Taxes on Bitcoins: Unreasonable or essential?

[fiulpro]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

[1714934572]

1714934572

[1714934572]

1714934572

[1714934572]

1714934572

[dothebeats]

It's unreasonable, yes, but there really isn't something that people can't do about it. For as long as bitcoin can be traded to cash and people are profiting from it, there's always the government wanting to get nosey on everything and will take a share of the pie for your 'patriotic contribution and duty' to your country. And as governments are becoming aware of the possibilities that one can take from bitcoin, expect that they will also do anything in order to get something out of it--be it in the form of tax, services, contributions or whatever the hell they want to call it.

I guess I'm still lucky that the Philippines does necessitate its citizens to declare their crypto gains for tax purposes, but I'm sure exchanges based here are already doing their part to keep track of it should the need for taxation arise.

[LFC_Bitcoin]

I’m going to be bias and say that I don’t think taxes should be so high on bitcoin. I’m living in the UK & have done since birth, I bought a lot of my bitcoin’s for under $400 - $500 & I’ve HODLED for many years. When the time comes that I decide to sell I will owe the UK government 20% in Capital Gains Tax. This pisses me off immensely, I bought bitcoin when it was relatively in its infancy so why should I have to pay such taxes? It was a massive risk, almost gambling which by the way isn’t taxed in the UK.

I expect to be cashing in millions of pounds worth of bitcoin in the next few years so I’m going to end up paying a shit tonne of fucking tax. If the UK Gov raise Capital Gains Tax higher than 20% to pay for this damn Corona Virus & the havoc it’s wreaked on the economy I’m emigrating

Any hot girls from the countries you posted want to marry me so I can get citizenship?

[Artemis3]

It is nonsensical in many ways, but people cannot help but try to apply what they know to the new thing they don't.

Are you going to tax bitcoin? in bitcoin, or a fiat equivalent? At what rate? Are you taxing all the little altcoins too? at what rate?

What exactly are you taxing? Someone's wallet? Whatever enters that wallet? What it people just keep undeclared wallets?

Bitcoin is not moving in and out of your country (actually it is, but ALL of it, all the time, as long as nodes exist within).

Its not like people actually send coins from country a to country b, its easier to visualize that way because its what we are used to, but actually...
User from country a hands the keys to control certain coins to user in country b.

I think if they stick to VAT, it might be doable. Then you can go and audit the merchant on things or services that are actually sold. But any other taxation is entirely voluntary, even if they make a law so its compulsory, in reality it will always be voluntary.

Pretty much unenforceable.

[Sayma83]

It's irrational, truly! however there truly isn't something that individuals can't do about it. For whatever length of time that bitcoin can be exchanged to money and individuals are benefitting from it, there's consistently the administration needing to get nosey on everything and will take a portion of the pie for your energetic commitment and obligation to your nation. What's more, as governments are getting mindful of the potential outcomes that one can take from bitcoin expect that they will likewise do anything so as to receive something in return be it as assessment, administrations, commitments or whatever the damnation they need to call it. So it is jast my opinion with suggestion so all the best for crypto usersBTC 

[coupable]

With capitalist govs, everything is taxable even the money you win in gambling or contests. If bitcoin is legalised in such a country, then it will be taxable.
I am from a third world country, and fortunetly our gov doesn't yet take attention about crypto taxation as bitcoin is not yet legalised but the crypto community is in huge growth and recently the representative of the central bank talked about encouraging digital paiement methods (due to covid crisis) including bitcoin and that they are working on laws to manage this. Laws means taxation of course.
I can tell it's an absolute nonsense as we are still governed even by choosing anonymity. Sad but true .

[Kakmakr]

I can only speak for my country... here the government adds VAT on every Bitcoin payment you make, because you used it as a currency. Also, if you used it as a commodity ...you have to pay Capital Gains taxes on your profits. So you asking if this is unreasonable for a country to charge VAT or Capital Gains taxes on something that is used as a currency or a commodity... I say ….No.  

In some countries they add a few percentages of taxes on Capital Gains for everything to do with Crypto currencies and I then have to agree with you that it is unreasonable then.  

We (Crypto currency owners) wants no special treatment, because we want the government to handle this as they would with any other currency or commodity.  

[Sadlife]

In order for Bitcoin to be globally adopted governments should gain revenue for example tax it is necessary for a country to function that helps the people with their programs and to build roads or buildings etc. That can be beneficial for its citizens.
So i agree that Bitcoin should be taxable and it is pseudo-anonymous which is traceable in every transaction that identifies the sender and receiver.

[ragavancoin]

It might be any country tax should be reasonable on bitcoin, but government does not do it. Because of coronavirus they might even increase the tax. There should be a proper rule.

In India bitcoins are gradually picking up, hope that government will notify soon the taxation of around the legality of Bitcoin and disclosure requirements and their taxability.

[ranochigo]

Taxes are pretty essential for any country but having anything more than 10%, IMO is too much. Is there any legistation regarding the tax in the countries? If its specifically directed towards crypto, then it's just trying to discourage people from using Bitcoin. Capital gain tax is pretty common among most countries and if the taxes is counted as a capital gain tax, then it's alright.

Bitcoin is a commodity and should be treated as such. Having a high capital gain tax is a whole other issue altogether, since it applies to things like capital gains from property, stocks etc.

[Darker45]

20-30% for tax is very high, but if that is the same tax rate that is imposed on fiat-based income or gains, then there is probably nothing to contest.

I think taxing Bitcoin is somehow necessary as taxing fiat. Both are currencies, after all. But if you used an already-taxed fiat in order to buy Bitcoin, and then another round of tax obligations are imposed on your Bitcoin holdings, you are already taxed double. And, worse, by the time you sell your Bitcoins-- if you prefer to spend them in fiat-- you will again be imposed with a double-figure capital gains tax. In which case, you are already being abused.

Well, with Bitcoin, anyone can easily circumvent tax obligations.  

[AniviaBtc]

With capitalist govs, everything is taxable even the money you win in gambling or contests. If bitcoin is legalised in such a country, then it will be taxable.
I am from a third world country, and fortunetly our gov doesn't yet take attention about crypto taxation as bitcoin is not yet legalised but the crypto community is in huge growth and recently the representative of the central bank talked about encouraging digital paiement methods (due to covid crisis) including bitcoin and that they are working on laws to manage this. Laws means taxation of course.
I can tell it's an absolute nonsense as we are still governed even by choosing anonymity. Sad but true .

Taxes are normal because it will help the government or the blockchain system to sustain itself so that it will not have a hard time maintaining its condition.

"In this world, nothing can be said to be certain, except death and taxes" - Benjamin Franklin

That's where the government are benefiting, it collect taxes so that it can improve its service and manipulation in the market with the help of the taxes of every people that are accessing cryptocurrency in their transactions.
Hopefully, the bitcoin will become allowed to most of the countries for them to understand its importance and how can the government get a benefit to that to engage with an economic growth.

Laws are important to help the government to become properly regulated in the market and economy, because there are some governments who are taking advantage of the taxes that it becomes unreasonable enough for the people to experience that.

[Kemarit]

I think it's inevitable, although we really hate government for imposing tax on Bitcoin, sooner or later we are going to be a target so we can't do anything about it. And we have seen in the last couple of years that regulations are being put forward on crypto, so most likely we will see taxation will be mandatory.

At least though, here in my country we still haven't been tax yet because it is not yet well-know although local exchanges are very strict as far as KYC/AML. Similar threads here, Bitcoin and tax in your countries.

[jossiel]

IMO, there's no need to tax for just having it. The holders took a lot of patience holding it until the price matters and then they'll step in just to tax with an unreasonable percentage? that's too much.

I think once you spend your bitcoin or pay for something, there goes the taxation and it should be the one who gained it. The value is being passed to the receiver which should I think the one that must be responsible to have the tax but, there goes the idea of being unfair because we might be the sender today but becomes the receiver tomorrow.

[pooya87]

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

it depends on the country and what they are taxing, you can't tax bitcoin. but you can tax miners, traders, merchants,... and it is all reasonable in my opinion but taxing people for using bitcoin as a currency is not since it would be like taxing them if they used another fiat instead of the local fiat currency. not to mention that some developed countries are already taking this route like Japan.

if you compare each case with similar real world cases you can see that for example a miner is earning money like any other business, like a gold miner and has to be taxed, a bitcoin trader is also making money like any other trader such as a stock trader so similarly they have to be taxed, same with merchants.

[webtricks]

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

Since, you gave the example of India so I would like to clear few things:

Number 1, no tax on holding or buying Bitcoin is levied in India. The tax is only levied when you sell Bitcoins for Indian Rupees (i.e. local currency of India) and have either made profit (if bought Bitcoins) or made income (if received Bitcoins as payment).

Number 2, 20-30% taxes aren't unique to Bitcoin. These rates are common for all types of incomes in India. Also 30% is only levied on the income over 1M INR. If your earnings are lower than 1M (no matter if the source of income is Bitcoin or other), you have to pay taxes at lower rates.

Number 3, There are no laws related to Bitcoin and its taxable treatment in India so far.

For complete details, I would suggest to have a look on this thread of mine: https://bitcointalk.org/index.php?topic=5206607.0

[slackovic]

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

it depends on the country and what they are taxing, you can't tax bitcoin. but you can tax miners, traders, merchants,... and it is all reasonable in my opinion but taxing people for using bitcoin as a currency is not since it would be like taxing them if they used another fiat instead of the local fiat currency. not to mention that some developed countries are already taking this route like Japan.

if you compare each case with similar real world cases you can see that for example a miner is earning money like any other business, like a gold miner and has to be taxed, a bitcoin trader is also making money like any other trader such as a stock trader so similarly they have to be taxed, same with merchants.

They don't have to be taxed, but it can be seen as reasonable that people that earn money by using Bitcoin gets taxed. For example, you have countries like Germany who don't tax people that earn money on trading Bitcoin if they kept it in a wallet for over a year.
I think we can all agree that governments will always look how to take their "piece of a cake", but countries like Germany are good example how some governments don't just take everything they can from their people. You give some, you take some and everyone is happy

[DoublerHunter]

^ It is not uncommon to have a tax on the existence of bitcoin. But let's take a look at bitcoin's existence and make money using bitcoin. As with most, gold traders pay taxes to the government because they earn money by selling gold, just like entrepreneurs who also pay taxes to the government. In my opinion it is only right that bitcoin users have a tax. But it still depends on the country and the government they have for using and making money in bitcoin, as there are still countries today that do not solicit tax on bitcoin users. Nevertheless, bitcoin users can actually be taxed, but that should not be as high as the tax that is available to all bitcoin users. 

[vapourminer]

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

in the usa if you make a profit in any form, you pay taxes on it.

buy a coin for $10,000, sell for $20,000. pay taxes on the difference.. so $10,000 would be taxed. capitol gains if held more than a year. regular income if less.

dunno bout you but i smile when paying taxes (however i may not approve of how its spent amd given away.. thats another story though) because after all i made money . dont want to pay taxes? dont make money. simple.

i may be off a bit on the terminology though.

[kryptqnick]

One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate, in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

First, not every government tracks people who use BTC. I'm sure my country is not an exception, and our government doesn't care about this at all. Now, regarding the main question. I think that taxes are a good way for the state to get money that can be then used to make things better. However, I believe in cryptos as money and thus find it unfair that cryptos are taxed as if they were assets or property. I think the only tax that makes sense when it comes to cryptos is income tax. And it should be progressive with people earning small amounts being tax-exempt. This would be fair and useful, but overly high taxation is extremely unfair.

[coolcoinz]

IMO all income taxes are unreasonable, but in case of Bitcoin there's so many ways it can be done that it's hard to say whether we should accept it otr not.
To give you an example, although I don't approve of taxation, I'd be able to accept it if it stayed below 20% and only concerned the income converted to fiat.
Taxing the coins that were never converted and are held in a wallet all the time is certainly unreasonable and unfair.

[Debonaire217]

I am no really aware that I pay taxes when using bitcoin especially if I am using my ledger for transactions. I just think that the only receiver of transaction fees are the miners and there's no other entities that will receive it. But in terms of buying items online, that makes me wonder how taxes are being managed by our government.

