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4630588 No.4630588 [Reply] [Original]

What countries have no tax on crypto gains?

>> No.4630608

>>4630588
>cashing out

>> No.4630611

>>4630588
slovenia

>> No.4630617

Denmark I think

>> No.4630654

>>4630588
I'll start

Singapore

"Businesses that buy virtual currencies for long-term investment purposes may enjoy a capital gain from the disposal of these virtual currencies. However, as there are no capital gains taxes in Singapore, such gains are not subject to tax."

https://www.iras.gov.sg/irashome/Businesses/Companies/Working-out-Corporate-Income-Taxes/Specific-topics/Income-Tax-Treatment-of-Virtual-Currencies/

>> No.4630672

>>4630588
Switzerland, netherlands, belgium.

They can tax your profits as income if they say you traded too much. I'm shitting myself about this one. Trying to hodl.

>> No.4630683
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4630683

>>4630588

>> No.4630688

>>4630611
>slovenia
Are you from there? I heard someone say that if you can't prove source of funds they might tax you 70%

>>4630617
>Denmark I think
So I've heard too

>> No.4630700

UK if you hold at least 1 year

>> No.4630722

>>4630654
>Singapore
but you have to pay 200k a year for a shitty apartment so there's that.

>> No.4630744

>>4630722
Yeah, and not possible to really move there unless you get a job there

>> No.4630766

>>4630700
Incorrect

OP, Ukraine

>> No.4630787

>>4630617
>>4630688
Not sure about Denmark

>> No.4630795

>>4630588
Any country with no capital gains tax:
http://nomadcapitalist.com/2014/04/06/top-5-expat-friendly-countries-with-no-capital-gains-taxes/

The problem is, if you're American you still have to pay the US, afaik. I'm a Eurocuck and if I move abroad my country will deem me "ordinarily resident" for another 3 or 4 years so I will still have to pay them taxes, unless I wait until after that time to sell. I guess if I never plan on going back then it wouldn't matter, but I will probably visit at least.

>> No.4630840

Andorra
Jersey
Isle of man
Scottland
Denmark
Bulgaria
Malta
Portugal

>> No.4630846
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4630846

Does Trump's tax bill have any capital gains changes?

>> No.4630847

>>4630588
ITT: Faggots who don't unddrstand Bitcoin will be the separation of money and the state.

>> No.4630859
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4630859

>>4630611
Fuck yeah, and they have hot women, plus it's beautiful as fuck there.

>> No.4630868

Italy is grey area, they posted something on a gov site then removed the html page.
Nothing mentioned as official statement yet.

>> No.4630884

In the Netherlands you pay over fictional gains. Your gains will be 4% and you get taxed around 30% over that. Which is usually around 1,2% effective taxes.

>> No.4630906

>>4630617
>>4630688
>>4630787
>>4630840
dane fag here

yes crypto gains are 100% completely tax free, the banks dont even question you if you get random big deposits from exchanges

and its not because they haven't bothered to look into it, the tax man declared it a private asset, so tax free and on par with selling an old painting that increased in value

https://www.coindesk.com/denmark-declares-bitcoin-trades-tax-free/

https://news.bitcoin.com/bitcoin-denmark-facts-figures-2017/

>> No.4630908

>>4630884
Per year.

>> No.4630914

>>4630700
incorrect, but germany if you hold for atleast one year.

switzerland can screw you over if they wish to

>> No.4630931

>>4630672
Same anon. It’s stressing me out. I definitely traded too much. Have way more bitcoins than I ever purchased

>> No.4630957

>>4630906
I read a few articles translated from Danish and they pretty much all said that it is taxable if you bought it with intention to sell and make a profit, but not if you bought with intention to make a payment or just because of general interest

>> No.4630958

>>4630906
however, you are not eligible for any kind of tax reduction if you lose everything, so its a double edged sword

>> No.4630973

>>4630846
I got an email from Scottrade about one of the possible changes where sale of securities will have to use FIFO accounting. That could have serious tax implications for stock trading. Not sure if it would apply to BTC because they aren't securities.

>> No.4630989

>>4630931
Just cash out the number of bitcoins you bought? Keep the rest or sell some for cash on localbitcoins.

>> No.4630992

>>4630840
>Malta
Any source on this?

>> No.4631010

>>4630957
that is incorrect

purchase of bitcoin to get goods or to simple trade is tax free

purchasing bitcoin is on par with buying an old painting, and selling it for goods, or keeping it for a few years and selling it for more.
>>4630958 is the drawback though

>> No.4631037

>>4630957
you have to pay taxes, if you get paid in bitcoin, or run a business that deals with crypto, like an exchange or something though

>> No.4631060

>>4630846

No it doesn't. Short-term and long-term capital gains rates are unchanged by the plan.

