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Author Topic: Withdrawing 40,000EUR..  (Read 584 times)
MinerLT
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February 11, 2017, 08:41:20 AM
 #1

This is it , all my bitcoins are sold and all money in n26.com , i have debit card from them, and withdraws will start soon. card is issued in Germany, i live in Latvia

The thing is that i don't want to send all the money to Latvian bank account because i will have to pay tax, (income tax) (declaration) ........

But what will happen when i withdrawing from Latvian bank ATM , ~3000EUR, every singe day. What ATM can "see" ?? can Latvian bank get my identity trough other country issued debit card ?

How to hide that amount of money from Latvian tax ?

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MinerLT
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February 12, 2017, 06:58:22 PM
 #2

anyone ?

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February 12, 2017, 07:28:34 PM
 #3

I would go to another country, and withdraw it all if possible. However withdraw something like 100€ a day in your city each time at a different ATM.

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February 13, 2017, 03:02:26 AM
 #4

Perhaps speak to an accountant who is familiar with taxes in your country? I think you will get a much better answer than you will from the Off-Topic section of bitcointalk.org
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February 13, 2017, 11:31:31 PM
 #5

This is it , all my bitcoins are sold and all money in n26.com , i have debit card from them, and withdraws will start soon. card is issued in Germany, i live in Latvia

The thing is that i don't want to send all the money to Latvian bank account because i will have to pay tax, (income tax) (declaration) ........

But what will happen when i withdrawing from Latvian bank ATM , ~3000EUR, every singe day. What ATM can "see" ?? can Latvian bank get my identity trough other country issued debit card ?

How to hide that amount of money from Latvian tax ?

Hello,

You should have sold your bitcoins for cash or ordered anonymous bitcoin atm cards, this way you would have been 100% safe from taxes. However,  chances are pretty slim that they will find out about your money in a offshore bank if you withdrawel by atm only. Long as you dont get arrested with the germany card and they enquire the bank.

[̲̅$̲̅(̲̅ ͡° ͜ʖ ͡°̲̅)̲̅$̲̅] From time to time i exchange e-currencies/trade like Skrill>Paypal>Remittances>Pokerstars>Amazon GC>PaySafecard to Bitcoin. [̲̅$̲̅(̲̅ ͡° ͜ʖ ͡°̲̅)̲̅$̲̅]
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February 13, 2017, 11:42:22 PM
 #6

I would go to another country, and withdraw it all if possible. However withdraw something like 100€ a day in your city each time at a different ATM.
This, you need to withdraw your funds from different ATM at different times and if possible try to disguise yourself since almost all the ATMs have cameras.

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February 14, 2017, 01:10:25 AM
 #7

pay the tax and get on with your life? where and how are you gonna be able to spend 40 grand in cash anyway in this day and age?

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February 14, 2017, 08:58:43 AM
 #8

pay the tax and get on with your life? where and how are you gonna be able to spend 40 grand in cash anyway in this day and age?

He can by buying a car. Car dealerships offer such offers where you pay 50% in cash and the rest you pay with rates. Your advice though is the best, when his country is a rich one so no need to evade law.

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February 14, 2017, 09:02:16 AM
 #9

I would go to another country, and withdraw it all if possible. However withdraw something like 100€ a day in your city each time at a different ATM.
This is the dumbest thing you can do ,there is money laundering law and you cannot carry huge amount of money with you if you are traveling international borders ,the best way is to pay your taxes and life a happy life rather than taking a big risk.Are you a miner to have this much amount of money through bitcoin.
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February 14, 2017, 11:24:08 AM
 #10

This is really tricky thing, in my country you dont pay for 10000 EUR a year tax (this is for additional income like this), heard that in Hungary is 15000 Eur and in Swiss is 15000 franks and really dont know how is on rest of Europe.

Bad idea is to withdrawal 100 eur from each ATM then you will suspicious, best check this information then chose what to do.



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February 14, 2017, 01:36:58 PM
 #11

This is it , all my bitcoins are sold and all money in n26.com , i have debit card from them, and withdraws will start soon. card is issued in Germany, i live in Latvia

The thing is that i don't want to send all the money to Latvian bank account because i will have to pay tax, (income tax) (declaration) ........

But what will happen when i withdrawing from Latvian bank ATM , ~3000EUR, every singe day. What ATM can "see" ?? can Latvian bank get my identity trough other country issued debit card ?

How to hide that amount of money from Latvian tax ?

Pay the taxes, you will sleep better at night.
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February 14, 2017, 02:10:44 PM
 #12

But what will happen when i withdrawing from Latvian bank ATM , ~3000EUR, every singe day. What ATM can "see" ?? can Latvian bank get my identity trough other country issued debit card ?

Since you have your name on the card, hmm.. it's tricky. (The anonymous cards have very low limits so I assume it's not anonymous).
So if somebody starts checking, he will find your name. Of course, this happens only if somebody checks, else it will go unnoticed in the sea of transactions. Of course, I advice to use the card for everyday payments if possible. Big amounts attract more eyes.

One more thing: are you sure that n26 or your exchange don't send your info to latvian IRS?


The best option you would have had is BTM. Now, my advice is the same: paying the taxes would make your sleep easier.

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February 15, 2017, 05:30:58 AM
 #13

Buy Bitcoin again and try to sell them on LocalBitcoins for cash. Alternatively, you have companies in some Eastern European countries where you can sell your Bitcoins for cash.
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