I am not sure if they utilize the taxes right when we converted fiats to bitcoin and vise versa, or they utilize it when we made transactions. Is that possible? Maybe through local exchange but I don't think they can deduct some amounts from every transaction as they need to access the bitcoin blockchain if I am not mistaken.

[DdmrDdmr]

In Spain, the time is ripe now to settle with Hacienda (the equivalent of the IRS) last year’s earnings, and yet there is no current exhaustive (considering all sort of scenarios) crystal clear set of taxation rules to apply. Nevertheless, the following explicit scenarios are depicted:
 
- People that have sold cryptocurrencies (liquidated them into FIAT).

- Exchange of one cryptocurrency for another.

- Mining.

- Additionally, and this is pretty wild, anyone in possession of cryptocurrencies should inform Hacienda, and declare the amounts they possess of each kind. This is of a (mandatory) informative nature, not subject to tax (I think there are some implications if the value is high though).

The tax percentage to apply on sale’s benefits, ranges between 19% and 23% (depending on the benefit quantity).

Having said that, my perception is that people will tend to mainly only come clear if they are "warned" by Hacienda: Over the last two years, Hacienda has been notifying targeted citizens that they must come clear with their taxes on crypto, since they "know" that they have operated with them. This is roughly the message that some people have being seeing when filling-in their yearly tax declaration. Still waiting for a common EU approach on this matter ...

[Haunebu]

I never paid any taxes related to crypto related transactions so far and it will most likely stay that way since my country doesn't really care about such stuff. They focus only on FIAT related taxes which I have paid regularly.

Majority of the world governments have a negative stance towards BTC and crypto in general which is why taxation on crypto is something that they don't bother with. This could change once they accept crypto and regulate it.

[amishmanish]

This is still a very evolving scenario and the question of taxes arises only when it is converted to Fiat. If you want to realize fiat profits like @LFC_Bitcoin and marry a hot woman from some exotic locale, you are taking stake out of bitcoin to put it into the Fiat system. It is only fair that you follow the applicable rules and pay taxes.

On the other hand, if you use your stash to start a business that uses bitcoin and you successfully generate economic activity out of it in terms of BTC as well as Fiat, then the BTC part should not be taxable. If people participating in a small P2P economy choose to use bitcoin, those products and services should not be taxable, having already been taxed when these were taken out of circulation from Fiat. This is a perfectly valid argument for Bitcoiners to deny taxes from their purely P2P economy. This may seem a little far-fetched now but if enough people have this same vision, it could someday become a possibility.

 Ironically, we need to take a leaf out of the communist manifesto but its apt to say, "Bitcoiners of the world, Unite!"

[Lucius]

Personally, it is not surprising to me that in some countries taxes are regulated when it comes to cryptocurrency, and in most other countries it is not or it is quite unclear how to pay taxes. But it would be quite unreasonable to expect governments to give up taxing the profits that come from crypto, although there are examples where this is exactly what happened.

In countries from OP there are certain regulations when it comes to such taxes, but this does not mean that you are completely exempt from paying crypto taxes. Although it is true that in Germany you do not have to pay profit tax if the crypto is sold 1+ year after purchase, on all profits over 600 EUR in the current year the tax must be paid. There is also a law in Croatia similar to Germany, which says that a person does not have to pay any tax if at least 2 years have passed from the day of purchase to the day of sale.

The key thing is that if you make a profit when converting crypto to fiat, and pay that same profit to a bank account, there is no legal basis not to pay taxes, unless it is specifically regulated by law.

[Natalim]

What I know is that crypto are regulated in our country but there is no fix guidelines yet on taxes on bitcoin, I just pay the income tax as a whole.
Seriously, why would we pay if we hold bitcoin, isn't it taxes are only required when we gain from using bitcoin? this is the part that I really want the government should clarify so people will not be mislead and they will do the proper remittance of taxes.

As of now, since there's no clear guideline, I can fully enjoy my earning in bitcoin without liability to the government.

[davis196]

Is it reasonable or government is just trying to make profit out of it ?

Governments aren't making profits out of taxes.All tax revenue goes for healthcare,education,law inforcement,army,administation,etc...
The people can't decide what a "reasonable tax percentage" is.It's normal for the people to want as low taxes as possible,but the people also want great healthcare and education systems,which costs money.
In the countries,where there's no particular cryptocurrency tax imposed,the people are still obligated to pay income tax for their cryptocurrency income.
Bottom line is:We can't avoid taxation by using cryptocurrencies.

[rodskee]

I guess I'm still lucky that the Philippines does necessitate its citizens to declare their crypto gains for tax purposes, but I'm sure exchanges based here are already doing their part to keep track of it should the need for taxation arise.

Maybe So far not yet but sooner for sure there will be if the increase of people happens to be gaining in Crypto specially
 Bitcoin in which the most popular cryptocurrency in Philippines so there
will always a chance that Government will start collecting data about how they can put taxes in this profiteering market,
Let us always remember that Taxation is our obligation being citizen and
 in every amount that we earn the government must take part so let us enjoy our freedom now as in future or maybe
sooner there will be including taxes.

[madhavsinghrajput]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant

Government should and they must as if taxes are not invoked than that will provoke people to do wrong things like making their black money white and all.But Yes reasonable tax rates should be applied. What i think government must implement tax system similar to the  stock market.As these are currency and what system is applied on  people who invest in dollar must be implemented on investment on crypto.

[ultrloa]

If you want to help the government just think that its essential since it could help them to get more funds for economical use but if you think you didn't want it to get implemented since you don't want any cut from your earnings then think about opposing it since this is really negative since we might gonna pay a huges taxes if they can see a good activities happening in this industry.

[gentlemand]

Why the hell should Bitcoin get a pass? Because it's 'special?'

Everyone and everything is special. I've seen people write 'I shouldn't pay any tax because I took a risk' or 'I shouldn't pay any tax because it's on the internet.'

No one else gives a shit about your tale of investing adventure. They pay tax on things they risked their arses on too, often MUCH more risk. You made a profit. Cough up.

Bitcoin in the UK is taxed like every other similar entity - foreign currency, stocks etc. It's dull but that's how I fully expect it to be. If you're lucky enough to live in a place where it's not taxed then good for you and I hope it lasts.

[Fundamentals Of]

You are making money out of Bitcoin or crypto, you need to pay up. That is your responsibility. That is essential from the point of view of the government. You have the right to argue against it though, especially if you cannot see where your taxes go. No healthcare program, no nice roads, no decent public transportation, etc are the main reasons why I hate paying taxes, whether from my Bitcoin or something else.

[tbterryboy]

The government don’t really care, all they need is for you to pay your taxes and nothing more. Some people who are into cryptocurrency are doing it as a way to evade paying their taxes which is illegal. In my country there are no laws yet to regulate cryptocurrency and there are not many people that are making use of Bitcoin and others.

In countries where it’s being regulated, it’s regarded as an asset or property and you will have to be paying taxes for it. And from what I have understood, you don’t pay the taxes when you’re buying Bitcoin, you only pay taxes when you’re selling or using it to buy something online. When we are dealing for bitcoins with fiats then it seems essential to pay taxes and if we make use of bitcoins in complete decentralized way then we may skip the tax part in individual's trade but for shopping using bitcoin kind of things will definitely incur taxes.

[Chris!]

Taxation is theft. End of discussion. You may lock the thread now.

[coolcoinz]

You are making money out of Bitcoin or crypto, you need to pay up. That is your responsibility.

Either this is your sense of humor or you were brainwashed to think you are responsible for the lavish livestyles of your politicians. I hope it's the former.

That is essential from the point of view of the government.

From the point of view of the butcher it's essential that pigs don't try to escape the pen and walk into the slaughterhouse one by one.

You have the right to argue against it though, especially if you cannot see where your taxes go.

Show me a situation where the taxpayer knows exactly where the money goes. I'd like to see such country.
We can only suspect where they're getting money to buy expensive cars, private jets, summer residences, political campaigns, and build war machines worth billions od dollars to later turn them into scrap when they become obsolete.

[20kevin20]

All the rich ones I know don't pay taxes, avoiding them one way or another and yes - legally. I am not against the law (I'm someone out there would've said that), but I think I've had enough of my taxes be used against me.

Our politicians are known to have off-shore accounts where they safely store their wealth without paying a single penny for taxes. So why tax some guy for buying $100 worth of BTC and selling it for $150 then? If someone considers they have to reward somebody for the money they've earned, then they should be free to give away money to the state or whoever else. But if the rich have the advantage and opportunity of knowing the right persons to teach them how to make moves not to pay taxes, then don't tax the poor who don't have the same opportunity.

[shield132]

In overall, some countries don't set taxes on bitcoin and argument is following (I asked this question to one person who works in Ministry of Finance): We don't admit bitcoin as a currency cause it's basically a file  and during mining, mining equipments solve complex computational math problems.
Idk if this sounds curious for you but another proposal was that let people earn some money without taxes, country in this case is - Georgia.

Personally I am against how governments set taxes on everything. Reality is following:
1. Company is registered and does some job = paying taxes. (100$) (rate 20%)
2. I get salary = paying taxes. (80$) (rate 20%)
3. I buy something from store = paying taxes. (price + 20%)

Triple taxation here. And sometimes you have to pay fee again when you sell something that you bought (3rd taxes from example + 4th taxes).
How fair is it? Taxes should be done on one thing, for example on my salary and once it's taxed, then I don't have to pay additional taxes on products from supermarket and etc, cause finally what's left is given above.

[suvo05]

All the rich ones I know don't pay taxes, avoiding them one way or another and yes - legally. I am not against the law (I'm someone out there would've said that), but I think I've had enough of my taxes be used against me.

Our politicians are known to have off-shore accounts where they safely store their wealth without paying a single penny for taxes. So why tax some guy for buying $100 worth of BTC and selling it for $150 then? If someone considers they have to reward somebody for the money they've earned, then they should be free to give away money to the state or whoever else. But if the rich have the advantage and opportunity of knowing the right persons to teach them how to make moves not to pay taxes, then don't tax the poor who don't have the same opportunity.

I think it is absolutely essential. We want bitcoin to be a globally accepted currency. Currently, many Gov still looks bitcoin as a threat to their countries economy a tax system on BTC will change the view of Gov regarding BTC. But the tax should not be too high to discourage people to use BTC.

In the poor countries only a handful of people holds major amount of money. If those people convert their money in BTC then the economy of the country highly affected.

[lumeire]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

Taxation on Bitcoins is essential for promoting Bitcoins and their use either as an investment or as a currency. As government holds an account of all the various amounts of tax collected from a sector and then they also give benefits to the people in those sectors depending upon the tax they collect. So if they collect huge taxes from bitcoins industry then they will most probably have more attention towards it which can be good for the future of Crypto itself.

[20kevin20]

We want bitcoin to be a globally accepted currency.

Open your eyes wide, it'll never be a globally accepted currency. At least not at the level we'd want it to be.

If governments did want Bitcoin to thrive and not be a threat to them, they would've regulated it from the start. How? Well, it could initially be regulated, at least temporarily, a similar way gold is. That doesn't mean we have to call it a precious digital metal nor does it mean it's a safe haven - it's just a way BTC would be regulated.

Still, the thing is that I'm not fine with taxation on many things, not only BTC or Gold. In fact, in some countries if you hold Bitcoin or Gold for >1yr, it becomes tax-extempt and their economy status is very well.

But somehow a large door of interpretation about cryptos has been left open in lots of countries. Could be the disinterest of them in cryptocurrencies or the fact that they're still working on a perfect regulation for them.

[verita1]

I disagree that the government imposes high taxes on the use of Bitcoin.
If precisely because the world's governments have not met the needs of their citizens for the use of money and that it is available to everyone, it is that bitcoin has been born.
I am a little jealous to see that governments want to take over Bitcoin and that their citizens pay for it.

In my country Venezuela has not been implemented but there is talk of a (5%) and a maximum of twenty-five percent (25%) to the goods and services paid for in Bitcoin and cryptocurrencies.

[arwin100]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

Taxation on Bitcoins is essential for promoting Bitcoins and their use either as an investment or as a currency. As government holds an account of all the various amounts of tax collected from a sector and then they also give benefits to the people in those sectors depending upon the tax they collect. So if they collect huge taxes from bitcoins industry then they will most probably have more attention towards it which can be good for the future of Crypto itself.

