Crypto Will you support tax payment using crypto ?

[Josemendez]

Presently there is ongoing plans to allow citizens to pay taxation through cryptocurrency and this indeed comes with merits and the merits.
Investors seems to be seeing the good part of it as this will enable them to pay taxes easily at the comfort of their house . They fail to forget that it will also expose their wallet address to the government which can thus be used in tracking their inflow and outflow of funds in the CRYPTOSPHERE.

The blockchain has made it possible that with someone's wallet address , all his activities can easily be tracked.
If you are given an opportunity to pay tax through cryptocurrency , will you accept it gladly or will you stick to paying with Fiat currency?

 

[Alexandoy]

First things first, why would you pay taxes with crypto when there is the option to pay taxes in the usual way. Crypto coin is not legal and if ever it is allowed to be accepted as tax payments then I don't think crypto coin users will pay with crypto coin. Who knows if there will be a ban on crypto coin and you already have a record with the IRS so that would be detrimental to you.

 

[Mika]

I do not like this idea of withdrawing crypto currency as fiat money or using crypto currency to send a payment for purchase or even paying taxes. I like to treat crypto currency as an asset that needs to be held for a long time for bigger profits. We should stop spending my cryptos.

 

[Mataracy]

I believe that paying tax on crytocurrency is a way to discourage bitcoin. And if crytocurrency is to became well recognise and good tax deduction or charges should be discourage because it will really affect the cryto . Already many country do not want crytocurrency yo come up talk less of becoming a worldwide currency.

 

[Kingstone]

I don't think this cryptocurrency will go that far in its usage. The government is against it and it will oppose what they stand for. It is already banned in my country and I don't see any glimpse of hope in its resurgence. How many people pay taxes for making money online?

 

[Good-Guy]

I am not sure if this kind of payment method will be accepted in the future or not in my country because I live in a Tier 3 country. There is no concept of using cryptocurrencies to pay people or recieve payments and there are no Bitcoin ATMs in my country either. However, I am sure that Bitcoin and other crypto might be used in the developed country in the future.

 

[Yugocean]

No country is foolish enough to charge taxes in the form of crypto. Oil is taxed here, can anyone pay tax in form of oil? Cement is taxed here, can anyone pay tax in form of cement? If a country charge taxes in form of computer code, then its currency will have no value.