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26327614 No.26327614 [Reply] [Original]

Which place is worst to cash out your crypto gains?
>be me, in Slovakia
>We have to pay 25% income tax from crypto (poor people have to pay 19%)
>I need to pay 14% health insurance from cashing out crypto
>the state gets 39% from my gains
>crypto-to-crypto is a taxable event
>after that you can finally buy anything you want just to pay additional 20% VAT

>> No.26327819

The use case for crypto is not too go back into fiat and just spend with like minded peeps.

>> No.26328046

>>26327614
>be me Slovenia
>no tax
>problem?
>be me cashed out too late now im losing €

>> No.26328095

>>26327614
>be me, in Argentina
>wagecuck for a us company
>make 60k/year
>taxed at ~80% rate (50% forced exchange rate+35% income tax since I'm in to 1% of earners for 60k+other taxes/heath insurance too)
> 21% VAT
> 40% inflation every year
> can't buy legally more than 200 USD per month
crypto is mostly unregulated, it's great for cashing out but you have to do it in the black market exchanging it for cash. It saved my life
I've all my savings sin DAI/ETH right now, since no back would open a USD back account for me and don't trust shit fintech startups like transferwise.

>> No.26328140

>>26327614
Just don’t fucking sell

>> No.26328180

>>26328046
I have actually planned to come to Slovenia for at least 180 days to change my tax domicile and to cash out crypto. This or Czechia. Czechia would be easier, because of no language barrier but they tax it at 15%. Still better than our 39% tax.

>> No.26328262

>>26328095

westerners are totally biased think everywhere is like yurop or burgerland, dont realize how huge cripto is for people in absolut commie shitholes. Once they realize that and the direction we are taking, they'll all in moneros

>> No.26328332

>>26328140
Yeah, but technically I still have to pay the tax because I should be taxing even crypto-to-crypto trades.
No chance I will pay that.

>> No.26328345

>>26328180
the only good thing in Slovenia is we have no tax on crypto.

>> No.26328381

>>26328332
i think thats pretty much everywhere that tax cryptos as capital gains

>> No.26328399

>>26328345
Really? Doesnt Slovenia have the highest income from the post commie countries?

>> No.26328824
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26328824

>>26328180
why are you cashing out? Go to some shithole like my country. In Buenos Aires you can exchange crypto for USD cash and none will ask you thing. You can contact the big traders in localbitcoins by email or telegram and they would gladly give you cash if you go there, no questions asked.
You can take with you in your flight back up to 10k and none will ask, not even in europe. You can do several trips.
I don't know about other shitholes but in Argentina it is like that.

>> No.26329032

Theres something i don't understand. Is there anyway for a gov to find out what your crypto trades are? I thought privacy was the point.
Surely the most they could find out would be fiat leaving your bank to an exchange and then fiat coming back?

>> No.26329033

>>26328095
How the fuck you do it? I got an offer and I want it but no idea how to avoid afip jewerry

>> No.26329204
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26329204

>>26328399
I think Estonia is the most prosperous. Also, it has a 20% flat tax for capital gains and crypto. Uma delicia

>> No.26329749

>>26327614
i thought EE was based

>> No.26329866

>>26328095
wtf when did Argentine turn in to a communist regime? I thought those SA countries were corrupt and dangerous but at least lower tax rates. Damn, my Finnish 34% capital gain taxes are making me feel comfy

>> No.26329918
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26329918

>>26329033
If you get paid in crypto, it's simple. Just exchange it for USD in cash and then sell that USD in the black market.
If you can't, you can setup a transferwise account to get paid, then buy crypto in crypto.com. But be careful, if you move more than 10k montly in europe the afip will know if they investigate you, otherwise you're fine.
Also, Argentina doesn't share information with the US, so you can have money in an account there too if you travel, I don't know the safe limit I'm afraid.
I've seen people whose account was banned from transferwise/payoneer/other fintech for some arbitrary reasons; always take you money out to your crypto wallet asap and you'll be safe.
Then you can do some tricks to laundry the cash; you know how, don't ask me.
Otherwise just move to a decent country like Uruguay or Portugal

>> No.26329927

>>26328262
>Once they realize that and the direction we are taking
you think we are headed to what argentine has now?

>> No.26329944

>>26328824
Well I do have the same option here. Even for hundreds of thousands € (bit shady business, but it works). But it is bit hard to use that cash. Of course you can pay your food, rent etc. with it but it could be problematic to just go to a bank and deposit like 500k to buy a house. The bank teller has to ask you from where is that money coming from etc.