Most of the people want to use bitcoins because it is tax free and decentralized. Although government will love to tax on bitcoin too and make it centralize but I don't think people will agree to it. People need financial freedom and therefore they use bitcoins because it is decentralized currency.

If the government will create a law regarding on mandatory taxes of all digital assets including the cryptocurrency then all of cannot do nothing with it even if you like it or not, But I think this is good since by implementing that for sure they will look on cryptocurrency and monitor the movement of it for sure in future we will see a legal adoption as well the market will wide since it will be accepted on merchants.

[Oasisman]

I feel like taxation on Bitcoin is going to happen inevitably, its just a matter of when

"Inevitably", yes!. Why? Because Bitcoin has been talked a lot and was dragged down to some controversial scamming events, where some of the layman misunderstood how Bitcoin works and thought Bitcoin itself is a scam.
I won't be surprised if one day here in my country, they will officially tax crypto traders. Some countries have been exercising regular taxations involving cryptocurrency, but time comes when crypto will be regularly taxed globally.

[Leviathan.007]

Unreasonable! The reason why many people use Bitcoins instead of fiat is sometimes because they don't need to pay any tax for it. Because, governments can't control over it. In my own idea it's unreasonable. Because, we do the trades and earnings of out our hard works and government is not involved on it. I'm a hundred percent disagree with paying tax for Bitcoins or governments controlling and tracking it in any any.

[billykannithi]

In my opinion, cryptocurrencies are one thing that will oppose the interests of the government, so it's common for cryptocurrencies to become popular, or to replace currencies. That's why governments find ways to limit its expansion by banning cryptocurrency trading, or collecting taxes ... The reason I say that is because the mission of cryptocurrencies is to replace With the current monetary policy, payment is made easier, more convenient and more fair. But you think, we live in a world where power is in the hands of those who hold much wealth. A strong nation is a country that holds the right to issue and control its currency. So how can cryptocurrencies - born with the mission of replacing currencies, decentralization, fairness, transparency ... become popular? Therefore, the government will find ways to prevent its development by prohibiting, collecting fees ...

[TheUltraElite]

Any hot girls from the countries you posted want to marry me so I can get citizenship?

Slow down cowboy

You have to see two sides of this system. One where tax evaders are trying to use bitcoin as a safe haven to save themselves from getting taxed due to their big income figures and another where normal law abiding citizens are using crypto for daily purposes.

Problem arises because taxation is the income for the state. Every government has this treasury system to fund government sectors. So taxation is a necessary evil. Now if people who are using bitcoin try to evade it too much then the government having a problem. It does not mean that bitcoin users are getting rich, but it is the opposite because essential services are going to go down for them.

So I think a taxation system should be there and a balance needs to be present, but I have no idea as to how it will be regulated.

The answer to any such problem is a compromise and not a simple yes or no. People know this but they fail to accept it because of their ego.

[Latviand]

Well, I don't say it was essential in today's current position but when the time comes that Bitcoin will be accepted worldwide, I don't think we can escape from that especially when the government is pursuing such mater. Unless, if we never declare it.
For me, I'm not afraid of taxes. What I worried about is how the authorities govern during the collection.

It is somehow essential and reasonable at the same time.

Essential: Bitcoin are the most used and popular cryptocurrency in the world, and we all know that many people are relying on its volatility for them to have a lot of profit. But bitcoin being a decentralized coin, the government should benefit of the things that you're using. They want to collect some part of the cryptocurrency for the economic purposes and to have a stable budget. Especially during this pandemic, the government really needs a budget to help other people sustain their needs.

Unreasonable: Yes, because sometimes the fees are higher than you can imagine and there are people who are just relying in bitcoin and the fees can make it lesser. The government should understand that they need to make reasonable rate of fees so that all of us will become comfortable.

[MCobian]

Of course this is really an unreasonable tax price if applied 20-30%, in my opinion the tax for bitcoin is just 2-3%. Because of investment
in bitcoin the risk is very high, if burdened by the government with high taxes will certainly make many investors feel heavy. Luckily in my
country bitcoin doesn't need to pay taxes, it's only required to pay $ 2 each time cashout becomes fiat.

[Wexnident]

It's not to the point of it being essential, but it's not like we can run from it. Under the words of patriotism, most of us would be pressured by those in power to pay taxes, whether it be BTC or Fiat. Ofc, an unreasonable amount of tax is something that most of us would not agree, which is of course natural. But I doubt there's a need to separate the tax of Fiat and BTC, just make them similar. It's like how no matter whether you pay with BTC or Fiat, the price you pay would still the same, in which that price is already taxed, that kind of idea. If there was a separate tax for the usage of BTC though, that would be quite bs already imo. Absolutely no need for that, and it's not like they'd be able to actually see who transacts who after all. That is, unless, they go control freak like China here.

I personally believe that bitcoins or any other crypto's should not be taxed at this moment.
Maybe only when and if crypto's start taking over real-life currencies and making them obsolete.

It wouldn't take over it. It could reach the same level, but they'd be living in a side by side relationship, with both of them not really fighting over anything. Probably the same reason why I said that the tax of BTC should just be the same with fiat I suppose.

[Reatim]

For us, as users of cryptocurrencies, this is certainly unpleasant, but it is quite logical for the government to tax what brings income to citizens and what these citizens own.

At least you understand the Government position because there are profiteering in Bitcoin thats why there must be a tax allocation but what if time comes that Bitcoin is already a monetary?i mean Bitcoin becomes the main currency of the world,do government will need taxation?this will be unfair because why not Put tax in Fiat if they can apply that to bitcoin?

But for fairness of all?i think Tax is need to be taken from those Investors and traders and not for those people that uses this coins in their transactions daily(though i think this is hard to implement) bu that is the best way for the government to profit and also for the people to use as legal tender or a profiteering material.

[Sanugarid]

For us, as users of cryptocurrencies, this is certainly unpleasant, but it is quite logical for the government to tax what brings income to citizens and what these citizens own.

At least you understand the Government position because there are profiteering in Bitcoin thats why there must be a tax allocation but what if time comes that Bitcoin is already a monetary?i mean Bitcoin becomes the main currency of the world,do government will need taxation?this will be unfair because why not Put tax in Fiat if they can apply that to bitcoin?

I also understand what the government is trying to say for every one that is dealing with cryptocurrencies, of course there is an income with dealing crypto however I don't think of any way that they can impose tax on it like in what percentage? because the cryptocurrencies has a high volatility rate, I don't think they would tax you every time that the cryptocurrencies how about when it goes down? How are we going to run after the tax that we paid?   Just think about that

But for fairness of all?i think Tax is need to be taken from those Investors and traders and not for those people that uses this coins in their transactions daily(though i think this is hard to implement) bu that is the best way for the government to profit and also for the people to use as legal tender or a profiteering material.

What I can suggest for the government is to develop a system where the investor and trader that is subject for taxation will going to benefit, better if secured in terms of any thing that they could come up that will give the investors and trader a fair look at the taxes. It is not enough to tax the crypto because they said so, put a law and tax it? don't kid.

[whyrqa]

But for fairness of all?i think Tax is need to be taken from those Investors and traders and not for those people that uses this coins in their transactions daily(though i think this is hard to implement) bu that is the best way for the government to profit and also for the people to use as legal tender or a profiteering material.

What I can suggest for the government is to develop a system where the investor and trader that is subject for taxation will going to benefit, better if secured in terms of any thing that they could come up that will give the investors and trader a fair look at the taxes. It is not enough to tax the crypto because they said so, put a law and tax it? don't kid.

It seems to me that every government on any other side will solve this problem in its own way, but it seems to me that the owner of the cryptocurrency should have the same rights as the owner of any other value. In addition, if we take into account the taxation of traders, then in my opinion the tax should be paid by the cryptocurrency exchange, and the trader pays interest for the exchange. In addition, one must take into account the fact that the sale and purchase of cryptocurrency can be carried out without intermediaries, that is, without cryptocurrency exchanges. but nevertheless, the transaction must be officially executed, with the appropriate document. And if the transaction is conducted by a public or private notary, then in this case, you can not do without tax.

[Zionatin]

You can't tax bitcoin. It's not government issues and has nothing to do with the government. If the government wants us to pay tax in bitcoin then they should start using it as well. But they won't because it is too easy to trace and thus easy to trace back to their corruption and ill spending of taxpayers money. I love when anti bitcoin people say bitcoin users do tax evasion meanwhile its the best method to avoid government fraud.

[NorrisK]

In The Netherlands you are currently paying taxes in the same way you would when you would hold an equivalent in euros. Result is that any amount above 30k euro value (this includes all your euros, regular stocks and crypto).

Below the line you pay for the first 70k above 30k 0.54% tax, then for the next 930k you pay 1.26% and anything above 1M euro value you pay 1.58% tax.

Sounds reasonable to me, mostly because it is similar to how euro holdings are handled.

[kecha1]

Perhaps this is the right decision. Maybe.

[hassancisse]

to me its unreasonable because whats the whole point of decentralization when the government tax bitcoin. I am invested in bitcoin because of the whole idea of decentralization and i know that it cant be taxed by the government

[Sadlife]

I think its necessary if other countries where to totally accept Bitcoin like Zimbabwe and Venezuela that they've made it their local currency due to hyperinflation then taxes is necessary for a country to progress and in order to support their citizens.

[awwal1206]

its purely unreasonable! one of the main reasons people use bitcoin instead of fiat is to do without payment of taxes and there's no point of decentralization if the government can put tax on bitcoin.

[salamat700]

Well, there is nothing we can do about taxes since it is always in the power of the government to levy such a thing. Now, in cases where people feel that the rate and implementation of specific tax laws can be burdensome then maybe the best thing to do is to advocate for it to be more rational and fair. As long as we are conducting business and much more if we are making money, the governmental machine can be upon us. I am still thanking the heavens that I am in a country where tax laws are not that so strict and the government has not been flexing its muscle on cryptocurrency business.

[Twinkledoe]

Well, there is nothing we can do about taxes since it is always in the power of the government to levy such a thing. Now, in cases where people feel that the rate and implementation of specific tax laws can be burdensome then maybe the best thing to do is to advocate for it to be more rational and fair. As long as we are conducting business and much more if we are making money, the governmental machine can be upon us. I am still thanking the heavens that I am in a country where tax laws are not that so strict and the government has not been flexing its muscle on cryptocurrency business.

Same here. Let's enjoy these moments that the government has not found a way yet how to put taxes on crypto transactions. But I think in some way, the government is already getting a bit from our local fiat conversion because those local crypto exchanges are paying taxes for sure. The reason why their rate is relatively lower than the global market. So even if they say we are not paying any, they already compensate such fees by giving us lower conversion rates.

[Lorence.xD]

Well, there is nothing we can do about taxes since it is always in the power of the government to levy such a thing. Now, in cases where people feel that the rate and implementation of specific tax laws can be burdensome then maybe the best thing to do is to advocate for it to be more rational and fair. As long as we are conducting business and much more if we are making money, the governmental machine can be upon us. I am still thanking the heavens that I am in a country where tax laws are not that so strict and the government has not been flexing its muscle on cryptocurrency business.

Taxes has been a way for citizens to contribute to the development of their country and I think taxation is reasonable thing if bitcoin is to be pushed into further development. In my opinion, there are no other way for bitcoin to be injected into mainstream circulation if they are not willing to do this faustian bargain, retracting from it would result as a lose because a government is also the authority and they can ban the use of this because they are not benefitting from it. Sometimes it is better if bitcoin jumps the shark, they made unexpected and impressive results and I think that is worth it.

[TheUltraElite]

its purely unreasonable! one of the main reasons people use bitcoin instead of fiat is to do without payment of taxes and there's no point of decentralization if the government can put tax on bitcoin.

Tax evasion is a illegal thing, firstly. But only applied to the fiat economy for now. Thing is that you have to understand the reason why we have to pay taxes - for the development of the city we live in mainly. However it is not a perfect world so of course the taxation is going into other people' pockets but we are not the jurisdiction to declare whether it is correct or not, since we are citizens.

Bitcoin did not intend on evading taxes though. It was not what was in the ideology. Bitcoin was meant to be decentralized but that does not mean evading taxes. It means that bitcoin does not have any central institution controlling but.

