Bitcoin tax value

[Masterkai]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

[Harlot]

It is taxable even at the start of its creation and there is no question about it, I don't know why a lot of newbies still think that earning something the crypto market is somehow tax exempted, maybe the thought that a lot of criminals have laundered billions with it but it still doesn't make it tax exempted. In most of the countries gains earned from trading cryptocurrencies is taxed under capital gains, and most countries the problem they are facing is identifying what kind of asset are cryptocurrencies which will determine what type of tax they will be under with.

[ninis45]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

what I expect is an income tax from each of our transactions with a percentage of maybe not far from 0.10%, it's just that we ask here how to manage and implement it

[figmentofmyass]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

it depends where you live, or where you're a citizen.

in my tax jurisdiction, bitcoin trading has always been taxable. capital gains on BTC are taxable like capital gains on anything else. for me (USA), short term capital gains (trading income) are taxed at the same rate as ordinary income from a job. that means 10-40% depending on which tax bracket you fall into.

[cyrax00777]

It is, was and will be taxable all the time. The question is, what values of taxes can we meet? Of course, not the small ones. And, as long as time will pass, the taxes will rise, because of gaining popularity.

[Lucius]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

In my opinion all over 20% is too much, but unfortunately even if it is a higher percentage you will need to pay tax in case when convert crypto in fiat in some countries. For example in EU taxes on cryptocurrency are very different from country to country, in Denmark people do not need to pay anything and in Germany you can avoid to pay tax if you buy crypto and sell after 1+ year of holding. Slovenia also have 0% tax on crypto capital gains, and in Croatia there are exchange offices where you can just enter and sell up to 2000 Euro of coins per transaction without any ID.

[hacekd]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

taxation about bitcoin is still in a situation of discussion among some circles, some are indeed supportive and some are indeed not supportive, they will also do taxation for countries that are already regulating bitcoin. If for the appropriate value, the tax cost in bitcoin transactions, both investment and trade, is quite difficult, but of course if the nominal is the least expected.

[audaciousbeing]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

When it comes to the fixing of the right tax rates, except in the process of law making that makes room for public opinion, that is when our thoughts really matter but for every tax laws, it is expected that the sponsors of those laws and the law makers that will decide on it, down to the head of government that will assent to your bill before making it as laws, will have to put into consideration of of the tenets of a good tax system and that is "convenience" by putting themselves in the position of the tax payer if he would be willing to pay at the rate they are fixing and not just the projected revenue based on the percentage they have set.

For me, I think the rate should be between 10% and 15% but with conditions in that all cost incidental to the earning such revenue should be allowed to be deducted before levying such rate. For example, it will be unfair for me to be charged on a marginal say $100 (difference between the amount I bought and sold) without allowing me deduct the transaction fees for miners by transferring from my wallet to the exchange sites, the one the exchange sites deducted for trading and the withdrawal fees I paid for getting it back to my wallet.

[Gozie51]

I don't know why a lot of newbies still think that earning something the crypto market is somehow tax exempted

It is either of these two factors.
One is depending on the location where they are and how tax issues are treated.
The second is how can it be possible to tax where bitcoin is anonymous.

This second curiosity is because of the means of getting those who are affiliated to bitcoin investment. Off course, with the anonymity of bitcoin transactions, a novice would always wonder how the government can track the investors down.

[supermine]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

No one want to have that number in big,so I will be happy if the value of the tax in single digit but it depends on your country most of the countries can tax you in between 10%-20% so you need to pay what they were asking for other wise you need to face legal actions but now they have serious problem that tracing of income in crypto currencies by using this many people can evade taxes.

[Don Pedro Dinero]

In the future, it will depend on how broke the country you live in will be, and how socialist will be as well. In theory this could be somewhat avoided paying directly with bitcoin in shops but if you order online, but in some countries the government has required companies accepting payments with bitcoin to handle the user’s data.

[mansilkroad]

It's hard to predict wich tax from these three will be the one, but the lower tax the better for the economy and for the people trading and making life from trading.

