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Is bitcoin being taxed in your country?

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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?

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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

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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...

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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.

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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

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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.

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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.

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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.

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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?

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I am from the UK - nothing special to be honest and yes if I was to withdraw $100.00 - after taxes of the withdrawing, minor fees and other related fees that apply with bitcoin I tend to cashout around $85.00 to my bank account so that is a massive 15% overall which is quite expensive, but I do enjoy stake so taxes are worth it!

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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 :)

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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

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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.

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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

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The government I find is very greedy when it comes to getting their dirty hands into cryptocurrency. Even altcoins are very expensive due to the the government pushing up their tax prices. And if I hear correctly, because I live in the UK - they are going to be re-enforcing new taxes to take it's place which is going to be expensive for those that are enthusiasts but sadly, I don't think this is the way to go since all this is going to do is hurt those who want to buy bitcoin but cannot afford it after those taxes. I wonder just whether they will put a stop since many hodlers have never seen the light of any profits for god knows how long.

I just want most governments to stop interfering with a market that is struggling enough as it is. 

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Lol, how would they tax it? o.O 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*.. xD

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24 minutes ago, KiXxnTRiXx said:

Lol, how would they tax it? o.O 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*.. xD

lol you are right.   😁

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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*

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Posted (edited)

Their status is now incomprehensible, but I think this issue is already in development. Of course, it is better to pay taxes on cryptocurrency assets than not to do this, since many risks disappear. Because now, for example, the authorities of the Swiss cantons are also actively integrating cryptocurrencies into the daily lives of people. So in this question (rather ambiguous!) It is better to turn to Tax Proposal https://goldblum.ch/tax-proposal-17

 

Edited by Rubirose

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