Bitcoin Forum
June 20, 2019, 10:16:47 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Poll
Question: Are you taxed on Bitcoin?
Yes - 8 (25.8%)
No - 23 (74.2%)
Total Voters: 31

Pages: « 1 2 3 [4] 5 »  All
  Print  
Author Topic: Are you taxed on Bitcoin?  (Read 1077 times)
FLoving
Hero Member
*****
Offline Offline

Activity: 854
Merit: 506


View Profile
December 01, 2017, 11:46:38 PM
 #61

Are you taxed on Bitcoin?
I have both as answer. Like if my money is in Bitcoin then I do not need to pay tax in my country while at the time when I have to withdraw my money to cash and to use it then I pay tax on that.
1561025807
Hero Member
*
Offline Offline

Posts: 1561025807

View Profile Personal Message (Offline)

Ignore
1561025807
Reply with quote  #2

1561025807
Report to moderator
1561025807
Hero Member
*
Offline Offline

Posts: 1561025807

View Profile Personal Message (Offline)

Ignore
1561025807
Reply with quote  #2

1561025807
Report to moderator
There are several different types of Bitcoin clients. Header-only clients like Bither trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1561025807
Hero Member
*
Offline Offline

Posts: 1561025807

View Profile Personal Message (Offline)

Ignore
1561025807
Reply with quote  #2

1561025807
Report to moderator
1561025807
Hero Member
*
Offline Offline

Posts: 1561025807

View Profile Personal Message (Offline)

Ignore
1561025807
Reply with quote  #2

1561025807
Report to moderator
1561025807
Hero Member
*
Offline Offline

Posts: 1561025807

View Profile Personal Message (Offline)

Ignore
1561025807
Reply with quote  #2

1561025807
Report to moderator
MakeMoneyBtc
Full Member
***
Offline Offline

Activity: 602
Merit: 115


Free Crypto in Stake.com Telegram t.me/StakeCasino


View Profile
December 01, 2017, 11:51:38 PM
 #62

Right now, I am not being taxed. The government from my country dont spend their time to add taxes of bitcoin because only a few people actually earn profits from it.

I dont think that any country ask for taxes from people who use Bitcoin but I am sure that soon governments, especially the big ones, will add taxes because already a big part of the population use bitcoin and earns big profits from it. Also the price is rapidly increasing so a lot of new people are investing in Bitcoin.

Soon, someone from government will notice that people earn good profits from bitcoin and start working on a law to apply taxes for cryptocurrencies. That is going to be pretty hard because bitcoin is a decentralized coin and also the transactions are invisible(cant know who is sending or receiving) for them.


MaggieDeng
Newbie
*
Offline Offline

Activity: 40
Merit: 0


View Profile WWW
December 01, 2017, 11:55:28 PM
 #63

It's more like the use tax thing. Actually in California, if you buy goods out of states and ship over back to use them in California, you are supposed to pay use tax. But so far, not many people claim that.
In theory, we all need to pay tax in BTC, even by the time BTC mined out. However, not many people claim to pay tax so far.
cl37007
Full Member
***
Offline Offline

Activity: 364
Merit: 100


View Profile
December 01, 2017, 11:56:00 PM
 #64

Presently no but who knows for the future. Governments will work out sneaky ways to tax us on Bitcoin, they have to or else they lose out big time. Turbulent times ahead no doubt

DeepOnion    ▬▬  Anonymous and Untraceable  ▬▬    ENJOY YOUR PRIVACY  •  JOIN DEEPONION
▐▐▐▐▐▐▐▐   ANN  Whitepaper  Facebook  Twitter  Telegram  Discord    ▌▌▌▌▌▌▌▌
Get $ONION  (✔Cryptopia  ✔KuCoin)  |  VoteCentral  Register NOW!  |  Download DeepOnion
Clavulanic
Sr. Member
****
Offline Offline

Activity: 644
Merit: 250


View Profile
December 01, 2017, 11:59:11 PM
 #65

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..

Also with me I wasn't taxed but in the trading sites there was a charges on the service fee and its more like taxation but not with the government. Its for the trading site's business inncome and yet its going good because the fee is not so expensive. Hopefully the government will not tax the users but taxation should be shouldered by the trading site itself.
bribed
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
December 02, 2017, 12:00:52 AM
 #66

Yes of course. In my opinion its not worth the risk going to jail for crypto. I mean, everyone has to pay taxes, so why shouldnt you just because you trade with cryptocurrencies? Sure it can seem unfair when there are countries that dont tax crypto yet, but thats life.
Ultegra134
Sr. Member
****
Offline Offline

Activity: 322
Merit: 252


Personal Text: www.codex.one


View Profile
December 02, 2017, 01:04:50 AM
 #67

Anything recognized as an income can be taxed, if you are using bank ATMs to withdraw any money made and exchanged into Bitcoin, chances are you are going to get taxed for it. You can avoid it though, by using Bitcoin ATMs, which have zero correlation with the government's watch, thus, your transactions are purely invisible for them.

