Post
Topic
Board Bitcoin Discussion
Re: Be careful with your crypto holdings and what you do with it
by
Catenaccio
on 19/06/2024, 12:01:11 UTC
Then be smarter than them and don’t get caught. Otherwise they will make you suffer. Mind that, Being smart is a combination of various actions. Let’s say you are evading taxes (which I never recommend but if you are going to do it, do it smart) but it is only a few ten thousand bucks ( I am making up a random small number which can change for every country) then you might get away with it because the tax authorities will be spending their resources to catch bigger tax evaders first. That was just an example. What I mean is, it is important to keep the low profile.
When governments force their organizations, facilities to apply technology more seriously and force citizens to do more things in society through online systems and applications, they have almost all necessary data in real-time. It saves them a lot of time and human resources to do data entry manually like years ago that need more time to complete and can cause mistakes from data entry step.

So with available real-time data, and with big data mining, analytical tools nowadays, they will catch you if you do tax evasion. I agree with your advice that as citizens, we should fulfill our tax responsibility to avoid any trouble in future. Sometimes, there is barrier like government does not have updated guideline on tax report for new things like cryptocurrency. We need to follow their update on it and fulfill our tax reports and tax responsibility.