>>26329204
Well the weird twist is that we have 0% capital gains tax here in Slovakia if you hold it for longer than a year. But it doesnt apply to crypto. Just for regulated exchanges (stock, ETF etc.). So you can cash out like a billion € with 0 tax paid here it its stocks, ETFs, bonds etc. but not crypto, heh.

>> No.26329984

>>26328095
>can't buy legally more than 200 USD per month
What the fuck does this mean? can't buy what and why is it illegal over 200 usd/month?

>> No.26330006

>>26329866
Honestly the inflation is worse than the tax(and the tax rapes you) . I'm making less money than three years ago despite having a higher charge and a salary that's x4 in sheer numbers

>> No.26330008

>Germany
>no tax if you hodl'd for at least a year before cashing out

>> No.26330051

>>26327614
3rd world, only 0.3 crypto tax here indonesia
1$=14000 IDR- 13800 IDR

life's good

>> No.26330233

>>26329866
Every financial problem in Argentina is solved through more taxation and printing of a currency that has no value. I know I know Muh fed does the same, it's not the same.

>> No.26330346

>>26327614
Holy fucking hodl and emigrate to Portugal!

>> No.26330461

>>26329984
There's a limit so as to not drain the reserves of usd we have on our central bank, because nobody wants to hold our currency (pesos) due to 40% assured inflation every year, so if there was no cap everyone buys usd, we still do it but in the Black market, no way I'm holding my shitty currency. Crypto is our escape

>> No.26330592

>>26330051
Nice, Indo/anon

>> No.26330601

>>26330461
Reserve protocol RSV is your salvation, friend.

>> No.26330640

>>26330461
Why doesn't your country just convert to usd like Ecuador? Why does your country always vote left?

>> No.26330643
File: 68 KB, 1022x731, tiresome.jpg [View same] [iqdb] [saucenao] [google]
26330643

>>26329866
>>26329984

this is what happened:
>be lefty party from Argentina, full of corrupt people
>love chavez, socialism, social justice, etc
>pander to feminist agenda, make it a big issue in the media: (me too+abortion)
>win the election because current right-wing president is an inept and you have all the feminist(single-issue-voter)/socialist votes.
>increase spending like crazy (social gibs to immigrats, gov employees, etc)
>print money because none will lend you
>inflation 40%+ per year because brrrrrrrrrr
>people rush to buy USD because it's safer to store value
>you run out of USD reserves
>you implement a limit of 200$ per person per month
>black market instantly creates for buy USD
>"official" rate: ~80 ars/usd
>"black" rate: ~160 ars/usd
>everyone small in the exports bussines sell their usd in the black market
>gov makes mandatory to sell the USD to the central bank if you exported services or anything, at the 80 ars/usd rate
>btc is not taxed yet
>small exporters like me have to go to bitcoin/crypto to not get raped with the exchange rate

>> No.26330884

>>26329944
>you can cash out like a billion € with 0 tax paid here it its stocks, ETFs, bonds etc. but not crypto, heh
kek based boomer investors
what about Germany? I heard don't need to pay if you hold.
However, I think this year things will get a bit more complicated in europe will the new regulations.

>> No.26331180

>>26330884
>kek based boomer investors
Yep, the is no upper limit to it. You just need to hold it for at least 1 year and then its tax free.

>what about Germany? I heard don't need to pay if you hold.
Yes, that is true. But I think it would be harder to come to Germany for 180+ days to pay taxes there. In Slovenia, Portugal etc. it would be easier I am sure. Mostly in the sense that they wouldnt be really analysing any of my trades (crypto to crypto) and be okay with it as it is. In Germany the tax man would actively try to find such trades (which I did) and tax me.

>> No.26331182

>>26327614
Tak ti dobre.

>> No.26331538

My parents are from Slovakia. I thought most taxes were low or even nonexistent especially crypto. Do you think it’s a good place to move after I make it?

>> No.26331584

>>26331180
Portugal is wonderful. It's cheap and comfy. I wouldn't mind living in Porto for 1 year to cashout my crypto.

and yes, it looks like they don't tax you:
>https://www.forbes.com/sites/kellyphillipserb/2019/09/19/portugal-tax-authorities-clarify-that-buying-or-selling-cryptocurrency-is-tax-free/?sh=4d23a2a077e3

>> No.26331666

>>26328046
živjo :)

>> No.26331706

>>26331538
Depends on where are you living now. If its an upgrade or downgrade and also if you can speak the language. If you cant - I would choose other countries.

