Re: Taxes on crypto

If there is a country where cryptocurrency is legal how much is the tax that we have to pay to the government? Also, how can the government track our transactions?

If it is already legally recognized in a country, it will be ensured that regulations will be made regarding crypto, so that the state can take tax legally because it is regulated by laws. if the regulation has been established, it will still be easy to collect taxes from crypto transactions. for example when exchanging with fiat and transferred through bank accounts, it can be directly taxed.

For now I myself have not heard from the country that asks taxes on bitcoin users. only a few exchanges require tax fees on every withdrawal a user makes to their bank account. if the tax is applied maybe about 10% of your annual income to crypto. as the government does for your salary in real jobs.

there is mate . there are countries that are now taxing the use of cryptos usually foreign countries are the ones that are going to imply it first because they are open to new possibilities . withdrawal on cryptos dont charge a tax but they are only called transaction fees and its normal because you need to pay for the miners to process your transaction . applying 10 % of tax is also quite a bit large , what about for small time earners ? they should not put a fix tax charges .