Quote from: ApocalypseNow on October 28, 2017, 02:52:57 AM

Quote from: MiF on October 28, 2017, 02:35:03 AM

Quote from: davis196 on July 29, 2017, 12:09:59 PM

I live in a country in the EU and i tried to get some information about how can i pay my taxes for my btc revenue.
Acording to my country`s legislation:
1.Bitcoin isn`t digital money.
2.Bitcoin isn`t a digital asset.
Acording to the laws,bitcoin is nothing...BUT acording to the same legislation,i`m obligated to pay taxes for all my revenues,including the income from online trading.What if all my income comes from bitcoin trading?
Do i have to pay any taxes or no?Sorry,if this questions is asked here before.
Is this ridiculous?

What a weird country that they wont acknowledge bitcoin but you must pay income tax of every income that you have earned from bitcoin. My question is how would they know that your money came from bitcoins if they did not acknowledge how bitcoin works? Maybe you are very honest people that you just voluntarily paying income tax by honestly declaring that you earned fiat that much for this month. The government cant able to trace our transactions so therefore you are paying honesty so its up to you if you want to pay all bitcoin taxes.

I agree. That is very confusing. I won't pay any taxes if the legislation itself doesn't recognize btc. On what category does btc belong to? It's not a money and not even an asset to them. If I were you, just find another country that won't make this tax laws for btc complicated.

It isn't according to the law!
They are asking you to pay income tax and they don't care what gave you this income, they just want the money. That's why the law states what it states.
According to the tax law, that is basically the same for every country, even if you get cash for mowing your neighbor's lawn, or find money lying on the side of the road, you are supposed to add it to your yearly income and deduct the tax. Nobody does that, but that's what they'd like you to do.

So, they don't have laws concerning Bitcoin and treat it like air, which allows them to ignore people who lost it or had it stolen, but when those people get income from exchanging it, the government wants a share.