Tax Agencies Worldwide Plan to Crack Down on 'Dozens' of Crypto Tax Evaders

[aika 286]

Recently, authorities of the US Internal Revenue Service (IRS) partnered with tax agencies of Australia, Canada, United Kingdom and Netherlands to hund downcryptocurrency users that are evading local taxes.

“We will collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology" they said last year.

 

Source on the following link: https://news.bitcoin.com/tax-agencies-worldwide-plan-to-crack-down-on-dozens-of-crypto-tax-evaders/

What do you think about this? Do you think your country would join an initiative like this one?

[AL SHAIMON 1293]

Government should add tax on cryptocurrency though people can use it legal way. I think it is a very good decision. If government do this bitcoin will be free to use without any kind of problem in all countries. 

[dentolas 551]

55 minutes ago, Awaremooner said:

So long it is just taxation and these government sees crypto as currency and not as assets, then its fine. People pay tax on money made from forex so if government wants tax from revenues from crypto, its fine. Evading tax to me is a serious offence

One of the problems is that these guys distort the rules to their own bidding... United Kingdom is featured here, treating crypto as money, and we have seen recently that the UK is now treating crypto as asset (other thread where we discussed)... and this is just an example 😉

Maybe the news are a bit distorted also...

[bentayebsalah 2280]

Countries may succeed in taxing the cryptocurrencies they control, but for Bitcoin they can't even know the name of the person.

[Thekingcallme 1975]

This is a good decision to provide protection and reduce a lot of problems that may occur because of this and tarnishes the reputation of cryptocurrencies

[Crypto123 0]

Whoever hears this news thinks that tax evasion and other money crimes are only through cryptocurrencies, and this is absolutely not true, tax evasion exists before cryptocurrency and there are many who evade tax by other means.

[BTC Future 3946]

On 11/12/2019 at 9:14 PM, aika said:

“We will collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology" they said last year.

 

What do you think about this? Do you think your country would join an initiative like this one?

I think that they still haven't figured out that the main threat to their failed fiat system is the paper-printed fiat itself.

This is what is untraceable and this is the reason that every government failed with their taxation. With blockchain and using Bitcoin the big corporations would be unable to launder and hide their profits. E&Y is using the Ethereum blockchain lately in order to be able to record reliable data which wasn't able to do before because of the cover-ups of the past centralized system.

Everything will be more transparent and every time I read about threat to taxes it either means that the person that is talking is totally clueless, or that he is actually afraid because he has so much to hide.

[AL SHAIMON 1293]

17 hours ago, imran777 said:

You like taxes. I don't like this because we all know there are only poor people which only pay taxes but the rich people are free.

taxes are the main income of government. if we do not pay taxes government can not develop our country. so I think we should pay taxes.

[Sapdrx 469]

How would they do that if you have a local anonymous wallet that is not connected to the internet ? I'll guess they can hunt for taxes in KYC online wallets but that's only a fraction of the total. 

[AL SHAIMON 1293]

2 hours ago, abrar61 said:

You think the government should get taxed, I shouldn't do it because poor people make money from crypto currency and if they pay tax, what will they do themselves?

Bro you do not understand my thought. I am saying that government should add little tax like 0.5% like this and we do not need to pay taxes for a minimum amount of cryptos. I hope this is the best way to legalize cryptos.   

[Sapdrx 469]

I can imagine that tax collecter get headaches of crypto owners as many accounts are private. So they'll probably try to trace money via bankaccounts.

[Amirul Islam 382]

On 11/13/2019 at 1:14 AM, aika said:

Recently, authorities of the US Internal Revenue Service (IRS) partnered with tax agencies of Australia, Canada, United Kingdom and Netherlands to hund downcryptocurrency users that are evading local taxes.

“We will collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology" they said last year.

 

Source on the following link: https://news.bitcoin.com/tax-agencies-worldwide-plan-to-crack-down-on-dozens-of-crypto-tax-evaders/

What do you think about this? Do you think your country would join an initiative like this one?

I think they should take tax from crypto holder. Also it's good for us. No one can use it as illegal activities. It will regulate soon. Maximum of crypto users want to happen this.

[MohammadMohsin 569]

It looks like a great plan to me. Cause I personally don't have any news about this information. But it looks really interesting. I'm gonna do some research on this today. 

[AL SHAIMON 1293]

14 hours ago, Muhammad shafique said:

Government should include charge digital money however individuals can utilize it legitimate way. I think it is a generally excellent choice. In the event that legislature do this bitcoin will be allowed to use with no sort of issue in all nations.

You got my point. Government should fo this to legalise bitcoin and they also can earn from bitcoin and they will be benefitted.    

[bliznec 22268]

Tax evasion is not worth it. After all, taxes are the first thing that needs to be paid. If you do not pay taxes, then you risk losing your freedom.

[Maaz sultan 265]

Thats a good news for the tax evaders that is another positive point for the us government and different tax agencies because using shortcuts to avoid taxes includes in cyber-crime .

[Amir YT 202]

On 11/13/2019 at 1:14 AM, aika said:

Recently, authorities of the US Internal Revenue Service (IRS) partnered with tax agencies of Australia, Canada, United Kingdom and Netherlands to hund downcryptocurrency users that are evading local taxes.

“We will collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology" they said last year.

 

Source on the following link: https://news.bitcoin.com/tax-agencies-worldwide-plan-to-crack-down-on-dozens-of-crypto-tax-evaders/

What do you think about this? Do you think your country would join an initiative like this one?

Maximum of cypto users want crypto regulation. After that we can easily pay tax. Any government can take tax from the crypto holders. And this will be helpfull for a country. Many country not adopting  crypto for this reason.

[Captain Karim 0]

A solution must be found to this problem, countries want to impose taxes on investors in cryptocurrencies, cryptocurrencies support privacy and are difficult for countries to deal with, some countries refuse to legalize digital currencies but want to impose taxes, well the situation is a little turbulent and we must find a solution that supports the crypto industry

[Opinder 1310]

If people would shift to crypto from fiat then all incomes would move to crypto. And it is natural that governments would not leave the money to go into anonymous wallets without taking any benefit. I think if governments would start charging taxes then crypto would get easy acceptence in world.

[Shaza Ahmad 1682]

I don't think my country is concerned with these statements, but from my point of view, they are trying to legislate cryptocurrencies and impose taxes on investors, but will this appeal to investors?

[CryptoMaxim 2372]

On 12.11.2019 at 23:20, AL SHAIMON said:

Government should add tax on cryptocurrency though people can use it legal way. I think it is a very good decision. If government do this bitcoin will be free to use without any kind of problem in all countries. 

I think so too. If such a tax is imposed, the government will have an additional profit. And users are more comfortable making transfers.

[tienda 8776]

I dont understand how they can fix a tax for thing that they have not yet regularized, I think first they need to convert Bitcoin to legal currency and then they can add the tax, so if they do that with Bitcoin without regularization they can do that with the drugs!

[Razan alikac 1899]

The idea of taxes may be a good idea and I think it includes only the countries that accept and support cryptocurrencies, the important thing is to ease problems and facilitate trading and cryptocurrencies are supported

[Ms.o 3322]

Cryptocurrency taxation is a good decision to protect its usage,because it  provides the kind of much-needed legitimacy that can only serve to propel mass adoption.

[Whited35 15285]

Yes It should be done to minimize the crimes based in the cryptocurrency world. If the business persons are residing in some countries, they must obey the rules from government. I mean they should not evade the tax to hide money in the crypto.