wilbur Posted February 20, 2019 #1 Posted February 20, 2019 As the title says, are bitcoin buying or selling or any transactions being taxed in your country? I want to compare how our government see bitcoin Here in my country, they do not tax bitcoin transactions but instead the wallet provider is offering overpriced deposit and withdrawal fees. We have no choice but to use it because it is the only option we have. How bout you?
Owly Posted February 20, 2019 #2 Posted February 20, 2019 Russia. No fees from government, only small fee in local exchange sites
laron Posted February 20, 2019 #3 Posted February 20, 2019 in Indonesia it is still not very popular, whereas for cash payments or buying goods it is not permitted, hopefully in the future it can be used for payment
polor12 Posted February 20, 2019 #4 Posted February 20, 2019 Honestly government in any country...doesn't see bitcoin as valuable currency...why should they tax in what they cannot control....that's one thing about btc that we all are happy about...is not taxed...all those sites that has high transaction fee for withdrawing is the only way for them to earn their share...so before making any kind of trade..look up their cost...each site is different..best bet having an external wallet is best..if you trade and uses one of those platforms but has high fees.. just store the minimal to have your offer open...in your description just say if want more have separate payments because coins stored in a different wallet..and give them the reason..works best with paypal...it worked great with me...
davinmark Posted February 20, 2019 #5 Posted February 20, 2019 Nope, here in Indonesia there is no government rules about taxes. its totally free, but when u want to withdraw we needs to pay at least $1,5 . and depends on the amount
Philip74 Posted February 20, 2019 #6 Posted February 20, 2019 Greece. I am more than certain there isn't a single member of the government that has the slightest clue, what bitcoin is, they are so hopeless they couldn't organize a piss up in a brewery. To answer your question, no bitcoin is not taxed.
Kate Posted February 20, 2019 #7 Posted February 20, 2019 Well in my country its not. My ciuntry is not too back nor too front on development but my bitcoins do get taxed indirectly when I buy something online from amazon or a shop due to VAT
irawk0 Posted February 20, 2019 #8 Posted February 20, 2019 Here I don't think the government even knows much about crypto in general. The only downside is the hefty 5-10% fee charged by ATM/BTC stores. That's for both buying and selling, meaning if you buy and sell you have to pay up to 20% fee, which is just stupid and ridiculous. That's why I prefer peer-to-peer trades, although those come with much bigger risks of potential scams.
FotisNt Posted February 20, 2019 #9 Posted February 20, 2019 Well, government here has actually no idea about bitcoins, so there are no taxes at all, thankfully.
LUCKMCFLY Posted February 21, 2019 #10 Posted February 21, 2019 n my country if they have knowledge of Bitcoin, but have not implemented taxes, because they now have problems of all kinds that clearly deviate completely from this market.
wilbur Posted February 21, 2019 Author #11 Posted February 21, 2019 @polor12 If you have a local bitcoin walllet that is registered to DTI then your government can control the flow (cash ins and cash outs) of the transactions and they can put tax in it
wilbur Posted February 21, 2019 Author #12 Posted February 21, 2019 6 minutes ago, DarkBlood069 said: Yes, I'm taxed on purchasing bitcoin, selling bitcoin and then charged furthermore an extra fee to withdraw funds to my bank card using a service which I find very expensive. Not many places sadly that are low in fees and each company I find is very different from the others. But it's always good to pay a little extra to get a secure service. From where are you again db? Lol so if you want to cash in 100$ then youll get 90$ worth of bitcoin is that it?
williamshennie9 Posted February 21, 2019 #13 Posted February 21, 2019 Yes, my government as far as I know taxes bitcoin, but only profits that you made from it. There's also a lot of other requirements, so unless you are making massive amounts of money form it, the profits that are made are usually below the minimum taxable thresholds
jualid Posted February 21, 2019 #14 Posted February 21, 2019 Same here, our government do not tax the bitcoin transaction and about the fee (indodax) is also quite big too, especially for withdrawal, it's a bit too much.
