Post
Topic
Board Bitcoin Discussion
Re: High taxation risk - India
by
The_Dark_Knight
on 24/05/2018, 03:47:29 UTC
I know that official regulations by the government can help to legitimate crypto. However, in India they want to apply a 18% taxation, I think is too much, and investing can be demotivating.

https://cointelegraph.com/news/india-considers-taxing-cryptocurrency-at-18-as-intangible-property-reports

Would you feel more skeptical if you country apply such taxation as well? Or would you be happy because they legitimating crypto ?
Taking into account the nature of bitcoin and how difficult it is to link a particular address or transaction to a person it is very unlikely that many people are going to cash out their bitcoins and be subject to that tax, after all why are you going to volunteer almost 1/5 of your profits to the government that did not took any risk in order to produce profits?