Quote from: Pogi2000 on August 20, 2020, 12:42:04 PM

Quote from: Immakillya on November 10, 2019, 10:35:06 PM

Here in the Philippines, there's no such law about imposing cryptocurrency taxation unless you declare it as income. The tax you are going to pay is the taxable income. The government is not strict on implementing taxation unless they found out that you earn from it.

Yeah, I think that as of now the government here in the Philippines do not recognize Bitcoin as a taxable goods but I think that they should start studying the bitcoin in order to cope up with other countries that statrting to recognize bitcoin. I think that in the near future bitcoin can help our country in order to minimize our debt and grow our economy.

Only if people are honest with their tax records and paying everything as per the policies but I doubt everyone will do that, most of them going to hide their income if it is not earned as salary from a professional job even signature earnings should be reported towards your income but how many of you does that?