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Question: Are you taxed on Bitcoin?
Yes - 8 (25.8%)
No - 23 (74.2%)
Total Voters: 31

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Oliver A
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December 01, 2017, 10:13:29 AM
 #1

Are you taxed on Bitcoin?
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fiulpro
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December 01, 2017, 10:17:47 AM
 #2

Well you know in most of the countries like India ^ bitcoins are recognized as a way of income thus.. whatever you earn from bitcoins is directly linked with your earnings.. and thus they are taxed after a certain amount .. which is roughly 2/7 th of the present bitcoin rate.

Thus if someone is earning that much from bitcoins then..they have to pay taxes for sure..also if someone is just earning a dollar or two they are set out of this scheme..I mean what tax will you put into it..

Thus I am presently not taxed because I don't own even 0.5 bitcoins thus yes there are people who are taxed but not.. those who earn less..
steadyrice
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December 01, 2017, 10:23:48 AM
 #3

Are you taxed on Bitcoin?

You mean as of now, or ideally? The laws change based on the country of course, but generally if you have a lot of coins, you probably won't be able to cash them out unless you declare them and pay taxes. However, the legislation is unclear in almost all of the countries so far.

FrueGreads
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December 01, 2017, 10:35:20 AM
 #4

Are you taxed on Bitcoin?

Right now I'm not being taxed. I hold most of the bitcoins I have, and only withdraw when necessary. Every time I exchange some coins and withdraw them to my bank I usually keep the transactions low so no alerts are raised at banks (of course I could not raise alerts even If I wanted to xD). I'm not trying to evade taxes, and I actually asked if I had to declare anything. The answered that bitcoin are still not regulated in my country so no one really cares right now, and I don't have to do anything.

I will keep this line of action though, because it would be unfair if they decided that I would have to pay something from my last transactions. So I will try to keep then untraceable right now, and if the law changes, and I have to pay taxes, I will start doing it, but I don't intend to pay taxes from my last transactions, since they were the ones saying I didn't have to.
learner 7
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December 01, 2017, 10:59:20 AM
 #5

I am not taxed with bitcoin because there is no legislation developed. Why are governments not in a hurry to do this. But in the future it will become mandatory.
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December 01, 2017, 11:01:50 AM
 #6

Are you taxed on Bitcoin?
I am not taxed on Bitcoin. The Government shouldn't have a say on how to tax something that isn't there's in the very first place.

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Arslada
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December 01, 2017, 11:03:08 AM
 #7

NO, because I donť have to.
newinbtc
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December 01, 2017, 11:04:09 AM
 #8

Yes, I need to pay tax on bitcoin when i will withdraw this into my bank account as per government rules it will not charge me until i Hold it and spent online in any other purpose... Our Govement have set the limit of each user Per year that we can do without tax ... About 0.40 Btc Each User as per current rate

Its not by government be from safe side I need to pay tax...... on my earning
di.ako.toh
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December 01, 2017, 11:20:05 AM
 #9

So far, i have'nt experience taxes on Bitcoin when converted into fiat, also with my peers they are not taxed yet too. Besides bitcoin is not that kinda known in our country, so there is no taxes imposed yet.

Destroyeroff98
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December 01, 2017, 11:23:17 AM
 #10

In my country, Bitcoin is not taxed. I hope that in the near future such a tax will not be introduced.  Grin

shoreno
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December 01, 2017, 11:27:07 AM
 #11

Are you taxed on Bitcoin?

bitcoin is decentralized and not regulated, controlled or hold by governments therfor i can surely 100% say that we arent taxed and i wont obviously agree to that insane idea because i already feel that im charged for a tax due the expensive transaction fees nowadays.


Thus if someone is earning that much from bitcoins then..they have to pay taxes for sure..also if someone is just earning a dollar or two they are set out of this scheme..I mean what tax will you put into it..

it doesnt matter how big or low your earnings are. bitcoin is still not taxed as i stated above.

alegotardo
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December 01, 2017, 11:30:49 AM
 #12

I have never been taxed, because in Brazil they are trying to regularize BTC.
Our politicians have the custom of levying tax on top of everything.
So... for sure still in 2018 we will start paying tax on the BTC (in the exchange' withdrawals)
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December 01, 2017, 11:33:11 AM
 #13

Yes, I need to pay tax on bitcoin when i will withdraw this into my bank account as per government rules it will not charge me until i Hold it and spent online in any other purpose... Our Govement have set the limit of each user Per year that we can do without tax ... About 0.40 Btc Each User as per current rate

Its not by government be from safe side I need to pay tax...... on my earning
I think still there is no such income tax has announced on bitcoin by any country. In my i think our government still have idea about bitcoin therefore there is no such tax on bitcoin by our country. In future when bitcoin will become legal then we an expect that our government will put tax on bitcoin. But i think it will take a lot of time because still the bitcoin users are very few in my country.  
bitterguy28
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December 01, 2017, 11:35:50 AM
 #14

Are you taxed on Bitcoin?

i think yes i pay taxes being a bitcoin user, but  i'm not pay direct to government because know in every transaction i made in my local wallet to convert bitcoin into fiat money the taxe including in the transaction fee, beacuse my local wallet i use is legit registered to the government.

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December 01, 2017, 11:42:41 AM
 #15

I am not directly taxed on my bitcoin or even altcoin earmings. Quite shocking for me learning from this thread that Indians are taxed on their earnings by their government. I don't understnd how they'll being taxed too, I mean, since bitcoin is decentrlized, how would the government know if you own one or not? Good thing my country does not require taxes on bitcoins yet at the moment.




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December 01, 2017, 11:48:55 AM
 #16

Are you taxed on Bitcoin?

I dont think i am taxed on my bitcoins yet except if the banks are indirectly doing that already; but no notification as regards this. Taxation on bitcoin earnings can only start fully after the government has come in to partake of this. And definitely, there will be other involvement on the government's side aside just taxation from individuals. I believe the use of the blockchain it self will be properly adopted. And this requires more learning and technology improvements.

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shouter
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December 01, 2017, 11:51:55 AM
 #17

We all pay taxes when we convert our bitcoins into some physical currency (transaction fee). As for the bitcoins in our wallets, I do not know.
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December 01, 2017, 11:52:09 AM
 #18

tax laws in my country are a little different and are not as bad as countries like US. but so far the government recognizes bitcoin as a currency but they have not said anything about taxes regarding bitcoin.
and so far whenever i bought bitcoin or even a couple times when i sold some, i used a peer to peer way not an exchange and there is no way of taxing that.

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December 01, 2017, 11:52:24 AM
 #19

Not in my country. They don't charge me taxes and i don't think they'll bother to find out that im using Bitcoin or any cryptocurrencies. I think they will charge me tax if i report my income statement. But that's not gonna happen. I'll let them find out before i pay for what they charge me. Actually in my country (which is Philippines), there's no such law pertaining to digital currencies or cryptocurrencies. But im willing to comply if ever they implemented such law. But im sure im paying tax whenever i conver my btc to fiat.

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December 01, 2017, 04:05:23 PM
 #20

I can exchange my bitcoins with local traders wich usually buy and sell at marketplace value, some of them charge around 50 dollars for those service, but if i wanna to exchange all my coins i will have to pay a tax since i will get a big value and here were i live i do have to pay a 15% from profits i make, knowing i had bought my coins at 500 dollars, its a huge value for a fee, im waiting for a friendly law, otherwise i will cashout tiny ammounts over the year.
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