Quote from: virasog on Today at 06:12:57 AM

Quote from: lumeire on May 30, 2020, 06:27:36 PM

Quote from: fiulpro on May 26, 2020, 07:40:43 PM

Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?

Taxation on Bitcoins is essential for promoting Bitcoins and their use either as an investment or as a currency. As government holds an account of all the various amounts of tax collected from a sector and then they also give benefits to the people in those sectors depending upon the tax they collect. So if they collect huge taxes from bitcoins industry then they will most probably have more attention towards it which can be good for the future of Crypto itself.

Most of the people want to use bitcoins because it is tax free and decentralized. Although government will love to tax on bitcoin too and make it centralize but I don't think people will agree to it. People need financial freedom and therefore they use bitcoins because it is decentralized currency.

If the government will create a law regarding on mandatory taxes of all digital assets including the cryptocurrency then all of cannot do nothing with it even if you like it or not, But I think this is good since by implementing that for sure they will look on cryptocurrency and monitor the movement of it for sure in future we will see a legal adoption as well the market will wide since it will be accepted on merchants.