/biz/ - Business & Finance

Since when does the EU levy crypto taxes?

>>24823293
>15%
Not in all EU, it's 30% in France.
Good for you, and fuck me I guess

>>24823293
Malta is at 0% right? and so is Germany if you hold 1 year

not in my country you fucking nigger
speak for yourself

>>24823293
Portugal is 0%

>>24823316
>>24823335
>>24823348
>>24823409
wasting time....what happens if you go to switzerland or turkey, open a bank account and start depositing 500$ per month and cashing them out from an ATM?

would the turk/swiss bank care where the money come from?

>>24823293
you pay tax where your residence is. You can't dodge the tax jew without physically moving to another country anon, at least legally

33% capital gains tax in Ireland

>>24823454
but why would the turk or swiss bank inform another country that you received 500$ from some crypto website and withdrew them from an ATM in turkey?

>>24823293
Move to germany
HODL for a year

>>24823454
even if you have double citizenship?
Asking for a friend...

also, if you make it big 1 year in Malta is actually a great way to start your reallife(tm)

https://www.fslegal.pt/en/cryptocurrency-taxation-in-portugal/
>In conclusion, cryptocurrencies in Portugal are only taxable if you do it as a professional trading activity and therefore you need to open an activity as a trader and pay taxes according to your profit, otherwise they are considered non-taxable in Portugal due being unable to fit in any category.

>>24823525
your country probably doesn't care about small amounts like $500, check Revolut or other mobile banks for that.
For bigger amounts, like something you could buy a house with you should get a good accountant to help you figure it out
>>24823547
depends on your country https://en.wikipedia.org/wiki/Tax_residence

>withdrawing
ngmi

>>24823293
its 30% in Sweden...

SENT is about to moon. OP is a faggot, Fuck his stupid punt.

I'm from Spain and I've been cashing 200€ every month and they don't seem to give a fuck about it even tho they are trying to enforce new crypto laws or whatever.

>>24823791
cashing out 200eu in your bank account? the same one you used to deposit before?

wont they start caring after 6 months?

>>24823820
I suppose, but they don't seem to care.

In Norway we have to pay 24% tax on any profits when changing to fiat.

>>24823858
but when they start to care they will come after you for ALL your withdrawals and want to fine and jail you.
you need to think.....in the future

>>24823916
Can't you just open a bank account in Portugal/Malta/Belarus and transfer the money there? And then transfer back to Norway?

>>24823958
thats what im asking.
would a portugese bank care that you keep receiving 500$ a month and cashing them out in your country from an atm

>>24823939
then I'll just tell them I'm a neet that lives with his parents, my income doesnt even need me to fill the tax report so I can evade that, and even if they find me I'll pay like the 30 euros per month I have to pay.

It works like this; Let’s say you live in Germany and you have a bank account in Portugal. Every now and then, Germany’s tax authority will simply send a request to banks in Portugal (or any other country) to deliver information on every client with an adres in Germany. They won’t give a fuck about €200-€800 a month, but they will flag you. If you want to cash out bigger amounts later on you’re fucked and they will tax rape you.

>>24823958
What would that accomplish? I still have to pay tax on money I have or earn in other countries. Just risk having to pay tax twice.

>>24824453
yea but because portugal is in the EU so there is "cooperacione".
if the bank was in turkey, would the homecountry bank (lets say germany) be able to get the information "where the money came into his account"
would they know money from binance came to your turkish account on your name?

Even if its 500$ a month, wont they start harrasing you?

>>24823443

Will travel to Portugal to take out my cryptos

And to enjoy some local food

>>24824812
https://www.blevinsfranks.com/news/article/non-habitual-resident-regime-NHR-Portugal-tax-advantages

https://www.globalcitizensolutions.com/nhr-portugal-tax-regime/

See if this somehow applies to your country.

>2020
>pay tax on crypto

when will Eu plebs stop being cucked?

>>24824951
I still have to pay tax to Norway even when I go through another country. I just have the extra fees. But I don't pay tax if I use cryptocurrency directly to buy services.

>>24825014
how would norway FIND OUT that you went to turkey, opened a bank account with some turk bank and received crypto profits that you withdrew IN turkey?

Hold for 1 year

Buy gold with BTC, sell gold without any tax

Buy gift cards

Sell at certain money exchanges where you can sell BTC to straight up cash up to 2k euros per day without any ID, 4% fees

>>24825154
wont your country still ask questions if you receive 500$ per month from "skrill"
they will still make you pay tax after 6 month.

