Post
Topic
Board Legal
Re: Do people have to pay taxes on Bitcoin?
by
Temujhin
on 08/08/2018, 05:53:04 UTC
Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.

Is it a good decision or bad?
As long as I use bitcoin I have never paid taxes, because in my country there are no regulations or tax collection on cryptocurrency, because the government still has not adopted and legalized the crypto currency therefore I hope to process digital currency because economic and development benefits will be good for country