Do traders pay income taxes?

[Diced90]

I think because most countries have not legalised or cypto in any way and is much a topic that's hanging in the air. Though, if you decide to take it out via banks then that money should in theory be declared.

[shadowduck]

If the law exists within the country with the law on the payment of tax on traders , they are obliged to pay tax , and if not then they do not need to pay anything.

[bchain22]

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?

It all depends on the laws of your country. I would start by checking your countries income tax regulations.

[craked5]

if exchange is registered in legal country, not offshore, it will pay taxes from their income. their income = fees of trading. traders pay fees while trade. that is how traders pay taxes.

[igor.vanyutin.83]

I do not thing that crypto traders are paying taxes. You traded on an exchange, withdrawal you funds and spend them on your needs. Maybe legal exchanges are paying something from their commission fees but no trader pays taxes.

[cryptonewsID]

If the law exists within the country with the law on the payment of tax on traders , they are obliged to pay tax , and if not then they do not need to pay anything.

we all will definitely pay taxes if the government requires and is the same as crypto if there is a tax by the government that will be followed by traders, but depends on a country.
in my country bitcoin is still illegal, and is not taxed.

[cah ndablek]

If the taxes problem might depend on the government in a country because with the government policy on trade in the world of cryptocurrency, enthusiasts must automatically comply so that things do not appear bad later and mutually beneficial.With the cooperation between residents and the government.

[ndico]

It depends on country, some countries do pay tax for their trading but for me and my country, I don't pay taxes for trading or owning cryptos because in my country the government have not noticed cryptos at all and no decision or whatsoever have been taken as regards to cryptos and blockchain.

[asder250]

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?

It depends on country where you live.
I live in country where every exchange (for example Bitcoin to Ethereum) should be taxed. Is that normal?

[willnotwas]

It depends on country, some countries do pay tax for their trading but for me and my country, I don't pay taxes for trading or owning cryptos because in my country the government have not noticed cryptos at all and no decision or whatsoever have been taken as regards to cryptos and blockchain.

Taxes on fiat is the government's field, they could ask for taxes because it's their Currency.

[Kiefner]

To a greater extent, it all depends on what country you live in and what amounts you will have. If you have a month to be plus $ 1,000, I think you can safely avoid paying taxes. At least so in my country.

[DeKingCrypto]

I think this is depending on where you stay, that's your current location. But there are many places out there where you can just start trading without paying taxes not even need to open any company.

[fianaindriati]

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 have yet to find out that the trade is taxed. the problem until now the existence of bitcoin has also not been officially recognized by many countries. so otu tax cannot be set yet.

[nikola22]

I do not thing that crypto traders are paying taxes. You traded on an exchange, withdrawal you funds and spend them on your needs. Maybe legal exchanges are paying something from their commission fees but no trader pays taxes.

in USA traders have to pay taxes and give reports about their profit. so it depends on the country you are living in.

[Vovka4]

I think that there are no such people who are willing to share profits with the government. Moreover, how are they going to prove how much he earned in a particular month? I believe that the tax collection from traders is very difficult to implement, especially who trades on cryptocurrency

[memFISTO]

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?

Most of coins are not regulated, so you even do not trade legally. That is why, there is no taxes, but you support the shadow economics of the world.

[Dpat]

As the cryptos are not legalised fully then what is the question for the income taxes? I think Govt. shouldn't impose any tax until it has legalised the same.

[paradigmaV]

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?

You need to study the legislation of the country where you operate. More and more countries are beginning to regulate crypto. And I am sure that sooner or later, everyone will work in the legal field. I support the idea that traders have to pay taxes. Crypto is becoming the same kind of business as other industries.

[Siegtal81]

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?

BTC has been recognized as commodity, so you will pay commodity taxes, if you are US citizen. In the same time, most of tokens are not covered by taxes.

[Erzinnum]

If you talk about cash your profits out, then you will have to declair your profits somehow, our you can get questions from government