Do traders pay income taxes?

[jak3]

I don't think so trading is not considered as income but still, it's your amount which matters if you have a higher amount trading then, of course, you have to pay income taxes but if you have smaller amounts and you are creating because of your individual profit then you do not have to. There is a line which if you cross only then you have to pay income tax. But still there transaction fees which are being deducted no matter you win or lose you have to pay those trading charges from every order you do.

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[balfouri]

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?

In our country cryptocurrency is not illegal and not legal but we had a freedom.What earn in this cryptocurrecy was no taxes because it is not a registered income.

[ivanleon]

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?

The question is interesting, of course. In General, the income tax will have to pay, I think, to come to the tax and declare. Perhaps, if you do it professionally, there are taxes for self-maintenance, in each country in different ways. I do not think that you just need to run and register an individual entrepreneur, first you need to learn how to not lose money.

[DonnieMitchel]

in most countries, crypto trading is still illegal or unauthorized, thus you do not pay any taxes.
To pay or not to pay, you will have to check you country regulations

[Sondale]

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?

actually i think it depends on the country you work in and on the conditions you have for your working process

[Sondale]

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?

The question is interesting, of course. In General, the income tax will have to pay, I think, to come to the tax and declare. Perhaps, if you do it professionally, there are taxes for self-maintenance, in each country in different ways. I do not think that you just need to run and register an individual entrepreneur, first you need to learn how to not lose money.

yes you have to pay taxes btu what if yiu are worling form the country in whicg cryptocurrency world is not allowed

[the1arty]

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?

Sure, it all depends on the country you are a resident. However, it is counted as capital gains.
You can open a company, but it's harder to withdraw fiat to the company's bank account, as far as I am aware on coinbase it will be quite an issue. They stopped for a while, not sure what's happening now if you can open an account on coinbase as a company.
What works for me, is being as a self-employed, once you withdraw you pay the taxes from the gains.

[paramelton]

That pretty much depends on the country where you get your income for trading and that certain country's tax system. But I know many people who don't pay tax from crypto earnings at all, they use to go to bitcoin ATMs, even travel to different countries and get fiat from there.

[cryptohunter]

all move to denmark there are no taxes on crypto

or if you are amateur just gambling on shitcoins with no training and just guessing if they will go up or down it will be gambling and again zero tax for some countries like uk and others.

[stefany101]

I think they are if the wallets designed by their country requires tax/es to pay before some cash-out requests then they are paying it but if there's not then they only pay the transaction fee/s in the exchange they are traded.

[Kool5]

They themselves do not know what they did, because the crypt on the blockade is decentralized and no taxes are needed. And if someone paid taxes, he was and did not participate on his platform or did something wrong.

[Ayomiqueen]

Tax is not apply to trading in crypto but some country are on that to make it work by collecting tax from every crypto trader which as brought about regulating and legalized the crypto but it all depends on your country if is allow and if the tax has been impose on trader but most are not paying now cause crypto is still decentralized and not control by any government .

[boltz]

Mostly It depends on the country that you are based in. As an exemple, in my country, traders are not paying any taxes, however for big amount of money you must go and register your cash and how you got them at the financial institute.

[ccsang]

Different country different rules, you need to ask in your local board and maybe some crypto expert will give you suggestion, I don’t have pay income tax because my country haven’t announcement accept cryptocurrency or it’s illegal, so I just direct withdrawal profit to my bank account

[Ondre]

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?

I think it depends on what country you belong. In our country if you are registered as a company, then you are really expected to pay your taxes.
If you call it a personal business and register in the government, you pay tax.
If you’re trading independently but not registered as a worker, you don’t pay taxes in a sense you pay tax through your payment in exchangers where you exchanged your money.
As for me, if i will be taxed, I don’t have problem with it because I know it can help the economy of my nation.

[Vasilisochka]

On the exchanges take commission for the withdrawal of funds. While not large, so there are no special disappointments.

[pinoyrichkids]

Crypto trading this time do not imposed taxes,  but it depends on your country of origin, if the cryptocurrency has been regulated, expect that you need to pay the right taxes, but if the country does not regulate yet the cryptocurrency, taxes is a NO. Ive been reading some of this information and based on what ive heard.

[zeze18]

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?

One of the reason why people invest in bitcoin, they want to hide their money for avoiding tax.
But as a good people, we have to pay tax for our country

[Dhaniii]

As far as I know, trading coin does not pay taxes, because there are no regulations governing if a trader has to pay taxes from a portion of the income earned. but only pay a fee when we want to buy and sell new coins. on all exchanger there will be deductions from the balance if you make a sale.

[markcruz5554]

You're supposed to if you make a profit but most probably don't. Taxes are a part of any sort of business.