Now that document got me really angry - the amount of paperwork required just shows how they miss the whole idea - cryptos are fast, clean and elegant- and forcing those foolish regulations will remove the basis of the whole thing!
I didn't think about the point of being taxed for crypto in crypto and I must say it's brilliant! It will actually be a huge step of acceptance as it will make the governments stakeholders in the crypto world by themselves and they will be forced to care and advance the crypto world - they will be a part of it.
After earing this idea it's pretty much the most logical thing to demand! If you regard it as an asset that has to be managed like fiat regulatory - then take you pays in the currency itself!
The most frustating point right noe is that life are difficult just because goverments do not know how to deal with crypto - they do not publish orders to the banks and so people with large amounts can't use them for local purposes ( at least in Israel in the last few years and the situation is still the same)
With time I'm sure we will win! The revolution comes from the people and it will become a flood!
(I can feel the anger! Analogue to dog's poo! Thats how rage is supposed to be!)
While I firmly believe tax should be paid on crypto converted to fiat or exchanged for goods and services, I honestly have no idea how any govt agency can prove your transactions, let alone accurately track them.
I will be making my best effort to pay tax on all conversion to fiat and spent crypto. Other than that, I guess I'll just wait for the audit.
I am agree with you on this tax paying topic.The reception of tax by government will definately increase the trust on crypto currency.so it's future will become automatically bright..
it is sad theu do not fully grasp the idea