Quote from: bitterguy28 on November 24, 2017, 02:22:55 AM

Quote from: manuelcc on October 24, 2017, 05:52:32 PM

Somebody can help me about the taxes mining Bitcoins in Canada and USA. Taxes to import the hardware, income tax, etc.

i suggest researching if have a government regulation about mining in the said country because here in my country mining have nope taxes but the electricity power fees is very expensive, payment with expensive electricty i think is enough to pay taxes including in the electricity bill.

It totally balls down on the location just as you have said. I have been mining for a while and apart from the tax I had to pay alongside the hardware, the electricity bill I pay, there has been no form of tax. The only way I guess I may have to end up paying tax is if my government decides to start taxing when converting to fiat while making use of the exchanges.

Quote from: family934 on November 24, 2017, 07:22:59 AM

As a Canadian living in Ontario, I have been mining bitcoins and altcoins for quite a while and don't pay imposes on the bitcoin that I mined. In any case, that is for the most part since I don't offer.

In any case, from what I heard, on the off chance that you are a business and acknowledge bitcoin, you need to report it. In the event that you mined bitcoin and sold it, it considers capital pick up.

Well, those are capital gains and unless you report it, mostly by converting into fiat with the use of an exchange, then this is where tax comes in. Even without mining in some places and you just buy BTC, it is known that you will end up having some gains on it which means it is subject to tax. So, if you decide to mine, pay your electricity bills and leave your funds in your wallet, then tax obviously does not apply.