[St4yInTh3D4rk]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

To be honest I don't want to pay any taxes but it is indeed for any government and also we need to obey then what rules they are implementing anything around 15% is much fair and also people will not do any frauds for this amount so the governments as well the citizen can be benefited by right amount of tax value.

[1Referee]

Off course, with the anonymity of bitcoin transactions, a novice would always wonder how the government can track the investors down.

There is no such a thing as anonymity with Bitcoin, especially not when it comes to newbies having bought their first coins through centralized services. Even if Bitcoin transactions were entirely invisible, it doesn't change anything when it comes to your legal obligation to honestly declare your gains and holdings.

You should know how many people trade at stock/cfd brokers and not pay one single penny in tax. There is no such a thing as anonymity over there, and yet the government depends on people's honesty when it comes to gain declarations.

I'm not at all a fan of paying tax, but when it comes to using centralized services, it's just better to declare everything since you don't want any problems with the government at a later stage. If they bust you, you will still end up paying everything, but then with a hefty fine on top of it and that will definitely hurt. It sucks, but what else can you do? The only alternative is not using centralized services.

but in some countries the government has required companies accepting payments with bitcoin to handle the user’s data.

Aren't all shops automatically (ie, by default) saving all your transaction history for a couple of years at minimum?

[aoluain]

In my country it is already taxable as capital gains tax and at a whopping
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.

So what should we do? Keep crypto as crypto because taxes are inevitable.

[Dreamchaser21]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

Yeah, soon it will become taxable in every country and I think 10% is fine for this one. In my place investing in stock market is not taxable, and hopefully this market can be like that in my place. Though we already paying taxes through the exchanges we use so we literally have no excuse not to pay taxes.

[Thirdspace]

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.

— Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789

what TAX are you expecting? 19% ? 20%? 10%?

since most of profit comes from trading, then it's either tax on trade (sell) transaction or capital gain
we can expect the same treatment like stock, the tax imposed is 0.1% on selling transaction amount
if it is treated as capital gain, add it to your total yearly income and apply the tax according to your tax bracket rate
now it depends on your country's regulations how they tax you, and the rate may varies
either way doesn't matter to me  

[Lucius]

In my country it is already taxable as capital gains tax and at a whopping
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.

So what should we do? Keep crypto as crypto because taxes are inevitable.

If you need fiat you always have some other options then to pay tax, and this is in case you sell crypto and withdraw fiat to bank account. For instance if you have option to buy stuff directly for BTC in your country you will pay VAT when do that, but that tax is probably lower then regular tax - then you can just sell that thing for fiat. Also if you find someone for personal direct transaction you can get fiat for your coins, no trace&tax. There is also option to buy gold/silver for BTC, in some countries there is no taxation to buy and sell gold.

As you can see there are ways to not pay tax on crypto and to get fiat on legal base, but also you can just hold and do not take care of taxes

[Danilotot]

Bitcoin can hardly be taxed. because of the reason that bitcoin is very complex. bitcoin is a blockchain. so it's a secret that happens, if it means that it is acceptable to the country where it is taxed here.

[Oceat]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

Most of the country's regulations are considering Bitcoin as a legal property of who has owned it, so it may differ to every country's taxation percentage. So, you may have to ask to your tax agent of what percentage are you going to pay for every Bitcoin you own and how much the value of it but this is still under wide debate in other countries.

[Girlsbit]

Taxes are inevitable and everyone understands this.

[Kingofbitcoin12345]

In the first place who really wants to pay taxes are mostly nationalistic at a much higher level.. I won't be considered one presumably because I'm not paying any as of now as my country//government isn't implementing any regulatory actions on cryptocurrency incomes..

what TAX are you expecting? 19% ? 20%? 10%?

The higher the value of tax,, maybe the higher the needs of one country to run it sufficiently and economically..

So it depends..

[Masterkai]

We can all agree that some countries dodge that taxes, how do they manage to do it?

[magneto]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

First of all, you're definitely right about the inevitability of bitcoin taxing as countries continue to regulate the crypto sphere more and more.

I think it would be very unlikely however for a country to tax bitcoin with a uniform rate, which is why I think that anticipating taxation levels solely based on a percentage is most likely a futile thing to do.