>>24825194
I have no idea what "skrill" is

>>24825134
don't do this, turk money is sinking hard in value, better to just pay tax.

>>24825242
well what would be the exchange rate for getting usd/eur out on the moment.

>>24823293
15%? I pay 0% in germany. Because apparently you are low IQ, don't try to avoid taxes. How do they know? OECD CRS.

>>24825134
The tax office finds out who owns the account. Can't have a bank account on the name 420t0wneReaper69 or something. I need a passport and they will check the validity.

So the tax office will know and if I don't tell them then I will be in jail longer than Anders Breivik.

>>24823443
Isn't the process to get in a fucking nightmare ?

If they want to take my money I'll unironically bomb the IRS building

>>24826133
based

>>24826133
They want to take your money though,it is literally what the IRS is for. They have always wanted to take your money.

>>24826221
I mean if they want 65% of it which they do because I'm french and retarded

Don't open a foreign bank account to cash out there. They WILL find out, especially for large amounts. It's only a matter of time.

The only options are...

A) pay your taxes like the good, law-abiding civilian you are & hope they don't fine you

B) move to a crypto-friendly country, be a resident there for a year while hodling crypto, then cash out

C) hodl forever, always pay things in crypto.. maybe trade some to BTC & USDC at peak bubble to protect your assets

>>24823916
Not just fiat, crypto to crypto as well

>>24826280
Why would you travel to America to bomb the IRS? Why not 'Direction générale des Finances publiques' or something? Why the IRS?

Also you're French, aren't you supposed to set fire to cars if you disagree with the government?

>>24826348
No. Crypto to crypto is not taxable in Norway and requires no documentation. Only need to document fiat to crypto and crypto to fiat

>>24826280
i meant the french IRS

>>24826445
https://www.skatteetaten.no/person/skatt/hjelp-til-riktig-skatt/aksjer-og-verdipapirer/om/virtuell-valuta/salg/

>>24826053
lets say that EU "dave" travels to Turkey and gets a turkish bank account with a debit card.
Dave returns home in EU and proceeds to withdraw 500$ a month from binance and withdraw it from an EU ATM from his turkish bank account.

will dave be fucked by the IRS in time or no one cares?

Would the turkish bank tell the eu that dave received 500$ a month from "binance"?

>cashing out
Put all in bitcoin you mongoloid

>>24826292
This
The taxation jew is literally inescapable. The only viable option is to move to one of the crypto-friendly countries and get a citizenship there, and revoke your original one. For most people however moving to a foreign country with a different spoken language is not really an option. I think I'll just get one of those cards that let you pay for goods in ETH without additional charges and just use that. Fuck this gay world

>>24823293
>How do you avoid it anons?
I have no idea where and how to pay taxes on crypto, i never did, i'm in france and these kikes fucking love taxes so if they could tax me i assume they'd have done it already, i have a german bank account, the bank asked me for my adress and security number or some shit for "legal reasons" they said, i didn't care and they didn't either since a year later they didn't close my account, actually i work remotely and i don't pay taxes on my salary either, i just assume since it's not a french company i work for i shouldn't have to pay anything, i'm probably wrong but i like lying to myself

>>24826920

youre kinda fucked if anyone does any investigation. If you cash out do it via Steam gift cards or some shit or buy flights or hotels, withdrawing to a Kike bank is always risky, they will rat on you if need arises

>>24826133
>>24826280
>la Direction générale des Impôts takes money from anon
>anon moves to america and bombs the IRS

Based

>>24823293
Nomadcapitalist.com.

>>24826920
You are wrong, and you are treading a very fine line because it is easy to trace this money to you. I wouldn't recommend giving them more breadcrumbs like this post

>>24826983
i've been cashing out all the cash i need to live for a year now, well i'm not atached to this country anyway so if they come and ask me to pay one year of taxes or a fine i'll just leave the european union i guess

>>24826920
dude you are gonna get assfucked, all you morons need to consider that the tax man can fuck you retroactively, its up to 10 years in my country, might be even more in yours. the government moves slow but they will always take their cut. take it from a retard who had to figure this out the hard way, you always wanna have your shit above board and pay your taxes.

HOLD On
what happens if i buy 1 gold coin each month from bitglid or whatever, and then go and sell 1 gold coin each month in my country?

Would they go after me asking where i got the coins?

Even if the task jew asks "binance" to cooperate, the wont show much since you withdrew most in your personal ledger, and then "you lost in all on krypto kitties".

