Please DON'T pay any taxes on your crypto!

[xWolfx]

Actually they don't have the right to collect crypto taxes like that, because they have no rights in crypto settings. As we all know that crypto is a decentralized currency which means it has no center, everyone is free to trade it and they have full rights

Governments have the right to collect taxes for every transaction done with companies located inside their territory my friend.

In fact, trying to deny that due to greed is only trying to deny the possibility of mass Bitcoin adoption in the future and because of that limit it's potential exponentially.

It's pretty simple, the more places that accept Bitcoin as payment along the years the more real it will look for the people.

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[1715022854]

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[bitbunnny]

I think that ignorancy and lack of information are the main problems here, as always, and not cryptocurrency taxation.
As far as I'm aware tax is paid on transactions, which is quite all right if you ask me and not on holding Bitcoin or other cryptocurrencies itself. Besides to pay tax on coins in your wallet authorities would first need to have insight in your wallet and that is not the case. So don't spread fake news.

[drumamat]

Everyone wants to make money and the state is no exception in this matter.As far as I know, at the moment it is actually impossible to tax cryptocurrency holders.And the whole thing is that many countries can not give a clear explanation and definition of cryptocurrency.

[hxtop]

Goverments will force people to pay tax for belongings and it seems that governments are determined to add this list crypto currencies. You may prefer not to pay and take the risk of punisment at a later time but I wouldn't suggest to do that for everyone. Every individual should review his/her own situation and calculate the risks that may occur. What they will do next is their decision.

[allthingsluxury]

This is not good advice.

[tactac]

i don't live in Japan to know for sure but actually everything that i have  read from mid 2017 until today is saying otherwise. meaning whenever you buy anything with bitcoin in Japan then there is no taxes since the government removed it in 2017 and only taxes you when you purchase or sell bitcoin not when you use it as a currency. and that has even created that discounts that the merchants offer when you pay with bitcoin.

You know Japanese tax system very well! And I apologize for my lack of explanation.
Tax abolished against Crypto in 2017 in Japan is consumption tax.Income tax is still taxed.

In Japan, we have to pay income tax in the following cases.
① in case of profit by trading
② in case of profit due to purchase goods by crypto currency
    for example, if you purchase a $ 50 item with 1 BTC purchased by $ 40, it will be taxed for $ 10 margin.
③ in case of profit due to swap cryptocurrency to anothercrypto currency
④ mining
tax rate is 15%～55％！

[Bttzed03]

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

[eternalgloom]

In some countries there are legal ways around paying taxes on your crypto, I'm not even speaking about some legal grey area.
Here in Belgium for example, you don't have to pay taxes if you hold your crypto for more than 1 year.

It's the same for profits made on certain kinds of long-term investments, like investing in the stock market for more than 1 year.

I honestly don't mind paying taxes on cryptocurrency profits, as long as they're fair.

[gabmen]

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

There may come a time when we'll have no choice. You see the trend of exchanges requiring kyc now? It'll be less anonymous and there will be a way for the government to pinpoint you if needed be. Though it'll also be another layer of security. If taxes are going to be used in a progressive way anyways i don't mind paying.

[jabrix]

This thinking is one of the reason why many governments are still against cryptocurrencies. Better keep this advice to yourself, someone in another country might get jail time and penalties for following this

I observe that many countries have not been uniform in implementing cryptocurrency, where each country will look for loopholes to get income such as taxes so that it can be used for development in the country.
When in a country that applies crypto rules strictly, users must obey because that is a rule. If you don't want to follow the rules, it's better not to use crypto.

[DigitalCyberius]

So what I hear you saying is: "Please everyone, pleeeease lie, and on top of morally compromising yourself, also take on the risk of whatever punishment the government may decide to inflict on you for not paying your taxes, if they find out."

No thank you.
Have a good day,
The Cyberius team.

[Ezenwanyi1]

But we all know that collection of taxes from Cryptocurrency holders is a task that is almost impossible, except of course it's to be collected Ted by exchanges.
The reason is that there are no known Cryptocurrency regulatory body and Cryptocurrency is decentralized .
So how will the tax collection be implemented and subsequently executed?

[dablatair]

Hello,

Advicers are not the payer...

Each citizens have to respect their contries laws even if they are silly, unfair, too hard....

Even if theorically they could not access them on wallets, they could legiferate in order to have an obligation to declare and  you have also many people that have coins on exchanges.

As soon as something don't respect it, he could have trouble with justice and I don't think that you will take care of their defense.

