I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.
To pay tax with the use of bitcoin is a better option to show your honesty to the government Because most of the people in this field are making many thousands of dollars per month but still they are not paying tax honestly and showing that they are not making the use of the bitcoin perfectly.
Here in some countries bitcoin is regualated so people are using bitcoin with the pay of the tax smoothly but in those countries where bitcoin have no official approval to use or not to use is having a big confusion that why we should pay tax if no rule or law made by the government of the country and also why they are not decalres bitcoin as legal way of use Because they want tax .
Well here if in your country no rule made for the bitcoin then surely you should pay monthly with the option of the other category tax ( one of my friend paying tax much to use other category of the tax section