[Debonaire217]

This is the main reason why some countries haven't really advertised the use of bitcoin and cryptocurrency, it is very complicated to tax bitcoin and the most possible way is for the local exchanges to do the work. If most of the transactions will be anonymous and will not be under the local exchange, there will completely no tax needed to be paid which isn't good for the government and eventually for the economy.

For me, I am okay with government taxing bitcoin but only if bitcoin became mainstream transaction medium. Right now, it serves as an alternate option especially for cross border transactions which really costs a very huge transaction fee.

[carlisle1]

Sad to now but only with taxation we will have real adoption and legalization

there is no need to be sad when we are earning in crypto so it is our obligation to pay for taxes because what we are doing now is not helping the government and if this indeed then Don't expect any support from the government and instead expect banning or regulation more in future.

I think its necessary if other countries where to totally accept Bitcoin like Zimbabwe and Venezuela that they've made it their local currency due to hyperinflation then taxes is necessary for a country to progress and in order to support their citizens.

Nope that is totally wrong,it is every peoples obligation to Pay taxes in every profiteering we made so why need to be used as currency first before paying taxes?

[vapourminer]

Sad to now but only with taxation we will have real adoption and legalization

agreed. perhaps im wrong, but once something is taxable, that adds legitimacy. after all you dont tax illegal gains.. like there is no tax on selling heroin on the streets. or taxing bribes. etc.

[Russlenat]

Taxes are reasonable IMO, but it varies on the percentage of tax the government will enforce to us, if it's 20-30%, I think that is too high, any government that would impose high taxes on crypto are treating crypto as an enemy or anything that would not help to the economy on its existence, this kind of tax rate are like taxes on cigarettes and liquor in our country which we called SIN TAX.

However, every government has different policy on crypto taxes, I'm just happy to belong in a crypto where our government are positively accepting cryptocurrency.

[Kez1817]

 I think tax on bitcoin is essential to help the government a little percentage but it should have a limit or exact amount to be taxed like for example if someone owned 5BTC for the whole year then he is titled for bitcoin tax but hopefully just  a small percentage because crypto currency is not like a stable job who consistently earns monthly.

[Forexgdp20]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

It is 0% for those in the 10-15% income bracket, 15% for those in the 25-35% income bracket, and 20% for those in higher brackets

[Sanugarid]

This is the main reason why some countries haven't really advertised the use of bitcoin and cryptocurrency, it is very complicated to tax bitcoin and the most possible way is for the local exchanges to do the work. If most of the transactions will be anonymous and will not be under the local exchange, there will completely no tax needed to be paid which isn't good for the government and eventually for the economy.

This is the concern that most of the people are complaining to, why would you tax cryptocurrency? it is foolish to tax it just because they know that we can make money out of it. Have you not wondering why we are having a lot of CBDC trials? because even working digitally they want a tax from the people, cryptocurrency lead the whole financial to be digitalized which from our case we are near to make it happen. It is sad knowing that most of CBDC are not into cryptocurrency but only with digital payments. I'm not against with it tho.

For me, I am okay with government taxing bitcoin but only if bitcoin became mainstream transaction medium. Right now, it serves as an alternate option especially for cross border transactions which really costs a very huge transaction fee.

No, even when it reaches $50000 it is very unreasonable. What the government should be doing is taxing the exchange, not the bitcoin because they are the service provider and us? we are paying for the tf.

[rexxarofmoknathal]

Most countries don't currently recognize Bitcoin for tax purposes, simply because a lot of people also lose money on cryptocurrencies which would therefore mean that they should be able to claim a tax rebate. Overall, more people lose money nowadays than gain money, therefore the government would actually be in a net loss as far as tax goes. The only way around it would be to only tax profits and offer no relief on losses, but that wouldn't be in line with other asset types.

[shata]

Tax should always be just accordingly whether or not the reason for government has discouraging form of accepting one. Crypto in its nature is viewed like stocks transactions which involved capital gains tax. Ideally, if it is taxed based on income tax then it will be doubled; thus, it must be tax as capital gains normally on fixed percentage like 10%-15%.

[ChiBitCTy]

I guess this question really depends on the amount of taxes you're paying overall in your nation. Personally living in Chicago Illinois the amount of taxes I pay are higher than anyone else in the country.  We pay countless needless taxes that just end up going to the government to be misappropriated, so for me, I think it's a bit unnecessary at least in the manner of how it's taxed.

[charlesmichel1]

Taxes on buying and holding Bitcoins is unreasonable, people don't get income, so it can't be a taxable event. I agree that trading crypto to fiat or using crypto for making purchases or earning cryptocurrency as income should be taxed. But 30-40% is too high.

[thesmallgod]

I am not again paying tax for holding bitcoin but such policy should be adequately be reviewed. Just because people earn a lot doesn't mean they should put on a huge percentage cut of the tax to be paved. 30% is too much. If any country want this. They should work out the modality and make sure equal tax is paid for crypto and fiat earners. And above all they should also help hodlers by making policy that make use of crypto seamless and more generally acceptable

[CoinFoxs]

When it comes to Bitcoins, Internal Revenue Service(US) and its counterparts from other parts of the world believe Bitcoin as an asset or intangible property but not a currency as it is not issued or printed by central banks. If someone is mining bitcoins and then selling it to third party or if one is buying BTC from someone and selling it to others for making profits and using bitcoins to buy good or services then I think yes it should be taxable. As in recent past people have earned enormous amount of money by trading crypto so I think its fair to collect tax if someone is making money out of it.

[KrisAlex18]

It is unreasonable, bitcoin or other cryptocurrencies are decentralized and governments don't have something yo do with it, they shouldn't give tax on it because they don't even control the blockchain, but in some other way in order for the bitcoin to become more prominent all over the world government should be related on this because they ate the one that will accept the bitcoin on their country, the government will do anything just to have profit on something. The government is always into money that is why there are many corrupt governments they always find ways to have revenue on the cryptocurrency.

[Zionatin]

Crypto is not owned by anyone and shouldn't be taxed. Noone can prove beyond a reasonable doubt where your bitcoin came from and what wallets you own. Why must you sell something you and your people decided to trade just to convert it into a government entity known as fiat? The fiat has already been converted into bitcoin and so the fiat is already in circulation. It isn't essential nor reasonable to tax crypto. Unless you declare what crypto you own. No one can prove you even have any.

[Excell110]

Well, where I come from, taxes on Bitcoin has not been effected yet.
 But I think it will be unreasonable to place higher tax on Bitcoin seeing as it is supposed to be beyond any central controly, due to the technology it was built on.
 Rather, Bitcoin owners can pay the regular taxes imposed on fiat currencies, just like every other individual.

[abhiseshakana]

Crypto is not owned by anyone and shouldn't be taxed. Noone can prove beyond a reasonable doubt where your bitcoin came from and what wallets you own. Why must you sell something you and your people decided to trade just to convert it into a government entity known as fiat? The fiat has already been converted into bitcoin and so the fiat is already in circulation. It isn't essential nor reasonable to tax crypto. Unless you declare what crypto you own. No one can prove you even have any.

The object of the tax is your total wealth and the income you get. The tax object does not look at the form of your wealth. The initial purpose of bitcoin is to eliminate intermediaries in transactions not to juggle your assets to become untraceable.

Why does the state have the right to impose a tax on the income or wealth of all citizens in any form. Because all citizens must obey the applicable laws and regulations. The essence of a country has an obligation to protect its citizens. Ensuring fairness and security in transactions in a country. We take the parable if there are taxpayers involved in tax crime or tax avoidance, then the tax institution will have difficulty freezing the relevant assets because the authorities do not have the authority. This is a form of injustice for other citizens. In addition, the facilities that you use in your daily life, such as roads, are owned by the state.

[so98nn]

Yeah it is but I guess it's also reasonable in terms of government. If you are earning money then some portion has to go to taxes and there is no harm at all. I have even said same thing to other post where guy was arguing that where he should put his money so that he can avoid taxes. It will even help your credibility in financial way if you pay your taxes on bitcoin.

And they are not 30% straight on any amount. It's a slot that was defined in the India Budget 2020. This slot (30%) is applicable if your earnings are more than INR 10,00,000.

When you reach that much earning yearly then it's fine to pay that much taxes.

Lots of benefits I guess rather than debating about it.

[goaldigger]

Well, where I come from, taxes on Bitcoin has not been effected yet.
 But I think it will be unreasonable to place higher tax on Bitcoin seeing as it is supposed to be beyond any central controly, due to the technology it was built on.
 Rather, Bitcoin owners can pay the regular taxes imposed on fiat currencies, just like every other individual.

Higher taxes means higher profit to the government, but I don't think they should impose higher taxes on this since we are already paying our income taxes at a reasonable rate. Luckily, we haven't liable or forced to pay those taxes since there's no final law about it and there's no regulation yet. If the rate is high, then bitcoiners will suffer again under the control of the government, this can be a big fail for being a decentralized market.

[dcybergeek]

Didn’t report taxes, haven’t cashed out any money not even reporting eth to Neo buys...
I’ll pay taxes when I cash out, but not going to pay taxes on coin conversions in fear I double report gains over 2 years....
They are worried about people cashing out $10,000+ and not reporting to coin to cash.

[Russlenat]

That is why the government wants to regulate crypto for this sake. Obviously, many crypto holders never think about taxes they paid in converting their  BTC to FIAT but that buying goods with the use of our local currency we are simply giving them a tax.

That could be a different tax, in our country we called that Value added Tax, every time we buy a product, tax is already included.
Tax on crypto is different, it's more like an income tax, and in every country they might be treated it differently, or different tax implementation.

If the government will push that taxes in all crypto holders, yet, it was not essential but we have nothing to do and we can't hide anymore.

It's hard to hide when everything is regulated, exchanges, banks, and remittances, they can use that to get the necessary information to trace with regards to our transactions.

[coolcoinz]

If the government will push that taxes in all crypto holders, yet, it was not essential but we have nothing to do and we can't hide anymore.

It's hard to hide when everything is regulated, exchanges, banks, and remittances, they can use that to get the necessary information to trace with regards to our transactions.

Not exactly. Try P2P exchanges or physical currency exchanges. I have used those with quite a success in the past. They are regulated, but are nmot required to gather any personal information if the transaction doesn't exceed a certain amount (I believe in the EU it's 15 or 20k EUR). Think it's not a lot? You can think again, because it's a single transaction requirement. You can come with a friend and say half of the money is his and the limit doubles.
Of course they will not allow you to keep on excchanging 100k every day for a month, but if those aren't unreasonably high amounts you can easily get away with 100k EUR a month, which for most people is more than enough.

[Welle1943]

If the government does not impose taxes on currencies, that the trade you undertake may become illegal and lose your money.
Governments impose taxes and this is their job.
you pay taxes and enjoy with small earning.
Pay your taxes and look for some legal that you to pay the lowest taxes possible.

[Twentyonepaylots]

That is why the government wants to regulate crypto for this sake. Obviously, many crypto holders never think about taxes they paid in converting their  BTC to FIAT but that buying goods with the use of our local currency we are simply giving them a tax.

Taxes is for the community, and I'm not against with taxation however taxing the cryptocurrencies is on a whole new level of illusion. If they give us a single good reason and benefit for it then we might just agree and go with it, but it seems like they all just think about the money. They even call it at first a bubble     Taxes should be put towards the service provider orbiting the cryptocurrencies and not the cryptocurrencies itself, aren't they doing it now?

If the government will push that taxes in all crypto holders, yet, it was not essential but we have nothing to do and we can't hide anymore.

As long as it is attainable for us crypto users, as long as it goes to the right community projects then why not?

My main question on this is HOW?

[supine]

Why would they tax it? And besides how would they even track all of those who are earning crypto?
I am against it and I guess majority of us would also agree to me.
It would just kill crypto and make dump Bitcoin just imagine having a tax to pay for the government then you would also need to pay for transaction fee this is too much for small time earners.

[Sadlife]

Well if its in a country's rule of law then you can't do anything else but just to accept. This is indeed unfair to the Bitcoin user especially if that country hasn't accepted Bitcoin and putting excessive amount of tax considering its not Government property.

The only solution i could think of is to move to other country with no restrictions or regulations in Crypto.

[The cure]

Well for me it's not so bad that we pay taxes and it is better to obey the government's imposition of tax.but the government should not take advantage on it.

[Oilacris]

Well for me it's not so bad that we pay taxes and it is better to obey the government's imposition of tax.but the government should not take advantage on it.

