of the information I have provided, but until that law has not pass yet, I should enjoy my profit in crypto with tax free.

[matteoricci]

it's fine if there is taxation for  as long as it goes where it should be.. some countries are reviewing their tax laws because of some cases of taxation.. that's where it becomes bad.

[erickbarkley29]

unfortunately, not all tax regulations were written properly. taxes are collected for government services. but there should be a fair computation on which social class should be paying more.

[jabrix]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

[wahyu wida]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

as if the government is providing land to invest in crypto with its legalization. and the government applies taxes to get compensation. but this becomes no problem when security guarantees are given by the government

[whiteblue]

of course that does not have to happen, when you get the benefits of cryptocurrency you should not need to pay taxes because the profits from pure cryptocurrency you get it without any interference from other parties.

[Semosuchi Tesongrato]

Well, if you put a tax on gains, you should have a tax-off for losses....

[Deeyoh]

Well, if you put a tax on gains, you should have a tax-off for losses....

There is a tax-off for losses but at present in the US.   It's about 3500 dollars, which is a joke.  No limit on how much you can pay but only how much you receive off your burden. 

[romero121]

Governments were much focused on the taxation process. One of major reason to oppose cryptocurrency is that they cannot tax the users as everything can be kept anonymous. In few countries cryptocurrency is listed under the commodity segment considering it equal to gold. But, they were unable to collect tax according to the transactions done. So, even if taxes were levied it won't be that effective.

[Ailmand]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Well, that's one of the reasons why people choose to invest in crypto to get away from taxes. However, I heard that in some countries they are being taxed from their income from cryptocurrency. It is not yet fully implemented world-wide, but I guess as crypto gets adapted by the mass, the government will start taxing it too.

[Julunguul]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

this is the real thing that disrupts the economy and makes people move from cash to crypto, whereas currently crypto, which is still in the development stage, has not yet been fully implemented and the various problems that are still evident are certainly not suitable for this

[awik p]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Well, that's one of the reasons why people choose to invest in crypto to get away from taxes. However, I heard that in some countries they are being taxed from their income from cryptocurrency. It is not yet fully implemented world-wide, but I guess as crypto gets adapted by the mass, the government will start taxing it too.

in my country crypto has not been legalized, but when we will exchange it into fiat currency, there will be tax to be paid. this is logical because the local exchange that provides is official, and certainly gets a permit from the government, so the turnover he gets is taxed. and this I realized only after learning it

[miningguru]

As of now, i don't any aspect of paying taxes on the capital gains but it will come to us only when the government start legalising the cryptocurrency in our country. Instead of showing the holding it is better to pay the taxes to the government on the basis of the transaction we are doing through our bank accounts. Otherwise, once they find means they will surely take the severe actions.

[onrise]

unfortunately, not all tax regulations were written properly. taxes are collected for government services. but there should be a fair computation on which social class should be paying more.

Our country is clear about it that taxes on capital gains has to be paid and any profits earned is attracted to pay the tax accordingly.  Government require money for the economic growth, development , infrastructure etc and thus they do not want to miss out any such opportunity to levy the taxes on any such capital gain earned.

[BLAST2MARS]

Many governments around the world has decided to put taxes on capital gains. No matter what the people who want the opposite to happen, the money that the governments is so huge that they cannot just remove it.

[sirohige]

when you can benefit from the trade you do then you don't have to pay taxes because if you say you have to pay taxes, then where will the tax money be paid? bitcoin does not collect taxes, bitcoin is a freedom of digital money.

[PlusOne88]

Taxes whatever it is and where it is imposed upon is so important for the government to stand on its feet and as necessary as the basic needs of man for survival. The taxes are a good source of revenue for the country and should it be gone or cut it will drastically affect the government's service towards its constituents. I also agree though that balance should be made between the poor and the rich. Taxes should be equally weighed depending upon the capacity of the person to pay. There should always be tax exemptions whenever necessary for the poor people to enjoy as privilege.

[ildario_n]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Should. But there should be control, because if there is no control, there will be a transition to offshore zones.

[Escf4]

when you can benefit from the trade you do then you don't have to pay taxes because if you say you have to pay taxes, then where will the tax money be paid? bitcoin does not collect taxes, bitcoin is a freedom of digital money.

That is true , I agree with that , for now that the government is not yet recognizing the adoption and acceptance in every state , so it is not the time to pay taxes for the capital gain of cryptos , but when time comes cryptocurrency will be legal in transactions in every country and government then it maybe the time to pay some taxes to it .

[BeGoods]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

But that does not mean they have to give taxes on everything, especially in crypto which is still in the development stage, the tax will only make the crypto enthusiasts decrease. if they want tax from crypto. wait until crypto is in a good position in that country, and crypto tax can be a good income for the government

[Yamifoud]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

But that does not mean they have to give taxes on everything, especially in crypto which is still in the development stage, the tax will only make the crypto enthusiasts decrease. if they want tax from crypto. wait until crypto is in a good position in that country, and crypto tax can be a good income for the government

Tax collection have been already started in some country, it is just they do for fiat holders. Not exactly we felt it cause not as vulgar just like it happen for big companies but it have a possibilities that it will strictly implement soon once it finally recognized as legal currency all over the country. For now, it is under provision and I know the government have unto look for it.

