Mon Jul 24, 2017 3:51 pm
In context of sales and purchases made globally, technically known as imports and exports, every individual pays an additional sum of money to the government as tax. Tax regulations differ from country to country, so how these items are taxed also differs. This also happens due to variations in currency and economic conditions.
However, when we talk about bitcoin or the global currency, we conclude that it is not governed by any such demarcations. Bitcoin is not in itself taxable like other currencies.
Thus, individuals can sell or purchase goods, especially luxury goods, in bitcoin which are otherwise heavily taxed by the government.