Tax can either be used on good or bad way thats why i will just vary on how those government officials would utilize those taxes for countries development.

Paying up tax is worth but we know that once we do get involved with crypto where people can easily hide of their actual income and cant really be traced off

by government itself.If you do decide to self-proclaimed then its your choice.

[Debonaire217]

The only way they could tax bitcoin is to tax local exchangers. Or local exchanges to tax people from conversion. Because by means of the transaction with bitcoin directly, there's no way the government could interfere. Especially if the people are transacting using wallets that are independent of government interference, such as hardware wallets.

Very well opinionated, I think taxing bitcoin for the sake of being widely accepted is better for me, as it also helps us to have good infrastructures to use.

[Emmychris]

For me I would say the government shouldn't apply tax on bitcoin because there are not helping bitcoin in any aspect, there see bitcoin as a currency used for illegal activities but yet there still benefit from bitcoin through taxation, if any country must apply tax on bitcoin there should first of all adopt bitcoin.

[Reatim]

Yeah it is but I guess it's also reasonable in terms of government. If you are earning money then some portion has to go to taxes and there is no harm at all. I have even said same thing to other post where guy was arguing that where he should put his money so that he can avoid taxes. It will even help your credibility in financial way if you pay your taxes on bitcoin.

And besides tax is our obligation right?we are given a chance to gain how much we can but with a rules that we must pay taxes.

And they are not 30% straight on any amount. It's a slot that was defined in the India Budget 2020. This slot (30%) is applicable if your earnings are more than INR 10,00,000.

different taxes apply in other country,But i think 30% is much big for a business person.

When you reach that much earning yearly then it's fine to pay that much taxes.

Lots of benefits I guess rather than debating about it.

That is why in my Place our local government allow us first 1 year to establish our Business and after that they will collect us Business permit and then we are required to pay for taxes then.

[Findingnemo]

Some countries wants to make tax from everything and let their people die on their own, some other countries have very low tax rate still they can make their country as one of the developed nation in the world.Yes asking 30% tax from our earnings is unreasonable that is why people are hiding their earning which is easy to do, so government should regulate cryptos with good tax rate to get all the benefits from it.

[concept2]

Well, where I come from, taxes on Bitcoin has not been effected yet.
 But I think it will be unreasonable to place higher tax on Bitcoin seeing as it is supposed to be beyond any central controly, due to the technology it was built on.
 Rather, Bitcoin owners can pay the regular taxes imposed on fiat currencies, just like every other individual.

Higher taxes means higher profit to the government, but I don't think they should impose higher taxes on this since we are already paying our income taxes at a reasonable rate. Luckily, we haven't liable or forced to pay those taxes since there's no final law about it and there's no regulation yet. If the rate is high, then bitcoiners will suffer again under the control of the government, this can be a big fail for being a decentralized market.

I have a different thought upon this circumstance. Taxing on bitcoin is essential if we do want bitcoin to become the same as fiat. Without being taxed, bitcoin will still remain outlaw and it is not recognized by the leader of a country. And its will be extremely difficult for bitcoin to be used world wide. However, I believe that most of the people, including me, see this situation as an chance for us to collect and use bitcoin anonymously without being confronted by the law or some sorts like that.  

[LogitechMouse]

Paying taxes is our right and here in our country, people are obliged to pay taxes when we are in a work.

Lucky for our country because as of this moment, the government isn't thinking of putting a tax on Bitcoins or any cryptocurrencies. Taxes are there for the betterment of the economy so if the time will come that they will put taxes on Bitcoins here in our country then there is no problem on it since it is our responsibility to pay taxes right .

[Salauddin1994]

Taxes on Bitcoins It is completely unreasonable because Bitcoin is decentralized and no one can control, The government of any country cannot control it like Fiat currency. Bitcoin is still illegal in many countries and many do not support. If no one knows the real source of Bitcoin then any platform will look at the debate over the imposition of tax on Bitcoin. The government of a country imposes a tax on cryptocurrency to improve their country.

[sayulita]

Taxes on Bitcoins It is completely unreasonable because Bitcoin is decentralized and no one can control, The government of any country cannot control it like Fiat currency. Bitcoin is still illegal in many countries and many do not support. If no one knows the real source of Bitcoin then any platform will look at the debate over the imposition of tax on Bitcoin. The government of a country imposes a tax on cryptocurrency to improve their country.

But the income should be taxable when the person is converting his bitcoins or altcoins into cash. Then they should pay taxes on the gained profit from the crypto because the taxes that they will pay will actually help their country in improving the services for its citizens. Also the biggest debate here is in determining the amount of income that the person earns from cryptocurrencies because there are many ways to hide the income and get away without paying the taxes, but I am sure in the future if the governments make crypto legal all around the globe then they will also find ways to tax the crypto income as well.

[teosanru]

Okay I will give you two aspects of it. First is on a micro scale. Why would you want to pay any taxes on Bitcoins? Obviously it's your hard earned money and government hasn't helped you to earn money. Nor are you keeping the money in any government account or with government security. So why should anyone be liable to pay tax on bitcoin and that too at an exquisite amount percentage of 20-30%. Sounds valid?

But lets take this scenario at a macro scale. Aren't the other citizens paying taxes pretty much the same as you? Why should you get an advantage for merely earning incomes in bitcoin. Think of it that if someone else is earning Income in other mode which is not taxable will you be ready to pay his burden of tax? Moreover on a macro scale. it's for our very own usage. You are using infrastructure set up by your own tax money. So tax on bitcoin is essential unless you are ready to undertake the task of constructing the road besides your house on your own. Or you are ready to invest in power grid of your home on your own.

[yazher]

Paying taxes is our right and here in our country, people are obliged to pay taxes when we are in a work.

Lucky for our country because as of this moment, the government isn't thinking of putting a tax on Bitcoins or any cryptocurrencies. Taxes are there for the betterment of the economy so if the time will come that they will put taxes on Bitcoins here in our country then there is no problem on it since it is our responsibility to pay taxes right .

I agree with you man, thankfully we are not yet obliged to pay taxes when using BTC in our country which is so far so good for us. If they ever put some taxes on it, it would not be that higher than the other countries on the list. because we know that in here people will not be engaged in something that has some kind of higher payments except those who can afford it which only a few people in our country can do.

[Findingnemo]

Paying taxes is our right and here in our country, people are obliged to pay taxes when we are in a work.

Lucky for our country because as of this moment, the government isn't thinking of putting a tax on Bitcoins or any cryptocurrencies. Taxes are there for the betterment of the economy so if the time will come that they will put taxes on Bitcoins here in our country then there is no problem on it since it is our responsibility to pay taxes right .

So you are ready to pay 30% of your earning as tax? This is an insane amount right and no one can live a better life other than politicians if we pay such amount.As I said huge tax rate will results into black economy.

[Debonaire217]

So you are ready to pay 30% of your earning as tax? This is an insane amount right and no one can live a better life other than politicians if we pay such amount.As I said huge tax rate will results into black economy.

Look what happened the country Moldova, I watched a vlog by one YouTuber stating the corruptness of the politicians in Moldova, that is why the country is considered the least visited. That is just a one side of the possibilities of having huge tax. But that doesn't mean that all of the country will do the same thing especially when taxing bitcoin. We should not generalize the government and politicians of all country as the same, since there's still a lot of good infrastructures and projects that are worthy of our taxes.

Going back, the problem is taxing cryptocurrency and bitcoin IMO, tax it in local exchanges, but they couldn't tax peer to peer transactions.

[KrisAlex18]

Its really not appropriate, bitcoin or cryptocurrency are decentralized and it should be separated to the centralized system where all of the things have their own taxes, bitcoin should not be included on it. The government is so greed when talking about money, they know that bitcoin is really valuable and there are many people who are making a big profit from it so for them to have shared with it, they want to put it in tax, but it is unreasonable, this should not be implemented in any country because once it will have on once country, there would be many countries who will do the same thing.

[TIDOVEE]

In my country, no tax is being demanded on it yet, but with the rate of growth of users now I'm suspecting they may soon have to open their eyes to it. The good thing is that many of the government agencies have not really known what Bitcoin is, in as much as it is not a scam which will quickly call their attention. I can't blame those smart government in the countries  that you have mentioned. Because thee make proper monitor of the money in circulation and even though you earn it without their help, they must collect tax for running within the national economy.

[mezzaluna]

That is such a big move to be made by the government if they are willing to place taxes on Bitcoins. That means that they are knowledgeable enough to make decisions like this and meaning that users within those countries will contribute to the countries economic status.

20% above tax is already big but I guess, from someone who has little knowledge about how will the tax be distributed, that tax must be place into good use. Those countries involve already have good names because of their economic status and with more help, that will really be profitable for the whole country. I guess they would be really willing to make these kind of moves for the benefit of the country. Users might suggest to lower the tax for them to keep using and working within the Cryptocurrency Industry.

[Findingnemo]

So you are ready to pay 30% of your earning as tax? This is an insane amount right and no one can live a better life other than politicians if we pay such amount.As I said huge tax rate will results into black economy.

Look what happened the country Moldova, I watched a vlog by one YouTuber stating the corruptness of the politicians in Moldova, that is why the country is considered the least visited. That is just a one side of the possibilities of having huge tax. But that doesn't mean that all of the country will do the same thing especially when taxing bitcoin. We should not generalize the government and politicians of all country as the same, since there's still a lot of good infrastructures and projects that are worthy of our taxes.

Going back, the problem is taxing cryptocurrency and bitcoin IMO, tax it in local exchanges, but they couldn't tax peer to peer transactions.

99% of the countries have corrupted politicians only, maybe they are using tax money for development of the country with good infrastructure but what is the point of collecting huge tax and building good infrastructure when 50% of their people don't have good income rate.We are already paying income taxes for all our earning in total so adding extra percentage especially for cryptos will result in half of our earnings will go to the government only.

[Yatsan]

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

Here in the country where I am currently residing, our government have no say on putting taxation on using Bitcoin or any other cryptocurrencies because they tend not to encourage people on using cryptocurrencies and if we do want to use cryptocurrencies, it would be our freedom but we must also take it as a full responsibility on which we are taking it on our own risks.

If the case that once our government realize that it might be essential to put tax on those people using cryptocurrencies, I think it would be reasonable and unreasonable also on the other hand. Reasonable in a sense that crypto users must also take part as their responsibility on the country to have contribution for the sake of the day country's welfare. Unreasonable on the other side because cryptocurrency is out of government's range of power since no one owns it because it is decentralized.

But if the government would put taxation on using cryptocurrencies, it might not be a problem to me as long as the rate is fair for the user since not all are really that high earner and the tax must be properly use for good sake of the country and not to feed their pockets.

[Ozero]

Taxes are imposed not only in cases where the state helps people to make money. From the point of view of the state, taxes are established in cases where people make a profit from any kind of activity.
In general, we need to pay tax, otherwise the state will impose various restrictions or even prohibitions on the use of cryptocurrency. However, everyone has the right to decide what to do in this situation.

[DarkDays]

Well, most countries don't actually tax cryptocurrencies until they have been disposed of. This essentially means once they have been spent, sent, used or otherwise exercised.

Only a handful of countries will tax cryptocurrencies that havent been disposed of, this is because it actually opens them up to some severe downsides.

For example, if somebody buys a lot of cryptocurrencies and then loses most of their money, they could then claim a tax rebate in many countries. And since there are more losers than winners in trading, it would probably be net negative for them to tax undisposed digital assets.

Pretty sure America is the only country that does this, that's because it's a third world country masquerading as a first world one, and needs all the money it can to keep up this image.

[Natalim]

@DarkDays, TBH, I would prefer that the trading sites or other platform will just deduct the taxes from me, they will act as a withholding agent in short.
Tax on bitcoin and even in regular tax is quite complicated for people who are not into business.

[achach]

I am willing to pay crypto taxes if they will support the crypto community and protect it.

[Amel]

There are some governments who do that but there are also governments those who have made Bitcoin a band for their country. In no way do they think Bitcoin is safe for their country because they think bitcoin is only used for illegal activities. They also think that it is not possible for them to get any tax from Bitcoin. So they are reluctant to allow any form of bitcoin for their country.

