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%?

[1713494881]

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[1713494881]

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[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.