Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Will Kill The Income Tax
by
JeffBrad12
on 15/12/2016, 05:09:21 UTC
Are you all mad? Bitcoin will make collecting tax easyer as tax can be collected at source when you earn and when you spend.

UK Government (Science Office) seem to be pro crypto as you can see fron this gov doc - distributed ledger technology.pdf
An interesting read, quote....
"Distributed ledger technologies have the potential to help governments to
collect taxes, deliver benefits, issue passports, record land registries, assure the
supply chain of goods and generally ensure the integrity of government records
and services. In the NHS, the technology offers the potential to improve health
care by improving and authenticating the delivery of services and by sharing
records securely according to exact rules. "

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

This is exactly the main reason why did the European government like the united kingdom did adopt and studied bitcoin right away because of that certain potential that you've stated(there is only a certain problem with comes to identifying its taxpayers tho, they should have to find a way about that certain matter
Wow! this could be a great news for everyone here. If the government of a certain country especially big countries it will be more popular and with popularity of bitcoin, the users will increase which would result to high price. I am glad I was able to hold my bitcoins and this good news will continue to happen.
I hope won't make jokes without reading the specifically about the ledger.