in your country income from bitcoin taxed? state the country
In the Philippines, Bitcoin is not yet taxed. However, the Philippine Bureau of Internal Revenue might start to collect tax sooner after the they issue a clear guidelines on cryptocurrency transaction. The tax to be collected will depend on the classification of bitcoin. Hopefully, the tax to be collected will not be too high. This because Bitcoin is a good source of income to compensate the increase of the living cost due to the newly imposed excise tax.
Well, it is okay to imposed tax for as long it won't burden enough to the tax payer, the bad thing in our government is that they are abusing their power by imposing a tax that is really burden especially to ordinary person. Just like when you have a passive income and you are required to pay 20% final tax that 20% is too big for me. I think it is not fair enough.