Taxing profits on bitcoin is possible?

[Sasaki 171]

I think it's impossible because bitcoin is decentralized and everyone can use it so no one can have a control in it.

[Fadimah 191]

On 10/19/2019 at 1:34 AM, Silvinator said:

You're right. In some countries if they consider cryptocurrencies as an asset that must be taxed. But many people are confused on how to do it because governments don't finish clearing up the situation.
 

Yes. This is exactly the problem. Most governments haven't concluded on whether to accept it or not. So for now, there's nothing regarding tax on crypto.

[Cryptohidayat 36]

Yes it is possible if give more tax we will get paid more. But if do not give tax then impossible that bitcoin price will go to moon. So yes taxing profit n bitcoin is possible 

[lingardcpp24 7]

Taxing on BTC is a very difficult story because it is not legal in my country. So taxing is very difficult, if the government taxes it it will bring about a pretty strong economy

[tramy 0]

Phần mềm trong phần mềm của họ. Tôi có thể giao dịch với BTC hàng hóa, hàng hóa trong khi

 

[babaji 1228]

The problem with bitcoin is if it jumps 20% in a day, then you have to pay tax on the 20% as your income, now if you agree to pay tax, the next day it may dump by 30%, then were you suppose to pay tax. So how do you asses what is taxable figure. This is more complicated than what many think, 

[bentayebsalah 2280]

Taxes can be imposed on trading platforms, but for people making Bitcoin profits, this is impossible because they cannot be monitored or know who they are.

[Ayush Singh 1175]

I don't think that Bitcoin is coming under any taxable amount of the countries because it is not regulated in every country and increase in the capital assets by such cryptocurrencies will not be considered as a taxable amount for the users. 

[Amir YT 202]

On 10/19/2019 at 6:29 AM, Keith700 said:

Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not clear. In practice, any surplus value should be quoted as tax assets as a capital increase. There remain doubts if a benefit in cryptocurrencies is invested again in cryptocurrencies after a theoretical surplus value not transformed into an asset of legal tender must be declared. It is not clear in that case and legal uncertainty may take time to be resolved.

I also agree with you. But you have agree that crypto will lead the future world. Soon we will see mass adoption on crypto. Tax can assure through crypto regulation. Any government can get tax if they regulate it.

[Hanan951 841]

On 10/19/2019 at 3:29 AM, Keith700 said:

Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not clear. In practice, any surplus value should be quoted as tax assets as a capital increase. There remain doubts if a benefit in cryptocurrencies is invested again in cryptocurrencies after a theoretical surplus value not transformed into an asset of legal tender must be declared. It is not clear in that case and legal uncertainty may take time to be resolved.

For taxes I don't pay and other stuff and I am feeling free to deal with cryptocurrency in a free way in my point...

[Captain Karim 0]

Well, governments may impose some taxes on investor profits, but that will be after legalization of digital currencies and their follow-up by governments.

[Dolpharius 675]

On 19.10.2019 at 08:29, Keith700 said:

Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not clear. In practice, any surplus value should be quoted as tax assets as a capital increase. There remain doubts if a benefit in cryptocurrencies is invested again in cryptocurrencies after a theoretical surplus value not transformed into an asset of legal tender must be declared. It is not clear in that case and legal uncertainty may take time to be resolved.

you speak in old terms and this does not fit the new financial system where it is no longer relevant - here the blockchain decides and everything is already in the past, all old people should try to understand and accept the present.

[cryptousd20 141]

I do not think that Bitcoin will have taxes in the future when entering global markets because it is not like the dollar and the euro is controlled and this is what I think may happen

[duncun007 3577]

7 hours ago, Dolpharius said:

you speak in old terms and this does not fit the new financial system where it is no longer relevant - here the blockchain decides and everything is already in the past, all old people should try to understand and accept the present.

well in the new world there is no way you can hide your money and if there is any way the big celebrities would not be going to court over it, taxes is a must and you cant escape it.

[Dolpharius 675]

10 hours ago, duncun007 said:

well in the new world there is no way you can hide your money and if there is any way the big celebrities would not be going to court over it, taxes is a must and you cant escape it.

you were born into the world and already have to pay someone a tribute for the fact that you are suffering here, you can refuse it and be rasta or go to tibet as a monk, but still you will have to give a part of yourself as a spin.

[hadi6t6 6]

Currently, it is possible to impose tax on crypto currencies if the country. Of course the crypto money market is not under the control of governments. Any taxation must be under the control of governments. If this government controls the digital market, it can do anything.

[hadi6t6 6]

Currently, it is possible to impose tax on crypto currencies if the country. Of course the crypto money market is not under the control of governments. Any taxation must be under the control of governments. If this government controls the digital market, it can do anything.

[SanjidaAkterSanju 69]

In my opinion, every things can happen in future if you want. But to earn money form bitcoin taxes it quite difficult because the government wont loose his profit so easily. But if we work together then it can be happen too.              

[BTC Future 3946]

In the US they are taxing everyone holding cryptocurrencies and the investors have to declare all of them. Although this year the US voted to declare any crypto investment above 500$. I can't imagine myself having to declare every ERC20 token that has zero price to the IRS of my country. That would be hillarious as I hold more than 300 coins and tokens that have absolutely no value.

[Mcd0d0 5882]

This will be possible mate, it depends to the country if they will be added some taxes here to get some funds for their society, some countries are now adopting it and putting some taxes so that many people are now freely to used cryptocurrency.

[lifelline1262 15]

Some countries has already started that aspect to tax their citizens for using bitcoin, it is no longer a news for now

[Badhon420 126]

I'd like to recognize the way place a burden on income tax is usually made within the crypto earth; in the case, at some point, these health systems seem to encourage that rules, in addition to what exactly stands out as the adverse sequences with the employment of that software?

[MCSGlegend 2210]

I think that in order to make a tax on profits from bitcoin, you need to first accept it as a currency, or as a digital currency, only in this case it is possible.

[rekter 8129]

On 10/19/2019 at 3:29 AM, Keith700 said:

Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not clear. In practice, any surplus value should be quoted as tax assets as a capital increase. There remain doubts if a benefit in cryptocurrencies is invested again in cryptocurrencies after a theoretical surplus value not transformed into an asset of legal tender must be declared. It is not clear in that case and legal uncertainty may take time to be resolved.

I guess it depends where you live, but in here taxation of crypto to crypto transaction is a thing. And it's affecting profits pretty harshly for anyone following that rule.

[jekich.chan 1439]

This is a good idea, a lot of people make money on it and if you introduce a small tax specifically on income from trading, for example, then tax money will greatly help strengthen the economy of the country, even the most powerful country. Good idea, support