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Author Topic: Do crypto traders pay tax?  (Read 3794 times)

Offline princessgirl

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Do crypto traders pay tax?
« on: October 30, 2018, 01:40:39 AM »
Germany announced tax free for all crypto users. I don't know about other countries but tax are paid directly or indirectly by each one. Traders may not be charged taxes for their transactions but indirectly, they pay their quota of tax to the exchanges where the trading is done. These exchanges pay taxes directly or indirectly when making the final conversion from crypto to fiat.

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Do crypto traders pay tax?
« on: October 30, 2018, 01:40:39 AM »

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Offline Jaguar

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Re: Do crypto traders pay tax?
« Reply #1 on: October 30, 2018, 02:30:28 AM »
Once cryptocurrency be regulated for sure there will have tax for the crypto traders. In some countries cryptocurrency is forbidden due to severe famine and economic downfall. Tax helps the communities to have a better life if possible.

Offline TripleVodka

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Re: Do crypto traders pay tax?
« Reply #2 on: October 30, 2018, 12:21:26 PM »
I think every traders pay the tax but indirectly, even maybe feel not pay the tax because we just need pay for the gas fee and withdraw fee.
But why I say if they pay the tax indirectly?  Because every exchange will pay the tax for their company, that like business tax into the related governments, and the exchange will charge the tax into the customers or traders by their gas fee of their withdraw fee and maybe not all customers or traders know about this, because the exchange have office and they not anonymous.
This is happen in my country, Indonesia and I don't know how about another country, maybe another members will reply by their knowledge about how the exchange at their country bellow. Thanks

Offline Leebarnes

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Re: Do crypto traders pay tax?
« Reply #3 on: October 30, 2018, 03:08:03 PM »
I think taxes for crypto traders maybe also  done by the bracket and it will depend on how much you trade and what tier or class trAder are you.

Offline Abusadeeq6

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Re: Do crypto traders pay tax?
« Reply #4 on: October 30, 2018, 03:44:07 PM »
Yea,,, to regulate the Crypto community,, we need t pay taxes,, that is tax for trading, withdrawing and so on.
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Re: Do crypto traders pay tax?
« Reply #5 on: October 30, 2018, 04:31:29 PM »
It cannot be totally traced so they probably better for governments to not stress themselves trying to run after crypto tax evaders. It is on the traders or investors to decide to declare their earnings or not.

Offline Ghozrd

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Re: Do crypto traders pay tax?
« Reply #6 on: October 30, 2018, 06:10:24 PM »
Every country has different rules for crypto taxes that they have, if you read in more detail, you might see that each centralized exchange also has the same tax rules.
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Re: Do crypto traders pay tax?
« Reply #6 on: October 30, 2018, 06:10:24 PM »


Offline trofim21

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Re: Do crypto traders pay tax?
« Reply #7 on: October 30, 2018, 09:05:05 PM »
In my opinion, the payment of taxes is very good, because we will increase the economy of the country, and in addition to the whole, the cryptocurrency will be officially allowed in many countries thanks to taxation, I am in favor of imposing taxes.  8)

Offline tamango

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Re: Do crypto traders pay tax?
« Reply #8 on: October 30, 2018, 10:35:08 PM »
It's not easy for countries to check tax payment for crypto because many exchanges are decentralized so that there is no way to control them. So I think you can decide not to pay taxes for your capital gains until you change to FIAT if you want in a quite safe way
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Re: Do crypto traders pay tax?
« Reply #9 on: October 31, 2018, 01:49:33 AM »
Until now, crypto users in our country in Indonesia are free from taxes, I don't know yet whether other countries are the same as Indonesia, maybe in the future the government may set a mandatory tax payment for crypto users

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Re: Do crypto traders pay tax?
« Reply #10 on: October 31, 2018, 02:49:49 AM »
Germany announced tax free for all crypto users.
I do not think this "Germany announced tax free for all crypto users" is entirely correct, maybe crypto transactions but not the net gains or profits from crypto trading which falls under personal income taxes.

I don't know about other countries but tax are paid directly or indirectly by each one. Traders may not be charged taxes for their transactions but indirectly, they pay their quota of tax to the exchanges where the trading is done. These exchanges pay taxes directly or indirectly when making the final conversion from crypto to fiat.
Various exchanges accounts for their taxes and most probably pass it down to all users in the form of "fees".

Offline MOProgress

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Re: Do crypto traders pay tax?
« Reply #11 on: November 01, 2018, 04:36:48 AM »
I think they don't pay tax to anyone, or maybe some exchanges that obtained license before operating as exchange do deduct tax from their users, otherwise I don't think so. maybe someone know more here.
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Re: Do crypto traders pay tax?
« Reply #12 on: November 01, 2018, 04:46:42 AM »
Yes, it is vital to pay tax due to countries more development. Crypto money from crypto traders is a big help to build more infrastructures to have a better industry but this will happen once it was implemented by the government.
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Offline mlegend

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Re: Do crypto traders pay tax?
« Reply #13 on: November 01, 2018, 07:32:29 AM »
Most of these Crypto traders do not pay taxes and they are free to trade in this crypto world. Because Crypto uses Blockchain technology, which means that the Crypto system is decentralized, making people and users use this to be able to make transactions without using third parties like banks and not paying taxes.

Offline napster

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Re: Do crypto traders pay tax?
« Reply #14 on: November 01, 2018, 08:21:51 AM »
I am not sure if too many countries are cutting tax money from traders. As per my opinion, they should.
It means that countries and governments started to regulate this area since they want to earn money from crypto.

This way we would have clear head. I am willing to pay taxes if they do not touch me again.

 

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