Quote from: Lumada on July 30, 2017, 07:13:07 AM

Quote from: ss890 on July 30, 2017, 05:57:00 AM

Quote from: matuson on June 17, 2017, 10:12:02 AM

But that your government recognizes bitcoin as a currency? I doubt it. Your income in bitcoins according to the law is not revenue. If you buy goods with bitcoin it does not fall under the tax base. If you exchange them for your currency, then taxes will have to pay.

Yeah that explains everything in one shot. Before you could think of paying tax on bitcoin you need to know what is the legal status of bitcoin in your country.

Filing of bitcoin may not needed if it is considered as commodity or asset in your country. It has to fiat currency and to be transacted through your bank by means of real banking system. As long as it is bitcoin form it's not taxable.

I don't want my bitcoin to get taxed, maybe they can put taxed when there's a physical stores accepts bitcoin, through adding fess but not literally on just by obtaining it they will add tax,thats too rush.

They cannot taxed bitcoin literally but the moment you converted it to cash and you gain something from any transaction
as a general rule you have to pay taxes on it. I don't know how because every country has different rules and different implementation.