Crypto tax in your country: what do you think?

[robert20]

TAX is very important for the economy of a country. Because if people are not TAXed for crypto they will start to keep their ,oney in crypto which can be good for short term. But in the long term the economy of the will broke and economist will blame crypto for it which can afterward result in crypto ban. So i support  TAX for crypto

[Paglamon]

Every user in the country is hopeful for cryptocurrency approval. Perhaps we have seen that in some countries the cryptocurrency or Bitcoin has been approved. Officially, there is no trend of tax in different countries. Again in some areas Bitcoin is not approved. The government cannot levy taxes in those areas.

Bitcoin is not allowed in our country. Bitcoin is not traded in the traditional banks of our country. However, we do bitcoin transactions through buy sell. That is, we do user-to-user transactions. And we use bank accounts for domestic money transactions. However, the government of our country does not get any tax from cryptocurrency.

[gunhell16]

Here in my country, we have a lot of local exchange here that are accepting cryptocurrencies such as Bitcoin, ETH, XRP, and BCH and these local exchange that has approved by the SEC surely has tax deduction for the government. But for us, users here don't have yet, not so sure if my thinking is right or not.

[shadowdio]

30%? that's quite high for me as a small time trader.. Well I'm glad that my country is not like that, we have local exchange here and I'm sure it has tax deduction. No problem to me if it has tax for crypto but should not high like in the US.

[mahadev]

So far, we have always wanted crypto to be officially recognized because it will have positive effects such as:
+New projects related to blockchain & crypto are allowed to exist;
+Start-ups can raise capital more easily;
+ Crypto community will grow more.

However, every right comes with a responsibility. Crypto is tied to a crypto tax. Some countries like the US and South Korea have taxed crypto profits. The tax is quite high: 20-30%.

This creates great pressure on crypto community, even though the profits from crypto are quite large. Vietnam has not yet accepted crypto, so Vietnamese crypto community is not obligated to pay taxes on crypto profits. Many community members want this to continue as they can save millions of dollars each year.

What do you think about this? Do you want officially accepted crypto in your country or want to avoid crypto tax obligations?

If the government want to get pay from crypto currency, I think we should pay it.
Because It's the rule, as the citizen we should allow this.
But in my country, the government didn't have taxed crypto profit.
So It's not problem for us.
In my opinion ,it is good thing, because If the government want have taxed crypto profit, they should legalize crypto at there.

[Kitaiev]

There is no crypto tax in my country but withdrawing money without paying taxes is very dangerous.
Therefore, I prefer to pay taxes to sleep peacefully.

[aiviaa485]

Cryptocurrencies cannot be taxed because they are owned by individuals, such as their own wallets or various altcoins in personal wallets such as Trust and SafePal Wallet.
Unless cryptocurrency can be taxed if it has entered a centralized exchange such as Binance or other cryptocurrency markets such as WazirX for India.
Please just impose taxes because taxes are for our common interests and help each other in the real world.

[Senin]

Cryptocurrencies cannot be taxed because they are owned by individuals, such as their own wallets or various altcoins in personal wallets such as Trust and SafePal Wallet.
Unless cryptocurrency can be taxed if it has entered a centralized exchange such as Binance or other cryptocurrency markets such as WazirX for India.
Please just impose taxes because taxes are for our common interests and help each other in the real world.

Any activity that brings profit to people, the state has the right to have a tax. Therefore, cryptocurrency is no exception.
In my country there is still no law on the regulation of cryptocurrency and in the formation of the tax. There are several different bills, but it is not known which of them will acquire the status of the law. If the tax is significant, the market participants of the cryptocurrency will try to leave the taxation, especially since it is not so difficult with cryptocurrency. Therefore, States should not establish large income taxes from cryptocurrency.

[Astra]

If we want cryptocurrencies to be legalized by states and we are doing cryptocurrencies as a completely legal business, we must agree to pay a reasonable tax on our profits. But a tax of 25-30 percent is already decently large. With this amount of tax, each of us has the right to choose how to act in such a case. This depends on many factors.

[legend45]

I think It's no problem, if the government take the tax from.crypto.
But the government should take the tax around 1%, don't much.They didn't know the risk of crypto investment.
Just know the profit, never know the loss.

[MrSpasybo]

I think It's no problem, if the government take the tax from.crypto.
But the government should take the tax around 1%, don't much.They didn't know the risk of crypto investment.
Just know the profit, never know the loss.

I don't think governments will charge 1% tax, less VAT is already 10%. In many countries, taxes on crypto profits are charged up to 30%, which is too high. I see that this tax is intended to limit people's interest and participation in the crypto market.

[Cakra bumi212]

crypto tax for small traders may be a bit burdensome, but it is also a positive step in the development of crypto assets and will have strong legitimacy from the government

[DAMKAR]

crypto tax for small traders may be a bit burdensome, but it is also a positive step in the development of crypto assets and will have strong legitimacy from the government

Yeah, It is bad for small traders but also has good effect for crypto. Crypto has been allowed at our country, so we can do transaction from here.
Tax is for country income, So, It is a good thing.

[densus88]

I think I agree if the government allow bitcoin and take the tax.
At least we can do transaction in crypto currency at our country.
Hopefully the government will reduce their tax, because we also have loss, sometime.

[gurunanakji777]

In my country India we can buy and sell crypto without any issue but our govt imposed a heavy 30% tax on the profits and as well as they will not square off the losses that are really frustrating. They want to take tax on profits but they will not adjust the loss and this will definitely hamper the growth of cryptos in my country. The tax should be revised again to help to grow new projects. If the tax remains like this it won't help the crypto trader or investors or the new projects.