[Daniel91]

Taxes on Bitcoins It is completely unreasonable because Bitcoin is decentralized and no one can control, The government of any country cannot control it like Fiat currency. Bitcoin is still illegal in many countries and many do not support. If no one knows the real source of Bitcoin then any platform will look at the debate over the imposition of tax on Bitcoin. The government of a country imposes a tax on cryptocurrency to improve their country.

I mostly agree with you.
Bitcoin should not be taxed, but what if we exchange bitcoin for fiat money, withdraw it in a bank account and buy something in the store?
Local money is issued by the central bank and it is fine for it to be taxed, in my opinion.
The Central Tax Office in my country has just given such instructions, that no tax is paid on bitcoin itself, but tax is paid at the moment when we exchange bitcoin into a hard currency, what is ok.
That tax is not big, 12% plus surtax and if we kept bitcoin in our wallet for 2 years we don't pay anything.

[GazetaBitcoin]

In Romania there is a 10% tax for crypto profits. So not for incomes, but for profits. The amount is the same one used for income taxes (for employees) and for companies' profits.

The 10% has to be paid once a year, if you exchange crypto for fiat and only if you earn a profit. If you obtained crypto at a higher price than when you sell it, then you are on a loss and you don't have to pay the 10%. This tax applies to anything crypto related which may bring profits: trading, mining etc.

There is an exception though: if you earn profits in a year, but no bigger than 600 RON (~135$) and in transactions lower than 200 RON (~44$), you don't have to pay the 10%. But if you have a 500 RON transaction and another one of 100 RON (which still don't surpass the 600 RON treshold) you will pay 10% though, as you had a transaction bigger than 200 RON.

However, taxing is difficult for both sides - state and bitcoiners. For now, the state acts on good faith, allowing people to pay or not their crypto tax without verifying them. So you can have profits and not pay the tax, assuming the risk that somewhere in the future, if you'll get caught, you'll be a tax evasion criminal.

On the other hand, those which want to be correct have difficulties in proving if they were on a profit or loss. For traders, they should have logs for each transaction and prove at what price they bought and at what price they sold. But if they worked with many exchanges, maybe also with closed ones, they can't prove if they are in a profit or on a loss, as they don't have logs anymore. Only those very thorough can actually prove with papers, in case the govern comes for them.

For miners it's even harder. They should present the papers for acquiring their equipments, they should present also the electricity bills, then calculate if they have profit or loss at exchanging crypto for fiat taking also into consideration the price paid for electricity and for hardware. I believe even an accountant would have difficulties in calculating that, without thinking at a regular person.

That being said, it is a very complex law and even more complex is enforcing it. Of course, this applies for those which cease their privacy when going into fiat, meaning those which use centralized exchanges, which ask for KYC. If you make the exchanges without giving your personal information (DEXs, p2p transfers, using cash-in / cash-out crypto ATMs), you have less to worry.

[Asuspawer09]

I guess it does make sense putting small taxes in bitcoins or in a transaction but probably it would not happen directly in the bitcoin transaction but in the companies or the bitcoin wallet.

But probably it's a bad idea at this time as bitcoin is not yet completely implemented all over the world if the country already exposed in bitcoin or already uses it as an asset it might work with taxes.

[olamidey]

I remember when you could invest in cryptocurrency and make money without worrying about giving part of your earnings to government.

I am not trying to say paying tax is bad, in fact i pay my tax regularly for close to a decade now, but when it comes to taxing Bitcoin or any other cryptocurrency,

I am not fully in support, because Bitcoin is first a currency before it is an investment, how will it sound if you are taxing someone for spending dollars? That's exactly how it seems taxing Bitcoin.

 Just like you said, it is debatable, but if you put Bitcoin's primary objective of Bitcoin (which is to serve as alternative currency), then Bitcoin should not be taxed.

[pixie85]

Cryptocurrency taxation is essential, but the same should not be levied heavily. It is a must to take into account the chart for the transaction amount and the value. However we do, it is a big process to get the taxes from the citizens. Here everything need to be done with effect from the traditional exchange system.

Essential for which entity? The government?

Surely not essential for the taxed citizens.

I guess it does make sense putting small taxes in bitcoins or in a transaction but probably it would not happen directly in the bitcoin transaction but in the companies or the bitcoin wallet.

But probably it's a bad idea at this time as bitcoin is not yet completely implemented all over the world if the country already exposed in bitcoin or already uses it as an asset it might work with taxes.

If the tax is added to the transaction fee how is it going to work? Are you taxed by the country you live in? Or maybe the country you send coins from or the country you send  coins to? Or maybe you're taxed by the country you are a citizen of?

[conhela]

20-30% is not at all a reasonable tax price.

Of course it isn't, imagine that a person gets taxed that much for purchasing or selling gold or similar assets, it's governments being governmental that they need a cut of everyone's pie and part of the reason why bitcoin was born in the first place.

[Heart18]

For me its essential, only if the Government of each Country accept Bitcoin and legalized it. The tax that might be collected from Bitcoin can help the Country's economy to grow. So, if that would be implemented I will support the Government because its a big help for my country.

[Vatimins]

     If we think about it, the main point of this whole industry specially bitcoins, is that it wants to be away from traditional ways or to give freedom to its users from the world we are used to in terms of assets or so if you get what I mean. But if we really want recognition and being allowed by most of the countries, we really have no choice but to agree with taxes no matter how unfair it kay seem since there really is no other way.

[Mahanton]

I remember when you could invest in cryptocurrency and make money without worrying about giving part of your earnings to government.

I am not trying to say paying tax is bad, in fact i pay my tax regularly for close to a decade now, but when it comes to taxing Bitcoin or any other cryptocurrency,

I am not fully in support, because Bitcoin is first a currency before it is an investment, how will it sound if you are taxing someone for spending dollars? That's exactly how it seems taxing Bitcoin.

 Just like you said, it is debatable, but if you put Bitcoin's primary objective of Bitcoin (which is to serve as alternative currency), then Bitcoin should not be taxed.

Its still not consider to be on legal aspect thats why government would really see it as a taxable thing specially to those who are involved in investments and also with trading.
They do know that people do generate thousands of dollars in profits thats why they are trying to apply things up when it comes to taxation matters.Even myself is a taxpayer and doesnt have any skips
on that one but same as yours when we do talk about Bitcoin taxation then its a different thing.Yes its debatable and if they would push it out then i doubt if they do able to imply it yet
it wont be easy as it sounds.

[Daniel91]

     If we think about it, the main point of this whole industry specially bitcoins, is that it wants to be away from traditional ways or to give freedom to its users from the world we are used to in terms of assets or so if you get what I mean. But if we really want recognition and being allowed by most of the countries, we really have no choice but to agree with taxes no matter how unfair it kay seem since there really is no other way.

Of course that we all wants financial freedom but there is no absolute freedom out there.
If you want strong public service,  health care,  free study like we have in Europe than taxes are very important.
I think rule that we don't need to pay taxes on crypto but only on fiat money  (at the moment when we exchange crypto to fiat ) is fair rule
At least, such rule exist in my country.

[kateycoin]

This issue is still debating but we know that if bitcoin will be having a task goverment will do what ever they want. And i think bitcoin value will be gone if goverment will put task on it. I think it will not good for bitcoin and theres a lot of things to consider before that they put taxes in decentralize coin.

[abhiseshakana]

Of course that we all wants financial freedom but there is no absolute freedom out there.
If you want strong public service,  health care,  free study like we have in Europe than taxes are very important.
I think rule that we don't need to pay taxes on crypto but only on fiat money  (at the moment when we exchange crypto to fiat ) is fair rule
At least, such rule exist in my country.

If the tax on cryptocurrency is eliminated, many people will divert their income using cryptocurrency. With coercion and threat of sanctions, there are still many individuals and groups who avoid tax obligations. If cryptocurrency is not taxed, it will be an opportunity for many individuals to avoid tax legally. If this is widely practiced by the people, over time the country will lose income, which in turn will conduct a review of tax regulations that will ultimately harm many people.

[carter34]

For me its essential, only if the Government of each Country accept Bitcoin and legalized it. The tax that might be collected from Bitcoin can help the Country's economy to grow. So, if that would be implemented I will support the Government because its a big help for my country.

Only if it is made legal because many countries have not made bitcoin a legal means of generating money. So it won't be easily taxed upon when people are not freely making use of it. If it is made legal, then people can use it to make payment and income can be generated there.

[Daniel91]

Of course that we all wants financial freedom but there is no absolute freedom out there.
If you want strong public service,  health care,  free study like we have in Europe than taxes are very important.
I think rule that we don't need to pay taxes on crypto but only on fiat money  (at the moment when we exchange crypto to fiat ) is fair rule
At least, such rule exist in my country.

If the tax on cryptocurrency is eliminated, many people will divert their income using cryptocurrency. With coercion and threat of sanctions, there are still many individuals and groups who avoid tax obligations. If cryptocurrency is not taxed, it will be an opportunity for many individuals to avoid tax legally. If this is widely practiced by the people, over time the country will lose income, which in turn will conduct a review of tax regulations that will ultimately harm many people.

I agree with you and that is why we need some reasonable compromise that will suit everyone.
In my country there are already talks between the tax office and certain representatives  of the crypto sector and crypto companies.
For now we have a very good solution that we don't have to pay crypto tax if we've kept crypto funds in our wallet for at least 2 years and can prove it.
It's very good and reasonable solution.

[Eugenar]

This is so unreasonable, cryptocurrency is in a decentralized system so taxes are no place here because the government should not do things with regard to cryptocurrency, but once the government decided to put a tax on it then the people can do things to stop it. There are many users of bitcoin and they keep on using it for some purposes, if there would be a cryptocurrency tax there would be many people who will be mad for what will happen.

[Alucard1]

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

Tax on Bitcoin is reasonable because anything that is tradable must have a tax so that every country has a funds and they can help the security of trading. It will also be the way to make the Bitcoin get legalize on every country because funds is very important. If Bitcoin gets legalize on every country and the mass adaptation occurs, there is a big possibilities that the tax on Bitcoin can be removed since it is the new financial system of the whole world.

[ufaiz50]

Based on the tax concept, making taxes depends on government regulations and the regulations have been calculated according to the criteria. Can be taken from the number of users in the country or by the number of transactions and the value of the transaction. It is unfortunate that some countries provide large taxes where users from these countries do not benefit from paying taxes. I don't think about taxes as long as the tax imposition is worth it.

[bitgoldpanther1978]

20-30% tax was too irrational for my understanding dude, Because here in my country our local exchange
was also deducting tax, and it should due to they are centralized platform that means it is automatic there is
tax given return in the government.

[Lina AH]

The government is always one step ahead of its population and of course they want to make a profit from everything. Perhaps if they could somehow help people who own bitcoins, learning, saving, safety, etc. and they would take a small tax for it, I think it would be normal, but in fact I am sure it will be on average 20%.

[Daniel91]

The government is always one step ahead of its population and of course they want to make a profit from everything. Perhaps if they could somehow help people who own bitcoins, learning, saving, safety, etc. and they would take a small tax for it, I think it would be normal, but in fact I am sure it will be on average 20%.

I think that in my country the government is very reasonable and open when it comes to crypto taxes.
We only pay taxes if we decide to exchange crypto funds into local money and the tax is relatively low, only 12%.
If I can prove that I kept crypto funds in my wallet for at least 2 years I don’t pay any taxes.

[Ozero]

    If we think about it, the main point of this whole industry specially bitcoins, is that it wants to be away from traditional ways or to give freedom to its users from the world we are used to in terms of assets or so if you get what I mean. But if we really want recognition and being allowed by most of the countries, we really have no choice but to agree with taxes no matter how unfair it kay seem since there really is no other way.

Yes, I also agree with your opinion. The imposition of a tax on profits from bitcoin and other cryptocurrencies simultaneously paves the way for increasing its liquidity. The development of infrastructure for the use of cryptocurrency as a means of payment is possible only through the establishment of general rules for its circulation in society and the simultaneous consideration of the issue of taxes.
We will also have to pay these taxes, otherwise governments may take measures to restrict the circulation of cryptocurrency, up to and including its complete ban.

[PeripoGrey]

Unreasonable, there are a lot of ways for a government to generate revenue and funds for its economy and for building infrastructures so aa schools and road works. Small businesses might get affected and will slightly make their income reduce due to transaction fees and taxes will be deducted to them.

