Slovenia: No Capital Gains Tax on Bitcoin - page 2.

bryant.coleman

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Quote from: cr1776 on December 28, 2013, 09:07:09 AM

Look at these two also:

Antigua citizenship by investment:
http://cip.gov.ag

If you are a US citizen, Puerto Rico to avoid capital gains taxes:

http://www.caseyresearch.com/articles/the-only-legal-way-to-escape-us-taxes-besides-death-and-renunciation

These are good summaries, but they've been covered in the WSJ and NYT and other places too.

The Dominican citizenship for cash program is much more in demand as compared to that from Antigua. But all these nations do have extradition treaties with the US. No not 100% risk-free. Huh

cr1776

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Look at these two also:

Antigua citizenship by investment:
http://cip.gov.ag

If you are a US citizen, Puerto Rico to avoid capital gains taxes:

http://www.caseyresearch.com/articles/the-only-legal-way-to-escape-us-taxes-besides-death-and-renunciation

These are good summaries, but they've been covered in the WSJ and NYT and other places too.

bryant.coleman

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Quote from: ?? on ??

Switzerland is really complex. Each of the 26 cantons are allowed to determine their own tax regulations. (even something such as immigration is different for each of the cantons).

Then there might even be Cantons which don't require any tax at all. Grin

The problem is that gaining residency in Switzerland is difficult as hell. Huh

El Extranjero

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Quote from: BittBurger on December 27, 2013, 12:21:48 PM

1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.

Any others yet?

As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately: Work on citizenship (dual?) and set up a bank account there. If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank. No reason why you wouldn't set that up now and begin accruing longevity.

As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries? I mentioned "dual citizenship" because I've heard of such a thing. Know nothing about it though...

-Burger

You don't have to renounce it but in the case of my friends they both had to turn in their original birth certificates to the nation of which they were requesting citizienship from. I don't know if that applies to all other nations though.

BittBurger

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Quote from: BitAddict on December 27, 2013, 12:28:18 PM

Are you sure that if in Germany you buy 5,000€ in bitcoins and after some time you cashout 50,000€ you have 0% to pay? No capital gains tax? No other tax? I don't think is that easy.

If you hold the coins for more than 1 year, there is no capital gains tax in Germany. http://arstechnica.com/tech-policy/2013/08/germany-recognizes-bitcoin-as-a-private-money-subject-to-capital-gains-tax/
(note the subtext on the title). "The Ministry also clarified that if a German taxpayer holds bitcoins for more than a year, she is exempt from paying the 25 percent capital gains tax." Germany was actually the first country I heard announce this, so it's been on the list for awhile now.

-Burger-

BitAddict

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Quote from: BittBurger on December 27, 2013, 12:21:48 PM

1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.

Any others yet?

As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately: Work on citizenship (dual?) and set up a bank account there. If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank. No reason why you wouldn't set that up now and begin accruing longevity.

As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries? I mentioned "dual citizenship" because I've heard of such a thing. Know nothing about it though...

-Burger

Are you sure that if in Germany you buy 5,000€ in bitcoins and after some time you cashout 50,000€ you have 0% to pay? No capital gains tax? No other tax? I don't think is that easy.

BittBurger

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Merit: 1001

1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.

Any others yet?

As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately: Work on citizenship (dual?) and set up a bank account there. If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank. No reason why you wouldn't set that up now and begin accruing longevity.

As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries? I mentioned "dual citizenship" because I've heard of such a thing. Know nothing about it though...

-Burger

Tomatocage

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brb keeping up with the Kardashians

Quote from: ?? on ??

Quote from: Tomatocage on December 27, 2013, 10:27:13 AM

Quote from: ?? on ??

Quote from: Alias on December 25, 2013, 07:20:20 PM

My interpretation of this is simply that you don't have to pay "income tax" - that does not necessarily mean that you don't have to pay "capital gains tax".

Then I believe you misinterpreted.

How exactly does one misinterpret "individuals who generate income by selling bitcoins will not pay income tax."

Because you claim there might be a capital gains tax while it clearly says there isn't.

It wasn't me, it was Alias. Can you verify that CGT does not have to be paid either?

bryant.coleman

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Quote from: ?? on ??

What if the yeild is 10,000 percent? 1.2 is small eh?

This is exactly why I asked the question.

And one more thing... I think that the 1.6% tax applies in Switzerland only if you owns more than 1 million CHF worth of coins. For the other slabs, the rate is much lower.

Tomatocage

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brb keeping up with the Kardashians

Quote from: ?? on ??

Quote from: Alias on December 25, 2013, 07:20:20 PM

My interpretation of this is simply that you don't have to pay "income tax" - that does not necessarily mean that you don't have to pay "capital gains tax".

Then I believe you misinterpreted.

How exactly does one misinterpret "individuals who generate income by selling bitcoins will not pay income tax."

bryant.coleman

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Quote from: ?? on ??

Yeah so exclude wealth tax countries too. As far as I'm aware Belgium, Germany and the Isle of Man should be on this list.

Why exclude the wealth tax countries? The maximum wealth tax in Switzerland is 1.6%, which seems minuscule to me. So Switzerland should be on that list.

gamybtc

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I hope it is available in Asian countries?

Haha.

bryant.coleman

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Quote from: BitAddict on December 26, 2013, 07:36:53 PM

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

I think in Switzerland there is no Cap Gains on Bitcoin profits. However, there is a wealth tax.

Xendrios

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Quote from: BitAddict on December 26, 2013, 07:36:53 PM

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

I believe there's no capital gains tax in my own country (Belgium)

BitAddict

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Activity: 1190

Merit: 1001

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

AnonyMint

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What about VAT? EU harmonization?

Bitcoinpro

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would only be temporary

bryant.coleman

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This announcement will give an enormous boost to Bitstamp. The exchange is registered in Slovenia.

Ecurb123

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I really like Slovenia, it's a nice place and this is good news to hear. But to me I don't really care that much if we have to pay capital gains on the sales, because that's just like anything else. In fact maybe if will end up being a positive because it could encourage people to use bitcoin rather than sell it for fiat.

glub0x

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Quote from: skeet on December 26, 2013, 01:49:52 AM

In my opinion Slovenia might be an exception here but more countries will absolutely taxed those people who generate income selling Bitcoins.

France is a good option too i belive over 50% is taxed if amount >100 000k euro!
but hey only 15% if < 5 000

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