what if the draft proposal recommends and government implements a very high tax like 80 to 90 % tax on all your bitcoin returns...
what will be your opinion..
What is the ideal percent which governemnt can impose on bitcoin gains as capital gains?
then people will declare its all income to avoid such a high bitcoin capital gains..
then what will govt do?
80%Tax no way how they gonna tax us, that will only open a black market, which they cannot control. They can never gain excess to your wallet and like hey man we gonna tax you for this much bitcoins, as they can easily control your bank account. Best way is to either keep the mouth shut and ignore the bitcoins and see what other countries are doing or tax it normally and see if bitcoin holders are ready to pay.
It is very complicated to tax it right now. Ball is in the hands of normal average bitcoin holder, they gonna have to make them happy to pay taxes but not to force them. Even if they gonna make it illegal how they gonna stop it from trading, you can easily send your bitcoins anywhere in the world in a min. So its pretty hard to guess what they are thinking but either we don't have to worry