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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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Author Topic: Are you taxed on Bitcoin?  (Read 1065 times)
HabBear
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December 02, 2017, 06:09:41 AM
 #81

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

What country do you live in?

Of course not, I think the government can not control the tax on the bitcoin income we have.

The government (any government) certainly can control the tax that is expected to be paid.

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.

And you're totally right! If governments expect to assess tax on Bitcoin or cryptocurrency, they need to provide very clear, concise instructions on what will be taxed and how. They can't expect their populus to adhere to their desires if they don't communicate what the laws are and how to follow them.

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mward19
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December 02, 2017, 06:10:47 AM
 #82

It should work as any other investment not taxed until that investment is turned into usd.
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December 02, 2017, 06:13:16 AM
 #83

No I don't have to pay tax for my Bitcoin income and I believe that for now there are nobody has to pay also cause Bitcoin is not leglized in any country all over the world yet so nobody has to pay taxes for Bitcoin income as well. But maybe in next few years we will have to and it'll be really bad, our income will decrease a lot cause we're having to pay transaction and if we will have to pay more for taxes I think a lot of people will be panic for a while Smiley)

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December 02, 2017, 06:51:49 AM
 #84

No need to pay tax in bitcoin because it has no connection with the governments and banks. Governments have no control on it. This is the good thing in investing bitcoin because it has no tax. You will only pay when you turn your bitcoin into fiat and cash it out, you will be deducted with small amount by the banks.
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December 02, 2017, 09:56:43 AM
 #85

I am not taxed on bitcoin and that is why i am sticking with this opportunity and that is why i leave my job because when i am in my job, my salary is being taxed which is already a loss for me to continue working there and right now, even though i am earning or making a lot of money, the government still not taxing me.

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crocozino
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December 02, 2017, 10:01:53 AM
 #86

Luckily for me there is regulation for cryptocurrencies here, so my bitcoin income is not taxed here. So I have freedom to earn bitcoin without being taxed actually, which is making kinda happy, you know . And I really hope with that kind of shit we have in our country, I hope that this will continue in the future!
FasTroy
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December 02, 2017, 03:09:34 PM
 #87

Are you taxed on Bitcoin?
in my country there are no regulation for bitcoin, but after i withdrawal into fiat, i got taxed from my bank account that i saved money. maybe that not called taxed on bitcoin but on fiat
Same here in my country, there are no regulation for bitcoin, also I can't withdraw bitcoin using ATM or banks, I am disallowed to do that, I always convert my bitcoin to euro and buy it to my friends or people that gamble using this currency and i get the same value with our local currency.

teejayrichard2
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December 03, 2017, 07:42:25 AM
 #88

Well for my country the government doesn't care about bitcoin users for now, so no taxation so far. If you want to trade with bitcoin fine ,the government doesn't care. But I believe in the near future government will try to regulate bitcoin and set up regulatory rules so as to monitor bitcoin taxation, until then let's just buy and sell and invest in bitcoins

Lodi0808
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December 03, 2017, 07:50:37 AM
 #89

No dude! That is the beauty of earning in bitcoins, government cant track you so you dont have any obligations of paying any tax from them.
kiddeon123
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December 03, 2017, 07:59:02 AM
 #90

I am not taxed on what I earn in bitcoin for now, but transactiin fee on bitcoin is too High I just consider it as a the tax. For now lets enjoy bitcoin as a tax free resources. Government still doesn't notive bitcoin but in time they will, they will put a law taxing us bitcoin users.

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December 03, 2017, 08:04:12 AM
 #91

Though my home country support the use of bitcoin for transaction but for now there is nothing as such  like tax on bitcoin. We that make uses of bitcoin have not for once paid any tax on bitcoin trading. It would have been taxed if government of our country  have the power to regulate its transaction or transfer.

lifengpu
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December 03, 2017, 02:01:01 PM
 #92

At the moment there is no bitcoin tax in my country, but there was a rumor that they want to tax it
Pfizer
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December 03, 2017, 02:02:32 PM
 #93

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'm not opposing the taxing, but this way is not fair. Bitcoin is like a currency and two seventh of the total amount is crazy as a tax method. This is really not fair.

In my country, the tax is not applied only fees are present.
jinksters09
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December 03, 2017, 02:03:11 PM
 #94

As for now there taxes imposed when I am buying or selling my bitcoin which is solely great because hearing those value-added tax makes me stress my mind jeez it's everything that we are about to do or buy is always or most of the time gonna be tax by them. Which for me is great because bitcoin doesn't have a tax.

rasho321
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December 03, 2017, 02:14:42 PM
 #95

Yes, technically, it's still capital gains, it's just not visible to the IRS if you do it say from a physical wallet to a seller who doesn't show your identity. But if it's a seller who records that data, you could be liable for capital gains. Some of this comes down to personal responsibility. But you have to remember, cryptocurrency was created to liberate the individual from taxation and central bank manipulation.
Psalms23
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December 03, 2017, 02:35:35 PM
 #96

Are you taxed on Bitcoin?

For now I was not yet taxed for my income in bitcoin. My government is yet to regulate (if they said is true) and when that happens maybe then I'll be taxed with my bitcoin income. But at the moment, I'll just enjoy my tax-free income.

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Mrjitter
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December 03, 2017, 02:41:25 PM
 #97

Fortunately, for the time being, there is no such thing for bitcoins to be taxed, but in the future it is likely that the government will begin to regulate it
Crypto Bloke
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December 03, 2017, 04:51:13 PM
 #98

I'm living in Spain!

I have a genuine fear that the tax office could tax your Bitcoin 'earnings' then fine you for not declaring them earlier  Angry  resulting in a net loss in the whole deal ....

Maybe one day Bitcoin will be accepted as payment and I will be able to go on a huge spending-spree!!!   Lips sealed
LyQaN
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December 03, 2017, 05:08:55 PM
 #99

not yet, in my country taxation is there if you earning a taxable amount because the app that allows us to to sell and bitcoin and exchange for local currency demands our bank related documents,even app has to pay taxes to government so that they can continue their work.

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