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Author Topic: Considering about to collect tax about crypto currency  (Read 194 times)
Oasisman
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September 12, 2018, 01:46:58 AM
 #21

That means turning every human on Earth into a slave.
I will never pay any tax on my BTC profits, just like I've stopped paying income tax in 1997.

It depends on the country that you have ran to. If you have eloped to a country where they don't joke with tax issues, you will still be traced and hooked to pay up your tax and if they also tax on bitcoin, you will be made to pay up.

No, sir. I will never pay income tax anymore. I'm not running, and no country can hook up with me for any reason. It hasn't been easy, but it's legal. I've been doing it for 20 years, so I know it works.

For some reason I have to agree with you. I also have been not paying my taxes for the last 5 years. They have not traced anything. Lucky, my country's government doesnt have any solid decision on whether Bitcoin could be legal or illegal to use, but the central bank recognizes Bitcoin a year ago, so I guess its considered legal then. But, there has no plan for taxation yet.
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Hannahanto
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September 12, 2018, 04:36:43 PM
 #22

I don't think we have a problem here in calculating tax amount for the crypto earnings one made. Every government has compelled its citizens to hold a identity card to record the income and expense per day /month/ quarter or year. We do have a system to record the income. Though each citizen is bound to follow paying tax to their income, they either skip or omit paying taxes. Its the citizen's responsibility to obey and pay the tax to the income they are opt to.

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September 12, 2018, 10:18:01 PM
 #23

That means turning every human on Earth into a slave.
I will never pay any tax on my BTC profits, just like I've stopped paying income tax in 1997.

It depends on the country that you have ran to. If you have eloped to a country where they don't joke with tax issues, you will still be traced and hooked to pay up your tax and if they also tax on bitcoin, you will be made to pay up.

No, sir. I will never pay income tax anymore. I'm not running, and no country can hook up with me for any reason. It hasn't been easy, but it's legal. I've been doing it for 20 years, so I know it works.

For some reason I have to agree with you. I also have been not paying my taxes for the last 5 years. They have not traced anything. Lucky, my country's government doesnt have any solid decision on whether Bitcoin could be legal or illegal to use, but the central bank recognizes Bitcoin a year ago, so I guess its considered legal then. But, there has no plan for taxation yet.
Same with me here my country also has no desired preference with Bitcoin as legally being associated as currency. But the most important thing for me now was, because of it's decentralized type as digital currency it remained to be untouchable. Even with countries who banned bitcoin, they had their anonymous involvement with cryptocurrency and transactions wise it can be done discreetly.

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September 12, 2018, 11:34:07 PM
 #24

By cooperation, do you mean sharing taxpayer info between countries? I personally wouldn't be very comfortable with that.

I mean shareing trade history report, and that make me uncomfortable as well. But even now Japanese government seeks the submission of reports to domestic exchanges and strengthens regulations on foreign exchanges.
If government can not grasp the transaction history on foreign exchanges, people will use foreign exchanges to escape tax, and crypto become a hotbed of tax evasion. I think it's not good for the future development of crypto.

I think you are beginning to see the benefits of crypto. censorship resistant, secure and borderless exchange of value.
This idea of using foreign exchanges to stay off the radar of local criminal mobs in government is a major benefit and will not slow down crypto development at all, the exact opposite really. It is the whole reason behind the crypto movement.
To give people control over their wealth again and protection from being extorted by criminals wearing suits.
If centralised exchanges bow to the will of local authorities then decentralised exchanges will rise to fill the void.
The sooner people wake up and realise that taxation is nothing more than legitimised theft the better.
tactac
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September 20, 2018, 03:21:42 PM
 #25

How do you think about CRS(Common Reporting Standard)?
At present, crypto currency transactions are not covered by this system, but I think it will be covered in a few years.
Application of this system will allow governments to get a information from  foreign governments automatically to disclose transactions of residents, and it make Crypto World more uncomfortable.
The following are the main members of CRS. America is not a member.


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