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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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23930988 No.23930988 [Reply] [Original]

I want to pay my fucking taxes, but what if they just freeze my shit instantly when they see a 600K transaction to my bank account from Coonbase or Coinfloor?

Like, fully intending on paying it the same week with the paper trails but locked straight up.
What is the actual procedure? Are you forced to let them know ahead of time, and contact an accountant? What if you want to declare it yourself as its pretty brain dead anyway

>> No.23931095

>>23930988
See a lawyer before checking out

>> No.23931101

Just phone your bank before cashing out?

>> No.23931104

>>23930988
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHA

YOU DIDN'T LEAVE THAT SHITHOLE YET.
AHAHAHAHAHAHAHAHAHAHAHA

Do yourself a favour go to Portugal buy a cheap fucking house even if it's just a shell hut in the middle of nowhere for around 1-1-7k and open a Portuguese bank account. Cashout into your Portuguese bank account tax free.

>> No.23931109
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23931109

>>23930988
kek why the fuck have you neglected to inform them that you are involved in cryptocurrency to begin with? ... I'm a burger but back in early 2017 I saw the writing on the wall and went back and amended all my returns and paid the back taxes to 2013 to establish the required paper trail so when I do make it they aren't knocking on my door saying "WHERE THE HELL DID YOU GET MILLIONS OF DOLLARS ANON?!?"

>> No.23931151

>>23931104

I am in Japan.
But Im English. I can either pay tax to UK or Japan. Obviously UK is more straightforward.

going to a crypto tax haven sounds nice but its not so simple. Would have to live there quite some time to be a tax resident as far as I understand. Its not just move there and dump it right?

>> No.23931165

>>23930988
Relax, you won't be paying this year's taxes until like October 2021. You do have to find a crypto friendly bank to cash out in, and declare this to HMRC though.

>> No.23931181

>>23931151
Don't give your tax money to the British Government it will only get wasted on paying the wages of some cunt police officer on a power trip. At least if you pay tax in Japan it could get spent making a wacky Japanse game show

>> No.23931203

>>23930988
>what if they just freeze my shit instantly when they see a 600K transaction to my bank account from Coonbase or Coinfloor?
literally all you have to do is call up your local bank branch and give them a heads up about the large sum about to be deposited, are you retarded?

>> No.23931215

>>23931181

well crypto Tax here in Japan is about 15-20% I think. But im not that sure.

I have considered it. But obviously dealing with your native country is more straight forward if possible.
If its a question of assrape taxes or assumed criminal off the bat though its a no brainier.

>> No.23931422
File: 364 KB, 1152x678, crypto-com-cards.png [View same] [iqdb] [saucenao] [google]
23931422

Maybe cash out your crypto into one of these? Im pretty sure a 600k transaction wont scare them.

>> No.23931456

>>23930988
this is probably for buying large quantities of drugs on the dark web

>> No.23932164

>>23931151
nomadcapitalist.com

>> No.23932199

>>23930988
Wait where is this, the UK? They're cracking down on crypto here?

>> No.23932275

Dont cash out all at once
Try selling bitcoin for cash p2p
Get crypto credit cards and use crypto for all your expenses whilst sending all of your fiat wagie income if you have a job to your bank account

>> No.23932301

Thats why I prefer the slow approach.
Only cash out enough to not have to pay taxes. There is always a monthly or yearly limit for it.
The right way should be for you to use your bitcoins and buy what you want with them, but merchants are cucks.