Quote from: Asuspawer09 on November 17, 2019, 06:35:58 AM

Quote from: Artemis3 on November 16, 2019, 08:15:53 PM

Quote from: Newchanka on November 16, 2019, 06:37:27 PM

What is your country's policy on taxation on cryptocurrency? Secondly, have you used Bitcoin ATM before? I heard about Bitcoin ATM when they installed them at the Melbourne airport. Please share your experience on BTC ATM and taxation.

As far as i know, you are supposed to pay some sort of tax for "money brought to the country". This can only occur if you use a State approved exchange. I doubt many people use those, there is no need unless you want to get rid of Petros...

Because ATMs are physical, i suppose they are prone to State control. I don't see myself ever using one...

How exactly can you enforce Bitcoin taxation? Force people declare what their wallets are? What stops them from having hidden (undeclared) wallets?

Bitcoin is nowhere physically, and everywhere. It lives on each node, which there are several across the globe. It is not really crossing borders, and yet reaches everywhere. The old thinking just doesn't apply here.

Since its not really "in your jurisdiction", how exactly do you intend to enforce your laws to it?

Only way i can see some taxation going is, for example VAT. At purchase at a shop, and even there could be undeclared (hidden) wallets. Similar to people wanting to avoid taxation, they could forge the accounting book, etc. It would need to be investigated, which you can do a (physical) shop. And then you would also need to make sure your tax collectors are honest, and at the end you have a police state that can never ensure everyone is paying their taxes, but spend a lot trying to make sure they do (If only that money was used elsewhere...).

The government won't have any tax in bitcoin, it is just like the Internet the government cannot stop bitcoin but not in a direct way the government somehow gets tax in transactions.
We know that in a bitcoin wallet company we pay a transaction fee in every transaction and as a business, the company is the one going to pay taxes to the government so we still pay taxes but not directly.
Also, ATM or bitcoin ATM has a high fee nowadays so I think the tax was already added to the fee in every transaction.

No i don't pay any tax from bitcoin because the government does not regulates bitcoin, that is why they don't have the rights to put taxes in cryptocurrencies. When converting our crypto into fiat and vice versa in crypto wallets it is required to pay fees, but i think those fees are not taxes because we only pay those fees for their services from using their wallet.