Post
Topic
Board Legal
Re: Taxes on Bitcoin
by
olubams
on 01/11/2016, 13:44:23 UTC
Hi Everybody,

When getting Satoshi/Bitcoins from the internet in general, could you please tell me whether you have to pay tax to the country you get them from or do you just pay taxes to your own country?

Thanks for your help.





The reason why i am using Bitcoin is because i do not have to pay taxes when doing any kind of transaction yet. We only pay for transaction fee when we are doing a transaction but it is only a small amount so it is okey and those are for the miners. If in the future that my country will tax using Bitcoin maybe i will stop using Bitcoin and find another crypto that has no tax yet.
but i think we will still play gambling if tax is imposed on bitcoin, as in my country there is no tax on illegal thing, the government has to turn bitcoin legal first and only then they can impost tax on it, and it will be too good for bitcoin if our government turn bitcoin as legal currency.

Its virtually the same way in all country that are yet to accept Bitcoin as currency because literally you cannot not taxed what does not exist and so far Taxes have to do with laws backing it up, then you have to legalize the source of the income first,then you can now then talk about taxing it. Over here, the law is kind of silent about the whole matter altogether and for those who have been exposed to it including myself can get to enjoy it while it last...