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Topic: What are taxes in Belgium? (Read 166 times)

legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
July 10, 2018, 05:17:25 PM
#4
Right,if I understood well I'll ask my family member to receive the money in his bank account and give me cash and report  "gains",that's the part where the issue is.What gains?I didn't buy Bitcoins in Belgium so what gains should him report?Should he report the amount sold or...?

Usually, if you have gains you have to fill a form and send it once a year to your local IRS, which in Belgium is called General Administration of Taxes. Since you are using your family member's account, that's the "weak point". If anyone will ever be asked where that money came from, it will not be you, but your family member, because in the government's eyes he/she received the money, so he/she had an income, not you. If your family member can't prove how much he/she paid for the coins, the gain is all that they're getting for selling them. As for when they have to report it and on which form, they should ask in the tax office. Usually it's once a year with all the other tax forms and can be done online. I bet you can also ask the tax administration about the details, just email them if you're unsure.

There's also a chance that they won't require any reports since the tax is 0% anyway, but most administrations do.
sr. member
Activity: 840
Merit: 375
July 10, 2018, 03:54:15 PM
#3
Hello,
I'm a tourist in Belgium and I want to sell some BTC.I'll probably receive the money within a family member bank account (Belgium account) with SEPA wire.
I wonder if I'm subject to any tax? If there any Belgian here please shed some lights on my concerns it would be much appreciated.
Regards

As far as I know, if you're a tourist and receive money in another country, you're subject to your local laws. That's because your tax residency hasn't changed.
Since someone in Belgium will get the money for you, it would be the most beneficial if that person reported gains, especially since:
Belgium does not tax capital gains on personal property. Capital gains on personal capital assets and investments (that are not used for a business) are tax exempt if they are realised within ''normal management of a private estate consisting of securities, tangible assets or real property.'

If I were you I'd ask the family member to sell and report gains in Belgium, where it's tax free, and give you cash.
Right,if I understood well I'll ask my family member to receive the money in his bank account and give me cash and report  "gains",that's the part where the issue is.What gains?I didn't buy Bitcoins in Belgium so what gains should him report?Should he report the amount sold or...?
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
July 10, 2018, 03:22:37 PM
#2
Hello,
I'm a tourist in Belgium and I want to sell some BTC.I'll probably receive the money within a family member bank account (Belgium account) with SEPA wire.
I wonder if I'm subject to any tax? If there any Belgian here please shed some lights on my concerns it would be much appreciated.
Regards

As far as I know, if you're a tourist and receive money in another country, you're subject to your local laws. That's because your tax residency hasn't changed.
Since someone in Belgium will get the money for you, it would be the most beneficial if that person reported gains, especially since:
Belgium does not tax capital gains on personal property. Capital gains on personal capital assets and investments (that are not used for a business) are tax exempt if they are realised within ''normal management of a private estate consisting of securities, tangible assets or real property.'

If I were you I'd ask the family member to sell and report gains in Belgium, where it's tax free, and give you cash.
sr. member
Activity: 840
Merit: 375
July 10, 2018, 01:20:13 PM
#1
Hello,
I'm a tourist in Belgium and I want to sell some BTC.I'll probably receive the money within a family member bank account (Belgium account) with SEPA wire.
I wonder if I'm subject to any tax? If there any Belgian here please shed some lights on my concerns it would be much appreciated.
Regards
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