If tax is implemented on blockchain

[Sid 589]

I think if the government uses blockchain technology for tax maybe that's a good thing. It could be marked that the government in the country has the possibility to accept cryptocurrency 😅

[Soaib khan 1035]

if government apply taxes in blockchain technology maybe all countries legalize crypto.or launch own crypto currencies.but not possible.

[suzuya 945]

Then blockchain's development will be worthless because it's still accessible for government and they can still use it to manipulate money. It's like it's not decentralized anymore. Government will be the only one will benefit from it and get some good profits.

[Ali_hmwi 966]

bitcoin is not for any government so it has its own rules no body can stop this coin. 

government have nothing to do there

[bliznec 22268]

If the tax is applied in the field of cryptocurrencies and blockchain, then the tax must be paid. This is a law and it must be observed, especially with crypto. 

[pakjobhelp 1585]

You know that and every person who trade with bitcoins know that crypto currency is freedom from every Government policies and it is fully control by its user. In my opinion how the government apply the tax on bitcoins because its transaction shown by name.

[rajonmia 181]

On 1/5/2020 at 3:32 AM, tienda said:

I think yes on the future will be implemented when they find a very good project to regularized cryptocurrency then yes tax can be implemented on Blockchain for any transaction and in all websites exchanges..

I agree with you but when you give me a answer. My question is everyone know that blockchain can not control anyone. So how can goverment added this tax in blockchain?that's it

[Yanadia 1517]

That might be the best way out for government regulation in order to build blockchain technology for society and the country.  But the problem is whether the people can accept?

[Investors Blog 385]

On 1/5/2020 at 3:53 AM, Romaan1987 said:

Hi guys! Today i want to ask an expert opinion that if a tax is implemented in blockchain technology that every transaction sent, tax is automatically deducted. What would be impact of this in a state that it will be more trusted by a government?

impossible to happen, Cryptocurrency is decentralized meaning no government or central authority controls it and charging tax for every transaction made is counter productive for the goal of cryptocurrency,

[ETheHedgehog 3104]

That would make it lose it's value because on of the benefits of crypto is tax free payments so if tax happens on it then people may start to abandon it

[MOProgress 363]

If governments can implement tax payment system using block chain technology that will be a very good move. Because it will be very easy to pay tax. I doubt if that will happen anytime soon.

[Ionescu 115]

And who exactly would implement this kind of tax on blockchain? Because bitcoin doesn't have any owner or any company that has control over the blockchain so there is no one to add a tax over it

[Armcannon 858]

At this moment government don't put tax on cryptocurrency. I'm sure if they find out how good investment it is they will put tax on it. investors and traders will surely affected by it.specially those who just earning from freebies and have small amounts only.

[Satya31 865]

Russia does the best thing. They announced that the tokens or coins you are holding also will be considered as a property of you and you must its taxes. I think this should be done for every country. Because otherwise our country will be effected consequently. The money blacking will be at a very high rate. So it should be implemented in every country. 

[MCSGlegend 2210]

I think that governments are unlikely to do this, blockchain and bitcoin were made for this purpose so that they are not managed by state governments.

[doriahailee 643]

38 minutes ago, Ionescu said:

And who exactly would implement this kind of tax on blockchain? Because bitcoin doesn't have any owner or any company that has control over the blockchain so there is no one to add a tax over it

I'm still not sure too but let's say governemnt make their own blockchain and have same sheme with Horyou Token (Ethereum blockchain) Where every transaction for every amount that sended will be deducted fora about 1%-3$ (If i'm not wrong) and sended to donating address for their purpose, Mayeb something like that.

[miskyming 1588]

Well I don't think if they can do that in the blockchain, but if there is tax implemented, then I think it can help a little bit in the economy,

[Naylor89 1223]

There's a tax already imposed when you convert your crypto into cash. Imposing tax on every crypto transaction is too much. also it's not applicable for this kind of technology.

[gambut_24 98]

Blockchain technology can be used to make it easier for taxpayers to pay taxes and support transparency of tax transactions, the parties involved will have a record of each tax payment transaction and are able to mutually check the sustainability of tax payments. Not only that, the taxpayer data is also increasingly guaranteed security.

[phpMailz 568]

That wouldn't be good for blockchain, doing that will keep some people away from the technology, most people that used blockchain technology use it because of the freedom it gives and taxes blockchain transaction will be difficult since it only on net.

[bentayebsalah 2280]

I don't think governments can tax the blockchain and cryptocurrencies directly because they don't control these technologies and currencies

[Upright 2688]

Why would Crypto be discriminated on having tax to transaction in which fees are always on every transactions,

Its like having to transfer using western Union and still expect tax cuts. Not fair 

[Rickso 768]

On 1/4/2020 at 8:53 PM, Romaan1987 said:

Hi guys! Today i want to ask an expert opinion that if a tax is implemented in blockchain technology that every transaction sent, tax is automatically deducted. What would be impact of this in a state that it will be more trusted by a government?

you actually pay taxes when you convert bitcoin to fiat currencies, i don't mean the fees payed to the exchange, when you have your dollars after the conversion you will have to pay taxes on them

[Sapdrx 469]

Just now, Hasan7197 said:

Yes, I think it will be implemented in the future, when a good project for regulating cryptocurrency will be taken. It may take some time.  Blockchain will be taxed for transactions and blockchain will be applied to all website exchanges.

Tax cannot be applied to a technoly itself but on the business that flows out of blockchain tech. So they will probably try to tax coin assets and not the underlying technology.

[Sasaki 171]

Blockchain technology is decentralized so if that happen many of the crypto user will argue about that, this is the new technology and that's why the government are afraid in blockchain technology.