Quote from: flower1024 on November 26, 2017, 05:15:17 PM

Quote from: MickeyT2008 on November 26, 2017, 04:55:35 PM

Yes, it just depends on your country, and of course, if you dont want to avoid taxes.
If you are on the US, dont even think about avoiding to pay those taxes, because you are going to go jail if you are catched up, it is a very difficult country to try to avoid taxes, lol.

in the UK you have to pay more than 20% of your earned amount with bitcoins and all the other cryptos.

Here in my country they are going to create a new law that says that you can just put all your crypto earnings in your bank, but you have to pay 15% of your total earned money, if you dont, you are going to go jail.

It only depends on your country and in your laws.

Hoo really but my question is how they can track? Through bank statement, they will get information where the money comes from. But what if we exchange our bitcoins for cash in local exchange then also they can track? In my country, our governament will not ask how you earn money but the end of the year you must do IT file and pay a normal tax to the governament.

Not too sure but if found out are you at risk of potential larger fines or jail time? Interested on the legality and transparency of operating within the laws opposed to hiding it