                  ░    ████▒                
                ░███   ░█████               
               ███████   ▒████▓             
               ████████    █████░           
            ░    ████████   ▒█████          
          ▒███    ▒███████░   █████░        
         ██████▒    ████████   ▒█████       
       ░█████████    ░███████    █████▒     
      ████████████    ░████████   █████░    
       ██████████░   █████████   █████▒     
         ███████    ████████   ▒█████       
          ████    █████████   █████░        
            █   ░████████   ▒█████          
               █████████   █████░           
               ███████   ░█████             
                ▒███▒  ░█████░              
                  ▒    ████▒                
CODEX
   www.codex.one
]|[
  CRYPTO CURRENCY EXCHANGE OF TOMORROW ■ ■
ANN | BOUNTY | REDDIT | TELEGRAM | TWITTER | FACEBOOK | MEDIUM
]|[
LOW FEES | LICENSED
ECC API | TRADE MINING
AFFILIATE & LOYALTY PROGRAM
TheBusinessMan
Newbie
*
Offline Offline

Activity: 54
Merit: 0


View Profile
December 02, 2017, 01:11:09 AM
 #68

Not yet.. just wait til more people here start to use it, is like gambling they'r looking to regulate internet gambling.
bloodyvio
Full Member
***
Offline Offline

Activity: 532
Merit: 102



View Profile
December 02, 2017, 01:11:22 AM
 #69

In my country (Indonesia) bitcoin transaction is illegal.
So all bitcoin transactions go straight into my bank account without being charged by a tax.  Tongue

bribed
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
December 02, 2017, 01:52:40 AM
 #70

In my country (Indonesia) bitcoin transaction is illegal.
So all bitcoin transactions go straight into my bank account without being charged by a tax.  Tongue

Wait, so do you mean that only transactions, meaning sending bitcoin to another address is illegal, or is Bitcoin in general illegal in Indonesia? If the latter is the case, then cashing out bitcoin earnings should also be considered illegal right? Sorry if I dont understand this right. Would appreciate if you clarify.
loragean03
Full Member
***
Offline Offline

Activity: 394
Merit: 100


View Profile
December 02, 2017, 02:17:48 AM
 #71

Are you taxed on Bitcoin?

as of now there are no taxes related in bitcoin in our country, its only transactions fees are been deducted in my wallet when I use bitcoin on some of my transactions. furthermore there are no news that It will implement soon.
maknassy
Member
**
Offline Offline

Activity: 158
Merit: 11


View Profile
December 02, 2017, 03:53:16 AM
 #72

no
I think that those who  have a small amounts of bitcoin shouldn't pay taxes.
valisa
Full Member
***
Offline Offline

Activity: 364
Merit: 100


View Profile
December 02, 2017, 04:22:14 AM
 #73

in my country bitcoin masil illegal, so bitcoin users still can not be in taxes, because the state authorities have not legalized the use of bitcoin. because it is impossible for the state to withhold taxes on a product that has not been legalized
matchi2011
Sr. Member
****
Offline Offline

Activity: 644
Merit: 253


View Profile
December 02, 2017, 04:43:48 AM
 #74

in my country bitcoin masil illegal, so bitcoin users still can not be in taxes, because the state authorities have not legalized the use of bitcoin. because it is impossible for the state to withhold taxes on a product that has not been legalized

Where are you then? Are you able to trade illegally? What are the repercussions? I'm not sure how that goes for countries that illegalize btc. I kniw china banned exchanges but are they penalizing people who find ways to run around the ban? I don't think there's a regulation to tax btc yet

   ██   
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
   ██   
   ██   
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
█  ██  █
   ██   
Sasuke102001
Full Member
***
Offline Offline

