Best Solution for taxes

[Broly46]

Yeah, pay up your taxes, be a decent human being and contribute to the society, we need more good personality.

[1714061153]

1714061153

[gantez]

Yeah, pay up your taxes, be a decent human being and contribute to the society, we need more good personality.

Tax evasion is a draw back to the economy. The payment should be made approximately. A country that is friendly with bitcoin and charge tax in bitcoin is more secured to get citizens to pay because blockchain is open to everyone access.

[goldade]

I do not think evasion of taxes is beneficial to a country's economy. One should know that the economy of any country is sustained and maintained by the taxes paid by its citizens.
For the crypto earners, I do not believe the government would accept a decentralized system such as the Blockchain technology which is totally not in the control, just yet. They wouldn't accept a system that is out of their control, at least not yet. They'd only find a system to accommodate the crypto earners, at least over the coins they've converted to fiat until a better system is put in place to accomplish this

[Hydrogen]

The optimal policy for taxes depends upon which of the following stances a person personally subscribes to.

Stance #1  Free markets and the private sector are better suited to solving problems, elevating standard of living and creating innovation than governments.

Stance #2  Governments are better at solving problems, elevating standard of living and solving problems society faces than free markets or the private sector.

If most of our progress, new inventions, innnovations and standard of living come from the private sector -- the logical environment to pursue is one of low taxation. Low taxes guarantee more money going to free markets and the private sector, which translates to greater progress and elevated standard of living.

If however governments are better sources of innovation and progress than free markets or capitalism, then higher taxes make more sense.

[Taskford]

Not good for you to avoid those taxes since in the first place you are the one who will suffer since if many people will have the same mindset as you then provably the economy of the country where are you in will collapsed since the government cannot get any funds to use on developing the country. Just accept that it's your obligation to pay and help your country.

[Rodeo02]

Not good for you to avoid those taxes since in the first place you are the one who will suffer since if many people will have the same mindset as you then provably the economy of the country where are you in will collapsed since the government cannot get any funds to use on developing the country. Just accept that it's your obligation to pay and help your country.

As human its normal for every one to pay taxes it is your obligation to your country it is also a good support for further economic growth . if you know you have the ability to pay your obligation pay them even no one see its your job to do don't you ever think about avoiding tax since if proven guilty you  will be charged here after.

As for OP he want to make it automatically deducted every time you send balance to an address which impossible to happen by now .

[teosanru]

Is to take taxes of each transactions automaticly some small  %


Its beneficial idea and smart and sustainable way.
And blockchain Technology can be helpful to make it this!


There is no need for tax office to take your tax declarations!!
As we all use internet bank so Every transaction we do the small% goes to government Automaticly.

And government will be on blockchain and Everybody will see the balance where the money goes and so.

Transparent Easy and sustainable

Think about how many transactions people do online each day?  If Even little% to be taken... The government will be Strong because more money Exchanges more transactions means more Economic actvity and more Economic actvity the more government will get taxes.

This sort of techniques is called tax deducted at source or withholding tax. But for withholding tax to be active we need to have a different blockchain or a different cryptocurrency as this is not possible on Bitcoin without a Hard Fork. But yes even then there needs to be seggretgstion between personal transaction and business transactions only then this idea would be successful why would I want to get tax deducted on a transaction or reimbursement that I send to my friend?

[Xembin]

Never you try to avoid tax in your country because if you do it will be so difficult for you to make a good profit like the way others are making it in the environment because they paid their tax. Every government have tax force who are in charge of taxe collector in the environment. If you fail to pay your tax it will be difficult for you to make a good profit.
Many country use tax to develop their economy for the benefit of the citizens. Pay your taxes regularly according to the law of the country. I think pay your taxes regularly is the best solution not to find yourself in the hands of the tax forces in the country.

[whyrqa]

One way or another, I have a positive attitude to taxes and it is important that they are not disastrous for business and for an ordinary person. All taxes fill the state budget, which finances social programs, government services, and the army. And if we talk about taxes for a cryptocurrency user, then everything depends primarily on the specific legislation in the respective country. In Ukraine, where I live, there are certain minimums of funds that I can comment on with cryptocurrency in Fiat, while these transactions will not be taxed and I will not even be required to provide passport data.

[CarnagexD]

Yeah, pay up your taxes, be a decent human being and contribute to the society, we need more good personality.

Tax evasion is a draw back to the economy.

This isn't about tax evading, OP suggested a new method of getting tax by the government which most of us think that will not work since there is more offline transaction than online transaction. We all want transparency due to massive corruption every where in the government, but the idea is vaguely pronounced. I guess it will not work.

A country that is friendly with bitcoin and charge tax in bitcoin is more secured to get citizens to pay because blockchain is open to everyone access.

Taxing bitcoin isn't friendly at all, imagine making a profit out of it from a long term holding and you need to pay for taxes 

[Nhor1011]

Taxation is the government way to sustain the economy. If you are a good tax payer then you contribute for the development of the Country. If ever government put taxes in cryptocurrency ,we can't avoid it but for now I think  the government are still finding a way on how  to put taxes in a decentralized cryptocurrency.

