Have 100BTC

Pay your taxes, Nigel.

>live in germany
>use bought btc to speculate/trade on altcoins for a year
>sell btc on german btc exchange
>pay no capital gains tax because you bought btc over a year ago

i am not a 100% positive this is actually how it works, but if it does, it is the only upside of this shithole country

Or instead of cashing out, use your crypto to buy the things you need.

Can't you just go to some big ass city and sell them for cash on localbitcoin ?
I can get good prices but would take me years to sell 100 btc. I guess in New York you can be done in 1 day.

Shit, if I hit it big enough to afford a luxurious lifestyle I'll take the tax hit.

All I'm hoping for is a few $100k to buy a house and maybe couple of apartments for rental income.

Then what? Smuggle hundred dollar bills in your ass?

good one user.

>Create anonymous coin
>Keep its value stable
>Work with tenX to make it spendable

This solves the government jew problem. Why isn't nobody doing this

haha, yes
but I think if you win more bitcoins trough trading, you have to tax these gains.

nice!
i will come to your country as a refugee to get a residence and sell my shitcoins

There's no problem unless you're unfortunate enough to be from the USA.

You can do that with 1BTC, sure.

>Keep its value stable

tether does that...but it feels like a fucking scam. i mean, i understand that it works when bitcoin value goes up, but how the fuck do they manage to keep it at $1 when the value suddenly drops down massively?

fuck off cunt

>implying

australian, non dom uk citizen. what do i do then user?

Also Belgian, the speculation tax has been been scrapped since January 1 2017 you dumb fucks.

meant for

bloomberg.com/news/articles/2017-09-26/singapore-cryptocurrency-firms-facing-bank-account-closures uninformed fag

HOLY FUCK I CAN GAMBLE AGAIN.

So we pay no taxes if we cash out?

yea its not gonna work lol

that's what it means. you can just declare it as income on your tax sheet and you pay 0tax on the income.

Maybe better to start a company in somewhere like BVI and sell the Bitcoin through the company.

Also if anyone is interested in setting up a belgian company with me as to profit from the no capital gain tax. Hit me up.

Fuck i never knew lol, thanks user, finally our country is good at something

;)

You'll see when the giant ponzi scheme comes crashing down.

I’d say just slowly liquidate them by having multiple bank accounts and converting them to USD a few hundred dollars a week. Do it over a long period of time. Small transactions arouse less suspicion.

tether is fiat in practically every way

Sometimes I'm grateful I was born in a failed state fiscal paradise and I don't have to deal with this shit

Gambling Day cruises to international waters?

sgd-btc trader here
this definitely accounts for my exchange sgd/btc volume suddenly going x5 this week.
luckily my exchange is jp based

It's not income. Because income is heavily taxed. There is just no Capital Gainz Tax in Belgium and it has been ruled there is also not VAT applicable on cryptocurrency.

The only thing which they might try to squeeze money out of you is claiming it is a movable asset and the money you made out of it is seen as some sort "dividend" interest or whatever. In such a case a 30% applies.

Keep in mind while there is no Capital Gains Tax is Belgium you do get taxed on money you make out said fixed, movable assets in the for of dividends, interest, ...

But yes, there is no capital gainz tax on stocks either. So you can buy a stock for 100$ sell it for 1000$ and keep your 900$ in profit. Keep in mind that there is a small trade tax of 0.27%.

it's not how it works. You're supposed to pay tax on every profitable trade dude. The 12 Months tax free this only works if you don't touch the crypto for 12 months. If you use them to trade other alts you need to pay tax on every profit you make with that. Also, just go to a BTC atm (netherlands border for example) and cash out without stupid banking acc. Finanzamt will never see this this way.

Nige. There's a (((double taxation treaty))) between Aus, UK and Singapore. If you deposit 4 million in a Singaporean bank account, regardless of the passport you use to open it, your details will be sent back home base and you will be get your shit pushed in.

Singapore is not the Cayman Islands, retard.

So i would have to pay that tax for every Trade on a crypto exchange i ever made Profit on?

so what you saying is i should fly to the caymans instead and sell there?

yes.

good thing bittrex keeps logs of your trades then

OK, you've only got 100BTC, not 1000 so it's only $400k. Not enough to warrant a Cayman Islands solution and Singapore isn't your friend when it comes to keeping your transactions anonymous.

it is when australia will take almost half of it.

i just realised singapore has no bank secrecy laws but most of the caribean do, and wont snitch on you. The caymans are ideal, it appears theres massive demand for BTC, people buying in cash and its easy to deposit cash into a legit caymans bank.

Have fun next year with aeoi. Ecpect a call from your local revenue service . It's called tax evasion.

In Denmark you dont have to pay taxes on crypto gains

They decided it is like if you buy a painting and sell it with profit, where you dont pay tax on gains either

Why not just use localbitcoins.com and buy cash?

