Any Belgian Veeky Forums bros want to illuminate me on your country's tax code when it comes to crypto? Thinking of moving there to escape Scandicuck tax rates, but it would seem like contrary to the notion of Belgium as a 0CGT country, speculation (this includes crypto) is taxed at a 33% rate?
What's the truth user? If I move to Belgium and cash out, will or will I not be taxed up the ass?
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not taxes yet ( I think ) but it's probably comming
UK is max 20%, the first £11,300 is 0%.
think 0% under 20k
You Belgian? Did you cash anything out? I'm thinking of pulling something like 500k out of crypto by June, so as long as there's no legislation until then, I should be fine?
It's simple in theory but can get difficult if the tax man smells an opportunity.
Basically there's 3 options:
1. You bought once and sold once, hodling over a considerable period of time, then you simply managed your money like a good house father would and you pay 0% taxes.
2. You were active. You traded a bit and tried to speculate. You reacted to the market and made multiple conversions over a small period of time. Then it's filed as "other income" and taxed at 33%.
3. You pretty much turned crypto into your job. Trading almost daily. Spending a ton of time on the market. You get what I'm saying. Then crypto can be considered your "side-job" and will taxed at 50%.
yes I am but since i do not plan to pay any taxes i have no idea
but I heard nothing so far
but knowing this socialist hell-hole it's coming for sure
How can they prove you've not been a good house father?
33% on gains for traders. (most of us)
Longterm hodlers 0% taxes (who don't trade, just buy and hodl)
33 to 50% tax according to how much work you put into it and what your other income are.
33 for students regardless I think.
You let Akmed and Youseff fuck your daughters and wife, dog too.
If they do audit you, you will have to show your exchange records. If you refuse you will be taxed at 50% AND you'll get a fee.
You will be considered guilty until you prove you're not. Are you willing to take that risk?
It's not that hard to proof, they Will probably see that you bought for example 1 Bitcoin, but when you cashed out you suddenly had 50 Bitcoin to sell
50% holy fuck. 18% in Merica, fuck the socialists, hands off my gibs!
sounds pretty shitty... what is "considerable period of time"?
yes i'm not planing to stay in this shithole
well no... I'm not. So where do I go then? Same thing in the Netherlands? Not going to some fucking south-east asian shithole to hide from the tax man. I have my dignity.
For stocks its 3 months.
Hmm so my LINK and REQ gainz qualify for 0%. Nice.
I'm not paying shit, that's for sure. I'm still accumulating so for now I'll google around to see how others do it in this country.
My plan is to dump it in a stable coin (probably eth) and cash out a few 100 a month to pay my mortgage. Or move to some shithole for a year. We'll see
I'm pretty sure all EU banks communicate your holdings to your countries government. Even Switzerland is forced to do this nowadays.
I don't know what to do myself, but I don't think any EU country is safe. I'm probably just going to pay my taxes. At least in Belgium you know they're being used right (healthcare, education, ...).
Yeah dude just fund Achmed and Fatima their 7th kid.
just pay taxes fags.
we're rich enough already
no.
File under diverse income at 33% or move the fk out.
I agree. These other fags are narrow minded.
In the netherlands you pay like 100-200eur for health insure PER MONTH. Similar in UK, Germany, France, ...
In Belgium we pay 25eur per month. Also the government has funded my entire PhD program for 6 years. Thats like 150k euros. I have many friends that would never have been able to get their bachelor/masters degree if the government hadnt given them the scholarships they needed.
Noone likes paying taxes, but at least they go to places that benefit the country and not to corrupt people.
Belgian here, from what I understand "speculation" refers to regular trading, and is indeed taxed at 33% or something.
If the courts see your investments as your main source of professional income it's even 45% or thereabouts.
But if you invest in a manner described as "like a good housefather" (i.e. as a prudent person), you get taxed 0%.
The way this is defined is pretty blurry, but people seem to agree that not touching your investments for at least one year puts you in that category.
An anecdote: a Belgian student recently received a court ruling ordering him to pay 33% on his crypto earnings because he used a trading bot.
Yeah, I have to confess I'm a bad student. I try but I'm not model student. I will probably have spend 7 years to get my master's in Law but even so it will only have cost me like 7k in school fees and books. Not to mention my parents still get government support because I qualify as a child due to being in college.
Can't really shit on that. I can't at least.
Netherlands
>Capital gains generally are exempt from tax. However, exceptions apply to the following assets: • Capital gains realised on the disposal of business assets (including real estate) and on the disposal of other assets that qualify as income from independently performed activities • Capital gains on liquidation of a company • Capital gains derived from the sale of a substantial interest in a company (that is, 5% of the issued share capital
How about this?
Actually it's 25eur per YEAR. Mistyped.
>"like a good housefather" (i.e. as a prudent person
top kek, what the fuck kind of a government do you guys have?
This refers to "speculation". It's literally stated in the article, and the court ruling on which the article based refers to that student who was running a trading bot (i.e. clear speculation).
If you don't touch your investments for like a year, it counts as "investing as a good housefather" and gets taxed 0%.
Pretty sure it's 6 months following a LIFO train of thought
yes muricatards might have less taxation they sure as hell have other problems.
33% is alot but it's not like you're not getting anything in return
no fuck you i'm not making money to raise achmed and Abdul kids
it's a figure of speech, it just doesn't translate well to english.
What they mean is, "if you make a sensible long term investment like any normal person would do (e.g. saving account, long term stock funds, ...) you pay no taxes".
It's a manner of speech. Like "act of god".
The point is that an average person should be able to park his fiat somewhere other than a savings account without getting penalized.
And the legislators seem to think speculation is not part of what the average person has time for.
I just cashed out 5k through coinbase to my bank account, pretty sure that stays under the radar
then move elsewhere. Bye bye
What if I day trade and hold other things for long term? Can they tax my investments because I speculated on others?
yeah that's the plan