[cryptoperkele]

Why on earth there are so many people on this thread that think OP was speaking about avoiding taxes? He was talking about an idea of automatizing them. But imho this is just oversimplified view on taxes.

OP definitely is onto something but paying taxes based automatically based on transactions isn't really the way. I mean if that would be a good way to do it we would now pay our taxes just from fiat money transactions.

Point from Cnut237 for example was good:

Nice idea, but I think this overlooks the fact that (ideally) taxation needs to be progressive.
If say everything is taxed at a flat 20%, then someone on the breadline pays the same percentage tax as a billionaire.
You also have the issue of determining what is income (and how money in is balanced against money out), what is profit, etc.

[Cootie]

Is to take taxes of each transactions automaticly some small  %


Its beneficial idea and smart and sustainable way.
And blockchain Technology can be helpful to make it this!


There is no need for tax office to take your tax declarations!!
As we all use internet bank so Every transaction we do the small% goes to government Automaticly.

And government will be on blockchain and Everybody will see the balance where the money goes and so.

Transparent Easy and sustainable

Think about how many transactions people do online each day?  If Even little% to be taken... The government will be Strong because more money Exchanges more transactions means more Economic actvity and more Economic actvity the more government will get taxes.

That's actually a good idea. But it would take time for developing country to adopt to these kinds of technology. Some countries just have enough resources yet to be able to implement this. And also, even after this, you can't still be sure if these taxes will be going to good use. As long as the management is greedy and corrupt, this initiative is still futile. We must focused first on the management of the before the tax implementation itself.

[TGD]

You can't avoid tax, the best way to avoid government and officials bodies problems is to pay that tax. Many companies have been ruin because of they chose to dodge tax. They need your tax to sustain the economy.
Some industries have fully adopt blockchain in different sectors, the problem is, the government will never approve a system that isn't favorable to the cycle of their system.

His goal on creating this thread is not to avoid tax rather to implement tax on blockchain transaction. You should read carefully what you are replying for.


This is a good initiative but as already stated by many user above. We have different tax percentage based on our financial status. I believe its still better to annually summarize your tax because records is always available on the blockchain. If ever your wallet provider implement add the feature that already determines your right tax percentage then this will be possible because they can set the fee appropriate to your tax.

This will be possible if the government or a 3rd party create a crypto wallet dedicated for tax extraction. An official crypto wallet for a certain country.

[Coroline]

This will be possible if the government or a 3rd party create a crypto wallet dedicated for tax extraction. An official crypto wallet for a certain country.

If the processing and tracking of data for transacting users is to determine the taxes carried out by the government, then at least there will be a large-scale KYC process that must be carried out by the governments of each country. Only if the tax is withheld when Bitcoin is in the state.

For the problem of varying the tax percentage for each country, it can be solved by hitting the average value for each country. This of course does not require KYC because the tax transaction process will not be carried out through the government, but what happens is that no trusted agency manages the money from the tax. And this is dangerous

[Shasha80]

It's actually a good idea to impose taxes using blockchain technology, but the problem is not all countries accept a decentralized
system such as blockchain technology. Although it is true that tax payments using blockchain technology will be more transparent.
But it is better if in order to be optimal in its implementation, the government needs to create their own cryptocurrency. Although
I am still not sure that this will actually be realized.

[YOSHIE]

Think about how many transactions people do online each day? 

Overall, the most daily transactions made by the crypto community in my country are around $ 78 thousand-110 thousand, this is included in all existing exchanges, official.

Indeed it is small, with a potential of around $ 1000 in state revenue from crypto transactions in one day, if multiplied annually around $ 260 thousand annually, that's the current reference if multiplied by the percentage 0.01%.

From an economic point of view, the government has an additional tax that increases, since the tax on crypto in the country is based on Law No. 99/2018, with a provision of pph estimated at "0.01% currently in effect.

Now 100% accepted, both CEO and community, any cryptro exchange operating in my country welcomes the current government policies, although, there are some who argue that 0.01% is too big, however, it is not a serious problem at the moment.

[goaldigger]

Our government will not participate on this one, they can't be transparent easily because they are all corrupt so this solution wont work in the first place. We are paying the taxes through exchanges and some are declaring all their income including the crypto profit, they have to pay the taxes.

Blockchain technology can help the government a lot not just by imposing and be transparent about the taxes, it can also help the economy grow. If there's a faster way to transact with the government, blockchain technology can help us and can lessen the paper works being asked by the government every time you transact with them.

[Genemind]

The problem about this is how will the government keep track of the owner of each wallet and which transaction came from what country. If this will require KYC and you needing to provide your identity before being involved in crypto, this will beat the purpose of crypto which is privacy.

[countryfree]

What a poor topic!

With me living tax-free for 23 years, I was expecting to find here some new trick to screw the taxman... I'm always surprised to see that some people enjoy paying tax. I'll them a secret: paying no tax is better. I'm paying property tax on my houses, that's more than enough.