Post
Topic
Board Legal
Re: Has anyone sold BTC won here in sig campaigns? how does tax work?
by
darkangel11
on 25/01/2018, 20:46:20 UTC
Whether you like it or not, the government want you to pay taxes on your signature campaign earnings and airdrop tokens. With each passing day, they are eliminating loopholes which can be used by crypto-users to avoid taxes. Very soon, we will be required to give details of our crypto-holdings. If we hide our holdings, then they will proceed with tax evasion charges.

And how would they do it according to you. For instance the government can say they require all people to pay taxes on porn and declare how much porn they're watching a day. It would be as ridiculous as asking us to declare our cryptocurrency holdings, reveal all our addresses and pay yearly tax on coins that are in our wallets,
It would not only be a futile attempt, but also an enormous waste of resources on their part. And of course it would be against the law in most places because you can't require people to pay taxes on their whole wealth. If you have gold or jewelry you aren't obliged to calculate its value every year and pay a tax if it happened to gain some.