Topic: Best EU country to tax profit on crypto currency trading (Read 8336 times)

Anyone interested in this, might want to check out the solution discussed here:

https://bitcointalksearch.org/topic/0-tax-when-cashing-out-crypto-5080391

I've only so far heard of those too, so I suppose they could be running up your candidate list to check for sure if that's the case, because I've not had to research into that thoroughly.

Portugal 0% on BTC as an individual. (For now)

Or.

Get a company in Antigua and move your address to antigua too. Only need to stay in Antigua for 7 days a year to go under there tax system. Thats 0% and no accounting.
This will be good for a PP.
Get a Barclays bank account for your company and your ready to roll.

All legit and tested. Just dont stay in your own country for more than 6 month a year.(EU country). And dont own anyting in your home country. You can own a summerhouse,

Trader will be tax free only if the country of residence does not require the person to pay the tax
or if he manages to escape from tax authority by legal of illegal means

Traders are "legal persons" and are usually liable on income tax in country of residence.

I think that taxes for traders are hard to stress because they do not have a name on the state tax board.

Slightly different from the Exchange who set up the company in a country where the Exchange is registered to be imposed on its income tax.

its simple like this:
Trader = tax free
Exchange = taxable

Can someone confirm this?
Thanks.

Is this related only to legal entities (companies) or also physical persons?

Malta is best EU country to get tax profit from cryptocurrency most of the exchangers ico company are lining up for Malta and Malta and Gibraltar both the country want to become world destination for blockchain asset

False, you pay 19-25% income tax + 14% healthcare tax..

33-39% in total.. stay away from Slovakia..

As long as what you are doing is legal then you should not get in trouble by having an offshore corporation, some countries still need that you report all your income even if it is earned overseas and if you do and your company is structured properly then you are fine, the problem is that many people are doing illegal stuff with those companies and that is why many people think that those that do that are criminals.

Hi,

I got an idea and would like to think out loud.
Did anybody try to withdraw money through visa bitcoin card? Now there are many visa cards that are linked to your wallet and you can withdraw or buy with this cards.
So if someone lives near the border in EU and can travel to next county to him and withdraw from ATM machine, is it possible for his local tax authorities to detect him?

I really think it doesn't work like that. If you want to use your money, it doesn't matter where you have deposited it. You will have to declare it, tell where it came from and pay your taxes. So the only regulations you need to care about, are the ones of the country you are in, and want to spend your money. I'm not an expert of course, but I really think that's the way it works. I don't know where you are from, but from what I know, most countries in Europe still don't have any well defined laws about bitcoin, so if you keep it low you don't have to declare anything. If you normally go over 10K or 15K, then you will have to explain where that money came form, and you will pay taxes.

So, we come to point that: "Pay your tax", so Govs benefit more from crypto than people. is there any tax relief schemes?

"Criminals always win in this system"

Nope. I get what you are saying, but criminals never win in the end. Everything we do in life comes back around, unless you ask forgiveness and are forgiven. Someone who sends their money offshore to avoid taxes... they will not win in the end. It is just how it works.

Bingo.

Jeff just posted about this issue @ https://www.youtube.com/watch?v=aM-Mmxm0OEQ&feature=em-uploademail
Like he and me are saying comes down to point 5 in the end. Like I've said, all the work and risks by registrering your corporation in a foreign country for the very tiny time being is just plain dumb, especially when you are a EU citizen trying to escape taxes to another EU country. You cannot win in the same system... that's the point. Since the inception of the EU, sovereign nation states were already transferring power to the EU and it's still going on, brexit or not and eventually, every EU country will have the same laws. It's certainly no coincidence that one law in the USA is also at the same time being passed in the EU and Australia, got my drift? You want to win? You move out completely overseas with the most corrupt or small government or suffer like the rest, because there will be a time when the barbarians are kept lose on those that do have something vs those that don't own anything and that's by design (i.e. socialism, the never ending wars on anything (wages, gender, race, income, etc.)). Why do you think muggers and thugs are always operating in their own neighborhood and never go to the richer places and nothing is done about it. The western world is already socialized/domesticated, at least you can own and use guns in the US, because if you own one here in the Netherlands and use it for your defense, you go to jail, even when you defend your life and this has happened and was widely reported on the msm. Criminals always win in this system.

the whole point is that while the legal field is not defined
then, accordingly, you can not legitimize profits

Correct, taxes are supposed to be paid on the place you live, unless you create a corporation in another country and the profits belong to that company so if you want to pay taxes in a country with lower taxes you will need to move out, that is why many people do not bother to do all of that since the profits they could get are not that great to make that big change in their lives.