The taxes are mostly low and there are many taxholes for different things, but crypto is here taxed perhaps the worst in the whole world.

>> No.26331934

>>26328095
amigo sacate ya la residencia permanente en paraguay, te la dan asi nomas y te vas a ahorrar mucha plata y dolores de cabeza

>> No.26332049

>>26331706
I’m from the US and this place is dogshit. I don’t see it getting much better either. My plan is to get at least 500k USD and live off interest and maybe work remotely. As for the language, môžem hovoriť ale len trochu. My main concern is finding friends and a wife if I do leave. I don’t want to be a lonely boomer and seen as an outsider

>> No.26332071

>>26330640
>Why doesn't your country just convert to usd like Ecuador?
because to a socialist paradise like our country printing your own currency is basically printing your own votes, you give money to literal animals and they vote for you. It doesnt matter that the money becomes worthless in a month because of this, they dont care

>> No.26332146

>>26331584
based. if I buy Bitcoin in the UK and sell it in Portugal a year later after acquiring residence there, is there anything the UK taxman can do?

>> No.26332243

>>26332049
>môžem hovoriť ale len trochu
That looks good. In such case I would consider it. Slovakia or perhaps Czechia.

>My plan is to get at least 500k USD and live off interest and maybe work remotely
That would open a lot of possibilities for you. Otherwise your choice would be limited to Bratislava/Prague and perhaps Brno/Košice.

> My main concern is finding friends and a wife if I do leave. I don’t want to be a lonely boomer and seen as an outsider
You can be my friend anon, srsly.

>> No.26332297

related to cashing out in a different country
does anybody know how long you have to be in the new country before the sale for the old taxman to not get his pound of flesh
since we are lets say 10 months from cycle ath away

>> No.26332316

>>26332146
not from UK and not him, but most tax officies can print you a statement that you are liable to pay taxes in that country and it is your tax residence now. From that poin on you are safe. It is not needed, but it can make it clear for you.

>> No.26332372

>>26332297
If you are from USA - you are taxed no matter where you are and for how long.
Otherwise I think that in most EU countries it is at least half a year (actually half a year and one day).

>> No.26332422

>>26327614
I don't know what country is the worst even though as things are now i would bet the USA.
Portugal is the best country, 0% tax for any bitcoin profits you hold or any profit from their sales plus no sales tax in any transition with bitcoin.

>> No.26332425

>>26332243
Sounds good to me fren. You have a throwaway email or any other type of communication?

>> No.26332553

>>26332425
yeah, 135fds246@protonmail.com

>> No.26332558

>>26332049
you are going to get an UNREALIZED capital gains tax on all your investments. probably one of the most cucked things ive heard of in a while. Germany already has this for ETFs iirc

>> No.26332660

>>26331666
Zdravo!

>> No.26332703

>>26332558
>Germany already has this for ETFs iirc
This is so cucked, I hate politicians.

>> No.26332931

>>26332558
I heard for Germany if you hold for 1 year you don't get taxed at all? Plan on doing that once I have enough

>> No.26332967

>>26332931
Well that applies for crypto.

>> No.26333005

>>26332967
hold 1 year then cash out then?

>> No.26333042

if you are high 6 figures or 7 figures google Magic Circle firms. They might be able to help you without renouncing citizenships. Also I heard Belgium has 0% crypto tax

>> No.26333185

>>26333042
>Also I heard Belgium has 0% crypto tax
very dangerous to rely on
Belgium has no rules whatsoever on this event, its judged on a case by case basis, and boomers hate kids making money on crypto

>> No.26333487

>>26333042
Scam lol. Stop shilling your scammy firm in every thread, it's obvious

>> No.26333619

>>26329032
All they can do is ask the exchange you cashed out from for your full trading history. There is no tax department in the world right now that is doing chain analysis.

>> No.26333682

>>26328140
This

Don't you 3rd world yeah have some minimum floor under which you don't pay income tax?
If you literally pay on all trades no matter how small just don't cash out or leave to somewhere less tarded

>> No.26333734

>>26332931
>holding a coin for more than a year

NGMI

>> No.26334047

>>26333487
>shilling a firm
>using the plural firms
You must be a mutt. Your reading comprehension is near 0.
Pay your taxes like a good goy

>> No.26334179

>>26327614
atleast you can leave your shithole & not have to worry about FATCA