Do traders pay income taxes?

[bekti3]

if it is a tax issue, it depends on each country ... in my country, profit trading is one of the objects that are taxed, because profit trading is one of the sources of income (General Income Tax 17 of the Income Tax Law Number 36 of 2008), I think the treatment of each country about profit from trading is not much different

[leviathon]

Some might do if their country requires them but not all of them do since a lot of the countries have not yet figured out how they are going to properly tax the coins and the income of the traders so for now only a few countries pay income taxes for their earnings from cryptos. But we should all be ready because there is going to come a time where we all will

[VeeraS]

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?

there is no tax in the crypto trade, except the fee in every cash withdrawal.
and transaction costs only. and I think friends here have conveyed in detail to you, so you only need to look for insights there

[bestcoins1]

Some might do if their country requires them but not all of them do since a lot of the countries have not yet figured out how they are going to properly tax the coins and the income of the traders so for now only a few countries pay income taxes for their earnings from cryptos. But we should all be ready because there is going to come a time where we all will

in my opinion until now there is no country that requires paying taxes to traders, because every country must make regulations if it wants to take taxes from traders and in my opinion it will be very difficult because the identity of traders is very difficult to trace.

[macit800]

It depends of the country where you live. If you trade well and make good profits then I think that you need to pay taxes, but it is important to ask the rules about this topic in your country for the best information.

[hell_slayer]

The rules on taxation of cryptocurrency operations vary greatly in different countries, so the most correct would be to consult with a professional lawyer in your city, rather than asking ordinary people on the forum who do not know all the subtleties of taxation and do not even know what country you live. This is a serious issue that can entail serious consequences in the form of heavy fines or criminal penalties for tax evasion, therefore it is better to take this issue seriously, especially if the amount of money you operate is significant.

[smoolae]

I think paying taxes from your crypto profits come down to where does a one live. For me it's easy - anything under 500eur is tax-free and anything over is taxed by 20%.

If you earn profit of let's say 600eur, it's like: (600-500)*0.20=20eur for taxes.

[leow]

You asked a very exciting question for many. Since I have heard about various bills that want to tax all the profits from the crypto currency. It does not matter whether you get your income by trading, mining or bounty companies. What to do at the moment, I don't know, but I think in the near future all will become clear and we will understand what to do to be clean before the law.

[treatWy]

It is impossible tod o as bitcoin is decentralized system. Only if this crypto world will become centralized that would be the time we pay taxes to government from the total income that we've earned.

[Panko1991]

In my country trading with cryptocurrencies or even with traditional ones are non-taxable income. So it all depends on the country you are in.

[craked5]

I don't think that traders should pay income taxes. I think exchanges should pay taxes based on volumes/commissions of their trading.

[CTO@MyBitMine]

Obviously it depends from your country and laws. Personally I still do not pay any taxes to goverment, but situation can change anytime. Crypto growing and it's just a question of timewhen it will be taxes by goverment.

[ShareAccepted]

Yes, as a trader you have to pay taxes, but you can discount loses and have some other advantages in most countries that will allow you to deduct more. You should look into your countrie´s laws.

[Inastran]

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 in my opinion it depends on tje country you are in and in some countries people do not pay taxes even if they should

[sidodadii]

if in your country have regulation about cryptocurrent (like, tax 1% per month) you may pay it. but if no regulation, no need to pay tax. but if you want to help government 'develop' their action, then just pay it.
in my country still no regulation about bitcoin, so im just play and joy what i earn. but if they make it, i will follow what they say

[tamango]

It really depends on what country you live but generally crypto are considered like securities so if you have a capital gain you have to declare it and pay taxes on it in most countries.

[sinkfish]

depends on country, Most of the Asian country are not. different story if you  at US or Europe.

[BogdanGFTP]

That depends on country where are you from. I live in Ukraine and we have a huge legal gaps when we look at cryptocurrency trading. And because of that we do not have to pay income taxes in that situation.

[kevinzxz]

of course I don't pay taxes on cryptocurrency trading income, because in my opinion there are no legal regulations on cryptocurrency and the amount of tax that must be paid, therefore I don't pay taxes until cryptocurrency is legalized and there are tax rules from cryptocurrency trading income.

[fonengo]

Hi, everybody. I pay taxes. And my friends who are engaged in trade also pay.