Quote from: carlfebz2 on November 27, 2017, 12:12:24 PM

Quote from: rickadone on November 26, 2017, 01:23:30 PM

Quote from: roddy5 on November 16, 2017, 03:30:06 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 Think taxes can only be computed once you converted your income to your
local currency less the expenses you had for your operation.

Yeah, so far, that is the only way and which is absolutely normal. As long as you keep making use of fiat and you are making profit on whatever you are doing even if it is by keeping your funds in your wallet, then tax is compulsory. Although, this differs in so many places but with the governments regulating the exchanges now, this is something that cannot be discarded. Anything asides conversion to fiat is not even possible.

Even if government would decide to impose taxes on miners they wont really have an idea on how much % they would ask and they wont really know for sure since its not still converted to fiat which means I do agree that it would still need to be converted first before it would really need to pay up the obligations. Mining operation specially do have large scale ones do really have serious profits which government would really keep an eye on it.

None of government will comes into the bitcoin and try regulize it until you are making conversation of bitcoin into Fiat cash via using banking.
In that time auto you have to show the source of income to have the current account in your bank. So automatically you will show the tax files up. Please keep check in your country whether they have the taxes on bitcoin or not.