Get ready for more tax. Save your BTC!

[LeGaulois]

If they raise the Taxes , people will starve , they don't even have enough to eat for the time of quarantine , I do think if they do this then sooner or later people will overthrow the government.
Only rich people should be paying taxes are a time like this , why bother the poor when they are right now living marginally. Government needs to understand that they cannot keep their economy stable after causing harm to the general population.
They need to focus on recovery first , not on the economy , it is important but more important is taking are of the people who elected the government.

And who is to blame if they are poor? Me, the riches, the government, or themselves? They should have considered making a tenth of a child without being able to afford it BEFORE.  But hey! They rely on free money from gov. 12 months per year and who's paying for it?

Poors don't pay taxes, being not eligible by the way, all they do is to suck the money from the government. Can't even find a decent job since most of them have low education.

  bitcoin is a good way to avoid tax too so ur suggestion of keeping btc for use is cool

People want Bitcoin to become legalized and regulated but they don't want to pay any tax (they only accept profits).... the irony...
The same type of people who want a 'Super State' but complaint about taxes thinking it's free to build hospitals, roads, schools

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[Ozero]

Even if there were no problems with the appearance of the coronavirus, anyway, over time, governments would gradually introduce or raise taxes on any activity related to cryptocurrency. States do not need a decentralized cryptocurrency, and one of the effective methods of combating any type of activity objectionable to the state is the establishment or increase of taxes. It has always been so. Especially when it comes to financial activities.
However, cryptocurrency is a special type of financial activity that is not always amenable to direct regulation and control. States are in no hurry while they are studying cryptocurrency.

[BD Money365]

The whole world is now facing corona effect. Every Countries face lockdown, thats why the trade of goods or tourism services to be stopped. People are unemployed due to bankrupt businesses. The United States is print a lot of money to support their people in this economic difficult time.This will conduct to same bright currency inflation in countries with cloudy money-spinning losses. I meditate the authority will not produce taxes as each person cannot earn a large amount currency compared to before.

[CarnagexD]

There is a chance that different country makes a huge or a massive increase of their taxes because we know there are a lot of countries getting affected by this virus and this is not quite good and one of the things they need to do just to recover is the increases of their taxes to the items as by the law of supply and demand there are chances they will do this but still, they need to make a recovery first on their country before they do this because many people getting affected by this because we don't have enough economic growth and recovery. I think even we hold a lot of bitcoin still there are only a few counties and stores only adopt the use of the crypto still we are looking forward to it only. One of the things needs to focus on a single country is to comeback their GDP.

The whole world is now facing corona effect. Every Countries face lockdown, thats why the trade of goods or tourism services to be stopped. People are unemployed due to bankrupt businesses. The United States is print a lot of money to support their people in this economic difficult time.This will conduct to same bright currency inflation in countries with cloudy money-spinning losses. I meditate the authority will not produce taxes as each person cannot earn a large amount currency compared to before.

There is a chance that they will not make it out but I think after a few months they need to rapidly increase their countries earnings and the outcome so they need to adapt like the ideas of the other countries or increase the taxes.

[Natalim]

I meditate the authority will not produce taxes as each person cannot earn a large amount currency compared to before.

They would not do that now, there is a timing for everything and that's definitely after the pandemic.
here's what is happening, now that people are not allowed to run their business, the government will give them the support but in return, the government will have to increase the taxes once the pandemic is over as they have big loses at this time, so we can expect it will certainly happen, this would happen in countries who are affected with the covid-19 heavily.

[carlisle1]

We see it everywhere. To counter that coronavirus disaster, governments are spending money like there's no tomorrow.

Do you think what you says are relevant?Government are spending money because they need to help People because of this virus,i don't know what your mind shits run to you.

In most countries, governments will have no other choice but to raise taxes. They will have to be smart to avoid killing the economy, but they will need to bring more money to balance their budget (or more likely to reduce their operating deficit).

your too early to talk about tomorrow when the problem must be faced today first,mind to make best post than like this?

As I haven't paid any income tax since 1997,

Look how shit you are?not paying any income tax for more than 20 years?you are the one who must be blame for all of this.

[omone1]

My government runs a multiple tax system they have even risen VAT, the government of my nation are a block head looter, unrepentant. After the lockdown I planning to shutdown my office and face proper trading and investment rather than paying huge multiple taxes to reckless government spending.

[BitcoinTurk]

Unfortunately, countries with some economic problems have already started to increase taxes before the pandemic process ends. For example, Turkey in the last 2 weeks into technological products from apparel products to luxury goods made from everyday needs tax increases in everything. People are already in an economically difficult process and cannot find cash. In addition, many people are unemployed and cannot see their future, but despite all this, the government makes the non-people's budget even more difficult with tax increases. Besides, unfortunately, the tax amounts I mentioned are not very low, but there are also absurd tax increases. Let's see what happens to us.