Most countries are already taxing bitcoin profits at the same level that they would tax personal income and/or capital gains tax, which varies depending on the country that you're in. If your country is a historically low taxing country/tax haven of sorts, then expect it to be much less than countries like Australia/NZ/Canada, which has taxes of up to 40-50% depending on your income level. So it all varies and there's no single answer.

[Aikidoka]

It really depends. If the government is greedy, then 20% is a good option for it. With that being said, the government's concern is only money. If it is going to regulate bitcoin and let you use it freely, then taxes should be applied. I am not supporting it, but I do not want bitcoin to be banned. Either way, 20% is a high percentage. But you know, the government always tries to manipulate the public which is not something new. Let's just hope for the better.

[genuin]

I really don't like it if the state legalizes bitcoin. Legalizing the same is giving tax to bitcoin. Then what is the meaning of decentralization promoted from blockchain? It is better for the state not to interfere in crypto matters

[sheenshane]

It really depends. If the government is greedy, then 20% is a good option for it. With that being said, the government's concern is only money. If it is going to regulate bitcoin and let you use it freely, then taxes should be applied. I am not supporting it, but I do not want bitcoin to be banned. Either way, 20% is a high percentage. But you know, the government always tries to manipulate the public which is not something new. Let's just hope for the better.

A 20% of taxation is quite low demand in the government, in some developing countries they implement having tax 20-40% in each citizen so, probably that is too low. Well, but I guess it depends on which country you are in some countries they did not force others and their citizenship. Well, luckily here in my country tax implementation to the government is quite not yet implemented in that case we only pay tax if we buy goods using this.

[Cupomi]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

countries that have supported bitcoin as a legitimate medium of exchange are likely to be taxes from the buying and selling process and the possibility of small taxes not up to 5% of the sale value, but if a country that has not recognized bitcoin as a legitimate medium of exchange they recognize bitcoin as an asset and Automatic taxes can also be large, maybe between 5% and 10% of the assets they own.

[gayletot]

how to tax the bitcoin? the goverment of these countries is not aware of it. but if that's the case, then we will not do the government anymore. when there is a discussion about the need for tax deduction from the government.

[LeGaulois]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

It is already taxed. Since trading is taxed, no matter if you trade Bitcoin, fiat, or potatoes you are supposed to pay your taxes related to the profits. I am referring to regular traders as a job, not random users trading $10 weekly. It's not something new. I am currently paying 5.5% but I was supposed to pay 20.6%

[BitHodler]

It is already taxed. Since trading is taxed, no matter if you trade Bitcoin, fiat, or potatoes you are supposed to pay your taxes related to the profits. I am referring to regular traders as a job, not random users trading $10 weekly.  

It makes me wonder, are people really that ignorant to believe that you don't have to pay tax over crypto trading activities, or are they blindly assuming that because crypto is "anonymous" they can keep avoiding taxation.

Either way, everything over a certain amount is subject to taxation. The only difference is that the rates depend on what you are trading or holding, and in this specific case countries may have a different opinion on what Bitcoin is.

I am currently paying 5.5% but I was supposed to pay 20.6%

Not sure where you're from, but in some countries the difference between short term and long term gain taxation is quite significant. In my case ~22% is the highest tax rate for longer term gains. It seems to be an average figure.

Japan seems to be going crazy with 55%. That's straight theft.

[LeGaulois]

It is already taxed. Since trading is taxed, no matter if you trade Bitcoin, fiat, or potatoes you are supposed to pay your taxes related to the profits. I am referring to regular traders as a job, not random users trading $10 weekly.  

It makes me wonder, are people really that ignorant to believe that you don't have to pay tax over crypto trading activities, or are they blindly assuming that because crypto is "anonymous" they can keep avoiding taxation.

Either way, everything over a certain amount is subject to taxation. The only difference is that the rates depend on what you are trading or holding, and in this specific case countries may have a different opinion on what Bitcoin is.

I am currently paying 5.5% but I was supposed to pay 20.6%

Not sure where you're from, but in some countries the difference between short term and long term gain taxation is quite significant. In my case ~22% is the highest tax rate for longer term gains. It seems to be an average figure.

