When do you think governments will start taxing cryptocurrencies?

[learnandearnwithseo]

Already happening at most places. In my country , government has put tax of 30% on crypto income.

 

[JoBlow]

Governments will not allow it to go untaxed. I'm not saying that's right, just saying the governments won't allow it. I remember when BTC was supposed to escape all this stuff. The governments have won the crypto battle because the sheep complied every step along the way.

 

[Reddevil007]

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

How does one do that

 

[moonshine7000]

Governments will not allow it to go untaxed. I'm not saying that's right, just saying the governments won't allow it. I remember when BTC was supposed to escape all this stuff. The governments have won the crypto battle because the sheep complied every step along the way.

So true bro

 

[Heath Mays12]

Sooner or later they will do this but the question is, how they will regulate it?

 

[bymetin]

Cryptocurrencies are taxed in Turkey. This is very unfortunate.

 

[Brady Orton]

Governments around the world have begun taxing cryptocurrencies in various ways, but the specific approaches vary widely

 

[Nyvra]

Crypto is taxed as property. Capital gains tax applies when crypto is sold, traded, or used for purchases. Businesses accepting crypto must report it as income at the market value when received.

 

[Panther28]

Lots of advice here. I'll chime in with don't trust a word of it, speak to your accountant on the subject only. You'll get a source of truth answer on the topic. That's why you pay them a retainer, right?

 

[RealAds]

i guess they do, but they have to think and make a roadmap how it will be effect on practice

 

[Dream Technology]

It has already started

 

[WAndreas]

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?

Before working with cryptocurrency, I would first clarify how the platform would behave. Many people think that they will not report to the tax authorities of your country about your actions. But this is not the case. And the first call that they can do it directly or on request is to pass verification. You voluntarily go through it yourself. Binance, for example, requires KYC for almost all transactions (including deposits and withdrawals). Crypto.com can also go this way. I recommend to pay attention at any registration to one important point: if it is required to specify your taxpayer number, then rest assured, the data on your transactions will be sent to the right place. Last year, as far as I know, there was a story with Baybit, which gave transaction information upon request. Many marketplaces (same Bitget) provide options to collect information for tax filing or the entire return itself. Do not require DEX (for example, Uniswap, it's simple there at all ) to pass KYC. And in this case they just don't know where you are from, and there is no one to report your transactions to. If you use a platform (e.g. Cryptomus) as a merchant, such platforms, as a rule, do not automatically report your earnings, you have to do it yourself. But in case the volumes are large enough, you may be asked for KYC.
This is all to say that Governments have long been standing aside from collecting taxes from cryptocurrency transactions.
And by the way, even if you have not undergone KYC, the transactions are always traceable all over the blockchain.
Personally, I have been paying taxes (albeit quite small) for quite some time now. It allows me to avoid all sorts of worries about conflicts and penalties.

How does one do that

buy or run?!

 

[Cryptocgamp]

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.

They've started already..that's why cex made it mandatory for kyc.

 

[MeetWithOurSEO]

I’m not sure but Türkiye is upgrading security protocols

For example

If u get some tether to your account

you should wait 72 hour for withdraw to any wallet