Quote from: GigaBit on Today at 11:03:23 AM

Quote from: Sanitough on October 25, 2024, 09:57:32 AM

This new proposed bill sounds wild. It would mean holders have to declare their assets and pay taxes on any increase in value from their original purchase, even on unrealized gains. So, even if you’re just holding, you’d have to report it every year.

Now, if the value drops, sure, maybe you’d pay lower taxes or get a tax offset, but it’s still odd. Think about it: you buy Bitcoin at $10,000, and over the next five years, it rises, so you’re paying annual taxes based on that value increase. But then, if the price tanks overnight and you sell in a panic, you’re at a loss - yet the government’s already pocketed tax from your unrealized gains.

Some governments are still discouraging their citizens from investing in Bitcoin. Although they are not able to directly but indirectly their tax policy is showing that. Even if a person does not make profit by holding bitcoins, he also has to pay Tax. I don't know how reasonable such conditions can be.

Denmark is definitely one of the paradise states on earth. Where people are most interested in living. Their rules and regulation is promising but in recent times there are doubts about whether they will be able to implement the rules they are taking on taxing crypto. Although ideas have been proposed, no final decision has been made yet.

I am not against tax. But of course it will be supported by all if it is based on fairness. The Danish government is discussing taxing ordinary investors differently, with tax on those who benefit and a tax on those who retain. Since this is not approved yet , I think they must change this policy. Lowering the tax level can be another good measure for this industry.

They want to tax everything. Governments that want to tax unrealized gains can change the investment status of many people. Crypto provides people with a lot of freedom and trying to limit this freedom with some laws is a difficult situation for investors. Everyone who invests can make a profit or a loss. It is not right for governments to tax people for investing.

Governments should make it easier for their citizens to invest in Bitcoin. How can they make it easier? Among the actions that governments should take is to ensure that crypto exchanges are legal and communicate with exchanges to ensure the safety of citizens investing in crypto.

Taxes are necessary for governments and should be implemented, but it is not right to tax unrealized income as stated here. Before such policies are implemented, people are informed and discussed and a path is drawn up as to whether the policy will be implemented or not. I think they will not implement such policies.