/biz/ - Business & Finance

[Anonymous No.11465151]

>tfw live in a country where every single cryptotrade has to be taxed
just end my life pham

[Anonymous No.11465167]

>>11465151
Can you deduct losses?

Serious question.

[Anonymous No.11465175]

>>11465167
Is there even any tax system where you can't?

[Anonymous No.11465208]

I'm just not gonna pay (inb4 muh your dead). I've only messed around with a few thousand worth and have mostly lost money. I'm not gonna pay out a cent, I'll just wait a few years and If I get a letter from the IRS saying I owe them money then whatever maybe I'll pay it.

[Anonymous No.11465214]

>>11465151
Come on goy be a good sport. Where else are we going to get the money for Tyrone's welfare chek?

[Anonymous No.11465245]

>>11465208
>>11465214
Worst part is that I also need to pay wealth tax for it by documenting how much it was worth on December 31st. I don’t even remember that but it was near ATH. Doesn’t matter what it’s worth now

These fucking tax bureaucrats are making this shit so fucking unnecessarily complicated

[Anonymous No.11465264]

>>11465245
NL?

[Anonymous No.11465271]

>>11465245
Where do you live?

[Anonymous No.11465279]

>>11465245
Honestly I'm just gonna wait until I get a knock on my door, until then the Feds can fuck off. The system is so tangled and inefficient it takes them years to get to people, if they even do it at all.

[Anonymous No.11465290]

>>11465264
>>11465271
NorGAY
Call this country a paradise but the tax laws and legislature are fucking jokes

How the fuck am I supposed to cash out when I have to spend days figuring out how much tax I need to pay?
Why the fuck can’t I just get taxed on what I withdraw like what any average IQ country would let me do?

[Anonymous No.11465313]

I thought you didn't have to report every trade if you trade between coins. You only report trades where you move from crypto to cash or cash to crypto. Coinbase/GDAX sent me a tax from that showed to the sum of my cash-involved trades and I made my reported trades to reconcile to that number. Not that hard.

[Anonymous No.11465318]

>tfw based portuguese
>An earlier tax ruling in Portugal had clearly defined income tax exemptions for the sale or purchase of tokens. As per that ruling, since there is no revenue category covering digital currency gains, there is no requirement to include them when filing individual tax income returns.

[Anonymous No.11465329]

>>11465318
I love Port.

[Anonymous No.11465334]

>>11465313
lol not at all here in this shithole of a tax system
Every trade has to be logged, even losses has to be taxed
I get so fucking pissed reading of forums of people who talks about it yet seems completely fine with it. Bunch of fucking numales

[Anonymous No.11465336]

>>11465318
>tfw after rent, bacalhau and basic expenses you can't afford to put more than 50€ in crypto p/ month

[Anonymous No.11465353]

>>11465334
What country do you live in?

[Anonymous No.11465393]

>>11465353
Said above: Norway
It feels pointless in trading crypto now if the only way to make it is swing trading
If only I could legally cash it all out to my foreign gf’s account who lives in a country where the tax laws are actually sane.
The problem here though is that I will never be able to buy real estate here with her account which is what my goal is with crypto gains

[Anonymous No.11465398]

>>11465175
Yes. Sweden and Finland at least apparently. Finland used to have guidelines that excluded crypto-crypto trades from being taxable but now (since this summer) they tax profits and refuse to acknowledge losses. Note that no laws have changed, it's all interpretations by Verovirasto (IRS equivalent).

Also they didn't even publish these new guidelines until one month AFTER they are supposed to be effective "because they had to be translated to swedish too" (we're bilingual country by law, that's why) and anyone who used bot trading during that time is now potentially royally fucked through no fault of their own. Thank god I'm not one of those poor souls.

Worst of all, if old signs are anywhere close to being good at predicting this shit, this shit actually has a good chance of standing in courts.

So, don't expect much sympathy from here.

[Anonymous No.11465419]

Its only 12% where i live, so i pay my taxes like a good goy, im too afraid and beta to even try to dodge the tax.

[Anonymous No.11465575]

That law is clearly inane so you can just ignore it. They won't be able to find out anyway. Just pay taxes on capital gains you actually withdrawal to fiat, and they won't complain.

[Anonymous No.11465609]

>>11465151
just dont pay them man. The usa is the only one that has draconian tax laws and even here you can generally not pay if you do it right.

[Anonymous No.11465673]

>>11465609
>>11465575
top kek good luck being a tax evader in Norgay
>fat ugly tax bureaucrat looking at the income tax return: “oh boi, this incel went from 0 networth to 500k, well that must be all from saving up his income! :)”

[Anonymous No.11465699]

>>11465673
>top kek good luck being a tax evader in Norgay
Actually I live in Norway too and I did what I said. I earned 980k nok last year, and that's all I reported, nothing about individual crypto trades. They accepted that no problems.

