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Author Topic: Considering about to collect tax about crypto currency  (Read 568 times)
KrishaBitcoin
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October 08, 2018, 01:55:30 AM
 #41

What a tough process of collecting Bitcoin tax in your countries but here in my country the tax was simply collected thru our local exchanges that everytime we convert our Bitcoin to fiat then the total fiat receive is already tax and blockchain transactions deducted so i hope this process will be applied in your country too.

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October 08, 2018, 05:14:58 AM
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What a tough process of collecting Bitcoin tax in your countries but here in my country the tax was simply collected thru our local exchanges that everytime we convert our Bitcoin to fiat then the total fiat receive is already tax and blockchain transactions deducted so i hope this process will be applied in your country too.
Yes, most likely it will be. The tax authorities will receive information from local exchanges located in the territory of this state, but most likely, the tax will automatically be charged and collected from each transaction at the exchange itself. This is the best option for practical taxation. Well, if citizens will go to the exchanges located on the territory of other states, decentralized exchangers? Is it really possible to avoid taxation?
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