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Author Topic: Countries with best BTC taxes & regulations for individuals (not companies)  (Read 574 times)
Rafael101
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November 07, 2017, 11:51:35 AM
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With ever increasing BTC prices, where can BTC holders move to minimize taxes? I'm confused by many of the tax laws that I'm reading about. It seems like clear rules have yet to emerge in many countries. Some countries have a wealth tax, which means that you must sell a certain amount of your BTC every year, which is regrettable. I think one should try to avoid these countries at least. But other than that, it is only the capital gains tax that is relevant?
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November 08, 2017, 01:39:32 PM
 #2

With ever increasing BTC prices, where can BTC holders move to minimize taxes? I'm confused by many of the tax laws that I'm reading about. It seems like clear rules have yet to emerge in many countries. Some countries have a wealth tax, which means that you must sell a certain amount of your BTC every year, which is regrettable. I think one should try to avoid these countries at least. But other than that, it is only the capital gains tax that is relevant?

Generally speaking, taxes can be levied on people who are converting their Bitcoin to fiat money or physical cash and then maybe their can be some sales tax if you are using Bitcoin to buy something either online or offline. It is just natural that each country and location will have different types of tax and amount or rates can very much vary from place to place. We really have no choice but to pay the tax which is imposed by the government as the sovereign power is exercised by the government

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November 09, 2017, 04:07:37 PM
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The state may have a claim only in the case if you change bitcoin to Fiat. If you store bitcoin there are no taxes to be paid. It seems to me that if it is possible to spend bitcoins in the online store the state will not qualify for taxes. But you need to bitcoin has been upgraded. Due to the fact that segwit2x postponed indefinitely we will not soon see the opportunity.

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November 09, 2017, 05:40:39 PM
 #4

With ever increasing BTC prices, where can BTC holders move to minimize taxes? I'm confused by many of the tax laws that I'm reading about. It seems like clear rules have yet to emerge in many countries. Some countries have a wealth tax, which means that you must sell a certain amount of your BTC every year, which is regrettable. I think one should try to avoid these countries at least. But other than that, it is only the capital gains tax that is relevant?

So, basically you want a country that doesn't tax your coins at all. Most countries don't. For instance in the whole European Union you aren't taxed for holding your coins, the tax obligation appears the moment you sell for fiat.
Next are countries with low income tax like Bulgaria with only 10% flat rate, or Qatar with 0% income tax. There are more similar countries where income tax is at 10% or less, which seems reasonable. I wouldn't mind paying that.
There are also countries where you can easily sell your coins due to some regulations. Like in Germany, where coins kept for more than a year are tax free. In GB it's also nice as there's a certain amount of money you can withdraw from your investment every year that is tax free.

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November 09, 2017, 09:12:02 PM
 #5

First bitcoin only pay fee not taxes . second it is depend on network and no one can control with it
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November 09, 2017, 09:16:17 PM
 #6

First bitcoin only pay fee not taxes . second it is depend on network and no one can control with it

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November 11, 2017, 03:37:59 PM
 #7

The best country for bitcoin users those who did not react to his existence. In fact, these countries are still very much. The less the government will intervene in the turnover of the more popular bitcoin will be the currency. I don't understand users who are happy about the government intervention in the revolution of cryptocurrency. I think it's contrary to the idea of cryptocurrency.
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November 11, 2017, 04:54:03 PM
 #8

With ever increasing BTC prices, where can BTC holders move to minimize taxes? I'm confused by many of the tax laws that I'm reading about. It seems like clear rules have yet to emerge in many countries. Some countries have a wealth tax, which means that you must sell a certain amount of your BTC every year, which is regrettable. I think one should try to avoid these countries at least. But other than that, it is only the capital gains tax that is relevant?
If you can afford to move into another side of the world just to evade tax on your bitcoin then just proceed but come to think off that this thing would really be more expensive than on paying up taxes. They cant really impose taxation directly on bitcoin which they would normally target on those service than do make use of it.I would not be surprised if they would do such thing knowing that government wont really allow any of its citizens wont pay up tax which is really beneficial in the development and growth of the economy of a certain country specially if the one who manage or handle isn't corrupt.


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November 15, 2017, 04:39:48 PM
 #9

The state may have a claim only in the case if you change bitcoin to Fiat. If you store bitcoin there are no taxes to be paid. It seems to me that if it is possible to spend bitcoins in the online store the state will not qualify for taxes. But you need to bitcoin has been upgraded. Due to the fact that segwit2x postponed indefinitely we will not soon see the opportunity.

Yes, you can be correct. However, in cases where we use Bitcoin to buy anything, there can be sales tax either in addition to the price or the tax is already embedded within the price. We have to remember that some tax maybe invisible to our eyes but it is there and in many cases it is the seller or merchants which are required to be reporting and paying them. I am lucky enough because I am in a country where the government is not that so strict in dealing with small fishes on the pond.

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November 15, 2017, 05:04:11 PM
 #10

Depends how long you've been holding your btc and how actively you trade. In the EU Germany has zero capital gains if you sell after holding for a year. Capital gains the Netherlands is very low as well.

If it's regarded as income then it's going to be more work no matter where you are.

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November 15, 2017, 08:17:32 PM
 #11

Don't think about BTC.
Selling properties, stocks or cryptocurrencies are mostly the same to the taxman: they're capital gains, taxed pretty much all the same, besides your family home.
The best BTC countries are tax havens (think small islands...).
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November 15, 2017, 10:04:12 PM
 #12

In Slovenia you have for individuals capital gains form crypto coins taxed with 0 tax. the same as gold... You only have to prove, how you bought/got coins ...

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November 16, 2017, 12:00:53 AM
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What are the worst countries for bitcoin taxes?
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