Post
Topic
Board Bitcoin Discussion
Re: Is this reasonable?
by
Mpamaegbu
on 24/02/2025, 15:10:19 UTC
In my country, the Philippines, crypto owners are urged to declare their crypto capital gains for annual tax filing. This means that we are urged to pay taxes, and I don't think this is reasonable enough since crypto was not yet considered a legal tender.
In a way, your government has officially recognized cryptos and not criminalize it like the case in my country. It's a plus for you guys. In my case, as it stands now, I personally don't even know the exact position of my government on cryptos. It's either police is harassing poor people who are into cryptos on the road, searching their phones and threatening them of breaking a law they the police can't cite once they find any crypto app or stuff on such phones or banks are banning accounts with crypto related words during transactions. It's a gamut of confusion. Even with all that, Nigerians still pay tax on trading transactions on exchanges that are still allowed to do business with Nigerians. They may claim it's just a fraction as tax but then it's still something.