Japan seems to be going crazy with 55%. That's straight theft.

Because they have never paid taxes in their life, they are under 18 years old, or they live with their mom and dad.
In my country, the standard is 35-40% ( minus 5% per year of hold) (no taxes below 5k euro yearly) unless you are a trader, in this case, it can go up to +60%. I am lucky to pay only 5% because I use a special legal structure otherwise I am supposed to be taxed 20.6%

[KorakPawon]

Regarding tax, it is currently being discussed by people, but we must remember that the name tax is obligatory for us to pay as good citizens. We, taxpayers, nominal problems may depend on the government policy itself and if possible, as low as possible. for taxes.

[Tigorss]

tax payments in bitcoin have been the subject of several weeks that there are those who agree on taxes there are also those who reject it for various reasons, but we must remember that as good citizens we are taxpayers because it is for personal interests not personal interests.

[Thirdspace]

... but we must remember that as good citizens we are taxpayers because it is for personal interests not personal interests.

what is the bolded part supposed to mean?
were you trying to say "for public interests not personal interests"

It makes me wonder, are people really that ignorant to believe that you don't have to pay tax over crypto trading activities, or are they blindly assuming that because crypto is "anonymous" they can keep avoiding taxation.

they definitely thought that, they think they can avoid tax forever
also because the government in my country hasn't regulate bitcoin yet,
people think (strongly believe) they don't have to pay tax on profit from any bitcoin related activities *facepalm*
most ignore the principle of self assessment tax and the notion what counts as income

[Patient_Zero]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

taxes that may be applied to bitcoin will probably be divided into two, income tax and property tax assets ... regarding the income tax that is usually applied is a sale and purchase tax, the odds range from 5 to 10%, and the asset tax is much smaller between 2.5 % only, that's the general one, but for the case of bitcoin everything can be different depending on the respective government ...

[marcbitcoins]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

It is not inevitable but Bitcoin tax is already applied in most of the nations that Bitcoin is legal but regarding the tax percentage then it will depend of what country you belong like in Germany is free of tax, In Japan its 15 to 55% and in France its 19%. I don't know how much in other countries but you may search the google including on how these government applied their Bitcoin tax to the users.

[Theb]

It is not inevitable but Bitcoin tax is already applied in most of the nations that Bitcoin is legal but regarding the tax percentage then it will depend of what country you belong like in Germany is free of tax, In Japan its 15 to 55% and in France its 19%. I don't know how much in other countries but you may search the google including on how these government applied their Bitcoin tax to the users.

There is no such thing as "Bitcoin Tax" as the only way of identifying what kind of tax your Bitcoin earnings are is the way you earn it and that involves taxes ranging from Capital Gain tax to Income tax, some countries even subject there taxes to VAT for customers paying in cryptocurrency in goods and services. And to correct you, Germany has not completely exempted the tax burden in their country, they only exempt the consumption tax from trading cryptocurrencies as they find it invalid for the field, other taxes still apply in trading such as capital gains tax, you can find out more in this article.

[Tapyaks72]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

It is not inevitable but Bitcoin tax is already applied in most of the nations that Bitcoin is legal but regarding the tax percentage then it will depend of what country you belong like in Germany is free of tax, In Japan its 15 to 55% and in France its 19%. I don't know how much in other countries but you may search the google including on how these government applied their Bitcoin tax to the users.

Taxation is one of our duty and obligations, since bitcoin is a a currency as per say, your obligation to pay taxes what the law provide, and also it is beneficial to the economy of a certain nation, and obligations to protect users of cryptocurrency from any scams  or illegal activities in which for me it just fair and just to the users and the government.

[KorakPawon]

the name of the tax can not be avoided, because wherever we live, the tax is mandatory, all people will be taxed in everything. so there is naturally a good citizen paying taxes. even if yes I can bargain, I expect the tax to be charged is as minimal as possible

[Tigorss]

Taxes already exist in government regulations on taxpayers, so wherever we live we will definitely meet taxes and this is indeed unavoidable, and if you can, you can bargain, I expect a minimum tax.

