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?
I think yes because taxes are contribution in our society,community and country. Taxes will give fund in the technology and structure. People thinks that they can help to our country by paying taxes in bitcoin in the future.
Let us say that bitcoin has already tax imposed on it and due to its anonymity so we do have options to make whether to declare it, declare half or little or not at all, so who are we making fool at? the government? We may fool the government and I myself sometimes guilty but do you think we do have difference in the corrupt officials? I doubt.
We have the options to make and we do have the choice in which path we will decide, just remember the consequence it may throw against us with the decisions we made. Remember we are the creators of our own action and will take full responsibility for it after.
We all have our own free will and it is up to us to determine what is the right thing to do. Laws and rules are made for us to follow but at the end of the day, it would be up to us whether to follow it. Tax may be imposed on crypto but it would be up to the user whether to pay them and consequences may follow because everyone must be responsible of their own actions. I believe that users would pay their taxes if they want to be law abiding citizens.