[shield132]

We see it everywhere. To counter that coronavirus disaster, governments are spending money like there's no tomorrow. Budget's deficit will rise to new heights, never seen before except during war times. In US and EU, debts are staggering. The Federal Reserve and the European Central Bank are printing money faster that I'm writing it. If you ask what's next, I'm afraid there's only one answer.

In most countries, governments will have no other choice but to raise taxes. They will have to be smart to avoid killing the economy, but they will need to bring more money to balance their budget (or more likely to reduce their operating deficit).

As I haven't paid any income tax since 1997, that's all right with me, but I urge all fellow Bitcoiners to organize themselves, and to plan ahead to avoid the worst...

Or could I be wrong? There will be no more taxes next year?

Printing money is an escape from bad today but is a way into worse tomorrow. This will really create inflation in countries. In any way, expectation about economic situation is very bad right now and when we add printing money it looks like adding fuel to the fire. Id they raise taxes, then it means business will fail and in this situation economic fall is guaranteed. Right now some business needs support to keep functioning and emploeeys. If you raise taxes, wages should be reduced or even some people will be left without job.
In any way situation is bad and printing money is only a deal for a while. Psychology playes big role in economics too. When someone starts selling something, people follow it in panic. Can say the same on opposite process - buying. So they have to somehow balance situation and slowly and steadily overcome this economic crisis.

[abhiseshakana]

Unfortunately, countries with some economic problems have already started to increase taxes before the pandemic process ends. For example, Turkey in the last 2 weeks into technological products from apparel products to luxury goods made from everyday needs tax increases in everything. People are already in an economically difficult process and cannot find cash. In addition, many people are unemployed and cannot see their future, but despite all this, the government makes the non-people's budget even more difficult with tax increases. Besides, unfortunately, the tax amounts I mentioned are not very low, but there are also absurd tax increases. Let's see what happens to us.

The Turkish government is changing the current tax regime to boost revenue. Increase income tax rates for high-income people and impose new taxes on hotels, impose new taxes on high-value property, to digital service taxes that target OTT (over the top) companies because technological developments allow digital companies to have commercial operations in a country without the presence physical.
https://www.pwc.com.tr/en/hizmetlerimiz/vergi/bultenler/2019/turkey-s-new-tax-measures.html

I think that Turkey is very good at collecting more taxes from those on higher incomes and requiring less than those on lower incomes. The additional tax burden is targeting high-income people who are not overly affected by corona.

But public banks in Turkey also lowered interest rates especially for traders and farmers and the Ministry of Finance also subsidized these loans. With this reduction in interest rates, it aims to reduce the cost of agricultural production. The government also cut interest rates on mortgage loans to revive the property market so that the construction sector and sub-industries also survive.

[Subbir]

The government of every country must reduce this rate of interest Everything is closed. People live in lockdown Office, court, business, trade are all closed. How will they pay this tax to the government? There are many poor people that don't get enough to eat If there's no government tax at this point many will face problems. the govt is imposing VAT on everything and increasing the quantity of tax The epidemic isn't yet fully in check But if we will solve this problem by investing in bitcoin blast to save lots of bitcoin from sitting reception.

[abhiseshakana]

The government of every country must reduce this rate of interest Everything is closed. People live in lockdown Office, court, business, trade are all closed. How will they pay this tax to the government? There are many poor people that don't get enough to eat If there's no government tax at this point many will face problems. the govt is imposing VAT on everything and increasing the quantity of tax The epidemic isn't yet fully in check But if we will solve this problem by investing in bitcoin blast to save lots of bitcoin from sitting reception.

The world and countries will face an economic double shock both on the demand and supply side. Disruption of the global supply chain, social distancing, and smooth flow of cash will affect the supply side. Meanwhile, the threat of a wave of layoffs and reduced daily income affects the demand side.

Expansive fiscal policy is often an option taken by many countries when facing a corona pandemic. Great shopping and relaxation tax collection are the main moves. In a pandemic condition, the tax sector will be hit hard, namely, an economic slowdown that reduces the tax base and tax expenditure will be disbursed. Steps taken by the government in the short term will affect the medium-long term fiscal posture. Relaxation now may have an impact on excessive collection in the future.

One that needs to be anticipated is the tax authority's strategy to increase compliance. Covid-19 pandemic provides an important lesson for all tax authorities, namely information technology-based tax administration readiness. The use of IT will be developed not only for services and reporting, but also extends to auditing, access, and the use of artificial intelligence. The principle of tax administration based on transparency, efficiency, and real-time will be fully supported by information technology. In addition, trends in strengthening tax authorities, changes in business processes from the ability to access to information processing capabilities, and expansion of the cooperative compliance paradigm are expected to increase to optimize tax compliance due to pressure to overcome deficits and debt, and efforts to maintain economic stability will encourage various changes in tax regulations.