[FlightyPouch]

I don't know. Here in our country they are not actually taxing crypto currencies. This pandemic made some changes to taxes and they are even including some streaming platforms like Nerflix now. I don't think they will be doing the same with cryptos or bitcoin all I know is that there is a possibility it will happen and I also think it is unreasonable yet it is needed by the country.

[Natalim]

The government is always one step ahead of its population and of course they want to make a profit from everything. Perhaps if they could somehow help people who own bitcoins, learning, saving, safety, etc. and they would take a small tax for it, I think it would be normal, but in fact I am sure it will be on average 20%.

I think that in my country the government is very reasonable and open when it comes to crypto taxes.
We only pay taxes if we decide to exchange crypto funds into local money and the tax is relatively low, only 12%.
If I can prove that I kept crypto funds in my wallet for at least 2 years I don’t pay any taxes.

12% is only low if you are exchanges a small amount, you might not feel the tax, but try to exchange $1 million, 12% of it is $120,000, that's huge right?
I know know what the tax laws in your country but compared to other countries, that's lower of course but it might differ on how tax are treated when computing it.

[Daniel91]

The government is always one step ahead of its population and of course they want to make a profit from everything. Perhaps if they could somehow help people who own bitcoins, learning, saving, safety, etc. and they would take a small tax for it, I think it would be normal, but in fact I am sure it will be on average 20%.

I think that in my country the government is very reasonable and open when it comes to crypto taxes.
We only pay taxes if we decide to exchange crypto funds into local money and the tax is relatively low, only 12%.
If I can prove that I kept crypto funds in my wallet for at least 2 years I don’t pay any taxes.

12% is only low if you are exchanges a small amount, you might not feel the tax, but try to exchange $1 million, 12% of it is $120,000, that's huge right?
I know know what the tax laws in your country but compared to other countries, that's lower of course but it might differ on how tax are treated when computing it.

As I already explained before,  there is a very simple way how to avoid crypto tax in my country.
We have to keep the crypto funds at least 2 years in the wallet, prove it to the authorities and in such case we don't have to pay any tax.
It's very simple and fair rule.

[pandog79]

its an interesting discussion and i am not really sure what would be fair.  i think because governments are not involved, they should not receive the incentive of a tax unless you liquidate btc and turn it into cash.  then and only then i could see taxation of some sort being fair.  afterall, cash is governed.

[Lizzie_Girl]

I don't think we should pay taxes at all. Though that won't work since you need tax to build and maintain infrastructure. I don't think crypto should or can be taxed unless it becomes fiat. Why should we pay tax on something we created for ourselves? One day people will appoint a new way of doing things where you don't pay tax but rather fees for everything you do. YOu invest in the infrastructure instead of mindlessly tossing money to the government to waste.

In some countries paying tax almost feels like the wrong thing to do since you know what they will do with it. Buy themselves a new car and house.

[Daniel91]

I don't think we should pay taxes at all. Though that won't work since you need tax to build and maintain infrastructure. I don't think crypto should or can be taxed unless it becomes fiat. Why should we pay tax on something we created for ourselves? One day people will appoint a new way of doing things where you don't pay tax but rather fees for everything you do. YOu invest in the infrastructure instead of mindlessly tossing money to the government to waste.

In some countries paying tax almost feels like the wrong thing to do since you know what they will do with it. Buy themselves a new car and house.

Mostly I can agree with you.
If you just trade with btc or hold btc funds in the wallet I don't think we have to pay taxes.
But,  if you exchange crypto to fiat or even pay directly some services with crypto it's different matter.
In second case you should pay tax. 

[pandog79]

i think alot of people bypass tax by taking out loans on their crypto holdings. thats a sneaky way to avoid.

[jpnl0006]

I see no essentiality in the  Taxing on Bitcoin as assets as it  has nothing to do with the government and the financial institutions. It was designed to be independent of government agencies and also the technology does not require approval or any function of govenrment in order to process it. Why then should therer be a tax on it.?

[CarnagexD]

I see no essentiality in the  Taxing on Bitcoin as assets as it  has nothing to do with the government and the financial institutions.

Now they see it, now it has to do with government. This is why government are trying to regulate cryptocurrencies coz they are so bothered that some people are making millions out of it without giving them the revenue tax, which is illogical for crypto that is decentralized, no governance and intermediaries especially with bitcoin. There is no essence in putting tax in bitcoin, however there is a significance of taxes even if we turn the world upside down, tax purpose is for the government to work as long as the public services that we have. In conclusion of mine, the only essential part of this is people who pay taxes in trading crypto is helping their own country's economy.

[Ozero]

I see no essentiality in the  Taxing on Bitcoin as assets as it  has nothing to do with the government and the financial institutions. It was designed to be independent of government agencies and also the technology does not require approval or any function of govenrment in order to process it. Why then should therer be a tax on it.?

To collect taxes, it does not matter at all whether the state took part in so that we could receive a certain profit, from which the tax is calculated. States have the right to charge tax on any type of activity that brings people a profit, regardless of whether it helped us to receive this profit or not.
Here we must proceed from the opposite. If we do not pay taxes on profits in cryptocurrency established by the state, then government agencies can restrict the circulation of cryptocurrency or even ban its circulation. In this case, the cryptocurrency will not develop, that's for sure. Therefore, in general, it is necessary to pay tax on cryptocurrency.

[wack slacker]

Bitcoin is not created by the government, so taxing them is unnecessary. If taxed, do it with bitcoin trading companies and cryptocurrency exchanges. Given the current transaction volume, the crypto market is too small to be taxed. When the crypto market is big enough like the forex market, taxation makes more sense.

[Shimmiry]

Bitcoin is not created by the government, so taxing them is unnecessary. If taxed, do it with bitcoin trading companies and cryptocurrency exchanges. Given the current transaction volume, the crypto market is too small to be taxed. When the crypto market is big enough like the forex market, taxation makes more sense.

In our country, taxes on bitcoin is still a debate. They're still discussing it with the crypto experts. But for me, if ever that they will place tax on bitcoin they should make sure that it is reasonable enough.

There was this article that I've read and it states that any income in whatever form here in the Philippines is taxable according to the national internal revenue code of our country.

(Source: https://philippines.bc.events/news/taxation-of-cryptocurrencies-in-the-philippines-how-are-virtual-currencies-regulated-93106)

[Neconic]

I don't think we should pay taxes at all. Though that won't work since you need tax to build and maintain infrastructure. I don't think crypto should or can be taxed unless it becomes fiat. Why should we pay tax on something we created for ourselves? One day people will appoint a new way of doing things where you don't pay tax but rather fees for everything you do. YOu invest in the infrastructure instead of mindlessly tossing money to the government to waste.

In some countries paying tax almost feels like the wrong thing to do since you know what they will do with it. Buy themselves a new car and house.

Mostly I can agree with you.
If you just trade with btc or hold btc funds in the wallet I don't think we have to pay taxes.
But,  if you exchange crypto to fiat or even pay directly some services with crypto it's different matter.
In second case you should pay tax. 

Daniel, in which country are you living? I think that these are excellent conditions. It seems that your government is promoting holdings in crypto assets. In EU and US you need to pay high taxes on capital gains.

[Daniel91]

I don't think we should pay taxes at all. Though that won't work since you need tax to build and maintain infrastructure. I don't think crypto should or can be taxed unless it becomes fiat. Why should we pay tax on something we created for ourselves? One day people will appoint a new way of doing things where you don't pay tax but rather fees for everything you do. YOu invest in the infrastructure instead of mindlessly tossing money to the government to waste.

In some countries paying tax almost feels like the wrong thing to do since you know what they will do with it. Buy themselves a new car and house.

Mostly I can agree with you.
If you just trade with btc or hold btc funds in the wallet I don't think we have to pay taxes.
But,  if you exchange crypto to fiat or even pay directly some services with crypto it's different matter.
In second case you should pay tax. 

Daniel, in which country are you living? I think that these are excellent conditions. It seems that your government is promoting holdings in crypto assets. In EU and US you need to pay high taxes on capital gains.

I live in Croatia.
Yes, I agree that our government and state have given us good terms as far as the crypto tax is concerned.
We only pay 12% tax and only if we exchange crypto for fiat money.
If we keep crpto for 2 years in the wallet we do not pay any tax.
I think these are very reasonable and fair rules.
Since last year, we have even had the opportunity to sell bitcoin directly in state post offices 

[Russlenat]

I live in Croatia.
Yes, I agree that our government and state have given us good terms as far as the crypto tax is concerned.
We only pay 12% tax and only if we exchange crypto for fiat money.

Interesting law, how does that 12% tax is treated, was that an income tax or something, because IMO exchanging or selling crypto to fiat does not mean profit all the time since we also use fiat to acquire crypto.

If we keep crpto for 2 years in the wallet we do not pay any tax.
I think these are very reasonable and fair rules.
Since last year, we have even had the opportunity to sell bitcoin directly in state post offices 

This one too, I'd like to know something brief about the rules, if you would just care to share though.

[nguyenvl159]

This tax is too high and limits the use of crypto for ordinary people. This exchange is simply needed so that people do not start using crypto on a massive scale. The government thinks this could stop progress.

[Daniel91]

I live in Croatia.
Yes, I agree that our government and state have given us good terms as far as the crypto tax is concerned.
We only pay 12% tax and only if we exchange crypto for fiat money.

Interesting law, how does that 12% tax is treated, was that an income tax or something, because IMO exchanging or selling crypto to fiat does not mean profit all the time since we also use fiat to acquire crypto.

If we keep crpto for 2 years in the wallet we do not pay any tax.
I think these are very reasonable and fair rules.
Since last year, we have even had the opportunity to sell bitcoin directly in state post offices 

This one too, I'd like to know something brief about the rules, if you would just care to share though.

Ok, I'm really not a tax expert but I think we pay the crypto tax as a second income from abroad.
I haven’t gone to the post office to sell bitcoin yet but as far as I’ve heard, it’s very simple.
At the post office, they read the code on our mobile phone at the time of sale and wait to receive confirmation that the transaction has passed.
Everything is done using an application developed by the Croatian company Electrocoin https://electrocoin.hr/en
When the employee at the counter receives confirmation that the transaction has been completed and confirmed, he makes a payment in local currency at the current exchange rate.

[AicecreaME]

It depends on the situation for me. Bitcoin is legalized already in some countries and used as commodity or currency which makes it subjected with taxation.

The topic should be clear enough to pin-point what specifically would be taxed in bitcoin? Since bitcoins are treated as an asset and not really a currency for now, if you use it to buy goods and use some services, it's really necessary for you to be subjected with capital gains tax. And this capital gains tax also depends on the span of time you held bitcoin.

Taxing bitcoin is rational as long as it would not be over 10% tax rate since exceeding that is already too much. After all, it's a currency like fiat that you can use for transactions. However, rules and regulations should be clear on how it would be imposed. No double taxation should happen since it's already abusive if ever.

[coolcoinz]

Bitcoin is not created by the government, so taxing them is unnecessary. If taxed, do it with bitcoin trading companies and cryptocurrency exchanges. Given the current transaction volume, the crypto market is too small to be taxed. When the crypto market is big enough like the forex market, taxation makes more sense.

What about the things you produce by hand like if you were making furniture, your intrellectual property like music or books? All of it is not produced by the government, yet the government takes part of your profit. Life isn't fair and the government is like a leech that sucks your blood every day, but when you try to rip it off it bites of your hand.

[Findingnemo]

Bitcoin is not created by the government, so taxing them is unnecessary. If taxed, do it with bitcoin trading companies and cryptocurrency exchanges. Given the current transaction volume, the crypto market is too small to be taxed. When the crypto market is big enough like the forex market, taxation makes more sense.

You are paying taxes for everything, no matter the price of the product which included in the price itself when you are buying on a supermarket or the street shop you are still paying the taxes.So the government asks taxes from everyone not only from the consumer but we are talking about what is the fair amount which should be in single digit to call it as fair amount.

[mirakal]

This tax is too high and limits the use of crypto for ordinary people. This exchange is simply needed so that people do not start using crypto on a massive scale. The government thinks this could stop progress.

If we are talking of a fix percentage of tax, it's not high only for ordinary people, but also to people who are transacting huge amount of BTC,

Example is the above percentage mentioned by one poster, the percent is 12%, so that depends on the amount you'll transact from bitcoin to fiat.

