what happens if i withdraw 100k € to my bank account from an exchange in germany

[teramit]

i am foreigner to germany.In my country(TUR) if you withdraw 100k (TRY) to bank account nearly nothing happens, maybe in future it changes but for now not a big problem. I wonder what happens if i were in germany in same situations. Does government or bank directly taxes you ? Lets assume cryptocoin was in my hand more than a year. Is there an income tax for it ?

[Souri]

No you will not automatically get taxed (as money coming from an exchange will not be seen as a "Kapitalertrag" by your bank, but rather just a bank transfer), but you can be sure a transaction this big will be reported to the authorities from you bank (anti-money laundering). So when tax season comes you will have to declare the money and with 100k you surely also have to do some anti money laundering explanaitions.

[teramit]

so we assume there will be tax ? eventhogh it is not automatic will there be a taxation ? how do you declare your income and tax in this situation.

[mdkmarko]

i am foreigner to germany.In my country(TUR) if you withdraw 100k (TRY) to bank account nearly nothing happens, maybe in future it changes but for now not a big problem. I wonder what happens if i were in germany in same situations. Does government or bank directly taxes you ? Lets assume cryptocoin was in my hand more than a year. Is there an income tax for it ?

If you hold the "same" cryptocoin(or more coins) in germany for 1 year or more and u did with this coin(s) 100k profit, you will not to have pay taxes for it.

[Souri]

so we assume there will be tax ? eventhogh it is not automatic will there be a taxation ? how do you declare your income and tax in this situation.

For just holding coins over one year with no sales in between there should be no 25% tax, but at this volumes there might be the question with regards to your status as a privat person or a company trading so there might be some tax implications.
Automatic taxtation does exist in Germany and many banks support it (unless you give them a "Freistellungsauftrag") by directly sending of the text parts on your trades. But as banks do not see your coins, do not really consider coins, and can not know about the duration of your holding, this is not applicable here and is more for shares and interest on bank accounts.
If you are a German citizen you just file your tax report and declare your wins and losses and then beg to not get audited. I have no experience with the process for foreign citizens. Having said all that at this amount of Fiat it might be worth to shell out a few bucks for a tax advisor ("Steuerberater"), there are actually some with cryptocurrency experience.

[krainzmaster]

This could be a real problem because of AML (Anti-Money-Laundering). Here is an article which explains it https://blockpit.io/blog/en/5th-anti-money-laundering

[MishaMuc]

For just holding coins over one year with no sales in between there should be no 25% tax, but at this volumes there might be the question with regards to your status as a privat person or a company trading so there might be some tax implications.

Taxation will be handled according to your personal income tax percentage, if coins have been held for less than 1 year of time.

[criptix]

Every fiat transaction over 10.000 € will be reviewed and checked.

You will get a letter for sure if you do not declare taxes.

[Tansmorph]

The state wants his taxes, this is for sure.

[krainzmaster]

Here is a taxation tool which is made to handle your taxation in germany:

www.blockpit.io

It is free and you will get a tax report which shows you how much taxes you would have to pay in germany