Post
Topic
Board Economics
Re: How to TAX Bitcoin. An easy way !
by
ilovefeetsmell
on 30/07/2017, 09:51:35 UTC
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.
Your statement was correct, also agreed with you. Earning bitcoin is no fee or charge, or in short tax but once the bitcoin exchange into fiat cash or money and you buy some goods, then it will have tax. We all know that all goods have tax so we considered it as paying tax. Not paying the tax directly to the government but we pay because of buying those goods.

If bitcoin wasn't created, can we afford to buy goods and services with tax? Of course, not! Bitcoin helps people and also the government to collect those taxes.