May tax ba ang Cryptocurrency?

[Godric-Gryffindor]

Just wondering, ang cryptocurrencies ba ay may tax? Ayon sa Taxation Law ng Pinas, kapag kasi ang isang freelancer ay lumagpas ang kinita sa PHP250,000 sa loob ng isang taon ay may kaukulan na itong tax.

This case might be sensitive pero matanong ko lang, wala pa bang kumatok sa mga bahay sa inyo ayon sa usaping ito? I mean tax evasion.
Share your thoughts and experiences, hirap kasi na parang ilegal tong ginagawa natin dahil wala naman talagang batas ukol dito

There is a law that is already in move to protect freelancer in general, but this law extend only to those who earn peso and other fiat currency. This law will required individual and company to declare earnings and protect freelancer to the possibility of under pay and more.

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[Anyobsss]

Just wondering, ang cryptocurrencies ba ay may tax? Ayon sa Taxation Law ng Pinas, kapag kasi ang isang freelancer ay lumagpas ang kinita sa PHP250,000 sa loob ng isang taon ay may kaukulan na itong tax.

This case might be sensitive pero matanong ko lang, wala pa bang kumatok sa mga bahay sa inyo ayon sa usaping ito? I mean tax evasion.
Share your thoughts and experiences, hirap kasi na parang ilegal tong ginagawa natin dahil wala naman talagang batas ukol dito

as far as i know, walang tax ang pagkita sa crypto currency dahil hindi naman ito centralized, meaning hindi ito dumadaan sa banko or what. Marami tayong ways para makapag withdraw ng pera e.

[Rhizchelle]

Until now, wala pa pong tax ang cryptocurrency kase, it has it's own coins. Ang mga remittance lang ang merong tax, dahil sa fee.

[Chibongvdg]

Hanggang ngayon buong buo ko pa rin nakukuha ang mga kinikita ko sa cryptocurrency. Nangangahulagan lang na wala pa itong tax. Kaya siguro dapat natin sulitin habang ito ay libre pa. Hindi natin alam kung hanggang kailan ito magiging tax-free kaya mabuting samantalahin na ang pagkakataon.

[Carrelmae10]

..sa tingin hindi naman masama itong pagiging involve natin sa crypto world..it so happen na hindi pa legal sa pinas ang cryptocurrency kaya hindi pa nalalapatan ng kaukulang tax ang mga kumikita dito..maswerte nga tayo kung tutuusin kasi meron pa tayong tax excemtion kasi hindi pa ganun kainvolve ang government natin sa crypto world..

[rnchavez19]

napakagandang tanong kabayan.

Sa totoo lang, alam naman natin lahat na ang cryptocurrency ay isang sanggol pa lamang lalo na dito sa pilipinas.
Sa tingin ko ang pangunahing misyon o halaga ng cryptocurrency ay upang maging "decentralized" ang mga transakyon mula sa isang ideyolohiya ng mga pioneers ng bitcoin sa pagtangkilik ng cryptocurrency.

Sa pagkakaalam ko wala pang batas para meregulate ang paggamit nito at magkaroon ng saklaw ang gobyerno dito, ngunit sa paglipas ng panahon, ito rin ay mapapansin at hihigpitan.

[conanmori]

so far wala pa naman akong nakita na nagbayad ng buwis sa paggamit ng crypto ng isang tao lamang or pumunta para singilin ito para sa buwis. Mahirap kasing ma trace kung sino ang tao na nagcash out dahil na nga sa maraming paraan at hindi tayo naka rehistro sa banko upang kunin ang pera natin na nagbibigay ng ang mga information para ma trace nila kung nasaan tayo. Pero okay na din siguro na wala munang buwis dahil sa mataas din minsan ang fee na binabayadan natin sa pagkuha ng pera depende sa paraan kung paano natin kunin ito.

[criz2fer]

I consult this thing sa isang retired judge, ang sinagot nya sa akin is ganito.. as a cryptocurrency wala but kapag ito ay ipinapalit na natin sa peso, this is considered as kita so ito ay may karampatang buwis.

If considered as a payment? Kita parin ba ito although its a form of crypto?

Since wala pa namang concrete rules ang SEC, nasasaatin parin if idedeclare natin sya as kita. Sino ba nman ang gustong mataxan lalo na if its not traceable hindi ba?

[pinoycash]

I consult this thing sa isang retired judge, ang sinagot nya sa akin is ganito.. as a cryptocurrency wala but kapag ito ay ipinapalit na natin sa peso, this is considered as kita so ito ay may karampatang buwis.

If considered as a payment? Kita parin ba ito although its a form of crypto?

Since wala pa namang concrete rules ang SEC, nasasaatin parin if idedeclare natin sya as kita. Sino ba nman ang gustong mataxan lalo na if its not traceable hindi ba?

It all depends if you will declare your crypto income or not.

With the train law in place you can declare your crypto income annually below 250,000 PHP so it will be tax free you just need to submit your ITR and have it stamp and your good.

[cydrix]

Pag mag simula ka talaga tiyak may kaltas talaga yan kung sa first transaction mo or bibili ka ng Bitcoin. Example pag bumili ka ng bitcoin in coins.ph(kasi ito ang magandang ginagamit sa pinas ngayon) via 7/11 or gcash tiyak may minus yan pag mag totopup ka palang. Wala pa namang tax and crypto pero may fees tayo pag mag sesend ng pera.

[alisafidel58]

*snip*
If considered as a payment? Kita parin ba ito although its a form of crypto?