[goaldigger]

On my mind it says 30% but i guess 10% is enough. Bitcoin does not classify as a full investment and its earnings doesnt mean it is a dividends or so. Bitcoin is also a currency which means it has a purchasing power. 10% income tax would be enough for the government to legalize it.

[cellard]

It is already taxed. Since trading is taxed, no matter if you trade Bitcoin, fiat, or potatoes you are supposed to pay your taxes related to the profits. I am referring to regular traders as a job, not random users trading $10 weekly.  

It makes me wonder, are people really that ignorant to believe that you don't have to pay tax over crypto trading activities, or are they blindly assuming that because crypto is "anonymous" they can keep avoiding taxation.

Either way, everything over a certain amount is subject to taxation. The only difference is that the rates depend on what you are trading or holding, and in this specific case countries may have a different opinion on what Bitcoin is.

I am currently paying 5.5% but I was supposed to pay 20.6%

Not sure where you're from, but in some countries the difference between short term and long term gain taxation is quite significant. In my case ~22% is the highest tax rate for longer term gains. It seems to be an average figure.

Japan seems to be going crazy with 55%. That's straight theft.

As long as you stay within crypto, there's no way in hell they can tax it. However all these idiot kids that suddenly become rich, sell and buy a lambo, are wondering if they need to pay tax or not. Of course you will pay tax.

Even if you bought the car without going through fiat (for instance, there are ways now to buy luxury cars with bitcoin) the government would eventually find out you own a supercar and will ask where they money came from, you must be able to prove you didn't get paid for illegal activities, then you will get that money taxed.

The only thing you can do is to "vote with your money" so to speak. That means, go to the country that better serves your interest, ideally with a jurisdiction that will not be trying as hard as possible to label you a terrorist because you dealt with crypto and will basically confiscate your hard earned money.

[KorakPawon]

As human being, It's normal if most people don't want to pay tax, cause they think about win and lose out. so, if newbie has no willing to pay tax but eager to earn money as much as possible that's very normal I guess. Bitcoin is taxable, but the problem is I also still have no idea what or how the tax will be applied on crypto.

[saara]

hello guys. i came accross the page https://kaliyahcrypto.code.blog/2018/09/27/how-to-get-up-to-40-000-a-month-with-simple-mining/ and it sounds good to be true. but also while reading the post, i didnt find anything which reminds me of scam. can anybody give me opinion on this, i wana try it but i dont wana waste my time if its scam. can somebody tell me what to do?

[bajigur894784]

If possible, I expect low taxes, even I hope to remain tax-free. But, Around the world, tax authorities have tried to issue regulations on bitcoin. The US Internal Revenue Service (IRS) and colleagues from other countries are mostly on the same page when dealing with bitcoin care.

The IRS says that bitcoin must be treated as an intangible and non-currency asset or property because it is not issued by a country's central bank. The treatment of Bitcoin as an asset makes tax implications clear.

If bitcoin is held for a period of less than a year before selling or exchanging, short-term capital gains tax is applied, which is the same as the ordinary income tax rate for individuals. However, if bitcoin is held for more than one year, the long-term capital gains tax rate is applied.

In the US, the long-term capital gains tax rate is 0% for people in 10% -15% of the ordinary gross income tax rate, 15% for people in 25% -35% tax group, and 20% for those in 39.6 tax bracket %. Thus, individuals pay taxes at a rate lower than the usual income tax rate if they have held bitcoin for more than one year.

However, this also limits tax deductions on long-term capital losses that a person can claim. Capital losses are limited to the total capital gains made in the year plus up to $ 3000 of ordinary income.

[jekquenkinkas]

for the time being, there is still a stage for tax talks on the market.
And I think if applied to the market, transaction costs will increase also when we trade.

[amar786]

tax should be levied on bitcoin at minimum rate to give favour to the person,s holding bitcoin for a better future of trading business. anyhow none of us know how a country deal with his financial policies.

[countryfree]

I'm expecting to be taxed at the same rate as my regular income: 0%. Sometimes I think that if everybody was living the way I do, governments would go bankrupt. It would be so great! There would be no more war!

