Quote from: jeromix on November 08, 2018, 10:30:29 AM

I do not see that crypto will be considered as an asset and will be taxed like this. It is not fair because cryptocurrency was also used as a form of payment and not really an asset.

Cryptocurrencies (esp. BTC) are being seen as speculative assets only through which people can earn a buck by ^investing^ (putting) their money in them for a certain period of time (or till whenever they can hodl). It's true that market conditions have never been the same and are unfavorable at times, so something that's uncertain - can't be called a currency first of all as there's no stability (and it's actually not even needed Wink

) We can't really decide what's fair and what's not as finally, the power is in their hands to approve/reject crypto trading and if approved, then on what conditions.

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Government may able to taxed crypto but they should consider doing it on those local exchanges. The local exchanges are the best tool for them to tax users on crypto during the trade. The government could implement and additional a percentage of tax on every transaction being made in the exchanges.

I believe they are already doing it [as a few exchanges take a fee (not talking about escrow charge, but tax that either they need to pay or it's charged on the user end itself) to give to Governments], and they've even got our back with the KYC norms that need to be met as a requirement, else there won't be any such trading allowed. The LIFO and FIFO methods presented here by dkbfl is something you should look for, or create your own method to keep records of every single trade you make, so not to get in any problems like getting caught by them under the radar for not paying taxes or not keeping records.