Or only cash out small amounts, like below 2000$? You realize government can't see the balance on your bank account, right?

good thing you can still cash out money at bitcoin atms without linking anything to your bank account user

have fun next year in the office, expect a call from Mr silverberg. its called getting wagecucked!

>I'm going to use Belgium (tax-free too).
WOOOOOT
SOURCE

He thinks what he do is legal. Well its not. Unless he already live in a country without capital gains tax.

When you opened the singapire account u will have to give them yiur tax residency where your balance and transactiin till be reported annually. Its an obligation from OECD

So thinking they won't find out is stupid. Simplest solution would be to open the account with your name in another country utility bill. Say you are trench citizen and live in France but have an apartment in Spain you can use the Spanish bill to prove residency and it will be reported to Spain instead

Where are these Bitcoin atms in Belgium located? Never seen one before

Hello fellow Belgians

Sup Senpai, posting from phone now so different ID

Sorry you are new rich and stupid you will find out the hard way with 40% penalty tax. You will learn eventually when you get a grip and are not up there on your clouds with your uptightness

>cashing out all your BTC to fiat
FUCKING WHY? I don't get this. Just use small amounts and you're good to go, no gov/bank cares about 2000$ deposits.

Well unless you want to buy expensive shit like lambos. In this case just do cash exchanges and ``launder the money'', it's piss easy. You can't really avoid paying taxes here, since all laundering requires it, so you might as well pay your capital gains tax. But only do it on huge amounts that you need to buy property/expensive cars/jets with. You can still save plenty of money this way.

>have 10,000 BTC
>buy the IRS
>cash out tax free

No, other people are mostly lying salty Americans. What happens is it is regarded on income and you get progressively taxed as that.

I have been doing some more research and even though there is no Capital gains tax there are 3 other issues.

1. Buying and selling on a regular basis makes you a trader (so not only buying). Which is regarded as income and taxed.

2. The state may still rule you are "irresponsible" with your money and not a good housedad. (Weird I know) In which they will still try and classify is as income. (So taxes)

So do not trade very regularly. (Or even better only buy) And wait until there is more clarification about cryptocurrencies and what is regarded as good house dad in such a case. In stocks its more specifically defined. But in crypto it is not. So of course they will try to always say "you are not a good house dad".

>tfw it's cheaper just to pay the taxes than to fly to a tax-free zone
Being a coinlet is worse than being a manlet.

However unlike Americans you are free to trade between cryptocurrencies and make gainz. (Since no capital gainz tax) It is only seen as I come if you cash out and use it for stuff. Something can (obviously) not be not seen as income if you not actually make any income from it.

>if you just buy and hold as if its a long term investment you don't need to pay cap gain tax

What time period are they counting though?
Is it between the date of deposit into a crypto exchange and the date of withdrawal?

Or are they going to go over all the shitcoin trades you make after you first buy bitcoin?

>withdraw to bank account

youtube.com/watch?v=b_2Jh3gdCws

Wtf? That's exactly like germany.

However they see the trading of crypto or art as labour if done within a year. And a nice 45% income tax then applies.

Therefore I moved to switzerland. No cap gainz, but if you trade too much you might be billed as a professional (just like in belgium and the netherlands) and pay income taxes on your gains. 30-35% in switserland, 50% in belgium -netherlands. Will try to start a trading firm in switzerland, move some monies there and trade away with a 15% tax.

So be carefull belgian senpai's!

Sauce: belgian, living in switzerland working in germany who got paranoid from european tax rules.

I can't possibly be categorised as a profesional trader if I hold a full time other job too.

also I've read a shit ton of topics on belgians that had to go to court, who made millions on buying bitcoins in the early days.

all of them could keep their millions without paying any taxes.

Ho shit we good my Gallic bro. All those crypto gains will go straight to my cosy little belgian bank account while those muricans get raided by the IRS

So let's say that i trade a bunch of shitcoins this year and don't cash any of it out, granting me more btc in the long run, then i hold said amount of Bitcoin for a year or Longer, im not subject to any taxes?

Any sources? Belgians going to court...

I think you are yes.
Taxable event is the trading of shitcoins.
Wether you then trade it for Bitcoin, Euro or collosuscoin and hodl doesnt matter.

But i think you need to trade pretty often to be categorized as a pro.

If its a lot of money, go talk to an accountant that knows bitcoin a bit.

Im talking about less than a Bitcoin in Total, let's say i make trades like once a week

>Enjoying your shitty roads belg?

Dutchfag here, we have 1.2% tax on capital gains. Come here, unless you are non-white or non-Western, then you are not welcome.