[Anonymous No.11465715]

>>11465393
>CASH OUT TO GF ACCOUNT
gtfo /biz/ normie

[Anonymous No.11465741]

>>11465699
HOLY SHIT DUDE KÖDDER DU I CAN LITERALLY JUST SAY "hey I invested 10.000kr and now I was lucky and made a profit of 200.000kr(actual portfolio is probably woorth 500.000kr) which I wanna withdraw. I just pay 24% tax on this realized profit? Yes? Thanks!"

[Anonymous No.11465765]

>>11465715
shut the fuck up

[Anonymous No.11465774]

>>11465741
Anon, lova er berre at du må ha dokumentasjon på det vist dei spǿr etter den.

[Anonymous No.11465785]

>>11465741
Yep. Just put the total in field 3.1.12 "Annen inntekt".

They are well aware of the crypto bubble and the hordes of newly rich people it created so it doesn't really seem that unnatural. Yes, you're technically required to trigger capital gains on every trade including crypto-crypto, not just fiat withdrawals, but like I said they don't really give a shit.

If you're current portfolio is big enough to trigger property taxes you should probably report that too, otherwise it wouldn't make a difference anyway so meh

[Anonymous No.11465801]

>>11465774
Dette gjör dagen min mye bedre
Men hva om de spör da. Og så er det jo vel et krav at man skal dokumentere “Annen skattbar formue” som skal da være fiatverdien portfolioen har den 31. desember? Eller er det bare å gi f i?
Også betalte du vel 24% ikke sant? Gjöres det automatisk når man tar ut eller må man semde eksakt belöp til en konto?

[Anonymous No.11465803]

>>11465785
>Property taxes
Formue skatt.

[Anonymous No.11465814]

>>11465803
We use english on this site

[Anonymous No.11465818]

>>11465814
Fortune tax, neger.

[Anonymous No.11465828]

>>11465818
lmao no

[Anonymous No.11465832]

>>11465801
Ah wasn’t same person
>>11465785
My current portfolio is worth 35.000kr.
Isn’t “wealth” tax over 1 mil?
Also I hope they don’t give a shit about the 4.000kr i spent last year that was worth as much as 40.000kr at one point but is now worth 1.000kr?

[Anonymous No.11465864]

>>11465801
>Også betalte du vel 24% ikke sant? Gjöres det automatisk når man tar ut eller må man semde eksakt belöp til en konto?

You get it as "restskatt" next year. I actually just paid the last tax for the 2017 gains a couple of month ago. Works out great because then I get the interest from when it was just sitting in a bank account since then for free too.

[Anonymous No.11465887]

>Isn’t “wealth” tax over 1 mil?
Ja så du har ingenting å uroe deg for.

[Anonymous No.11465910]

>>11465864
Noice so I can just lax and let the bureaucrats do the work and have me pay it next year instead of paying it instantly
Tell me, you don’t happen to work in a high pay job do you, as if being a minimum wagecuck suddenly depositing the equivalent of an annual salary to my bank account would trigger any alarm at the Tax Authority?

[Anonymous No.11465919]

>>11465864
Can't you also just abuse "Frivillig retting" if you didn't mention crypto to crypto as well.

[Anonymous No.11466332]

>>11465673
Start a shell company (a company that exists on paper only, just fill out some paperwork its easy) and declare the crypto as income. You will have to jump through a few hoops to make it convincing but its still better than giving half your money away.

Or you could just wait till bitcoin is accepted everywhere, and stay in tusd. Or you can invest in 0x based securities so you can invest without cashing out.

[Anonymous No.11466343]

>>11465673
>>11465699
Oh I just now realized non-americans are on easy mode. Just open a bank account in singapore, cash out there, and dont tell the authorities in norway. FATCA doesnt apply to you.

[Anonymous No.11466386]

I'll sell your verified Binance and bitfinex for 10k. Send email with contact info to [e-mail]

[Anonymous No.11466498]

>>11465398
This
Fuck Finland, most cucked tax laws ever.

[Anonymous No.11466520]

>>11465334
Pisses me off too... Wish everyone would just stick together and refuse to pay. If you dont have ties consider moving away

[Anonymous No.11466533]

>>11465290
It was like that in Poland but they changed it because people were upset. Maybe there should be some protests in your country?

[Anonymous No.11466546]

>>11466343
>what is CRS/AEOI

[Anonymous No.11466690]

Du skal være takknemlig for å kunne bidra til å opprettholde det multikulturelle sosialdemokratiet. Dessuten har vi aldri hatt det bedre i norge i folge transparency international blablabla fn blabla verdens beste land blabla

t.sojagutt som fortsatt er under utdanning og er aktiv på r norge

[Anonymous No.11466723]

>>11466690
PUL DEGSELV NEGERFAEN NUGUTT