The hard part comes if they will sniff that you sell 1 gold coin every month in your country, which you can say you buy from another country with your salary that you convert to crypto.

>>24823293
just don't trade in fiat bro. and don't have it on your name

>>24823293
Local monero bro. Cash in mail. Use small amounts so you don’t get burned.
You lose like 25-50%on value but the money isn’t traceable and you have cash only. As long as you are under 10k usd or euro in transactions (almost every country flags over that amount). You should be dandy. This is Minecraft advice.

>>24827504
>You lose like 25-50%
isn't that taxes tho

>>24826765
Yes.
Dave will receive a letter from his Turkish bank asking him to confirm where he is tax resident - Turkey or his home country.
If he falsely answers Turkey, the Turkish tax authorities will look into him, find that he has no economic activity in Turkey, and flag it to the tax authorities in his own country, who will come down hard on his ass.
I know this because I've had one of these letters. I wasn't doing anything dodgy, but I was earning money in a country while my residency application was still pending and this made my bank suspicious.

>>24827504
but if my country wants 10-15% tax
why would i bother with 25-50% loss to risk jail?

>>24823293
Netherlands has 0% capital gains tax under around 30k, crypto tax isn't EU-wide, thank God.

>>24827550
how much money was incoming into your turkish bank account?

if its like 500$ a month isnt that "oh i send dad money so he can pay rent"

>>24827546
kek

>>24827558
To stop your local mafia from stealing from you. Don't you hate the government?

>>24827626
yes....thats why im asking in the first place.
giving money to those greedy morons to be given to niggers is unjust.

but losing 25% of value is brutal dude.

>>24827648
you're right, it's a sour deal either way

>>24827589
It wasn't a Turkish bank account. Every country does this.
It was my whole salary. It was the only money I was earning. But it's not the amount that flagged it, it's the regularity: if you regularly receive money coming into the account, that means you have some kind of economic activity going on in that country and that gets the tax dogs sniffing.
Even if you try and change it up and deposit different amounts at different times, it's going to look super suspicious that you have a bank account for a country you don't live in and there's money coming in and out of it all the time. Your home country's tax authorities WILL be alerted.

%0 in turkey hahaha.

if you are rich just buy a condo in istanbul for 250k usd and get a citizenship. you can sell the condo after 3 years you buy it. then enjoy tax free life. plus you get free health care with the citizenship. euros don't care about free health care but for burgers it's huge thing.

>>24827765
so the only option is to buy gold 5-10grams with crypto delievered to you, then you sell each month around 500$?
Would the tax dogs bother you where you get the coins from to sell each month?

Can you say oh some rich gay guy is gifting them to me because we ahve gay sex each month?

>>24827945
Many western countries tax you on worldwide income. You would have to renounce your citizenship. Then pay an exit tax. All to go live in a 3rd world shithole because you didn't have enough brains to go talk to an accountant and tax lawyer.

>>24827992
I don't know about gold. I think some buyers/sellers require ID, but if you can find some that don't I guess you could get away with that. I still don't think it's a good idea to have frequent payments into a bank account, though. Still looks like employment so is likely to make them suspicious if you're not submitting a tax return that declares it.
If you receive money each month in return for sex then you're a prostitute and that is income. Gifts generally have some tax free allowance but I expect it's limited especially if the gift is regular.

>>24828063
an accountant and a tax lawyer would do nothing.
you would still need to pay the full tax, maybe swing less somehow, but their commission will still fuck you.
Face it, if you want to withdraw 10,000$ an accountant/lawyer will not get out of paying 3000 taxes

>>24828063
>>24828063
>Many western countries tax you on worldwide income
there are agreements between turkey and eu-us for dual citizens. you only pay taxes in turkey or in us-eu. so you choose pay taxes in turkey as a dual citizen and don't pay anything.

>>24828091
>>24828134
what are the chances that the crypto-gold seller snitches to your tax dogs that you buy gold coins with crypto?

lmao you fucking cucks how does it feel to get your hard earned gains taken away? ZERO CAPITALS GAINS TAX BABYYYY

>>24826292
>B) move to a crypto-friendly country, be a resident there for a year while hodling crypto, then cash out

This won’t work in the US unless you forego US citizenship

>>24826763
how the fuck would the government know if you traded crypto for crypto

>>24828766
Realistically they wouldn't unless you report it and it's only a problem if you sell your gains for fiat and they want to know where it came from.
Was told by a tax advisor to just report fiat in fiat out and provide transaction logs if they request them so who knows.