Do you think everyone pay tax on Crypto trading?

[TurnedToRobot]

I was wondering what you think or may even do.

Are people paying taxes from the coins people hold and trade or do you think that the majority forget to inform their tax office about it?

What do you considere the risk factors to not report your coins?

 

[JohnSeed]

I am convinced that most people 'forget' to inform their tax office about the taxes from crypto trading

 

[greenbeans]

When converting crypto to fiat I would recommend doing so in small increments to avoid being spotted

 

[TurnedToRobot]

I agree, this seems to be the only place as for now where it is possible to avoid taxes in large scale, sadly

 

[Hans Hoffmann]

I have traded crypto year ago, and personally I payed the income tax which occured. Its easy way to legalize small ~10k amount. Since tax office wont ask you to provide statements from broker and wont see them since trading is not done in bank account. Atleast this applies to easter europe.

 

[JohnLocke]

This is actually some good advice. You get paid in Crypto from some source and take out the money in small portions and tax it. So you can wash it.

 

[BillBong]

US residents and citizens are supposed to pay tax on crypto.
UK citizens only pay tax once converted to currency e.g. pounds.

The world is changing it's outlook on crypto sadly. US is very uptight because of corruption and banking overlord pressure.