Activity: 280
Merit: 111


View Profile
December 02, 2017, 04:51:38 AM
 #75

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..
I would like to oppose that statement, sir, because I am a resident of India as well and by that, I can say as every other citizen of any country over the globe recognizes bitcoin as a way of earning same goes with the citizens of India who know what Bitcoin is. As you said that all bitcoin earnings are directly linked to our earnings and thus we are taxed a certain amount, I don't see that happening here, sir. There are some wallets to store bitcoin which says to connect our bank accounts but no one really uses them. And recently as our honorable Finance Minister of India Mr.Arun Jaitley has said that Bitcoin or any other cryptocurrency will not be considered as a legal tender. So if a currency is not a legal tender so there is no chance to get taxed over it right.
Marucya
Full Member
***
Offline Offline

Activity: 266
Merit: 100



View Profile
December 02, 2017, 05:10:08 AM
 #76

So far, in my country (Ukraine), the law does not provide for any rules on taxation that would be related to income received from activities with crypto currency. In addition, this is probably the only country in which a bill has been introduced in its legislative body that exempts from taxation any activity related to income from the crypto currency. I hope that this project will be adopted and Ukraine will be one of the few countries with preferential taxation in the field of crypto currency.
jsscswan
Full Member
***
Offline Offline

Activity: 266
Merit: 100



View Profile
December 02, 2017, 05:17:17 AM
 #77

Of course not, I think the government can not control the tax on the bitcoin income we have. The government can not make tax withdrawals before they legalize bitcoin and make income tax rules from bitcoin itself. Things are very complicated.

_____________________A I T H E O N_____________________       [   JOIN THE WHITELIST   ]
The digital ecosystem simplifying your world through A.I., robotic, and human symbiosis
██ ███     WHITEPAPER     |     TELEGRAM     |     TWITTER     |     INSTAGRAM     ███ ██
ruthbabe
Sr. Member
****
Offline Offline

Activity: 756
Merit: 275



View Profile WWW
December 02, 2017, 05:29:17 AM
 #78

Are you taxed on Bitcoin?

Definitely no! It's because I'm not American and/or US citizen and I don't live in the United States. I think only American citizen and those living in the United States are being taxed.
affandi
Hero Member
*****
Offline Offline

Activity: 486
Merit: 500



View Profile
December 02, 2017, 05:46:03 AM
 #79

the percentage of tax in my country is 10% of income tax, the purchase of goods or food. But for bitcoin, until now there is no tax order applied, maybe also because bitcoin here has not been legal right. there are just a few pieces every time I convert bitcoin into money.



                                            ▄████▀
████▄               ▄████       ▗▟██████████████▄    ▐██████████████████▙▖
██████▖           ▗██████     ▗▟██████████████████▄  ▐████████████████████▌
███████▙         ▟███████    ▄█████          ▀████▀  ▐████            ▀████
█████████▖     ▗█████████   ▐████▀             ▀▀    ▐████            ▄███▌
█████▀████▙   ▟████▀█████   ████▌                    ▐███████████████████▌
█████ ▝█████▄█████▘ █████  ▐████                     ▐████████████████████▙▖
█████   ▜███████▛   █████   ████▌                    ▐████            ▀█████▖
█████    ▝█████▘    █████   ▐████▄            ▄██▄   ▐████             ▐█████
█████      ▀█▀      █████    ▀█████▄▄▄▄▄▄▄▄▄▄██████  ▐████            ▄█████▌
█████               █████     ▝██████████████████▀   ▐█████████████████████▛
█████               █████     ▄████████████████▀     ▐███████████████████▛▘
                             ▀▀▀▀▀▀
MyCryptoBank
CRYPTOBANK FOR CRYPTOCOMMUNITY
.
.Legal and Reliable Crypto Bank.

▄███████████▄     
██▀       ▐█▀█▄   
██        ▐█  ▀█▄ 
██        ▐█    ▀█▄
██        ▝▀▀▀▀▀▀██
██               ██
██  ███████████  ██
██               ██
██  ██████       ██
██               ██
██▄             ▄██
▀█████████████████▀
WHITEPAPER ────────────────────────────
.
Bitcoincole
Full Member
***
Offline Offline

Activity: 504
Merit: 102



View Profile
December 02, 2017, 06:06:00 AM
 #80

the percentage of tax in my country is 10% of income tax, the purchase of goods or food. But for bitcoin, until now there is no tax order applied, maybe also because bitcoin here has not been legal right. there are just a few pieces every time I convert bitcoin into money.



I'm not being taxed by bitcoin whatever earnings that i have, payments by bitcoin is directly through to my wallet address. That the essential of digital payment now a days. If bitcoin are considered as legal the taxed are already in the hands of the government.
Pages: « 1 2 3 [4] 5 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!