Quote from: n0ne on Today at 09:30:53 PM

Quote from: Flexystar on February 06, 2022, 06:13:53 PM

Accepting the crypto taxes does not necessarily mean that government or central banks are actually accepting them as legit assets. Remember that tax acceptance could be Trojan horse situation where Government is saying that they are in favour of it but deep inside they could be plotting big arena battle. The recent case with India, where budget stated that they will levy 30% taxes on the crypto earnings. Just imagine the situation of those who are in India right now. I mean they may be happy but they may not be really happy!

It’s not full ban at all, but it’s indirect ban because who would pay 30% of their income straight in taxes? That’s sorrowful and they can’t just deal with it.

What we see with India is different. They should give the governments stand on cryptocurrency usage and further about the tax. What has happened is straight opposite, they've taxed heavily and then said just because cryptocurrency is taxed it doesn't mean it is legalized. So what does this people do, whether they can make use of it or not. For such a situation it is good to have a clear view as China. If I'm not wrong India won't make a conclusion statement, because it looks like more politicians invested into it.

I think the people of India will not be sad much because I check about their income tax on normal currency and they are also taxing the normal income up to 30%. The income tax starts from 5% and reach to 30% with the ascending of Indian citizens income. The only difference is that the tax on normal income starts from 5% and reach to 30% while the tax on crypto is fixed 30%. Those who already paying normal income tax will find it familiar but those who are new to taxes will find it a little hard.