Bitcoin tax value

[Girlsbit]

Taxes are inevitable and everyone understands this.

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[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