Tfw all of my bags have mooned hard towards Jan 1st and it turns out I have to pay the tax authority around 100k euro...

tfw all of my bags have mooned hard towards Jan 1st and it turns out I have to pay the tax authority around 100k euro because of their socialist wealth tax system and I'm not even Dutch
how do I escape this hell?

localbitcoins.com

Capital gains are taxed at 1.4% in the Netherlands. 100k is 1.4% of your stack, you have no reason to complain...

1,4% tax is nothing you greedy fuck.

1.4% wtf?! It's 34.5% here in the cucked country that is Australia.

shut up nigger, the netherlands has the best tax laws on crypto. only portugal is better. you're privileged. someone's gotta pay for our roads and health system and if you are too greedy to put 1,4% of your gains towards general good then you deserve to be poor.

>A whopping 1.4%
Jesus christ dude stop being a little bitch. The rest of us have to pay our shit while cashing out those amounts

True but that 1.4% is charges whether you have earned any more money or not. It is not 1.4% of your gains it is 1.4% of your STACK. Pretty fucked up With low interest dates desu

Is it a one time thing only, or will you have to pay said tax for the rest of your life?

It's over your entire wealth/holdings, so as long as you have wealth you'll have to pay tax over it.

It is taxed yearly on the capital you have above €25k (or €42k for a household). There are so many things you can do to lower your capital and prevent the tax- pay off your house, your student loan, gift tax free to relatives etc. if you have done all that and payed of your entire mortgage and still have sufficient funds you really need to stop bitching, man up and pay a 1.4% (oh no muh gains) tax. So pay the fuck up or get the fuck out of my country

you post an add on FB offering to sell BTC you fucking idiot. Like this shit was designed for. God you are fucking dumb.

you pay 1.4% yearly (30% of an expected 3-4% gains). 1.4% is like one day in crypto if youre not managing your wealth like a negro-jew

what are you talking about? how would that help?

>gift tax free to relatives
can you really do that? what's the procedure do you just give them your private key or send it over to their wallet?

If you are too fucking stupid to understand I cant help you

are you an idiot? selling your BTC OTC won't help you for shit. you don't lose your net wealth by selling, you just convert it to a different asset (cash) which has to be declared.
if you don't you might as well be committing tax fraud

>actually cashing out in Australia
It's why we have Hong Kong friendo

How the fuck would the ATO know you have bitcoin or crypto?

My man i setup a hk company and bank account 2yrs ago for this exact reason.

It's 1,67%, first 25k profit no taxes, 100k taxes my ass. Everything in this country is verkankerd, except for crypto taxes

Kut verhaal.

You pay like 1,2% over what you owned and valued at 1 jan 2017.

i give you a hint, luxembourg is not far away from nl...

So it won't even be until april 2019 that you have to pay over what you earned this year.

>Decide you're ready to cash out
>Go to Hong Kong and open a bank account
>Cash out into your HK bank account
>Transfer to your Australian bank account
Is there any reason this wouldn't work?
I did do tax law and remember learning a bit about tax residency and international tax law. At least you might have to spend a year in Hong Kong lest Canberra takes what HK didn't. But I'm not expert

>Why does this NEET's bank balance go from $500 to a million in 1 year?
Also I'm pretty sure exchanges track your transactions, and the government can get your info from them

Move to Slovenia
0% tax

Do a Google Image search of "Slovenia"

It's much better than you expect it to be

OP's story can only be true if he had like 9 million euros on the first of januari in 2017.

Your gains are entirely irrelevant in the Netherlands.

alo kako nj js dvignem brez davka crypto gainse?

Ik ga na nederland verhuizen in the volgende paar maanded, zal ik wachte om uittecashen? Nu in VS, veel hoger dan 1,67%...

Does trading count as capital gain to quality for 1.67 though?

Gehaktbal

The Dutch system works on fictional gains.

First you substract 25k from your money (which is your savings, stocks and cryptos minus your outstanding debts).
Then the government assumed you made a fictional amount of profit.
On the first 75k you made 2,8% profit, then until 975k you made 4,6% profit and for everything above that you made 5,4% profit.
You pay 30% capital gains taxes over that.

In april 2018 you pay over what you owned on 1 jan 2017 and valued at 1 jan 2017.
On april 2019 you pay over what you owned 1 jan 2018. And so on.
So if you cashed out during the year and put the money under your bed you pay nothing at all.

zeker wachten

>So if you cashed out during the year and put the money under your bed you pay nothing at all.
Well, technically you should have spend the money during the year if you don't want to pay taxes over it.

If you are a US citizen don't you need to pay taxes to the IRS regardless of where you live?

his situation is exactly the opposite

Hello policemen

koop stroopwafels broer

...

you're shitting me right? you're telling me I have to pay a cool $1m ?
bullshit, Ill take my gains to Switzerland

depends, are you worth 50m?
even if so you can't run away at this point because you were still a tax resident on Jan 1st and therefore still owe that tax to NL no matter where you decide to move

also what on earth makes you think you won't have to pay taxes in switzerland?

>mfw 62% taxes in france.
can't wait to be back to the nl.

how will they know you own cryptocurrency?

What if I just sent it to a nano ledger S and just "lose" my wallet and then in a couple of years "find" my wallet. What would taxes do?

when you cash out faggot.

Fund the terrorists, what a great country.

fuck this shithole, i'm out soon anyway.

no, you move to another country, or start a business/shell company there and do all of your shit through it.

only america and a couple of of other shitty countries have laws about you owing money regardless of where it is/how you made it.

the most important thing you can do if you're european is to make sure you pay as little tax as possible, and if you do, that it's mostly out of the reach of european governments, with the exception of some eastern european countries, and those little islands the uk has that people launder money through.

Yeah, but the guy mentioned leaving the country. If he plans on going back and bringing the money with him then yes it would be an issue.