I've never said that you will "never" get caught doing this, especially when it comes to tax evasion, which is the opposite of tax avoidance, which the latter I clearly spoke of.

There is a 6th option, which is the agorist way (peer-to-peer / individual to individual, like localbitcoins, etc., which would be tax evasion.
I do NOT recommend anyone to commit tax evasion. If you are smart, you'd pay as minimal taxes as possible, which is the route of tax avoidance and that's exactly how the rich do it and know people who do this using overseas trusts and some being a resident of another country.

Why do you think Mark Zuckerberg pays himself out $1 a month for salary, so he pays the least possible taxes on capital gains from his stock, wouldn't you do this if you were in his shoes? You cannot do this in The Netherlands as a resident of this country, as the Dutch irs STILL taxes you when you run a corporate business, despite paying out $0 for your salary, they still maintain a minimum salary the ceo has and will take taxes from it. And my friend who is the ceo of one of his enterprises who doesn't pay himself out any salary is required to pay taxes over this fantasy salary the irs is arbitrary making up, because they have a monopoly on force and are part of a criminal organization.

I agree with you that the working class is by design being robbed the most. They're slaves of 50% of only income tax a year, not withstanding all the mandatory payments that have been regulated and enforced. The fake news MSM talks about The Netherlands as the tax heaven of the world, what a joke. The rich people in my country are looking for safe havens far away from this country, including the royalty and many high level government employees.

The 1.2 - 1.5% tax on equity is about to chance, I'm 100% sure of that. It started with the leftists running this country for quite a while, being catalyzed by the Panama papers and now the Paradise papers. It's the topic of the day and the lies and propaganda are being displayed on MSM and many other channels on TV, it's a matter of time until they introduce capital gains tax and higher taxes for everything, which they do gladly do on a yearly basis anyway (inc. that of tobacco that next January are taxed an additional 10%). The stupid sheeple cheer for it and want to take more for the rich and like always, the regulations that will follow will hurt the poor the most (talking about karma). The rich will simply now emigrate to places like Hungary and South America and now the government will have deficits to be replaced by once again, the shrinking middle class, which then needs to be filled by the entire bottom of the pyramid, the poor.

I don't know the law in Germany, but I wouldn't be surprised that this is going to change very soon, just like in the Netherlands. It's how a socialist system is setup to be: take, take and take from everybody, except the plutocrats, by using divide and conquer tactics (right from Hegel and Marx). That's why socialists are called useful idiots, because if they ever read the sources of socialism and have a brain, no sane person would be one, because I'm sure nobody likes 100% taxes (i.e. no property rights, including your own body). When nothing more is to take, you're in the end game of the system, like Venezuela, Weimar Germany, etc. and then they want to get rid of in their eyes the useless eaters, which will be once again be, the poor, because they want to replace them with robots. And since almost everybody, except the elite are poor in socialistic countries (how they love equality), most folks will therefore be gone. Fits right in to their eugenics plan to cull 80% of the world population.

That's why I think plan 5th is still the best option, if you value your life and that of your family. If you have the balls, live off-grid and are streetwise, go plan 6, but I wouldn't recommend it. The other options take more work, risk and the system loves it how you play in their arbitrary setup and they can chance the rules at any time during the match, so you always will be dependent and in fear when you have a lot of wealth. The very few rich people (from nothing to multi millionaires) I personally know are considering plan 5 for quite some time now as well. Just my take on things.

Well you mention to never get "caught" that implies tax evasion.
But there a for sure legal possibilities to lower the tax and not evade them
but I think it would require to do this over more countries.

Look at how they (the rich) legally avoid paying VAT on airplanes and ships
by registering them in Isle of Man and Tax Authorities can't do shit about this
because is 100% legal.

The system is anyway designed to tax the working class and to keep the elite at the top of the pyramid.
For example the things you say about NL 1.3 - 1.5% tax on equity is a small tax to pay if you do it once a year.
A crypto whale could do this for example withdraw 200-250 K€ once a year to comply with regulation.
I think this amount of fiat is enough to live a good life in EU within the period of 1 year of maybe event 2.

Also currently one of the country that if favorable to common people when it come to crypto is Germany.
They treat BTC as private money and the requirement is to keep it at least 1 year in your BTC account
before cashing out into FIAT that means once bought not trading should be done any more and you can withdraw after 1 year
without TAX.

This is at least what I have read on internet.
So the alternative would be to move to Germany for a year or so if you plan to withdraw a bigger amount at once.

I think that in European countries very strict tax laws, but nevertheless. If you turn your attention to the Eastern region, then there is more without limit and therefore if you apply the European laws to Russia or Ukraine, then the people will live. The fact is that the infrastructure does not pass at all under the European Tax Code.