How do I avoid tax on crypto

[Darkfall]

Is there a Dutch thread on this subject? Because I read a little bit on the dutch tax system, from what I understand, it's pretty relaxed 

you may check local boards
good for you if your tax system is a bit relax on crypto profits, most 1st world countries have a serious law on taxation when it comes to crypto market because they notice a large number of people getting a good wealth in the past years.

The Dutch system is kinda crazy (but in a good way for us). If you're doing taxes (Netherlands only) then you need to add it under the 'Capital section' but the 'best' (insane in the crypto world) part is that they are only interested in the value of the crypto as of January the 1st of that tax year, which can lead to some pretty funny/crazy situations. You can read more here.

That said, I have heard whispers that they are going to change and adapt this in the near future, but whether that happens or not is something these.

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[Bessta]

Paying taxes on income from ceyptocurrencies means cryptos are legal and government accepts  cryptos as legal tender and  Governments  have established rules and guidelines about cryptos and therefore you are secured to invest. So i don't think  one should avoid paying  taxes on cryptos.

[marcbitcoins]

If I make money on crypto currencies. How do I avoid as much tax as possible?

If Bitcoin is legal in your country then it is impossible for you to avoid paying Bitcoin tax because of regulation in which the tax will be collected in your local exchanges that every time you convert your Bitcoin to your local paper money it will be subject for Bitcoin tax which is really unavoidable because every local exchanges are oblige to submit every Bitcoin transaction as per regulation policy. Except if Bitcoin is not legal and not ban like in our country then for sure you will going to enjoy earning Bitcoin without tax.

[vessing]

In the legislation of Great Britain, a loophole was discovered that allows crypto-investors to classify crypto-currency profits as "income from gambling". Having declared their income as a "gambling winnings", the British can not pay any taxes.

[TianaStam]

I suppose the government will not push micro earners to pay taxes from crypto profit. So if you are one of them you have nothing to worry about. I do not see anything bad in taxation of crypto profit, if my government will make it necessary I will pay, what else to do?!

[billknight]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Why you try to avoid crypto tax? If you accept the crypto tax for the government, then it is likely that the government will have positive thoughts about bitcoin and cryptocurrency. If the government wants people to pay the crypto tax, then I will certainly pay taxes

[AshleyBernson]

You can buy cryptocurrency as a resident of Puerto Rico

If you’re not old enough to have a large retirement account, and don’t want to lock up a couple million dollars in a life insurance policy, then consider moving to the US territory of Puerto Rico.  The Caribbean island of Puerto Rico has a tax deal you can’t refuse!

We US citizens are taxed on our worldwide income. No matter where we live, we must pay US tax on our capital gains, including gains from cryptocurrency. The only exception to this rule is found in the US territory of Puerto Rico.

[Coffee135]

You can buy cryptocurrency as a resident of Puerto Rico

If you’re not old enough to have a large retirement account, and don’t want to lock up a couple million dollars in a life insurance policy, then consider moving to the US territory of Puerto Rico.  The Caribbean island of Puerto Rico has a tax deal you can’t refuse!

We US citizens are taxed on our worldwide income. No matter where we live, we must pay US tax on our capital gains, including gains from cryptocurrency. The only exception to this rule is found in the US territory of Puerto Rico.

Why go to Puerto Rico yourself? It is enough to have someone familiar there and work through his account. There are also many other countries in which the government is not interested in cryptocurrencies at all. You need to have a lot of friends around the world and then the problem of taxes you will not.

[Ar.harry]

i am new on crypto. doing work,how to avoid tax on coins when i got coins?

[lokanot0]

It depends on your governments law. Most country have not yet legalize bitcoin, therefore, they do not have the power yet to collect taxes on it when you do transactions on bitcoin. Once a government legalizes or regularizes the use of bitcoin, then the government can impose tax on it, when this happens it is better to pay the taxes you are required to pay rather than avoid it to prevent sanctions.