[boltz]

First of all depends on the each country laws. Second, taxes were always present in a form or another ( land , animals and now money ) but with bitcoin this taxes can change in the next years because not every coutry made bitcoin taxable when it comes of capital gains around cryptos so I will agree with the others and say that paying taxes is a modern slavery.

[wendiar19]

of course it doesn't have to be needed because with the profits you get from trading and various other types of trading you don't have to pay taxes because the profits you get are yours,

[mich]

Yes and even though I hate paying taxes it is the correct thing to do from capital gains.
Crypto is an asset so if you make profit on it, the gov is entitled to their share of your profit.
If you dont have very much income on the other hand, then I dont think you should have to pay if its your only source of income.

[2chase]

I believe that for people who have billions of dollars it will not be difficult to find new ways to launder their income, and to minimize taxes if they don’t want to pay the amount of taxes that they have to pay. The problem of taxes is relevant only for the ordinary citizen - for rich people, this problem does not exist.

[crzy]

of course it doesn't have to be needed because with the profits you get from trading and various other types of trading you don't have to pay taxes because the profits you get are yours,

You work hard for that money and yet the governmet is still asking for you to pay for the taxes even if you’re dead already. This is really not acceptable because you’ve already paid your income tax, this is double taxation and the harassment from the government, I hope this law will be stopped in the future with a help of cryptocurrency.

[primeluck]

They should be taxed at the same rate as ordinary income.Capital gains are the profits from the sales 0f an asset,shares of stock.a piece of land are considered taxable income.

[ethereumhunter]

So far, every country applied the tax for their citizen especially for people who have jobs that receive an income every month. As far as I know, taxation is used by all country to grow the economy and for the people too although sometimes the distribution of that money is not on the right target. I am sure that rich people pay a bigger tax than the other people because the government will watch every income they earn and they will accept the rule by paying the tax.

[romero121]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

But that does not mean they have to give taxes on everything, especially in crypto which is still in the development stage, the tax will only make the crypto enthusiasts decrease. if they want tax from crypto. wait until crypto is in a good position in that country, and crypto tax can be a good income for the government

Tax collection have been already started in some country, it is just they do for fiat holders. Not exactly we felt it cause not as vulgar just like it happen for big companies but it have a possibilities that it will strictly implement soon once it finally recognized as legal currency all over the country. For now, it is under provision and I know the government have unto look for it.

Yes, already tax on cryptocurrencies were in usage, but that weren't that effective. Particularly large scale firms working with cryptocurrency were under surveillance and they were marked for tax. The same isn't there with the common people who were just small volume transaction makers. Also it is truly hard to keep track of each and everyone's transaction data.

[Argoo]

I do not think that it is necessary to impose a capital gains tax in cryptocurrency. Cryptocurrency has a very high price volatility. It can rise sharply in price and also fall sharply. For one reporting period, it can rise, for another fall. There will be a need to return the tax paid. The tax is taken mainly when cashing cryptocurrency in fiat. Therefore, it makes no sense to introduce a tax on profits from which the tax has already been paid.

[millgates]

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I think it should be taxed, if the tax rate is high then it will be very frustating. We have responsibility toward our country but sometimes government too much extorting us. When you make profit in bitcoin then no other know that your capital is grow except you. And I think you don't need to declare your profit until you convert it into fiat money. Country should help the citizens to live in prosperity, and not to push the citizens to pay high rate tax which slow down the process to live in prosperity.

[Janation]

of course it doesn't have to be needed because with the profits you get from trading and various other types of trading you don't have to pay taxes because the profits you get are yours,

Some countries might accept but some don't.

There are some countries that tax people out of their earned profit from trading. You can say that it is not needed but in reality, it is mandatory to pay your tax, if you did not, you will go to jail. Some people make ways to avoid paying huge taxes, in our country that is a problem though as far as I know, they already pay it by the time that it became news.

[jademaxsuy]

Yes this is what a tax payers would like to have a lesser tax fee. But, I do not think government will going to change this because.there is a huge money flowing in this matter. Imagine that every transactions he capital gain tax will be 7.5% of the money being transacted.

Taxes are the blood of the government expenditures and because we are talking huge money then this is why politician are.buying.votes just.to win during election and will.manage huge money for their own interest.

[Sithara007]

Capital gains tax is a stupid idea and it is equivalent to double taxation. The government is extracting tax on the income that has already undergone taxation. Also, if capital gains are taxable, why the government is not reimbursing capital losses? It should go both ways, right? Here the investor is taking the risk and in case he gains from it, he has to pay the taxes as well. On the other hand, if he losses his money, then the government says that it's his fault and he should bear the losses. It's very unfair.

