Why must cryptocurrency pay tax?

[gotbounty]

Tax is the government's program. We should follow it and I think it will be adjusted as individual's income from crypto. I think we shouldn't worry. As long as the tax is fair to crypto users, I think why not pay the tax to the government. I think it is normal to pay the tax.

[ayatoslaw]

I am still surprised, what does the state have to do with cryptocurrency owners,
in my opinion specifically in cryptocurrency we do not need to pay taxes, there are already very many taxes in the real world that are not even true, and now added with cryptocurrency tax in cyberspace?
I never agreed that the state would provide tax rates, lol.

[Fenix]

I am still surprised, what does the state have to do with cryptocurrency owners,
in my opinion specifically in cryptocurrency we do not need to pay taxes, there are already very many taxes in the real world that are not even true, and now added with cryptocurrency tax in cyberspace?
I never agreed that the state would provide tax rates, lol.

For any activity that brings income to citizens, the state has the right to set a tax, especially for activities in the financial sphere. Therefore, I do not see any problems here. We will have to pay tax on income in cryptocurrency, otherwise the state will gradually limit or even prohibit the use of cryptocurrency.

[tsakf]

Tax, is a share of your work, given to the government, for the state to function. It does not matter, how you are paid. The state have to take it's share, whatever the form of payment. The only obstacle, is that the state, accepts only fiat to receive taxes, so you have to find the fiat to pay.

[zendicator]

lol governments now are using crypto to accumulate more tax. I dont think its proper to collect some tax because the have no control over cryptocurrencies. you can only impose tax which they can control or have a jurisdiction.. maybe they will use it in corruption by taking advantage to the crypto users.

[tsakf]

lol governments now are using crypto to accumulate more tax. I dont think its proper to collect some tax because the have no control over cryptocurrencies. you can only impose tax which they can control or have a jurisdiction.. maybe they will use it in corruption by taking advantage to the crypto users.

I have to clarify. During the first days of the internet, back in 1998, I had the same thoughts. Now, it is clear. If you have a website with porn, and you have not banned visitors from countries, that porn is forbidden, you are guilty. If you travel there, you may end up in jail. With cryptocurrencies, the seller, has to obey laws in his jurisdiction. The seller, collects and pays the taxes, if he is a merchant.

[fulled]

To help your country growing, i think as long as the taxable rational i will agree to paying it, and also it should be profit from trading, capital gain from buying bitcoin should not be taxed, it only could be taxed if the owner decide to sell it, and i think 5-30% tax for big amount is still rational, and for small holder the regulator should make a fixed percentage maybe 1% to 5%

[Condorlaib]

To help your country growing, i think as long as the taxable rational i will agree to paying it, and also it should be profit from trading, capital gain from buying bitcoin should not be taxed, it only could be taxed if the owner decide to sell it, and i think 5-30% tax for big amount is still rational, and for small holder the regulator should make a fixed percentage maybe 1% to 5%

You really cited very gentle figures as an example, but it seems to me that the governments of many states think a little differently.  I still do not know such situations where the government would not abuse taxes for a simple citizen.

[Payme21]

Crypto is an asset so expect it to be taxed but I see this happening only in developed countries for now in as much as developing countries will soon take this option

[tsakf]

To help your country growing, i think as long as the taxable rational i will agree to paying it, and also it should be profit from trading, capital gain from buying bitcoin should not be taxed, it only could be taxed if the owner decide to sell it, and i think 5-30% tax for big amount is still rational, and for small holder the regulator should make a fixed percentage maybe 1% to 5%

You really cited very gentle figures as an example, but it seems to me that the governments of many states think a little differently.  I still do not know such situations where the government would not abuse taxes for a simple citizen.

Tax abuse, is something different. It can happen or not. Whatever the payment you receive, you have to pay taxes for your work, or your product.

[Condorlaib]

To help your country growing, i think as long as the taxable rational i will agree to paying it, and also it should be profit from trading, capital gain from buying bitcoin should not be taxed, it only could be taxed if the owner decide to sell it, and i think 5-30% tax for big amount is still rational, and for small holder the regulator should make a fixed percentage maybe 1% to 5%

You really cited very gentle figures as an example, but it seems to me that the governments of many states think a little differently.  I still do not know such situations where the government would not abuse taxes for a simple citizen.

Tax abuse, is something different. It can happen or not. Whatever the payment you receive, you have to pay taxes for your work, or your product.

I mean a large number of taxes, which are growing every year, and the income of citizens does not change.  Until now, at least there is still an opportunity for cryptocurrency users to avoid taxation and at least save a little money to become financially independent.  After all, the fact is that after receiving a salary, he paid the bills for utility bills, as well as taxes and was left without a penny in his pocket to live on.

[bountyecrire]

Every earning have to be taxed but I can lose 90% as well. When they are gonna get taxes? Maybe when you change crypto into fiat.

If they control CEXes and get tax on every trade, people will use Decentralized exchanges.

I'm not sure. But of course, if I do 100x in a year, It has to be legalized and taxed somehow.

[Zurcemozz]

I think it will helps the government to sustain everything, as we all know if crypto doesnt have taxes there will be not enough money for the government to spend for infrastructure. So I think if they collected some taxes on it, in withdrawing or depositing some money of it.

[MrSpasybo]

I think that being taxed is a good signal for cryptocurrencies, because it shows that cryptocurrencies have been approved as a form of property, or a form of currency. Tax is not as big as the value that cryptocurencies offer to community.
Thank for article!

[sunny1356]

This is one of the problems that some coins keep having, particularly those that are in countries where cryptocurrency is regulated. Inasmuch as they are registered, they will be subjected to tax payment.