Yes, any payment you receive will amount to your earnings. and if you change it to your local currency then tax will occur.

Since wala pa namang concrete rules ang SEC, nasasaatin parin if idedeclare natin sya as kita. Sino ba nman ang gustong mataxan lalo na if its not traceable hindi ba?

If its in coins.ph then its traceable to you, as we all know coins.ph has KYC.

*snip*
With the train law in place you can declare your crypto income annually below 250,000 PHP so it will be tax free you just need to submit your ITR and have it stamp and your good.

I still dont know anything about that matter regarding about crypto taxes is included in the train law.

[pinoycash]

I still dont know anything about that matter regarding about crypto taxes is included in the train law.

There's no such thing as Crypto Taxes, Any income whether from cryptocurrency or not we need to declare this to our ITR but due to weak enforcement all Homebase and Freelance workers can get away without paying a single centavo to the government.

If you want to be on the safe side, Declare your income from cryptocurrency but only declare an annual gross income of 250,000 Pesos to enjoy a tax free incentives provided by train law.

Because soon BIR will start cracking down all those homebase workers with unexplained wealth that didnt pay any taxes or submit their yearly ITR. Your deadline is April 15, 2019 for 2018 ITR.

[alisafidel58]

Because soon BIR will start cracking down all those homebase workers with unexplained wealth that didnt pay any taxes or submit their yearly ITR. Your deadline is April 15, 2019 for 2018 ITR.

Thats what ive bee thinking recently, its sooner or later they will have to catch up to us. I may self have an unexplained wealth which my neighbors says "where did he get the money from to buy those things".

Anyways, ill just do what i usually do. Thanks for the heads up.

[pinoycash]

Ang pagwowork online ay walang tax ditto sa ating bansa. And it's good to say na wala talaga kaya maganda talaga yung pagwowork online or by  trading. Ang tax nga lang naten ay yung fees sa mga transaction.

Do you have a source to backup your post?

As far as i know, All income above 250,000 PHP whether from Online or Offline traditional job are taxable.

Who are Required to File Income Tax Returns?

Individuals = This is us!
Resident citizens receiving income from sources within or outside the Philippines.

Sources: https://www.bir.gov.ph/index.php/tax-information/income-tax.html

[alisafidel58]

Ang pagwowork online ay walang tax ditto sa ating bansa. And it's good to say na wala talaga kaya maganda talaga yung pagwowork online or by  trading. Ang tax nga lang naten ay yung fees sa mga transaction.

This one made me laugh so much.

English Dictionary 101.

1. Tax = A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

2. Fee = A fee is the price one pays as remuneration for rights or services.


Therefor "Tax" and "Fee" are different, im not underestimating you but please do some research before you post.


A transaction fee that you pay for every single transaction that you did goes through the miners. Its not a tax that our government impose to us.

[pinoyden]

Meron ako news na nadinig about sa online job  . siguro meron na silang rules about taxing pero di siguro included ang crypto related jobs dito kase di naman regulated ang crypto  . ang applicable lang siguro dito ay yung mga nasa free lancing jobs or yung mga online teaching jobs  . uso din kase yun ngayon   .  pero tingin ko pag mag gagamit tayo ng local exchange like coins.ph meron sila tax na charge aside from the fees kase regulated yung mga cash out options na ginagamit doon

[lyks15]

Sa ngayon wala pa pang tax ang cryptocurrency dahil hindi pa naayos ang batas ukol dito. Pero kung iisipin napapatawan na ng malaking tax ang crypto ngayon dahil lahat ng proseso para makapagtransact gamit ang crypto ay may tax kaya apektado tayong gumagamit ng crypto. At sa palagay ko matatagalan pa bago ang regularisasyon at legalisasyon ng crypto dito sa ating bansa dahil maraming proseso ang pagdadaanan nito.

[mirakal]

~snip~

Correct tax, is different and in crypto, I believe this is not going to be a fixed tax.
It could be like an income tax and we will have a bracket for the amount of income we will earn and with corresponding tax.

We don't have to worry about taxes as it's not imposed yet or no proper guidelines for this, and maybe income in trading has tax but
I'm just wondering how the income from bounty or signature campaign be treated in taxation.

[Dayan1]

Wala siguro tayung tax, diba may may pag ka anonymous ang identity natin sa crypto world and if ever nanmman na kumita tayu ng malaki tas lagay natin sa coins.ph  nakalagay naman dun halimbawa allowance mo monthly di naman yan pwedeng kunan ng tax eh. Mahirap yan ma trace kung sino nga dapat patawan ng tax.

[Carrelmae10]

..wala namang ilegal sa ginagawa natin..tyaka hindi pa fully recognize na asset ang Bitcoin..not unless dineclare mo sa SALN (Statement of Assets and Liabilities) mo yung mga naipundar mo using crypto and Bitcoin,,tas nagdeclare ka na ang annual salary mo is more than a million,then hindi ka nagbabayad ng tax,,dun ka makakasuhan ng tax evasion..kung tutuusin,,maswerte nga tayong mga pilipino kasi hindi pa ganun kahigpit ang gobyerno natin pagdating sa crypto holdings natin,,kaya malaya pa tayong itago ang kinikita natin sa gobyerno,,but if it will come to time na madeclare na legal ang crypto sating bansa at kailangan nang magbayad ng  tax ang mga kumikita dito,,then,,that is the time na obligue na tayong magbayad ng tax natin sa mga crypto holdings natin..