Furthermore for the moment it is quite difficult to don't pass by FIAT/bank to spend the benefits in common life.

So give your opinion, give some informations or advice with not but strongly ask to don't respect the laws is really not the good advice.

[pixie85]

So what I hear you saying is: "Please everyone, pleeeease lie, and on top of morally compromising yourself, also take on the risk of whatever punishment the government may decide to inflict on you for not paying your taxes, if they find out."

No thank you.
Have a good day,
The Cyberius team.

Yeah it's a dumb call for theft and immorality.

The government likes to call people who aren't paying taxes thieves because it considers your hard earned money its money.
The taxpayers like to call the government a thief because it takes away money that it did not help earn.

Who in this case is immoral? Is preventing a thief from stealing your money immoral, or maybe by stealing from a thief you also become one?

[benjamin07]

If you don't like the tax laws in your country you can vote with your wallet and move to a different country.  I guess if every country eventually had similar laws you couldn't do much except outright refuse to pay.  I would have no problem paying taxes if the funds weren't used for wars and other evil purposes.

That is the best answer. Gerard De Pardieu the french actor chose to become a Russian citizen just for that reason for example.

If you keep crypto in crypto then no tax applies.

If you transfer from crypto to fiat then capital gains tax rules applies unless you prove it is a Hobby: ask an accountant.

Yes the brave create liberty but also liberty means anarchy and hypocrites want to not pay their $2 tax and want billionaires to become poor overnight by paying all their money in taxes to fund their hobo life style. Paying tax is good it makes the society better.

[Eildosa]

I agree with many people who wrote above that it is not worth the risk. If it is necessary to pay taxes for it, you are obliged to do it to avoid problems. But I understand you. I would also not want to pay taxes for crypto, because I earned it myself, without the help of the state and I want to get the whole amount, without tax. But even if you do not want to, it is better to pay tax and sleep peacefully.

[Indai24]

I agree with many people who wrote above that it is not worth the risk. If it is necessary to pay taxes for it, you are obliged to do it to avoid problems. But I understand you. I would also not want to pay taxes for crypto, because I earned it myself, without the help of the state and I want to get the whole amount, without tax. But even if you do not want to, it is better to pay tax and sleep peacefully.

Exactly, why would we pay taxes for crypto in the very first place? government don't even accept crypto here in my country and taxes are already on top of the merchandise we bought, so for me it's no need.

[MFahad]

I agree with many people who wrote above that it is not worth the risk. If it is necessary to pay taxes for it, you are obliged to do it to avoid problems. But I understand you. I would also not want to pay taxes for crypto, because I earned it myself, without the help of the state and I want to get the whole amount, without tax. But even if you do not want to, it is better to pay tax and sleep peacefully.

Exactly, why would we pay taxes for crypto in the very first place? government don't even accept crypto here in my country and taxes are already on top of the merchandise we bought, so for me it's no need.

Taxation is for the fiat currencies , therefore there is no point for the tax on crypto. No one controls the crypto and no one is responsible for it in case it is hacked etc. When government pay the taxes, they are responsible for the people loss,  how can government control the crypto loss ?
This is the main reason why government is not willing to use bitcoin as a currency.

[lomberer]

For all the fiat exchanges I've encountered, there is a requirement to KYC before you can use them. This is to prevent money laundering and terrorist funding. It allows allows governments to do further data matching towards your tax liabilities in the future. They can backdate it for many years, so even if you've escaped their notice now, it doesn't mean they won't come after you in the future. Unless you're keeping it all and spending it all in Bitcoin or whatever cryptocurrency you've purchased (as it was originally intended for). I personally met one of the barristers representing the tax office for a case like this yesterday.

[Blockchainer06]

Users of encrypted currencies face a problem: previously, when banks and other institutions crossed the border, absolute sovereignty without state intervention prevented them from being protected by the government. But there is a price to be paid for acceptance, which is to hand over a certain degree of privacy and control to the government.

Previously, the government excluded encrypted currency from the definition of currency. The Chilean Internal Revenue Service even abolished the value-added tax on encrypted currency on the grounds that the encrypted currency was "intangible property". But now, this idea has changed, and investors are going to pay taxes.

One of the main concerns of the government is the use of encrypted money for money laundering and crime. But legal currencies are not exempt from this possibility. Why laugh at a hundred steps with fifty steps? At present, the Spanish government has identified 15,000 encrypted currency holders, which are monitored and taxed at the same time.