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

[Lover840 0]

On 11/13/2019 at 12:44 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?

That's right decision by the government. A proper amount of tax should be imposed on crypto currency so that it can be used legally without any obligations also it will help economic growth. 

[AL SHAIMON 1293]

On 4/8/2020 at 2:03 PM, Veniatrs said:

If a country has accepted or legalized cryptocurrency, it is true that the country has the right to apply cryptocurrency regulations including taxation for crypto users. The important thing is that the tax is used for the common good.

You are right that's what I am talking about. Government should add some rules and regulation on cryptocurrency and they should accept it. It will help a lot to prevent job problem in poor countries.     

[AL SHAIMON 1293]

On 3/28/2020 at 9:06 PM, CryptoMaxim said:

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

Yeah government can legalize cryptocurrency by adding tax on it. It will help a lot and we can work more easily.

[Laboni 755]

If tax agencies plan to crack down on 'dozens' of crypto tax evasion worldwide, it would be great for Crypto. Then nobody will be able to drive the crypto into the illegal way. In this case, the demand for crypto will increase. But do not pay tax.

[Rezort 846]

It is strange that they don't want to legalize cryptocurrency while still want to take any taxes that they can from this incredible technology, they need to legalize crypto.

[bitcoin-shark 1928]

I on the other hand, believe that it is not a good idea, the various governments seeing that cryptocurrencies are beyond their control and their influence and that they are, however, a valid source of income, they try in every way to tax them to take their part of gain, for me this is not fair unless clear rules are put in place and crypto be equated to real currency

[Omar Ommeish 4872]

One of the most important reasons for preventing cryptocurrencies in some countries is that you can avoid paying taxes by those currencies and therefore they are chasing all the people who do not pay taxes.

[koussai999 1986]

I don't think governments can go after people who use cryptocurrencies and get them to pay taxes
It is possible in the future, but for the time being, I believe that governments cannot do anything

[CryptoLover21 0]

Tax evasion is the reason for not accepting cryptocurrency in the developing countries. There should be strict rules and regulation against tax evaders and tax rate should be reduced to control tax evaders.

[kyoukage01 3181]

Well, part of the governments' control of money comes from their power to impose taxes on their populace. Cryptocurrencies to this end is being accused of being used as a tool to evade taxes. I understand that the purpose of paying taxes is for governments to generate funds for their countries' expenses, and I do understand that crypto being hard to impose taxes with due to its decentralized nature is one of its perks. It is those rotten apples who exploits this perk to evade taxes that could have had uses for their countries that is giving cryptocurrencies a bad name.

 

If the tax agencies are going to go on a 'witch hunt' though, they'd better do so with criminals who deserves it, and not as an excuse to persecute prominent crypto personalities.

 

On 11/13/2019 at 3:14 AM, aika said:

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

It might, if things like tax evasion using crypto becomes too widespread here. But since majority of us here still doesn't have a clue about crypto, I think the chance of our country joining is still too unlikely.

 

Edited June 12, 2020 by kyoukage01

[Virgil dijk 1431]

Well most countries are taking decisions of putting a tax on Crypto, well if there tax crypto automatically it has been accepted in the country that request from crypto traders or investors.

[TimopheyKa 3900]

Hmm, sounds interesting! I am interested in a point that shows us the existence of this program for the development of the entire system for the protection of the tax service

[Moaz 7239]

I think that all countries in the world seek to impose taxes on crypto users, but this can only happen if bitcoin and other cryptocurrencies are legally in these countries, and if that happens, this is a positive thing for cryptocurrency users.

[percare 3192]

The title of this report discusses about dozens of crypto tax evaders so it is about some big players that make millions in profit and don't want to pay their share of taxes. I think everyone should be paying the taxes of the country they are located otherwise there is only the option to leave this country and live somewhere else where taxes are lower.

[Mella 3680]

This is about these dozens of tax evaders that have made many millions and they do not want to pay the taxes, they should do that if they wanted the profit from trading and not try to hide. Tax comes for profit and anybody that makes profit has to pay some. If tax is too much then it is theft but not in all case, as some countries are giving with taxation all required to have a good base.

[bogdanoff 3173]

It is not very wise to use Bitcoin for tax evation and I do not like to discuss about this at all, but usually tax evasion happens from some people that make a lot and don't want to play by the rules. This means they have to pay but not doing so creates many problems in an economy.

[cryptovlek 2597]

I don't like tax evasion and I don't like use of cryptocurrencies for this. Some people are trying crypto to hide big income instead of paying what is legal and as this news says it is just a dozen of tax evaders. I don't think it is important to make a bad image for cryptocurrency.

[Syedbesharat 5423]

U. S haven't accepted crypto and didn't legalise the crypto currency bit for other countries they have fake steps toward crypto U. K pass the crypto bill, Canada opens the bank for crypto so hunting for tax is reasonable for these countries. But they have to make polices for crypto users this will encourage people to come forward for tax submission. Of they don't offer friendly tax policies they will face difficulties and people will hide from tax. 

[Alex9876r 1408]

Indeed, the possibility of tax evasion is one of the advantages of the Crypto world and secondly the most important reason for governments to fight this market Which is considered a safe haven for currencies and a secret place in which privacy can be maintained and there are no taxes on the sums owned by people.

[VijithaVarghese 1994]

If the government would make it convenient for the cryptocurrency world by making the cryptocurrency completely legitimate like fiat money in market I think a little tax won't hurt . The taxation is a good security matter as lot of fraud activities happen in this platform.

[jackycrypto485 1055]

I do not think that my country will join the International Alliance to reduce cryptocurrency taxes, but in my opinion the best way to reduce tax evasion for cryptocurrencies is to accept these countries' cryptocurrencies and make them legal in the country, then everyone will have to pay taxes in a legitimate way.

[BrolySSJ 7899]

I think that there are many countries that are now starting to clamp down on crypto and impose stricter regulations when it comes to its use, and the main reason that i am saying this is because there is a clear market for crypto and in order for the governments to not lose out on this in the country they will try to regulate and tax its accordingly. This is natural for an income that is made in terms of a person within a country and so it makes sense for these countries to band together in order to track down the tax evaders. In my opinion though, what will prove to be much more helpful is to change the country's stance on crypto. If you do this, people will be much more open about their crypto, and things like this may not be necessary. 

[Sykkuno 2887]

I think that crypto usecase is not about evading paying taxes. I am against that and it makes such a bad name that governments will prefer to ban crypto instead of adoption and regulation. Hopefully anyone trying to do that will think again as the community has invested a lot and wouldn't want to risk anything for a dozen of tax evaders.

[Barbarellah 2225]

We are entering the stage of “FOMO" where everyone is seeing the opportunity that is being presented and nobody wants to be left behind. And of course, most governments today are thinking about how to continue to maintain control of the money generated by their citizens. From my point of view, for the implemented measures to have positive reactions, governments must evaluate the cost of their taxes, studying the possibility of reducing them and, apart from providing a guarantee that what is generated will be of benefit to the country in particular.

[AL SHAIMON 1293]

22 minutes ago, Suazakeane7272 said:

But why are you say that the government should tax the crypto the you know that the crypto was help the people but I didn't know why the government was not even respect the crypto because the government need to respect the crypto because it help many people .

You do not understood what I was said. It is right that crypto help people but government would not allow it until they can control it by taxes or rules. Cryptocurrency is untraceable. This is the main reason government not accepting it.