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If I cannot understand the laws/regulations, what am I supposed to do? A fairly widespread legal rule is that ignorance of the law is no defence. If you don't understand how the law applies to your situation, you are expected to seek help from someone who does. You can contact your local tax authorities and ask them, or you can pay for advice from a tax-...


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Tax questions should largely be off-topic here, as they are so jurisdiction-specific. But nonetheless, a general answer is sort of possible here: In many jurisdictions, you will be liable to pay capital gains taxes when you make profit buying and then later selling some asset. This tax is calculated when you report your taxes to your local tax authority, so ...


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Paying taxes / buying goods / etc with Bitcoin, is equivalent to selling the Bitcoin and paying with fiat, except that it might be more convenient and save transaction costs to do it in one step. Thus your question boils down to "Why would anyone 'waste' Bitcoin by selling it?" And of course there are many rational reasons to sell Bitcoin: you ...


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Bitcoin Core is open-source software run by you. Since you control the funds, I would expect that they reside in the same country as you. I am neither a lawyer nor a tax consultant, but you should probably talk to one of those if you being in control of your funds is insufficient to resolve your problem.


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I am not a tax advisor, and you probably want to seek professional advice in your jurisdiction instead. That said, it would seem very strange to me that merely transferring funds within wallets/accounts of your own would be considered a trade for tax purposes. I would expect that some conversion to another asset type is needed for that.


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El Salvador has now passed a law that makes bitcoin the country's legal tender. The US dollar will continue to be legal tender in E.S. Anyone in E.S. who lacks the necessary technology does not have to accept Bitcoin. Does this mean that when the law comes into effect in September 2021, other countries will presumably start treating bitcoin as a foreign ...


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El Salvador has now passed a law that makes bitcoin the country's legal tender. Does this mean that when the law comes into effect in September 2021, other countries will presumably start treating bitcoin as a foreign currency? It is possible that few countries consider bitcoin as foreign currency. Every country has their own laws for foreign exchange. ...


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Who in their right mind would waste their Bitcoin on taxes or buying random stuff? Can't comment on taxes because it's different in every country and depends on individual how they manage it. Who would use their bitcoin for payments? Holds only bitcoin and no fiat Not interested to see few things in bank/card statement Merchant accepts only bitcoin or ...


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I am not expert in US law, but I have understading of taxes in my local country and general principles. In general, transactions and taxes are made in local currency, unless it is external trade, financial (like currency exchange) or other operation allowed by local tax/economic laws. Even if transaction is made in foreign currency, it is treated for tax ...


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