$1,000 x 12% is $120

$100 x 12% is $12

you see the difference?

[BlackFor3st]

Most of the government are alive because of two reasons, resources that owned and taxes. Meaning tax is very important to every government in order for it to prosper more.

With regards to bitcoin tax, I can't say that it is unreasonable as I am a law abiding citizen and I know how the government works. Governments are doing their best in order to give it's citizen the best service that they can give aside from the governments that are very corrupt. I have no problem if in case our country will put a taxes to bitcoin or crypto currencies as I know that our tax here is only 12% which is pretty far from 20-30% as it is too much if I were to give an opinion.

[john_nautica]

Indeed, the government is thriving because of its resources and the tax being generated from its people. But I do not agree unto the taxation of Bitcoin, as it is not a property of the government. Unless it was converted into flat, then they have the power to ask tax then.

[skarais]

Indeed, the government is thriving because of its resources and the tax being generated from its people. But I do not agree unto the taxation of Bitcoin, as it is not a property of the government. Unless it was converted into flat, then they have the power to ask tax then.

I dont think there are any specific provision regarding bitcoin tax at the moment or maybe I am not well informed. I also dont agree that the government requires bitcoin users to pay taxes on the income they earn from bitcoin or trading other cryptocurrency. But if the government cooperates with exchange, there is a possibility that they will benefit from trader or investor without the trader knowing themselves. I suspect that the fees for trading on a government-approved or cooperated exchange have something to do with taxes because so far in my country there is no official rule that we have to pay taxes on bitcoin earning.

[mksundip]

taxing bitcoin goes through many aspects. there must be an agreement between the government and the bitcoin party. because both must be mutually beneficial for now and in the future. maybe the contents of the agreement if the government imposes taxes, bitcoin will never be banned in the country forever. wow that's a convincing agreement

[dimastegar]

In our country Indonesia. People who hold Bitcoin are not taxed. Although the purchase of goods with Bitcoin is still prohibited. We are free to hold Bitcoin at any value without being taxed. And wouldn't it be funny if states asked for taxes on assets they didn't own. At least we are lucky with the rules in our country that make it easier to hold crypto.

[nasipadang]

20% 30% is property tax or what tax? there are many types of taxes that exist on the government. Even though 20% alone is excessive, especially since the right to tax has no information for what it is, taxes are related to rights and obligations in my opinion. So if you follow the concept of rights and obligations, the government is obliged to provide facilities for cryptocurrency users, if not, then there is the right to sue the government about the tax. I don't want to talk about a lot of political stuff on this board.

[Sapphire915]

In order for Bitcoin to be globally adopted governments should gain revenue for example tax it is necessary for a country to function that helps the people with their programs and to build roads or buildings etc. That can be beneficial for its citizens.
So i agree that Bitcoin should be taxable and it is pseudo-anonymous which is traceable in every transaction that identifies the sender and receiver.

I absolutely agree. Imposing tax on bitcoin is highly beneficial for every country that legalized its usage. This could extremely help the people, especially in health services and other programs that will aid the needy. It could also help to lift up the country's economy. So, for me, its essential.

[roadrunnerjaiv2025]

On one hand, we can view taxing as the first step in the government's plan to take over the crypto world. This may sound too radical but it could be the truth. After all, control is the government's greatest obsession and their greatest fear is, guess what---losing control. It's quite obvious that they're using tax to push crypto users to the wall until we surrender the freedom that makes cryptocurrency unique. When that happens, cryptocurrency will become just a virtual version of fiat money, totally stripped of its decentralizing power. It will have failed Satoshi's intended purpose for it. This will go on until we become completely free from the need to exchange cryptocurrency for fiat money.

On the other hand, we can also view this as an opportunity to educate the government about bitcoin (or the cryptocurrency as a whole)--now that they're paying attention--and how it can benefit the global economy. I think the fear of embracing cryptocurrency emanates mainly from a lack of understanding of it. I saw a recent YouTube video of Warren Buffet blatantly claiming that bitcoin "has no value", and yet eventually ending his statement with "something that I'm not familiar with". In other words, he doesn't know anything about bitcoin. All he knows is that this virtual and therefore can be assumed to lack value.      

[alani123]

It should be noted that absence of regulation doesn't mean that there won't be any taxation.
Absence of specific law only leaves things up to interpretation and a decision on a court could have chilling effects on those that had past profits from cryptocurrency even.
The countries where regulators have made it clear as day that there won't be any taxation are obviously far better off, but sadly not many such cases exist globally.

[mirakal]

It should be noted that absence of regulation doesn't mean that there won't be any taxation.
Absence of specific law only leaves things up to interpretation and a decision on a court could have chilling effects on those that had past profits from cryptocurrency even.
The countries where regulators have made it clear as day that there won't be any taxation are obviously far better off, but sadly not many such cases exist globally.

yes there was none because in general, we all have to pay whenever we get an income, but we could be blind on this one and we just continue to earn without paying since there's no regulation yet, and I don't think the government would go after everyone of us because we are not paying taxes when it's their fault for not making a law that we can follow.

[qwertyup23]

The power to tax is the power to destroy

As famously quoted by Justice Marshall, the taxing power can either be a boon or a bane if the power is unreasonably exercised by the government. When we apply this to bitcoins, the taxing power seems to imply that there is regulation behind it. If cryptocurrencies were to be taxed, then the government would have the power to at least regulate or control its price on the market.
I personally see a big disadvantage once the government taxes cryptocurrencies as this will aim to regulate its price on the market. With regulation comes potential manipulation and control.

[ghost424]

Taxes on Cryptocurrency really sounds unreasonable since its all on the Internet. As long as you have access with the Internet, you can access all kinds of Cryptocurrency and that is why Cryptocurrency is useful. Its also not reasonable that you have to pay tax when you will use the Internet, that just depends on how can you access the Internet since you are already paying for the Service providers to give you access and they do not care how would you use it.

[TopExchanger]

Bitcoin taxation is essential and inevitable part of its adoption.

[Vatimins]

     Well, what can I say? Greed is everything in this world. When it comes to greed, most of the people in this world would go to extreme lengths to satisfy themselves. Even at the expense of others. As long as they get to satisfy their own greed, they don't care about anything else. And which place can you find the greediest of the greediest? Of course, the government. If tax is present in a country when it comes to bitcoins, then nothing else to do but to live with it no matter how unreasonable it may be. Small people like us are just powerless against governments.

[goldade]

If the government places taxes on bitcoin then it means they would be admitting that bitcoin is legal and is here to stay. If they would not admit this, then it is unreasonable to place taxes on what they deemed illegal.
However, if the government did want to place taxes on bitcoin, there are a lot of questions to answer.
Are the taxes based on the wallet or the coins in the wallet?
Is it only bitcoin that will be taxed? What of altcoins? There are several coins that I can convert my bitcoin into to avoid been taxed?

At this stage, until proper measures are put into place, it is unreasonable to place taxes on bitcoin

[Daniel91]

I think this is what we are trying to move away from. Taxing cryptocurrency by the government is doing what they do best - make people poor.

It's not quite as simple as it seems.
Taxes also serve to cover the health services of the poor, for pensions,  social services etc.
Is it ok to be exempt from paying tax on crypto earnings  and use all these services for free  (at least in Europe )?
I think that Croatian government solved this issue very well.
We pay taxes on crypto earnings only if we exchange our crypto funds to fiat 
Tax is only 12 %.

[DatKing]

I think taking taxes for Bitcoin usage is not reasonable at all. Because it isn't like fiat money whose control is on the government. But I understand that regardless of Bitcoin being decentralized, governments would like to lay a tax on Bitcoin. However, 20-30% isn't fair. It should be as much as at a reasonable level.

[kotajikikox]

Indeed, the government is thriving because of its resources and the tax being generated from its people. But I do not agree unto the taxation of Bitcoin, as it is not a property of the government. Unless it was converted into flat, then they have the power to ask tax then.

How can they tax Bitcoin if wasn't converted into Fiat?i think the Money gram or other remittance company that the government required taxes.
or those who is in Mining that had been taxed high for buying their rigs?
anyway for me this is reasonable because everything that can generate us Income must be taxed and no one must free from this.

[peter0425]

I think this is what we are trying to move away from. Taxing cryptocurrency by the government is doing what they do best - make people poor.

It's not quite as simple as it seems.
Taxes also serve to cover the health services of the poor, for pensions,  social services etc.
Is it ok to be exempt from paying tax on crypto earnings  and use all these services for free  (at least in Europe )?
I think that Croatian government solved this issue very well.
We pay taxes on crypto earnings only if we exchange our crypto funds to fiat 
Tax is only 12 %.

I really don't understand why people are denying to be taxed when they are profiting?and yeah you are correct mate that taxes goes to not only the poor people but also those in the middle or even riches since they are using government facilities in which produced from the taxes.
at first i don't like being taxed but when i come to work in government?then i understand everything.

[Natalim]

I think this is what we are trying to move away from. Taxing cryptocurrency by the government is doing what they do best - make people poor.

It's not quite as simple as it seems.
Taxes also serve to cover the health services of the poor, for pensions,  social services etc.
Is it ok to be exempt from paying tax on crypto earnings  and use all these services for free  (at least in Europe )?
I think that Croatian government solved this issue very well.
We pay taxes on crypto earnings only if we exchange our crypto funds to fiat 
Tax is only 12 %.

I really don't understand why people are denying to be taxed when they are profiting?and yeah you are correct mate that taxes goes to not only the poor people but also those in the middle or even riches since they are using government facilities in which produced from the taxes.
at first i don't like being taxed but when i come to work in government?then i understand everything.

No, tax is our responsibility, so whether we like it or not, we have to pay taxes as we will be held legally liable if we evade taxes.

Regardless on how our government will spend the taxes, we should do our responsibility. I know there are corrupt countries where government officials and employees just steal our taxes, we hate that but it's not the reason for us to be exempt ourselves from not paying taxes, we are just unfortunate we belong to a corrupt country.

[ILuckyGuyI]

I think tax can be applied for Bitcoin as long as its rate is not too high. I know that Bitcoin is decentralized and no government has the control of it. But if people want to use Bitcoin, most of the countries would like to apply tax for its usage. There are countries that don't apply taxes and I hope the number of countries like that will increase. In the end, I would prefer not paying tax than the opposite for a decentralized currency.

[Argoo]

I think taking taxes for Bitcoin usage is not reasonable at all. Because it isn't like fiat money whose control is on the government. But I understand that regardless of Bitcoin being decentralized, governments would like to lay a tax on Bitcoin. However, 20-30% isn't fair. It should be as much as at a reasonable level.

The government of any state can and has the right to establish a tax on any activity of a citizen of this state that brings profit. At the same time, it is not at all necessary for the state to somehow help people to earn this profit. Therefore, it will be quite normal if the state sets a reasonable percentage of tax on profits from cryptocurrency. It is advisable for us to pay this tax, since the government can take its own measures up to prohibiting the circulation of cryptocurrency on its territory. This will not completely lead to the disappearance of the cryptocurrency in this state, however, this ban will cause serious trouble for the owners of the cryptocurrency.

[bitbollo]

In Italy there is a form of taxation for people that hold bitcoin. But they should have an economic surplus of at least 50k euro. Over 50k they should pay some taxes like any other gains (like stocks bonds etc).
I have followed some of these discussions made by these politicians. They are totally unaware of what they are doing since they are not taxing other crypto, or they have not a system that can collect taxes from people that exchange money in foreign countries.
moreover if I don't declare my coins (not taken from an exchange with KYC) I am definitely not allowed to declare anything...

My opinion? I am not agree with bitcoin taxation since it sound like an oxymoron.
Ok take taxes from big groups (likewise exchange or people that work/earn with crypto after a certain limit) but just a small percentage of their revenue, and not a sort of flat (heavy!) tax of what they are going to earn.
I don't have to pay taxes if I take my money in FIAT currency. Why I should pay if I exchange in bitcoin?

[semobo]

Taxes on our income are more essential to fuel our economy in the development path, but we are already paying taxes to everything but still those are not used in the most effective ways which made the people to think taxes on cryptos are inappropriate.But we can't do anything on the tax implementation but it should be a fair value of people really want to report their earnings or else every earnings will go into black money.