Do traders pay income taxes?

[Betapikin042]

Well am not so clear about the taxation in the cryptocurrency world but I Feel there might be an indirect tax made during trading well I will do my research

[Iarnnoshre]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

well you have stumbled me with ylur question i have never thought about it in that way and i believe that i need to think it over

[Iarnnoshre]

Well am not so clear about the taxation in the cryptocurrency world but I Feel there might be an indirect tax made during trading well I will do my research

i am not so good at taxes and all of this so i think that it is a task for me to find out what i do not know as it is very important

[FlamingFingers]

Well, if your country has regulated cryptocurrencies (and their related actions) and considered them securities (which makes them taxable), then yes, you would have to pay taxes on your capital gains (that's of course if you are 'honest' enough to report your profits, which I think not many do so in the crypto world or elsewhere). In any case, you will get ripped off.

[atorle]

Whether you will pay income taxes on profits will depend on your country of residence and the applicable laws, I am curious though, what will happen on the days when you incurred losses on your trade ?

[Drobek]

It all depends on the country you live in. Some do pay taxes. India is an example tho in my country its tax free. Hope it remains so for a very long time  

[Specctrall]

it all depends on your country and what laws are introduced for cryptocurrency. in my country, while the cryptocurrency is not legalized and I do not pay taxes

[vavanpetrofan]

In my country there are no laws that regulate cryptocurrency. So I don't pay any taxes. I think that everything depends on the country and the laws in it.

[deus030518]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

As of now the traders are not paying income taxes cause the cryptocurrency is not under the goverment so there is no tax fee, but as of now we are just paying for the transaction fee that we are doing. But maybe in the future if the government will legalize the cryptocurrency they will put a tax fee for every income that we earn.

[Pendularin]

Nobody pays taxes on profits from their trade. No one can track your trade. All that you are forced to take away to yourself and pay nothing to anyone.

Decentralized currency trading has no taxes as long as government wasn't declaring it to individuals. Taxes was only handled by local trading fiat exchange and not with the subscribers itself, particular those traders who did the trading activity.

[kliown]

It all depends on what laws are established in your country, because for example I do not pay taxes on my profits from cryptocurrencies.

[PoliteHyena]

When monetary pro go up against loses I don’t think he had pay charges, as well why would anyone pay charges when he is at incident. Charge paying system may move from country to country. I think it’s prevalent paying charges. This is often a great thing.

[rimueng agam]

If at present there is no trader paying this tax because the government does not legalize the cryptocurrenny world so that the government is not entitled to tax and we are not required to pay it

[erox]

It all depends on your country of residence. If you are from USA then you have to pay tax.

[chip1994]

As I know there are no traders pay taxes for their income by trading cryptocurrency . In my country, there are so many traders and investors investigated because they exchange so many cryptocurrencies into cash, they earned thousands dollars by trading without paying any dollars for taxes and know they're being investigated at police office ). I think in the near future, all governments will control all acitivies in crypto world and all of us will have to pay taxes for crypto income soon.

[santino11]

NO, as the government will never payback what is the trader's loses.
though if this will get the cryptocurrency and ciruclation works bettr then i would be really going to have that.
But remember that in the market we will gain if we will have more that what we out.
every single percent is a good amount to have.

[Bill205]

It depends on which country the trader lives in and also depends on if he wants to cash out his cryptocurrency or not. If the income exceeds more than the limits set by the government to pay the income tax, then yes.

[Denreal]

Cryptocurrency operates with a decentralized system of transaction. Therefore, it is not subject to any governmental influence that charges tax. So you are not directly charged with any form of tax in transacting cryptocurrency. Although, i got to know that exchange sites, most especially the popular ones are charged with tax, which indirectly are deducted from customers that use their sites for trading or any form of transaction. Which was why i said you are not directly charged with tax.

[Lucas777]

I have never paid tax on my profits. Even I will tell honestly and I don't plan to do it. I don't see what I have to pay for.

[kingzpro]

Yes crypro trading is taxable in many countries around the world, i know in usa there is a strict tax policy and you have to file tax returns on crypto gains every year, so you have to follow the tax policies in the country where you live.