/int/ biz

except for losing 1.2% or so of your net-worth each year :^)
heaven to gather up crypto, not so much to hold it

Might be something that only gets posted in the polish language

What's Polish for "crypto ban"?

1.2% is fucking heaven compared to the US

Only if you already have 25k in fiat, it's pretty easy to get around.

so their prime minister says it and absolutely no polish-speaking person shares it with any english speaking outlet? i'm not buying that.

REALLY? wow didn't know. brb moving to holand

Go to moortugal and collect 200 ETH.

as far as I know Poland won't ban crypto... if you want to cash out in Poland, open a business (crypto related) and pay only 19% tax no matter how much you cash out...

Not just 25k, 25k net worth I believe. So student debt is deductible. My current networth is -30k. I have ~4k in crypto. Will be a while before I'm paying them anything

>25k in fiat
>25k net worth

which one tho

tho it must be p complex to buy anything worth more than 25K if you can't hold that much money. or you just can't hold 25K worth of fiat on dec 31 midnight? that's all you need to do to not get the 1.2% net-worth tax?

Oh BTW, where it may be pretty chill is Estonia, they were interested in bringing e-citizens with crypto but EU said fuck you the only coin is the euro. I don't know, look into that if you want.

Sorry for confusing you lads. It's all currencies basically. For example I own a house and some land, but this doesn't count towards this meme law. Only my money in the bank they know of and the cryptos I should declare myself. Which together is 20k for me, so I paid 0.

Also for cryptos you should be reporting the value of the token at Jan 1 of the year you're doing your taxes for. So I had a load of XRP during the year, which was almost nothing at Jan 1 2017, so I had almost nothing to declare (this year).

To add to that, you pay 1.2% of the part _above_ the 25k. So if you have 26k, you pay 12 euros.

well then my point stands.
it's no heaven for people who are already crypto-millionaires, only for aspiring ones.

t. Alberto Barbosa

altho wondering if you can loophole it with some smart contract (e.g. one that takes all your ETH, then gives back one-by-one to you a week later with a chance of 2^234523452345 to 1, therefore there's a mathematical chance that you actually aren't gonna get back anything, so your potential net-worth at the moment your money is in the smart-contract is 0)

Many companies are or have been based in the Netherlands for easy taxes (Google, Facebook). I'm sure with some legal advice and setting up the proper company structures you'll be paying almost 0 taxes. You'd need a fuckload of money for it to be worth the hassle, but it's possible.

I wonder how they will handle this in the future... They probably have no fucking clue either.

Sweden. 30% tax on gains for all trades (including crypto to crypto), but losses are also deductible. And you don't pay any extra tax for "cashing out". You can also basically upload a spreadsheet with your transactions if you want, so it's somewhat OK.

Some people say that banks will shut you down if they know you deal with crypto, but I think they are just autists walking in with bags of cash and a fedora or something.