Quote from: Coffee135 on January 27, 2018, 01:16:19 PM

Quote from: stomachgrowls on January 26, 2018, 08:05:23 PM

Quote from: MadScienceSocks on January 25, 2018, 06:55:59 PM

Cryptocurrency and taxes. It is controversial topic. Noone want to pay taxet especially for bitcoin. Now this is a very profitable business and soon the government can introduce taxes on cryptocurrency nevertheless. But we can`t "touch" or "hold" it so in what way cryptocurrency might be taxed?

In my opinion, cryptocurrency may be taxed in the same way as a program or any sale or purchase transaction. Regardless of what you are selling, if you are profiting, you are required to pay tax.

What do you think?

Government might not able to impose taxes directly on transactions being made on crypto or into bitcoin but come to think off that we do make conversions from btc to local fiat which that would be the time government will really impose taxes from us. Why do people afraid of tax? As a citizen its an obligation and others do really strive to evade taxes as they can without even thinking on whats the actual purpose of it.

People don't want to pay taxes because they do not trust the government. We cannot influence the distribution of our taxes. It's one of the reasons. Another reason is human greed. No one wants to part with their money. Even here on the forum we constantly see examples of how people from greed try to destroy each other. In this world everybody needs money. Moral principles do not matter.

I guess it's a battle of power if who is on the top shall prevail but there are some people who used to think and used their own principles in which they put their honor as a law abiding citizen. If there is no corrupt government, people will pay their own taxes no matter what it is but due to the corrupt officials in each and every district in the office you will find there's a lot of them. In which they will use your vulnerability to extort you in exchange for money. If these kind of people are remove in their positions, i'm sure those tax evaders will become lesser than the usual.