[wheilcristinna]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Simple
1. Move to a country that has 0 taxes or lower taxes on gains made from crypto trading.
2. Sell your coins for cash directly in person, then stash the bills under the mattress.
3. Hire a pretty good lawyer specialized in this....

Depending on which country you live in you might get away with the second option...or end up in jail.

It would also be nice if you would tell us where you're from...
Since it's one thing if you live in the US or Moldova.

And which countries will have 0 tax on cryptocurrency? I know Germany has, but you need to hold crypto for at least year to be able to avoid taxes.

[mekie]

There are legitimate ways to minimise your tax liability and there is tax evasion, sometimes the boundaries between the two are unclear. How you minimise your taxes depends very much on your country of residence as each country has it's own regulations. Remember tax evasion is illegal and could land you in jail.

As you are not trading in a physical product, the situation is even more complex. Additionally the way you structure your trading will depend on the amount of the trades and the volume  of trades-it would be pointless setting up an expensive, complex but legal structure to minimise your tax if you are only making a few hundred or even couple of thousand dollars per year, as the cost will wipe out your profit.

Realistically-you need to allow $2500-5000+ to set up the structure and $1500+ per year to maintain (excluding any accountants and legal advise).

Think carefully, take sound advise from your accountant and legal adviser before getting in to deep, it could cost a whole lot more if you get it wrong and don.t seek professional advise.

[ethereumhunter]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Why you try to avoid crypto tax? If you accept the crypto tax for the government, then it is likely that the government will have positive thoughts about bitcoin and cryptocurrency. If the government wants people to pay the crypto tax, then I will certainly pay taxes

that is right, we need to obey the government rules and I am sure that we are safe and we don't have to break any law in our country. it is better to pay the tax for cryptocurrency then to go jail because we don't pay the tax. besides that, we can free to use cryptocurrency and we don't have to worry about anything because we are following the government suggestion and we can show to other people that we are still paying the tax.

[kassad1]

Anyone interested in how to avoid tax on crypto:

I summed up the best solution I could find here:

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

[aryatrals]

The most important thing about crypto currencies what we can all do is to keep it legal.
There is already enough bad publicity in the media, I don't think the average user should start doing things on the boarder of legality with it.

The way how bitcoins are taxed differ in many countries. If it's not really clear, ask a local tax consultant.

we should use bitcoin for something that is good and does not violate the law, so this makes bitcoin more known, because with a good image all the facilities of bitcoin can be utilized by all levels of society, about bitcoin tax will not be a significant problem, because all products in this world will definitely be taxed, this is what makes the product legal, the tax applied I think is comparable to the benefits we can get.

[Cryptoverlord]

You could move to Puerto Rico hehe

[ranman09]

Embrace taxes. Tax is part of our everyday lives for as we live in a community that needs it. It funds almost everything you see on the streets. But sure, there is a way to minimize tax but to actually waive it!

[imstillthebest]

taxing trading is good. reduces the amount of speculative trading, and pump and dump tactics by whales that shold be ilegal

taxing trading is good.

no its not . we are already been charge by a high transaction fees and other servicing fee from trading platforms  .

reduces the amount of speculative trading, and pump and dump tactics by whales that shold be ilegal

thats not illegal because that all are normal not only in crypto but also on any other business as well  . those acts are the ones that gives us an oppurtunity to buy low and sell high because they help the price to become more unstable  .

[Siren]

If I make money on crypto currencies. How do I avoid as much tax as possible?

The very best way to save money from taxes in crypto?live in areas whereas theres no regulation in taxing the coins,and preferably you can find this in some asian countries where the governments are neutral on crypto and may not putting tax

[Johnzky]

If I make money on crypto currencies. How do I avoid as much tax as possible?

You’re gaining money and wanted to avoid paying taxes?you are a greed person mate and thats not a good attitude,remember that paying taxes is an obligation and regulated

And besides gaining in crypto is too easy than working hard in jobs,so why paying tax in regular job and not in this area of profiteering?please stop acting like tax evaders because that’s punishable by laws