[Ridwan Fauzi]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

For every government that imposes a tax on cryptocurrency users it is natural to do. With the tax at least will provide comfort to every user, not only that the government can ensure that cryptocurrency is very suitable to be used as a place to earn income, especially for every country that has a high unemployment rate. And in my country the tax that must be spent on each stock investor or a trader the governmet pegs them to tax is 10%, and I guess if cryptocurrency users have to pay taxes, 10% is enough.

[Maricel2017]

I do not know how much taxed impose by trading site we used because while we are using the site the owner of the site should pay taxed to the government that is why every time we do trading yhere are some deduction which we called transaction fee and that fee is a taxed and less in our income.

[BitHodler]

As long as you stay within crypto, there's no way in hell they can tax it.

Legally they can and do where I live. Crypto isn't really even the main thing my local tax authority focuses on, they stack the value of your crypto holdings on top of your regular holdings, and you have to pay tax over it every year.

It's pretty brutal because even if you don't add anything to your net worth, or lose 50% of the value for whatever reason, you still are subject to a near 2% annual tax hit based on the total total amount.

I'm not necessarily against tax, but this is the worst form of taxation ever in my opinion. Why should I pay tax over the same amount of money over and over again? If you don't they'll throw you in jail for a couple of years.

[zahed]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

10% are ideal i expecting that. 20% too much i thinking. Bitcoin trading taxed paying started in any countries?
South Korea, Canada, Japan & United States taxed accepted countries, South Korea 24.5% taxed required for traders.

[senin]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

In my country (Ukraine), in several legislative bills have been submitted to the legislature on the regulation of the crypto currency, and two of them contain tax rates on the crypto currency: the first bill provides for a zero rate, that is, exemption from taxes when dealing with crypto currency, and the second provides for a tax of five percent of the profit in crypto currency. Both bills are very good and I hope that the tax will not increase when one of these bills is adopted.

[jossiel]

19% and 20% is too much but the authorities have the power to declare the percentage of taxation and that depends on how they can see how profitable bitcoin is. But I think they will just in line it with the same income tax / revenue tax percentage.

Each countries does have their own reference on how much they are going to tax. Some countries are even declaring it with an exception base on how much you make monthly.

[candra raditya]

I think it is difficult to apply taxes on bitcoin because bitcoin is not regulated by third parties, and although in the future bitcoin can be legal and taxable, maybe 1% is not too heavy.

[tanoe]

Legally they can and do where I live. Crypto isn't really even the main thing my local tax authority focuses on, they stack the value of your crypto holdings on top of your regular holdings, and you have to pay tax over it every year.

It's pretty brutal because even if you don't add anything to your net worth, or lose 50% of the value for whatever reason, you still are subject to a near 2% annual tax hit based on the total total amount.

I'm not necessarily against tax, but this is the worst form of taxation ever in my opinion. Why should I pay tax over the same amount of money over and over again? If you don't they'll throw you in jail for a couple of years.

With tax calculations like this? why don't you keep your assets outside of the country where you live. because in my opinion, it's very crazy. your assets will only continue to decrease due to unreasonable tax calculations.

As human being, It's normal if most people don't want to pay tax, cause they think about win and lose out. so, if newbie has no willing to pay tax but eager to earn money as much as possible that's very normal I guess. Bitcoin is taxable, but the problem is I also still have no idea what or how the tax will be applied on crypto.

I assume that many people want regulation and taxes in their country against bitcoin. Why ? because when the tax has been imposed and carried out with the right regulation. automatically, the country has legalized the circulation of cryptocurrency itself. I am really waiting for this, when I can use cryptocurrency in my own country with clear regulations.

[1NV3ST0NM3]

Bitcoin taxation has been discussed a number of times on this forum and now it has become very clear that you cannot evade bitcoin taxation when imposed on by the law makers of your nations.

You cannot totally evade from the rules and regulations set by the authorities. If you're to derive income by any form, be it capital gain or other source, you have to pay a portion of it to the government of your nation.

And if the government of your country is really supportive as in case of Japan, then you cannot run off from your duty towards the nation.

