>Norway
>24% tax on every profitable trade
>24% deduction on trades that are in loss
>if the total worth exceeds $170 million you must pay wealth tax
The good thing is that from my experience, the tax bureaucrats doesn’t give much shits about your transactions most of the time and only tax what you withdraw.
>if the total worth exceeds $170 million you must pay wealth tax
Fuck typo, meant $170.000
RESPOND TO MY SHITTY THREAD YOU FAGS
>uk
>operate my trading in an offshore trust
>pay no tax but around 10% in accounting and banking fees
>RESPOND TO MY SHITTY THREAD
I appears your to dump to set up properly...How do you expect to be profitable in one of the worlds highest tax countries...
set up offshore FAG!!!!
NL
The value of your crypto on 1st of january in a year is taxed as follows:
€ 0 - 70.800, 67 % against 0,36 % and 33 % against 5,38 %
€ 70.800 - € 978.000, 21 % against 0,36 % and 79 % against 5,38 %
€ 978.000 and up, 100 % against 5,38 %
I must add: these are the rates for possessions in this category after a 30 K threshold.
>pay wealth tax
wtf
it's for jamal ok?
Spain, too many taxes. I'm not paying them.
For big quantities
>money goes out of the exchange
>more money comes in
>I won everything at eosbet sir, not a single succesful trade - or any other stupid excuse.
or
>buy gold with btc at jmbullion
>sell gold
For small quantities, no one cared this far and I just transfer from exchange to bank. If it becomes a problem someday, I'd just take my money to an offshore as said
Much worse here
>Finland
>30-34% on every single trade
>losses can not be deducted
JUST
> Oz
> 47% tax on gains
> Crypto-crypto trades are taxable
> 50% reduction if asset held for >1 year. However, very few qualify for this given that crypto-crypto trades are taxable and the ATO cunts only announced this in early 2018 after the bullrun and crash. Faggots.
1 Jahr Langzeitspekulation und Mutti sieht keinen einzigen meiner stinkenden Linken
>US
>no fucking clue lmao gonna cash out off shore and run from this shithole when the time comes
explain how the wealth tax works. how bad is it
we had a talk about something similar, I think this is the most retarded thing I've ever heard.
I wonder, if you can get into tax debt slavery by losing everything before paying tax
>I was hacked
>Now fuck off!
wow, zero fees here. officials have troubles collecting regular taxes as is, nobody can't be arsed chasing some internet money.
Yeah it is absolutely retarded. I know someone who had traded and made good profits but then suddenly when they updated the tax rules he realized he owed more tax than his winnings
> Greece, no taxes, trust me
that makes absolutely zero sense. wow. hopefully won't last long as they realize how dumb it is
>Switzerland
>dont report any of my crypto assets
und was ist mit ETH/BTC, das du in LINK getauscht hast
>taxable event
what the fuck, you are taxed for possessions? holy shit jewed into oblivion
this isn't Jow Forums, you need to specify where "here" is
russia. I'm puzzled, how are they going to view your trade history, they are asking for your binance login info or something?
Nigger it's 34% on the trades where you gain something, not 34% of every trade, BUT
>Trade 1000$ into 2000$
>Trade 2000$ into 0
>You still owe 34% out of the 1000$ profit you made and now you have no money
This upper is a legit scenario I've heard people have. Nice stuff our taxman, yep.
In our country they ask the logs of the trades you made to prove to made the amount of profit you claim. If you don't provide any info, they will tax you for the full amount that comes to your bank account even if you made a profit which just consist for example 1% of the total sum you transferred to your account.
