Best EU country to tax profit on crypto currency trading

[patt0]

I really think it doesn't work like that. If you want to use your money, it doesn't matter where you have deposited it. You will have to declare it, tell where it came from and pay your taxes. So the only regulations you need to care about, are the ones of the country you are in, and want to spend your money. I'm not an expert of course, but I really think that's the way it works. I don't know where you are from, but from what I know, most countries in Europe still don't have any well defined laws about bitcoin, so if you keep it low you don't have to declare anything. If you normally go over 10K or 15K, then you will have to explain where that money came form, and you will pay taxes.

[Crypto458]

Hi,

I got an idea and would like to think out loud.
Did anybody try to withdraw money through visa bitcoin card? Now there are many visa cards that are linked to your wallet and you can withdraw or buy with this cards.
So if someone lives near the border in EU and can travel to next county to him and withdraw from ATM machine, is it possible for his local tax authorities to detect him?

[wxa7115]

I also would be interested on different taxes on bitcoin profits.

But the thing you described should be impossible. It does not matter where you withdraw your profits to.
You have to pay taxes in that country, where you lived at the moment you sold your GNT (so made the profit)

Correct, taxes are supposed to be paid on the place you live, unless you create a corporation in another country and the profits belong to that company so if you want to pay taxes in a country with lower taxes you will need to move out, that is why many people do not bother to do all of that since the profits they could get are not that great to make that big change in their lives.

Bingo.

Jeff just posted about this issue @ https://www.youtube.com/watch?v=aM-Mmxm0OEQ&feature=em-uploademail
Like he and me are saying comes down to point 5 in the end. Like I've said, all the work and risks by registrering your corporation in a foreign country for the very tiny time being is just plain dumb, especially when you are a EU citizen trying to escape taxes to another EU country. You cannot win in the same system... that's the point. Since the inception of the EU, sovereign nation states were already transferring power to the EU and it's still going on, brexit or not and eventually, every EU country will have the same laws. It's certainly no coincidence that one law in the USA is also at the same time being passed in the EU and Australia, got my drift? You want to win? You move out completely overseas with the most corrupt or small government or suffer like the rest, because there will be a time when the barbarians are kept lose on those that do have something vs those that don't own anything and that's by design (i.e. socialism, the never ending wars on anything (wages, gender, race, income, etc.)). Why do you think muggers and thugs are always operating in their own neighborhood and never go to the richer places and nothing is done about it. The western world is already socialized/domesticated, at least you can own and use guns in the US, because if you own one here in the Netherlands and use it for your defense, you go to jail, even when you defend your life and this has happened and was widely reported on the msm. Criminals always win in this system.

"Criminals always win in this system"

Nope. I get what you are saying, but criminals never win in the end. Everything we do in life comes back around, unless you ask forgiveness and are forgiven. Someone who sends their money offshore to avoid taxes... they will not win in the end. It is just how it works.

As long as what you are doing is legal then you should not get in trouble by having an offshore corporation, some countries still need that you report all your income even if it is earned overseas and if you do and your company is structured properly then you are fine, the problem is that many people are doing illegal stuff with those companies and that is why many people think that those that do that are criminals.

[peeticek]

Slovakia is a country you don't pay any tax for bitcoin withdrawals. I've lived there 4 years and bitcoin is seemed very legal by the government authorities.

False, you pay 19-25% income tax + 14% healthcare tax..

33-39% in total.. stay away from Slovakia..

[lifetimebitcoins]

Malta is best EU country to get tax profit from cryptocurrency most of the exchangers ico company are lining up for Malta and Malta and Gibraltar both the country want to become world destination for blockchain asset

[freigeist]

Malta is best EU country to get tax profit from cryptocurrency most of the exchangers ico company are lining up for Malta and Malta and Gibraltar both the country want to become world destination for blockchain asset

Is this related only to legal entities (companies) or also physical persons?

[gtell]

Slovenia has 0% tax on Forex trading, and that covers Bitcoin too.

Can someone confirm this?
Thanks.

[yayat]

I think that taxes for traders are hard to stress because they do not have a name on the state tax board.

Slightly different from the Exchange who set up the company in a country where the Exchange is registered to be imposed on its income tax.

its simple like this:
Trader = tax free
Exchange = taxable

[freigeist]

I think that taxes for traders are hard to stress because they do not have a name on the state tax board.

Slightly different from the Exchange who set up the company in a country where the Exchange is registered to be imposed on its income tax.

its simple like this:
Trader = tax free
Exchange = taxable

Trader will be tax free only if the country of residence does not require the person to pay the tax
or if he manages to escape from tax authority by legal of illegal means

Traders are "legal persons" and are usually liable on income tax in country of residence.

[smeden]

Portugal 0% on BTC as an individual. (For now)

Or.

Get a company in Antigua and move your address to antigua too. Only need to stay in Antigua for 7 days a year to go under there tax system. Thats 0% and no accounting.
This will be good for a PP.
Get a Barclays bank account for your company and your ready to roll.

All legit and tested. Just dont stay in your own country for more than 6 month a year.(EU country). And dont own anyting in your home country. You can own a summerhouse,

[Diced90]

Malta is best EU country to get tax profit from cryptocurrency most of the exchangers ico company are lining up for Malta and Malta and Gibraltar both the country want to become world destination for blockchain asset

I've only so far heard of those too, so I suppose they could be running up your candidate list to check for sure if that's the case, because I've not had to research into that thoroughly.

[kassad1]

Anyone interested in this, might want to check out the solution discussed here:

https://bitcointalk.org/index.php?topic=5080391.0