Best EU country to tax profit on crypto currency trading - page 3.

Serpens66

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Quote from: kolesozw on May 09, 2017, 11:41:06 PM

I was doing a similar research an year ago.

Cheapest EU country just for Profit Taxes is Bulgaria. There you are paying just 10% as taxes. But still the money remain company's money. If you want it clean for you, you need to pay 5%-15% dividend taxes. In Bulogaria you need to pay and monthly ~80 social taxes. It's mandatory.

Another good options are Malta and Croatia. For example in Croatia you could have a company and you are not obligated to pay yourself a salary (taxes respectfully).

when talking about bitcoin profit taxes, which is usually paid by private people, not companies, it might be better to look for a country where there is no tax on bitcoin profits at all.

I heard Denmark has no tax on it and Netherlands only 5%.
But I can not confirm this, only rumors.

kolesozw

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FRX: Ferocious Alpha

I was doing a similar research an year ago.

Cheapest EU country just for Profit Taxes is Bulgaria. There you are paying just 10% as taxes. But still the money remain company's money. If you want it clean for you, you need to pay 5%-15% dividend taxes. In Bulogaria you need to pay and monthly ~80 social taxes. It's mandatory.

Another good options are Malta and Croatia. For example in Croatia you could have a company and you are not obligated to pay yourself a salary (taxes respectfully).

VC George

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Carpe noctem

Why are you limiting yourself on Europe?
There are countless offshore Banks where you can deposit up to 200k without having to care about taxes and such.
The thing is, if you want to use your profits to invest in something else then yeah you really have to get them taxed
so you can justify their existence. If you're looking that way, a "fundraising via bitcoin" would be a nice option if you
know what I mean, from there and on I don't think you're going to get taxed for your active capital.

vsyc

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Quote from: Serpens66 on May 05, 2017, 02:06:32 PM

@vsyc:
It might be the best option to ask a tax consultant.
The rule with "half year" has many exceptions, so of course it is not enough to be tourist in a land.

Looks like that is the only way....

Serpens66

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@vsyc:
It might be the best option to ask a tax consultant.
The rule with "half year" has many exceptions, so of course it is not enough to be tourist in a land.

grenade launcher

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Quote from: vsyc on May 04, 2017, 07:50:24 PM

Quote from: Serpens66 on May 04, 2017, 06:24:31 PM

Profits from cryptocurrency is taxed nearly in every country.
(it seems "tax" is in english sometimes used as synonym for fee? otherwise I can't explain why so many people claim "there is no tax only fee for withdrawal/trading". This does not make sense, since real tax has nothing to do with any fees)

@vsyc:
It does not depend on where you are, it does depend on where you live (usually this is where you have your home or where you are more then half a year per year). You pay the taxes to that authority were you also pay all other taxes to.

Got it, so lets say I sold my GNT for BTC, in country that has tax 50% on income, and went to live in country that has tax 20%, after half year I decided to sell my BTC for fiat in latter country?

My point, if I understand this right, that there is no government/institution in the world to control profit when you sell one crypto for another. But there is capital gain tax/income tax when you sell crypto for fiat and do profit from that?

Speaking of half year, in some countries I can stay for half year as a tourist

lets say in US/Canada, how that works in this case?

It's best to really even really live in countries where Bitcoin can be legally used, because there are opportunities to obtain criminal penalties for illegal financial transactions in some countries.

vsyc

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Quote from: Serpens66 on May 04, 2017, 06:24:31 PM

Profits from cryptocurrency is taxed nearly in every country.
(it seems "tax" is in english sometimes used as synonym for fee? otherwise I can't explain why so many people claim "there is no tax only fee for withdrawal/trading". This does not make sense, since real tax has nothing to do with any fees)

@vsyc:
It does not depend on where you are, it does depend on where you live (usually this is where you have your home or where you are more then half a year per year). You pay the taxes to that authority were you also pay all other taxes to.

Got it, so lets say I sold my GNT for BTC, in country that has tax 50% on income, and went to live in country that has tax 20%, after half year I decided to sell my BTC for fiat in latter country?

My point, if I understand this right, that there is no government/institution in the world to control profit when you sell one crypto for another. But there is capital gain tax/income tax when you sell crypto for fiat and do profit from that?

Speaking of half year, in some countries I can stay for half year as a tourist

lets say in US/Canada, how that works in this case?

Serpens66

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Activity: 2940

Merit: 1131

Profits from cryptocurrency is taxed nearly in every country.
(it seems "tax" is in english sometimes used as synonym for fee? otherwise I can't explain why so many people claim "there is no tax only fee for withdrawal/trading". This does not make sense, since real tax has nothing to do with any fees)

@vsyc:
It does not depend on where you are, it does depend on where you live (usually this is where you have your home or where you are more then half a year per year). You pay the taxes to that authority were you also pay all other taxes to.

thebatletbet

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until now crypto curency without tax
because crypto curency still not yet regulated, fee only use sending fee(transfer wire) and fee withdraw from exchanger

vsyc

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Quote from: Serpens66 on May 04, 2017, 03:07:00 PM

I also would be interested on different taxes on bitcoin profits.

But the thing you described should be impossible. It does not matter where you withdraw your profits to.
You have to pay taxes in that country, where you lived at the moment you sold your GNT (so made the profit)

Tor or Proxy makes it very difficult to prove, considering that EU has "no borders".

e.g. I can be on fast train From Luxembour, picking up my friend in Cologne, before going to Amsterdam, and sale happened when I just entered 1st meter of Belgium Cheesy

"Hypothetically"

I can sell GNT for BTC being in Spain, and week after sell it in Luxembourg for Fiat, how that should work than?

Serpens66

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I also would be interested on different taxes on bitcoin profits.

But the thing you described should be impossible. It does not matter where you withdraw your profits to.
You have to pay taxes in that country, where you lived at the moment you sold your GNT (so made the profit)

vsyc

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Hi,
Sorry if it another yet topic and I should use search, but I will appreciate any help in this topic.

Lets say I put 10,000EUR EUR on Kraken, buy XBT, and for these XBT buy GNT.
Than I sell GNT for XBT, and XBT for EUR, that in total 50,000EUR.
My profit is 40,000EUR.

So question is, how can I legalise this profit? What is the best EU country to do so (less than 25% tax)? Do I need to have a Bank Account there? If so, can I open it remotely?

Example that I looking for, is:

Lets say Austrian bank can tax you 20% on income, it will open Bank Account for me, where I withdraw my profit, they will charge tax on it and provide certificate that these money clean. I will, go to Estonia, will buy land, Estonian bank will ask me prove of income, I will provide this certificate from Austrian bank, they say 'Good Man' land is yours.

Do I see it right? Or how the process of profit legalisation works? What is the best country for EU man (no matter what country resident EU man is at point of time)?

Thank you.

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