Nah i'm from Antwerpen, last gf was dutch though. But I'd rather stay in my shithole for now

Is Antwerpen as shitty as people say it is? Like completely filled with Muslims and other colored trash?

I mean I am honestly not trying to be rude but I've been to Belgium/Antwerpen a couple of times and I always thought: Jesus fuck what a shithole.

And as a Dutch person we have obviously always been told that Belgium is lower tier NL. That being said, Amsterdam is a shithole as well, fucking tourist trap.

88M CV2 HODL TILL MOON

hey I have a shitcoin I created in 2014, I have like 10 million of them at this point. nobody else is mining them except me but how can I make this happen

Antwerpen is great dude, lots of bars, strip clubs, cheap and expensive food, whatever you like. You should visit some time, it's not as bad as people make it out to be. That being said, you'll notice our infrastructure is fucking shit tier compared to NL, that's probably what your friends noticed most of all. And yeah, we have lots of immigrants in big cities, but by staying in the nicer areas you generally avoid them anyway. Not very different from Rotterdam or Eindhoven in my opinion

Because its tethered to the dollar not btc. As for a technical answer idk.

Oh nice. Literally never spoke to an Antwerper regarding Antwerpen, always just heard it was shit from peeps who went there for a short period. Klinkt cool, thx user

My pleasure dude, I hope you visit some time! Just stay away from the pajeets and ahmeds trying to sell you cocaine in the back allys and you'll have a good time!

If I ever get crypto rich, I'm just gonna go see a financial advisor and ask what the best course of action is

No. OECD has forced every tax haven to comply with the automatic exchange of tax information. Meaning that the Singapore bank is required to report your funds to the country of which you are a citizen, for tax purposes.

What you need to do is open an offshore company in Panama, BVI, or states in which there is a low or zero tax. When you register this company, you pay a law firm a one-time fee of about $3000, and a yearly maintenance fee of about $1000. They'll then set up the company for you in the jurisdiction, and act as both Director and shareholders (to make it 100% anonymous). You will be given power of attorney so that you can manage the companies' funds.

When you've opened that company, you open a corporate bank account in states like Curaçao, Singapore, Hong Kong, etc.

There you go. You now have a company that is legally owned by a law firm in a nation with a 0% tax rate. You control all of the funds through POA.

This is how people with money do it.

Open this company... With Bitcoin?

Also, do you need a legit/nominal purpose for this business or does everyone there know the deal and just registering an LLC is fine?

Care to elaborate?

investopedia.com/terms/s/smurf.asp

>Open this company... With Bitcoin?

No, the lawyers won't accept Bitcoin... Liquidating $3000 of your BTC without alerting the tax authorities isn't fucking hard.

>do you need a legit/nominal purpose for this business
You always need to choose a category when registering the company, but it doesn't have to be legit. 99% of people who use this loophole register as holding or investment companies. Which is what it really is.

This

How many times are you going to ask this question? No it doesn't work like that. The only way to legally avoid taxes is to actually move to another country that doesn't tax crypto. Then you also need to make you are not tax resident in your own country because several western countries try to tax their citizens for years after they leave.

Now that you are tax resident and actually live in the new country, you can cash out to a bank account without having to pay tax

But how do you get the crypto that you already own into this company if the company doesn't do anything? How do you explain source of funds?

Cool, thanks for the tip

>Liquidating $3000 of your BTC without alerting the tax authorities isn't fucking hard.
go on...

>How do you explain source of funds?

You liquidate the BTC on an exchange or OTC exchange, you withdraw the money to your corporate bank account. The annual reporting to the government where your company is located is nothing like in the US or Europe. It's 1 fucking page, and the law firm takes care of that. They write down the amount you've made, and they attribute it to investments.

That fucking easy. There's no need to hide when the government in which your company is placed has a 0% capital gains/income tax.

>There's no need to hide when

Obviously don't be a dumbass and attribute your annual profits to drug dealing if that's what you do. If you start a holding/investment company, they'll expect you to make money through investments. Cryptocurrencies are an investment.

That one's so easy I'm going to let you figure it out yourself.

Tax havens, OECD rules and bank secrecy laws on the other hand, I can understand people need a little bit of help with.

Do you need to physically go to the country to do this?

>That one's so easy I'm going to let you figure it out yourself.
No really. It has to go to a bank account in your name, so what's the dealeeoh.

Not to open the company. But recently stricter KYC/AML were imposed on banks by OECD, so you'll be required to be present when you open a bank account in say Curaçao, Hong Kong or Singapore.

Also, make sure to research which banks allows for someone with a POA to open the account on behalf of the company, and which banks require the CEO and/or one shareholder to be present. It's like a 50/50, and easy to get burnt.

And be vary of the law firms you'll find through Google that are offering offshore company registration. Do your due dilligence. Some of them suck ass.

Anything under $10k at once isn't a red flag