Op Is a fag
(((wealth tax)))
Deutschland
Full income tax on gains of coins you sell after less than a year, or on which you have other income generated by them (divs, mining, anything)
No tax at all on gains after HODLing for a year with no other related income from the coins
0.7% annually I think. Which translates to 1k in taxes every year if you have exactly 170k. Ironically if you cash out and put it all in a bank with decent interest rate, you won't really lose anything on that
I don't cash out, just withdraw coins and use online exchanges to convert coins to money and in the books it literally looks like just some dude is sending me money, I wonder what they're gonna do about it
USA. used to be absurdly based until 2018 because you could do tax free exchange of property and carry your holding basis to get the long term rate even if you traded a bunch of shitcoins. now after 2018 it's like a sick nightmare that will kill crypto
huh? You mean that if you don't give them any info they just tax you 34% of what you withdraw? Why would anyone not just do that instead of having to bother accounting over 1000 trades fueled by pure autism?
>slOVENia
>tax for trading only if lasting activities that can be determined as a full-time job (something along the lines of 100+ trading days with more than 100 transactions)
>airdrops are taxed at 15% for individuals, 4% for self-employed
>tfw received 10k in airdrops
how do i cope
I'd be pretty shocked if the IRS digs deep into trades. they are also just basically concerned with getting tax owed on cashed out amounts too unless you are a mega whale. NOBODY wants to fucking go through all these trades, not to mention there isn't even any guidance issued since 2014. I used to fall for the FUD that if you didn't have a 100% perfect record they'd take all your money, but after talking to lawyers experienced in the area of taxation I became much less nervous. These are boomers we are dealing with.The real boomer world is a lot more of a shitshow than you would assume. If you just make a reasonable effort they most likely will not fuck with you
did you actually cash out? How much you pay in tax?
Bro fellow norwegian. Would you live in any othe country than norway?
I guess not. only semi utopian country that excist
would like to add
But paying taxes for jamal skal runke rundt på NAV og snylte, de er bullshit.
soo norway is great, immigration is treathening the enither system fuck i hate immigrants from mogloid countries
Belarus
0% to Mining
0% to trading
0% to cashout
>Estonia
>Trade all you want
>Only pay 20% to the tax man when cashing out
I cashed out enough to not worry about anything for the next 8 years or so while keeping the rest (mostly link, btc, xmr, and dcr) I ended up paying around 34% of cash profits all said and done including my low self employment income. It fucking hurts but it's very risky not to if you are moving money into a US bank as an individual. If I had forseen my profits being of this scale so quickly I may have looked into some kind of solution but from what I can tell as long as you are a US resident there is no legal way to avoid taxes or reporting through any kind of corporate structure unless you plan on breaking the law
who is commie now eh, 20%, 40% what the actual fuck guys
Ukraine
not payed single penny to gov scumals, tho cashed very big sums already. Friend of mine, who is idiot obviously, he tried to pay taxes by his own will, they basically tell him to fuck off, because noone know what crypto is, kek at fuckers
Our laws usually suck, but this time our laws are not too bad compared to other countries.
1% on all trading and transaction volume
but wait, we do have to pay for every conversion, right?
example:
buy 1 BTC ==> take on exchange ==> convert to shitcoin of your choice (TAX!) ==> profit ==> reconvert to BTC (TAX!) ==> 2x TAX on amount you made
is this not correct?
Switzerland by a far margin
sucks right? i made like 1k trades this year before they even introduced that law, for basically like 20% profit total lol
gg for airdrops are you the guy who was asking about that a lot on the blockchain think tank meeting?
based
nah, but i did pay attention to their telegram group. wasn't the shitposter who was trying to derail the whole think tank suggestions for the government, rather see I lose the entirety of my airdrops if that means I'll have more lax crypto regulations and friendlier ecosystem
If I were you I wouldn't even report it to the government if the amount is small. Too much hassle and you might end up paying more than you profited with the amount of trades that you made
This, thanks for nothing drumpf
>"stinkenden Linken"
"stinky linkies" amirite?
in the netherlands we pay 0% tax on trades but we pay 1,2% on all our assets worth more than 30k. seems like heaven compared to all these scary rates
>Portugal
>no tax
if you hold it for more than a year before the conversion I don't think you have to pay tax
and if you don't, you only pay tax on the GAINS i.e. convert all transaction to EUR values
basically each conversion is taxed as if you sold it for EUR and then bought the other thing with EUR, and for the sale you subtract the original purchase value
then move there