Meanwhile in the UK...
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… some good news [url=http://www.coindesk.com/hrmc-decides-rethink-tax-stance-bitcoin/]http://www.coindesk.com/hrmc-decides-rethink-tax-stance-bitcoin/[/url]
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Thats lovelly. The positive/negative media news ratio (is this understandable? :-X) is being more positive.
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“In the meeting, Warne added that he had been considering moving his company offshore because of HMRC’s classification of bitcoin” ,Quote from coindesk.com. This should keep the sharks at bay for a while, but seriously as crypto grows in this country, I suppose we will have to resign to the idea of things changing in the future. The future I am talking about is where there is not fiat money at all, so it will have to be taxed somehow, otherwise how will we pay for hospitals and roads? At the moment the banks are to big to fail, and have us all by the goolies, but if they are out of the equation in the future, I will sleep more soundly at night. We have a long way to go considering that the UK government gets 40%of its revenue from the banking industry. They are always going to be there, but they will be smaller and they will have to adapt as well, hopefully by then we will have them by the goolies, and they can dance to our; the community’s tune.
The future is so bright we will have to wear shades.
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Shameless Bump.
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I don’t believe in VAT at all actually it’s scandalous and certainly not on bitcoin! I think it would be more sensible to charge capital gains tax or something when the bitcoin is transferred back into fiat and gains have been made.
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[quote name=“robUK” post=“40986” timestamp=“1386400452”]
I don’t believe in VAT at all actually it’s scandalous and certainly not on bitcoin! I think it would be more sensible to charge capital gains tax or something when the bitcoin is transferred back into fiat and gains have been made.
[/quote]VAT is great, as long as it’s not extortionate and goes towards doing good like building schools, roads and hospitals etc; but not when they fund the war machine and bail out the banksters with it.
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[quote name=“hilariousandco” post=“41085” timestamp=“1386415925”]
[quote author=robUK link=topic=5531.msg40986#msg40986 date=1386400452]
I don’t believe in VAT at all actually it’s scandalous and certainly not on bitcoin! I think it would be more sensible to charge capital gains tax or something when the bitcoin is transferred back into fiat and gains have been made.
[/quote]VAT is great, as long as it’s not extortionate and goes towards doing good like building schools, roads and hospitals etc;
[/quote]But it doesn’t. Plus VAT is abused, it’s supposed to be essentially a ‘luxury tax’ yet the list of items considered luxuries is beyond a joke. Example: tampons have VAT added. When a society taxes it’s women for using tampons I’m afraid there’s something seriously wrong there, I guess the government argument is they can always use an old oil rag or something or maybe just let the fountain flow hmmm