[xIIImaL]

Bitcoin taxation has been discussed a number of times on this forum and now it has become very clear that you cannot evade bitcoin taxation when imposed on by the law makers of your nations.

You cannot totally evade from the rules and regulations set by the authorities. If you're to derive income by any form, be it capital gain or other source, you have to pay a portion of it to the government of your nation.

And if the government of your country is really supportive as in case of Japan, then you cannot run off from your duty towards the nation.

Bitcoin is not legal in my country, I have checked with my friend who is working in tax department in my city. He said that 15 percentage is the fund some miners and traders paying since they earn via crypto currencies.

Government needs to support and make the tax on crypto to cheap. This will erode the problems and tax issues even involved in crypto industry.

[BitHodler]

With tax calculations like this? why don't you keep your assets outside of the country where you live. because in my opinion, it's very crazy. your assets will only continue to decrease due to unreasonable tax calculations.

It's not as easy as it may seem, especially when my local tax authority knows what I have because I declared my holdings. In total they know about 40% of my Bitcoin holdings and the rest is secured without anyone knowing.

By hiding 60% of my holdings I effectively have made sure that they can't tax me over that part of my net worth, but that also means that I have to figure out how to legally use these funds somewhere in the future.

Good thing is that Bitcoin has so much more potential to increase, that inflation and tax hits aren't really a problem in the long run. The Bcash fork last year was a welcome event with how I use the free coins to pay my taxes with.

[tanoe]

With tax calculations like this? why don't you keep your assets outside of the country where you live. because in my opinion, it's very crazy. your assets will only continue to decrease due to unreasonable tax calculations.

It's not as easy as it may seem, especially when my local tax authority knows what I have because I declared my holdings. In total they know about 40% of my Bitcoin holdings and the rest is secured without anyone knowing.

By hiding 60% of my holdings I effectively have made sure that they can't tax me over that part of my net worth, but that also means that I have to figure out how to legally use these funds somewhere in the future.

Good thing is that Bitcoin has so much more potential to increase, that inflation and tax hits aren't really a problem in the long run. The Bcash fork last year was a welcome event with how I use the free coins to pay my taxes with.

Woooww, it takes patience and a smart strategy to hide most of your assets while 60% of those assets cannot be used freely without tax. isn't it ?
and, does relying on a fork event be the only solution? I think you have to think of another solution. because this is an event that doesn't even happen, right? what your another plan ?

[BitHodler]

Woooww, it takes patience and a smart strategy to hide most of your assets while 60% of those assets cannot be used freely without tax. isn't it ?

It could, but it would need to be spent on things not requiring any form of registration and whatnot. I don't really mind it at this point, I'll figure something out later on when the time is right.

and, does relying on a fork event be the only solution? I think you have to think of another solution. because this is an event that doesn't even happen, right? what your another plan ?

I don't rely on forks. I genuinely keep my coins offline for the purpose of building up wealth in Bitcoin and having money that can't be seized. Forks are nothing more than an annoyance to be honest.

People think it's free money, but they don't realize that cashing out fork coins means that you are pretty much signalling that you have an equal amount of Bitcoin that has been hidden for many years.

[alex_gr_cc]

I am also sure that sooner or later they will impose a tax on cryptotrading. In my country, I expect a tax of 10%. But it concerns the centralized exchanges. In this case, many will go to the decentralized exchange. There can be no taxes.

[Cherylstar86]

I wouldn’t dream for that situation seeing bitcoin imposed with any tax value, since this was a decentralized currency operating blockchain transactions across the globe.
Although most of us see this as a growing digital currency, but it differs with fiat whose been bind with government regulations. Bitcoin has its own freedom of financial system separated from fiat cash economy. In any form of legality of bitcoin in the future, I just hope that government will review this matter against value of taxation when our law will be ready to recognize bitcoin as regular currency to be used around the world. Because, once it was coursed through globally I think there might be a corruptions toward taxable value.

[Mhd-Bobbi]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

Why do you ask about tax?
Do you know who is the creator of Bitcoin?
Or have you paid your building and vehicle taxes?
If you have not paid taxes, then you have no right to question the Bitcoin given what percentage of tax, because you have not paid the tax on your building and vehicle.