Ninjastic
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Re: How do I avoid tax on crypto
by
ocid
on 03/03/2018, 03:27:16 UTC
Quote from: Hamphser on February 28, 2018, 08:08:28 PM
Quote from: ecnalubma on February 28, 2018, 05:45:31 PM
Quote from: Kprawn on January 25, 2018, 03:13:39 PM
Quote from: Franke666 on January 25, 2018, 03:03:48 PM
If I make money on crypto currencies. How do I avoid as much tax as possible?

Bitcoin is a currency, not some solution to avoid paying taxes. The moment when people start using Bitcoin or any other

Crypto currency as a method to avoid paying taxes, then the government will step in and ban it. I would much rather pay the

taxes and be done with it, than sleeping with open eyes, waiting for the Police to raid my house in the middle of the night.

That is no way to live your life... rather pay those taxes.  Wink
Crypto is not a currency but i believe and its more of a commodity that needs to be regulated. It sucks when the government will taxed everything but as a cictizens we must know our obligations and what is our role in the society. Lets not forget to help our government to grow, because if we hate taxes it can be a hindrance of our crypto growth.
Its always been normal in my mind when it comes for governments involvement when it comes to taxation matters which they do really engage with such thing as long they can able to sip out percentage of the total income of a particular citizen.Its really an obligation for its citizens to pay up taxes and its really a senseless thing to do on avoiding it yet we do all know on how important the role of taxes we do contribute on.
The tax of every country is very important for people's lives to be better and prosperous, because paying taxes is the right and duty of every citizen for the development and growth of the country. but most countries still can not formalize the existence of crypto, so taxation on crypto is not fully regulated by the government. It may be that at this time only certain countries may set tax payment policies for people who use crypto, over time, if all crypto users can use blockchain technology for positive purposes, it is likely that the country will fully control the digital currency and the crypto tax will be set by each country.
if it happens we should not avoid it because the taxes of each country aim for the development of existing infrastructure, we must support the existence of government policy.