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?
This is a never ending argument and issue about bitcoin towards government and taxation where we do always assume that government can able to impose taxes directly which isnt really possible but in regard or terms of cashing it out into local fiat then thats the time on where they would set in and do require those obligations (tax) to be paid off. People can easily hide their money through bitcoin but they cant really avoid when they are already cashing it out.