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Government Taxing Cryptocurrencies - Printable Version

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Government Taxing Cryptocurrencies - MerryJane - 10-14-2017

Think about it, imagine in the far-future everyone will start using cryptocurrencies, including the people working for the government, they will have to gain some sort of a tax-fee though.

Wallet apps for cryptocurrencies might be forced to add by law an automated fee system to take some percentages out and pass it on to government addresses.

I really wanna hear your guys's opinion on this. Because, I am not really sure how/if the fee-system will even be possible in cryptocurrencies without bypassing it somehow, thanks for reading.


RE: Government Taxing Cryptocurrencies - CryptoNeermin - 10-14-2017

Government deserves the right to tax its citizens, however taxing and accounting for crypto may proove to be tedious and complex. Moreover if governments, start such taxation then it is an indication that they have given legal recognition for cryptocurrencies as legal tenders, which means fiat could die like email killed snail mail.


RE: Government Taxing Cryptocurrencies - H055Y - 10-25-2017

They probably will try to tax it at some point without a doubt, but imo crypto belongs to the people and the government should keep it's dirty hands away from it. We have given our governments enough time power and our money in the last hundreds of years, this cryptocurrency could start a revolution where the governments are being punished for ruining so many peoples lives over the centuries for their hunger for money.


RE: Government Taxing Cryptocurrencies - benefit14snake - 10-28-2017

Lol we have to pay taxes on crypto based on USD price when mined. Then again if we trade it and the value to fiat has increased. 

If I'm reading my tax code correctly.

Yay USA.

(On the positive note, I can start a business and lower taxes significantly)


RE: Government Taxing Cryptocurrencies - H055Y - 10-28-2017

(10-28-2017, 05:35 PM)benefit14snake Wrote: Lol we have to pay taxes on crypto based on USD price when mined. Then again if we trade it and the value to fiat has increased. 

If I'm reading my tax code correctly.

Yay USA.

(On the positive note, I can start a business and lower taxes significantly)

It's a good thing the Belgian goverment is unaware of cryptocurrency all together so I'm still able to earn it under the radar Smile
Better to cash some out when possible before they start talking about enforcing any rules about it.


RE: Government Taxing Cryptocurrencies - zajiczech - 10-29-2017

Czech government seems to know nothing about crypto. But there is one pub accepting Bitcoins, they have problems with taxes now...


RE: Government Taxing Cryptocurrencies - H055Y - 10-29-2017

(10-29-2017, 09:43 AM)zajiczech Wrote: Czech government seems to know nothing about crypto. But there is one pub accepting Bitcoins, they have problems with taxes now...

Probably because he kept the Bitcoins and didn't convert it into fiat money to put in his cash register?


RE: Government Taxing Cryptocurrencies - zajiczech - 10-29-2017

They set up some electronic income evidence and they refused to use it :-D


RE: Government Taxing Cryptocurrencies - H055Y - 10-29-2017

So the owner set that up or the government did make some kind of arrangement where u could show his BTC payments and the goverment refused it?


RE: Government Taxing Cryptocurrencies - zajiczech - 10-29-2017

Government wants almost every shop to send electronic income evidence, but they refused to send it as they don't use common currency...


RE: Government Taxing Cryptocurrencies - H055Y - 10-29-2017

(10-29-2017, 07:20 PM)zajiczech Wrote: Government wants almost every shop to send electronic income evidence, but they refused to send it as they don't use common currency...

Someone should inform the guy that he can convert that btc to real money and just let people deposit on his bank. Or maybe those btc debit cards are already a solution if he accepts visa.


RE: Government Taxing Cryptocurrencies - zajiczech - 10-30-2017

I think they are doing that for purpose, they just want to stay "out of the system". They know very well what are they doing. Last month there were kind of a bitcoin conference there.