When do you think governments will start taxing cryptocurrencies?

[Dotdotnetworks]

More and more Internet companies are using cryptocurrencies to receive payments, which is a perfect way to avoid taxes. The government lacks regulation on cryptocurrencies, but this situation will not last forever. So when do you think governments will start to impose taxes on cryptocurrency payments?

 

[Deleted member 1603965]

Here in India those who trade on Centralized exchanges have to pay 1% TDS on each B/S transaction and 30% on any possible capital gains.

 

[Fallon Desi1]

More and more Internet companies are using cryptocurrencies to receive payments, which is a perfect way to avoid taxes. The government lacks regulation on cryptocurrencies, but this situation will not last forever. So when do you think governments will start to impose taxes on cryptocurrency payments?

If you're accepting or using crypto for business, it’s smart to start:
- **Tracking transactions** carefully,
- **Converting them into fiat equivalents** for reporting,
- And preparing for **future enforcement** — because it’s not *if*, but *when*.

 

[DigiMarky]

In the Philippines, the government has required Filipino traders and owners to report their capital gains during their annual tax filings. There are also other regulations regarding this. Not sure when would other countries do that too, but there are some that have already started.

 

[india]

We are already paying 30% taxes here.

 

[OUG]

In my opinion, it is difficult to say when exactly governments will start imposing taxes on cryptocurrency payments. It will depend on how fast they understand and regulate this new technology. Governments may begin thinking about taxes once they see how much money is being moved through cryptocurrencies. So, it's hard to predict the exact time, but it is essential for companies and individuals using cryptocurrencies to be prepared for when taxes do come into play.

 

[nidoke]

It’s already happening pretty much worldwide, there’s a couple of taxfree countries left. I think regulation in the crypto market is a good think though, means it’s moving forward to being mainstream.

 

[Crytononame]

So when do you think governments will start to impose taxes on cryptocurrency payments?

It's only a matter of time before governments start heavily taxing crypto payments, probably once they get the "travel rule" working smoothly on the main crypto ledgers.

But even now, the taxman cometh for profits, doesn't he? Income tax automatically covers any earnings, including those from your crypto investments and day trades.

Loads of countries are already on the crypto tax train, either with specific regulations or by making local crypto exchanges their unofficial tax collectors through licensing.

 

[moonshine7000]

EU is planning DAC9 from next year .Buy crypto peer to peer no KYC BS and start to flee the country

 

[Racc00n]

Taxation is theft. If you like being robbed, then file all the reports and pay your taxes like an obedient slave.
If not, then stop feeding the vampire that sucks all the life from economy.

 

[growyourbrand]

Here in India those who trade on Centralized exchanges have to pay 1% TDS on each B/S transaction and 30% on any possible capital gains.

even on 3 years old P2P Transactions 1% TDS?

and on Deposits or money received from clients also 1% TDS?

 

[chmakrt]

EU is planning DAC9 from next year .Buy crypto peer to peer no KYC BS and start to flee the country

DAC9 is for multinational groups. Doesn't affect individuals.

 

[Deleted member 1603965]

even on 3 years old P2P Transactions 1% TDS?

and on Deposits or money received from clients also 1% TDS?

I never said p2p. I said exchange trades.

 

[moonshine7000]

DAC9 is for multinational groups. Doesn't affect individuals.

Sure but EU want to shut down these tax havens by placing them on blacklists and sanctions if countries don't comply.Nothing lasts for forever you got to prepare for the worst.

 

[savitri]

More and more Internet companies are using cryptocurrencies to receive payments, which is a perfect way to avoid taxes. The government lacks regulation on cryptocurrencies, but this situation will not last forever. So when do you think governments will start to impose taxes on cryptocurrency payments?

Many governments are already taxing crypto. If your country is not taxing, take full advantage of this situation.

 

[chmakrt]

Sure but EU want to shut down these tax havens by placing them on blacklists and sanctions if countries don't comply.Nothing lasts for forever you got to prepare for the worst.

Well, true, but generally everyone around the world wants it shut and taxed.

Personally I'm not moving anywhere, there are many legal or semi-legal ways to pay way less tax without having to live in Dubai or some third world low tax heaven.

 

[growyourbrand]

I never said p2p. I said exchange trades.

capital gain tax?

On Instagram many reels claiming that on old transactions fine for deposits & for p2p also

 

[Deleted member 1603965]

capital gain tax?

On Instagram many reels claiming that on old transactions fine for deposits & for p2p also

Again, for the last time, I am not or rather was not talking about P2P. I hope it is amply clear now.

 

[kokura]

Apart from a couple of tax havens like Singapore and UAE there’s already a tax implemented in pretty much every other country.

 

[Gary Morant]

Governments are already beginning to impose taxes on cryptocurrency payments, and global enforcement is likely to strengthen within the next few years.