wilbur Posted February 21, 2019 Author #15 Posted February 21, 2019 1 hour ago, jualid said: Same here, our government do not tax the bitcoin transaction and about the fee (indodax) is also quite big too, especially for withdrawal, it's a bit too much. Indonese and Pinoys have much similar government and way of living since we used to lived together back in time. So it is natural to have the same government styles. But that will not stop us right? Wkwkwk
Kate Posted February 21, 2019 #16 Posted February 21, 2019 6 hours ago, DarkBlood069 said: Yes, I'm taxed on purchasing bitcoin, selling bitcoin and then charged furthermore an extra fee to withdraw funds to my bank card using a service which I find very expensive. Not many places sadly that are low in fees and each company I find is very different from the others. But it's always good to pay a little extra to get a secure service. But may I know from where do you buy your bitcoins ? Because if you are buying from the site owned by the government then yeah you will get taxed but in other cases I dont think so. If you buy from lbc I think there won't be any taxes.
laron Posted February 21, 2019 #17 Posted February 21, 2019 17 hours ago, davinmark said: Nope, here in Indonesia there is no government rules about taxes. its totally free, but when u want to withdraw we needs to pay at least $1,5 . and depends on the amount yes depending on the market that we registered for withdrawal, but for payments not allowed in Indonesia only as an asset
KiXxnTRiXx Posted February 27, 2019 #18 Posted February 27, 2019 Lol, how would they tax it? and even if they did start taxing it or is taxing it, id give them something else to tax .. my middle finger ..l.. lel.. this is why crypto should never ever be involved with banks.. thats once way they will be able to force the tax on them.. damn greedy fuks always looking for ways to fuk humanity over by taxing everything.. mark my words, soon they will be taxing people for every breath they take.. *cough carbontax cough*..
bmg Posted February 27, 2019 #19 Posted February 27, 2019 24 minutes ago, KiXxnTRiXx said: Lol, how would they tax it? and even if they did start taxing it or is taxing it, id give them something else to tax .. my middle finger ..l.. lel.. this is why crypto should never ever be involved with banks.. thats once way they will be able to force the tax on them.. damn greedy fuks always looking for ways to fuk humanity over by taxing everything.. mark my words, soon they will be taxing people for every breath they take.. *cough carbontax cough*.. lol you are right. 😁
Threcnom Posted February 27, 2019 #20 Posted February 27, 2019 On 2/20/2019 at 6:03 PM, Owly said: Russia. No fees from government, only small fee in local exchange sites Same here in Saudi Arabia. Probably one of the advantages of not recognizing crypto *yet*
nuuuitsjdragon Posted March 15, 2019 #21 Posted March 15, 2019 One of the good things about mine is a solid no tax on any capital gains from Crypto... yet. No wonder many of the offices are not-surprisingly set up around my part of the world! 😉
polor12 Posted March 20, 2019 #22 Posted March 20, 2019 How that's possible @wilbur i use localbitcoin as my trading platform... i have the minimal amount for buyers to buy... if they wanted to get more..they purchase the minimal.. and message me the other amount they want.. i have an external wallet that i keep my entire bits.. so i get separate payments.. customers get the face value... only mining fee is subtracted... i dont scam or loss any profit..only payment i accept is paypal and bank transfer...
Joshreyes Posted March 20, 2019 #23 Posted March 20, 2019 Here in my countrt there's no tax, but in buying bitcoin versus selling ng it on our local wallet theres a huge gap. Also our local bitcoin wallet has huge,cash out or withdrawal fee
ginoso2019 Posted April 13, 2019 #24 Posted April 13, 2019 in my country (Italy) bitcoin are not taxed yet but I believe that they( government) are organizing themselves to introduce new taxes
rajamishra Posted April 13, 2019 #25 Posted April 13, 2019 hello friends here in india still no accreditation for bitcoin selling and buying,so no tax when its control by government then may be some taxes added.here only locally buy/sell
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