[Barbut]

Capital gains tax is a stupid idea and it is equivalent to double taxation. The government is extracting tax on the income that has already undergone taxation. Also, if capital gains are taxable, why the government is not reimbursing capital losses? It should go both ways, right? Here the investor is taking the risk and in case he gains from it, he has to pay the taxes as well. On the other hand, if he losses his money, then the government says that it's his fault and he should bear the losses. It's very unfair.

Great comment, its same what I thought. I read and I cant believe how right you are!
"if capital gains are taxable, why the government is not reimbursing capital losses?"
Simple as that, when we risk we risk our own money, if we lose nothing happened, if we make profit we share it with government, what a stupidity. You wrote such logical comment about capital gains, and this is why most of the people around the world will not report their crypto assets, people will try to avoid paying taxes on crypto, at least smart ones I presume. I live in the third world country, in my opinion, here in Serbia we dont have any laws about crypto yet, what suits me for now, but when they make see they are preparing some set of laws for crypto I`m going off the grid.

[Adriano2010]

Well a tax can should be only if make profit over the year, if someone buy bitcoin with 20000$ and after decide to sell when the price drop and get 5000$ only then shouldn't be any tax because is not made any profit.

[Pattart]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

Tax is one of the state revenues used to run the wheels of government and development. The government is trying to impose tax on crypto in a way that does not impose the transaction from the crypto owner and provides security for investment and crypto trading.

But that does not mean they have to give taxes on everything, especially in crypto which is still in the development stage, the tax will only make the crypto enthusiasts decrease. if they want tax from crypto. wait until crypto is in a good position in that country, and crypto tax can be a good income for the government

Tax collection have been already started in some country, it is just they do for fiat holders. Not exactly we felt it cause not as vulgar just like it happen for big companies but it have a possibilities that it will strictly implement soon once it finally recognized as legal currency all over the country. For now, it is under provision and I know the government have unto look for it.

Yeah, for now taxes are only applied to fiat holders or anything that can be audited by the government. in some countries I heard about crypto taxes, but I myself don't know how the payment mechanism is, even though crypto is decentralized and anonymous

[Sithara007]

Well a tax can should be only if make profit over the year, if someone buy bitcoin with 20000$ and after decide to sell when the price drop and get 5000$ only then shouldn't be any tax because is not made any profit.

Have you never paid any sort of taxes in your life?

In case someone incurs capital losses from the sale of any particular asset, then he is not required to pay any taxes. Only in case he profits from the sale of such assets, he needs to pay the capital gains tax (depending on the duration of the holdings and the nature of the assets, it can be classified as ordinary income or capital gains).

[CoinChili]

What a complicated suggestion. I am against capital gains taxation. I understand if the government will tax our profits and transactions but not with our capital. It is not necessarry to decreased the original amount of our capital by adding tax into it.

[JeffBrad12]

Well a tax can should be only if make profit over the year, if someone buy bitcoin with 20000$ and after decide to sell when the price drop and get 5000$ only then shouldn't be any tax because is not made any profit.

Have you never paid any sort of taxes in your life?

In case someone incurs capital losses from the sale of any particular asset, then he is not required to pay any taxes. Only in case he profits from the sale of such assets, he needs to pay the capital gains tax (depending on the duration of the holdings and the nature of the assets, it can be classified as ordinary income or capital gains).

It will be much better to give him a direct link to the crypto tax guidance issued by IRS.
But many countries have different regulation and if we are non US investors or traders can comply with the regulation that applied in our country.
https://www.coinbase.com/bitcoin-taxes#filetaxes
That contains all of the guidance to the crypto regulation tax.
I just think what have you said look similar to what he was saying about the taxation should not be applied to the someone that getting lost.

[viananda2525]

What a complicated suggestion. I am against capital gains taxation. I understand if the government will tax our profits and transactions but not with our capital. It is not necessarry to decreased the original amount of our capital by adding tax into it.
[/quotei think it necessarry for us.our government need some money and they could took it from cryptocurrency market.if they have money i am sure it will go back to as in infrastructure that someday we will need.

[coolcoinz]

Yes and even though I hate paying taxes it is the correct thing to do from capital gains.
Crypto is an asset so if you make profit on it, the gov is entitled to their share of your profit.
If you dont have very much income on the other hand, then I dont think you should have to pay if its your only source of income.

While I understand your point, I don't agree with it in full. There's more to it than just being entitled to gains. What about unrealized gains? Should they be entitled to them the way US government thinks it is? Here's an example. You bought bitcoins and forgot about them, because they were worth so little that you just didn't care.
5 years later you find out they are worth 100 times more, but you didn't take profits and you didn't report your gains. What should you do? Take profits now because you have to pay your taxes? Sell everything because the government wants their share and it wants it in fiat money? The government rarely looks at you with compassion. It doesn't care if it's your only source of income. It's income and income is taxable.