Quote from: megynacuna on January 19, 2017, 10:37:01 AM

Quote from: Jemzx00 on February 11, 2016, 03:40:17 PM

Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??

Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??

Well I want us to get a clear distinction here. There are two(2) forms of taxes-Direct and Indirect taxes. Direct taxes are taxes that are imposed and collected from an organization or some group of people responsible (a good example is your income tax). The government has control over this form of taxes and the second one which is indirect taxes refer to taxes that are collected from some people or organization other than the entity or organization directly responsible (A good example is the sales tax). With regards to bitcoin, it is totally decentralized and so governments will not be able to control and impose direct taxes (like income taxes) on its citizenry but the governments can earn indirect taxes (sales tax) from bitcoin transactions because of its usage in procuring goods and services.I would like to end by saying that the transaction fees of bitcoin are almost negligible and they go to the miners and not the government.

there is no direct our indirect tax in bitcoin. Just it have transaction fees and that doesn't go to government it goes to miners who verify the the transaction. And when you use bitcoin, you are not giving any taxes to government. You use it in black.