Quote from: Jake052478 on December 20, 2017, 02:09:09 AM

Quote from: bornil267645 on April 17, 2015, 05:35:43 PM

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the worlds largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

Sooner laws will be passed by our lawmakers to regulate and tax this new scheme of currency. As of today, the only tax collected using bitcoins in the transaction is Value added tax or VAT. A direct tax is not yet applied so there are still leeways who earn income through bitcoins. The moment lawmakers studied the benefits and use of this currency, they will eventually regulate and imposed tax on it... just wait...

Taxes are coming we all know that the issue is if people are going to comply, are people going to say OK I'm going to pay you this tax as you order or are we going to see people resisting that and keep doing their thing in bitcoin without worrying about what the government is saying, I think many are going to pay their taxes but many others are going to disobey those laws.