>> No.4631086

>>4631010
Okay maybe my translation fucked up the text or it was just wrong. These are the articles I was referencing

https://www.bdo.dk/da-dk/faglig-info/depechen/depechen-artikler-2017/skat-ved-investering-i-bitcoins

http://www.vistisenlunde.dk/nyheder/bitcoins---skal-man-betale-skat-af-gevinsten?Action=1&M=NewsV2&PID=8656

>> No.4631093

>>4630931
Dude you mined the rest of them back in 2009 remember?

>> No.4631124

>>4630989
Fuck I am slowly realizing the source of the can’t cash out meme

>> No.4631134

>>4631060
Not good. At least all my gains will be long-term.

>> No.4631163

>>4630973
It's almost like the US federal gov. doesn't want you to prosper.

>> No.4631206

>>4631124
Yeah maybe if you cash out 1000 it is no problem but try cashing out larger sums and it is fucking stressful and difficult

>> No.4631212

Americucks have to pay taxes no matter where you move to. Gotta pay for the gibs.

Best bet if you are really rich is to move to a no capital tax country get citizenship and denounce your American citizenship. Duel citizenship you still have to pay the gibs

>> No.4631226

>>4630868
I think I've read something like no tax under 50k or something, as far as speculation/interpretations of the law go.

>> No.4631311

>>4630931
germany is safe but there needs to be atleast one year between the buying and selling date - this includes all of your trading profits

>> No.4631317

>>4630958
Who cares you only get 3k tax reduction TOPS per year in america

>> No.4631356

>>4631212
In america you can cash out less than 37.5k plus your 6k standard deductable and if you held for a year you pay 0% federal gains tax.

Also there are 6 states with no income tax or cap gains tax, I'm thinking about moving to one

>> No.4631386

Best bet for Americans is to create an LLC as a consultant or trading company. Pay your self as a contractor 1099.

FEIE allows up to 100k a year for paid work Not capital gains.

So just live off 100k a year whereever you like.

>> No.4631407

>>4630840
>Scotland

That's not true at all, is it? UK has 20% capital gains tax

>> No.4631456

>>4630688
i don't think so, well you basically have to show it came from crypto maybe

but anyway, all crypto stuff has been declared as a currency type of thing so no tax involved, even if it came from mining

>> No.4631584
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4631584

Can't cash out even if I have a bank account in Denmark since they will just notify my local government since it counts as income and I will have to pay VAT anyways.

>> No.4631667

>>4630992
Remittance based taxation for aliens.
No capitals gains tax for aliens

Google it. Citizens of Malta have no tax benefits but residents do.

>> No.4631700
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4631700

mfw can’t cash out meme is true

>> No.4631753

>>4631584
You don't have to pay VAT over buttcoin trades in Europe.

>> No.4631789

Does Denmark have tax on profits from gambling? If not there are many sites you can gamble your crypto. There are a few no profit no loss spins you can make on roulette. Get a digital receipt when you cash out.

>> No.4631821

>>4631753
Not talking about trades, but cashing out.

>> No.4631837

>>4630672

>Switzerland

Source?

>> No.4631873

>>4631086
there is a law that says if you buy something for the sole reason of speculation, then yes you pax tax on it, but that law is so old that not even the tax man cares about it

you literally have to call the tax department and say you want to pay tax on your gain, otherwise they will never know any better or even care

and as the article stated, someone could have made a 1000kr gain (159$) and pay taxes if he reports it, and someone could make a 1,000,000kr profit (159 063$) and not pay a single penny in tax

>> No.4631965

>>4631667
Yeah I have

"Individuals who are either not ordinarily resident or are not domiciled are taxable in
Malta on a source and remittance basis, that is on income and chargeable gains
arising in Malta and on their foreign income remitted in Malta but not on capital gain
arising outside Malta regardless of whether remitted in Malta."

What I mean is, how do you determine that selling crypto is "foreign capital gain" and not capital gain arising in Malta?

>> No.4631986

>>4631873
I see, thanks anon

>> No.4632045

>>4631986
>http://www.vistisenlunde.dk/nyheder/bitcoins---skal-man-betale-skat-af-gevinsten?Action=1&M=NewsV2&PID=8656
forgot to link the article

>> No.4632060

>>4631356
which states?

>> No.4632155
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4632155

>>4631407
>actually declaring it
you know you can open up mobile uk bank accounts in 20 minutes?,monese, firebank, revolut etc, just keep it under 10k a transfer and withdraw in from atms in cash and you will be fine

>> No.4632444

>>4631965
If you send the fiat to Malta it's capital gains a raised outside of Malta so no tax

Say you are a German citizen who lives in Malta and sends the fiat to your German bank account, then you are not taxed on that event no matter if it's 1000 EUR or 10 million EUR.

Remittance = money you bring in to Malta (including bank account)

>> No.4632692

>>4632060
Washington is one

>> No.4633204

>>4632444
Okay that makes sense. With the same logic, Thailand should work as well, or what do you think?

"Any capital gain or investment income from sources outside Thailand is not subject to taxation unless a resident taxpayer remitted the process into Thailand within the same calendar year it is received."

>> No.4633987

>>4630588
Nz doesnt as long as its long hodl investing and not day trading like a job