[Twentyonepaylots]

The government of every country must reduce this rate of interest Everything is closed. People live in lockdown Office, court, business, trade are all closed. How will they pay this tax to the government? There are many poor people that don't get enough to eat If there's no government tax at this point many will face problems. the govt is imposing VAT on everything and increasing the quantity of tax The epidemic isn't yet fully in check But if we will solve this problem by investing in bitcoin blast to save lots of bitcoin from sitting reception.

The government should consider the fact that everyone is not doing any thing to get a money, all of us have just what we have saved from working and some relief that is given to us. The government should choose the long road for recovery, they should not impose higher taxes just to recover the losses that they have got in expense of people's hard work money. Tax is progressive but do not increase it by a sudden because of the damage recovery idea.

[whyrqa]

The government of every country must reduce this rate of interest Everything is closed. People live in lockdown Office, court, business, trade are all closed. How will they pay this tax to the government? There are many poor people that don't get enough to eat If there's no government tax at this point many will face problems. the govt is imposing VAT on everything and increasing the quantity of tax The epidemic isn't yet fully in check But if we will solve this problem by investing in bitcoin blast to save lots of bitcoin from sitting reception.

The government should consider the fact that everyone is not doing any thing to get a money, all of us have just what we have saved from working and some relief that is given to us. The government should choose the long road for recovery, they should not impose higher taxes just to recover the losses that they have got in expense of people's hard work money. Tax is progressive but do not increase it by a sudden because of the damage recovery idea.

According to leading economists and financiers of the United States of America, the country should return to strong economic performance after a few months.  That is how much the US economy will need to return to its initial levels before the coronavirus pandemic.  The media stated that the US Senate passed a bill where $ 2.5 billion is allocated to support the economy, and the US Treasury is planning to pay about $ 2 billion for small businesses that suffer from the coronavirus pandemic.  That's just filling the budget is probably happening at the expense of citizens and it seems to me that the main burden will fall on the shoulders of ordinary taxpayers.

[Vishnu.Reang]

I don't understand this "governments will have no other choice but to raise taxes" argument.

It is just another excuse to tax us to death. If the government is facing a shortage of funds, then they should reduce their expenditure. A lot of the government expenses are directed towards wasteful spending. The solution is to reduce such expenditure and not to go after hard working people. We are already over-taxed. It is not possible to feed the government machinery anymore.

[Findingnemo]

I don't understand this "governments will have no other choice but to raise taxes" argument.

It is just another excuse to tax us to death. If the government is facing a shortage of funds, then they should reduce their expenditure. A lot of the government expenses are directed towards wasteful spending. The solution is to reduce such expenditure and not to go after hard working people. We are already over-taxed. It is not possible to feed the government machinery anymore.

But no government I going to do that, they will ask their people to balance their economy by paying all the money that everyone can earn.So we are just a slave to our country to be honest.I feel the old age or even stone age is better than the modern world.

[NavI_027]

Well, I guess there's a silver lining of being not yet employed because there is no taxes that I need to pay . Plus, there is no concrete regulation with regards to crypro earnings here in our country so I can freely enjoy all of my btc savings without any major deductions. However, I make sure that I will not feel comfortable and do unwise spendings. I just continue saving money to have a reserve in this crisis times.

[FanEagle]

You would think that it is aiming at the higher people but the reality is that the difference between "middle class" in turkey and poor people are getting closing and closing more because it hits the middle class more than the rich people.

Stuff like iphones or new playstation or whatever increasing is not "aiming at rich", sure it is not new tax on potato, sure it is not for bread, I mean if we are talking about just the survival stuff, the taxes staying same there, and if we are talking about "luxury" stuff as iphones, then yeah we can say that they are doing taxes well.

However I believe regular life stuff should not really be that high taxed, cars, houses, those are already taxed high, maybe increase the taxes on houses over 1 million dollars a lot more, maybe yacths, maybe give the super rich people some more income tax when it reaches over 10 million revenue per month. When you do tax a playstation, that can't be considered high end luxury, that is just middle class, even some poor people have it these days.

[freedomgo]

Well, I guess there's a silver lining of being not yet employed because there is no taxes that I need to pay . Plus, there is no concrete regulation with regards to crypro earnings here in our country so I can freely enjoy all of my btc savings without any major deductions. However, I make sure that I will not feel comfortable and do unwise spendings. I just continue saving money to have a reserve in this crisis times.

That's right, that's why hold crypto as your investment in the future because price might increase significantly as the demand increases.
We are in crisis right now, and that will affect the future value of our fiat, if you put money in the bank, it will just be hit by inflation because tax will certain increase for the government to get what they spend in this crisis, for now,  I can think of working is just to at least get some alternative of income and to be able to build a credit line since you can't borrow money from the bank if you don't have a legitimate income.

[silversurfer1958]

I think that during the global economic downturn due to the current COVID-19 epidemic, many large and small businesses have difficulties in doing business, workers are unemployed. The government will not raise taxes on people or businesses because this measure will make the economy worse. The government is printing a lot of money to support people and businesses in this difficult time. But printing too much money will lead to inflation and the price of goods will rise sharply.