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Title: tax question Post by: gustav on March 31, 2014, 09:41:36 AM If i happen to live near a border can i not just cross that border to the neighboring country, get 10k$ for btc (or what ever crossborderlimit is) in the other country and then return back to homeland? Since i am not citizen of the other country and don't live or work there and on the other hand the realisation of gains did not occur inside homeland would i have to pay taxes? To whom? What taxes?
Title: Re: tax question Post by: hilariousandco on March 31, 2014, 01:37:18 PM If i happen to live near a border can i not just cross that border to the neighboring country, get 10k$ for btc (or what ever crossborderlimit is) in the other country and then return back to homeland? Since i am not citizen of the other country and don't live or work there and on the other hand the realisation of gains did not occur inside homeland would i have to pay taxes? To whom? What taxes? If you're a resident of a country you'll be eligible for taxes to that country regardless or crossing borders for deals). Obviously different places have different laws, but legally you'll still have to pay tax if it's over the taxable threshold (like capital gains etc). Title: Re: tax question Post by: gustav on March 31, 2014, 01:44:42 PM If i happen to live near a border can i not just cross that border to the neighboring country, get 10k$ for btc (or what ever crossborderlimit is) in the other country and then return back to homeland? Since i am not citizen of the other country and don't live or work there and on the other hand the realisation of gains did not occur inside homeland would i have to pay taxes? To whom? What taxes? If you're a resident of a country you'll be eligible for taxes to that country regardless or crossing borders for deals). Obviously different places have different laws, but legally you'll still have to pay tax if it's over the taxable threshold (like capital gains etc). may sound stupid but is it possible to not be a resident of any state? For example: homeless :P i guess i have to buy a ship then and move to international waters to do exchanges on the open sea ... harr, harr ;D lol ... too much coffee ... Title: Re: tax question Post by: hilariousandco on March 31, 2014, 02:06:06 PM If i happen to live near a border can i not just cross that border to the neighboring country, get 10k$ for btc (or what ever crossborderlimit is) in the other country and then return back to homeland? Since i am not citizen of the other country and don't live or work there and on the other hand the realisation of gains did not occur inside homeland would i have to pay taxes? To whom? What taxes? If you're a resident of a country you'll be eligible for taxes to that country regardless or crossing borders for deals). Obviously different places have different laws, but legally you'll still have to pay tax if it's over the taxable threshold (like capital gains etc). may sound stupid but is it possible to not be a resident of any state? For example: homeless :P i guess i have to buy a ship then and move to international waters to do exchanges on the open sea ... harr, harr ;D lol ... too much coffee ... You can renounce citizenship, yes, but being homeless doesn't make you stateless though. Title: Re: tax question Post by: gustav on March 31, 2014, 02:14:03 PM yeah, vampires need to suck blood. That is just the way it is i guess.
Other question: who can i turn to when bitcoin fails and my investement goes to zero over night? Will they help me out? I don't think it can be taxed at all at this stage since i can not be insured against total losses right now. That is also the case in some states. Forgot which ones though. But since you are not insured (can not be) and you are bearing a very high risk of total loss where you can turn nowhere when it occurs that gains is/should also not be taxable due to extremely high risk of total loss with no possible insurance. Title: Re: tax question Post by: hilariousandco on March 31, 2014, 02:17:35 PM yeah, vampires need to suck blood. That is just the way it is i guess. Other question: who can i turn to when bitcoin fails and my investement goes to zero over night? No one. I wouldn't put all your money in Bitcoin or one investment though. Title: Re: tax question Post by: gustav on March 31, 2014, 02:19:49 PM yeah, vampires need to suck blood. That is just the way it is i guess. Other question: who can i turn to when bitcoin fails and my investement goes to zero over night? No one. I wouldn't put all your money in Bitcoin or one investment though. so taxation for gambling would apply not incometaxes also no capitalgain taxes since no insurance is possible - it is then pure gambling and should only be taxed as such. Title: Re: tax question Post by: zhaojinqqq on March 31, 2014, 11:11:51 PM If i happen to live near a border can i not just cross that border to the neighboring country, get 10k$ for btc (or what ever crossborderlimit is) in the other country and then return back to homeland? Since i am not citizen of the other country and don't live or work there and on the other hand the realisation of gains did not occur inside homeland would i have to pay taxes? To whom? What taxes? If you're a resident of a country you'll be eligible for taxes to that country regardless or crossing borders for deals). Obviously different places have different laws, but legally you'll still have to pay tax if it's over the taxable threshold (like capital gains etc). may sound stupid but is it possible to not be a resident of any state? For example: homeless :P i guess i have to buy a ship then and move to international waters to do exchanges on the open sea ... harr, harr ;D lol ... too much coffee ... Title: Re: tax question Post by: gustav on April 01, 2014, 01:20:32 AM I am considering to buy a rocket/space ship and exchange on the universe hahah i would definately be interested. Could we offer taxfree services for others hosted from space? After all this might be possible when a lot of money can be made with an exchange in space. Such a thing could actually be crowdfunded if it really brings advantages. Not really joking here. Could be a buisinessmodel. |