Can we avoid crypto taxes with other users assistance?

[Maus0728]

this is where i see alot of people want to EVADE taxes.. but they need to learn how taxes work.. to then learn the tax avoidance loopholes

tax avoidance is using the tax laws toy your benefit and its legal
tax evasion is breaking tax laws which come with repercussions because its not legal

learn the loop holes your countries have in regards to tax, find the legal ways of transferring value tax free

Exactly, for my country, we don't pay taxes or file an income tax return as long as our income don't go higher than or triple if not quadruple the minimum wage which is pretty low but if you're not going to have that problem with your salary, taxation is pretty lax in the country, I have a friend that doesn't pay the taxes but he's got the money to be able to buy a house and some luxury car but there's no taxes that he's talked about. I think that the moment that your bank account is seeing a lot of activities that involves large amounts of money, that's probably the time that the BIR (IRS of my country) will do some probing but so far, it's going smoothly for everyone of us.

To OP, I'm saying this with objective purpose of answering you, no other reason. Yes you can have an assistance but the caveat here is you're going to need a friend that you can really trust through thick and thin because when you do this, you're going to relinquish control of your money at some point in the process and if that friend isn't trustworthy, you're going to get scammed or duped by that friend, always remember that money can make someone do unthinkable things and break friendships, it's just a matter of amount that they're going to betray you.

[DubemIfedigbo001]

this is where i see alot of people want to EVADE taxes.. but they need to learn how taxes work.. to then learn the tax avoidance loopholes

tax avoidance is using the tax laws toy your benefit and its legal
tax evasion is breaking tax laws which come with repercussions because its not legal

learn the loop holes your countries have in regards to tax, find the legal ways of transferring value tax free

Definitely, I think people should know crypto activities that are taxable and the ones that aren't taxable and from there they can choose means to avoid taxes and still achieve the same results.

I believe tasks are applied to your profits from any transaction and the percentage might differ from country to country. The profits that are taxable might include:

• Selling digital assets for fiat
• funds  generated as payment for  gods and services rendered
• money generated from selling your coins
  
• Gains Accumulated from trading

You may be informed that your capital isn't taxable, you're tasked on your gains from the time of purchase. Also if you receive  funds for your company services, you should write it down as income so that it can be taxed accurately

Well there are other ways to avoid tax

• purchasing crypto with fiat
• transferring funds between wallets
• donating crypto to charity organizations
  
  

Its up to you yo know which patterns you feel like applying to avoid taxes on the digital assets that you own.

https://www.investopedia.com/tech/taxes-and-crypto/

[btc78]

I know a lot of rich people who go through different hoops just to pay a little less tax than they normally would. It makes me think why not just pay it? If you’re so rich, just pay it like any other citizen in the country. Well anyway I am sure those people have groups of experts such as lawyers and financial advisors.

I think depending on your country, the taxes with relation to cryptocurrency can be vague. In my country, there is really no definitive law that specifies anything about crypto and taxes for that matter.

So, I think you need to check your country’s laws about taxes and surely you’ll find a loophole in there.

[blckhawk]

What I can see in the worries of higher crypto taxes is that there's going to be more people that's going to not give the government what they want and crypto can be used as it is, a p2p electronic cash so it's not really that difficult for crypto users to use that as a means of payment although it's a matter of how many people there are in an area that uses cryptocurrency for their transactions. There's also the loophole of P2P trade, you sell your crypto in person and that person that will buy your crypto with their fiat, that way, there's no transaction that can trace you that you did receive some payment, it will look like you gave someone a gift and I think that it's legal so there's no way that you're going to be prosecuted by it, I'm not a lawyer but this is what I do and so far, there's nothing that has happened to me, legally speaking.

The only downside to this is you're going to show your face or something like that, doing P2P trade online is going to be a problem since there's a receipt that you did receive money in that crypto transactions.

[davis196]

What do you mean by "collaboration with other individuals"? Do you want to send your crypto to somebody, who lives in a "tax heaven" country with the promise that he will return you the crypto when you need it? Yeah, I can't see what could go wrong here. There's zero chance for you getting scammed. If you really want to get involved into tax evasion schemes, I suggest you to never trust anyone and to do you own research. If you are too afraid about paying capitals gains tax just don't sell big amounts of crypto. Just HODL until the next bull run.

[Volimack]

Taxes are determined based on the income of the wealthy and are usually legally binding if determined by legal action. But there is no tax activity for crypto. Crypto is not legalized by decentralized government. Crypto is good as an alternative. We cannot avoid crypto tax with the help of other users because crypto and other users are two different things.

[Coin_trader]

Moreover, that's why users are always searching for legitimate or illegitimate ways to reduce their tax obligations. This made me think about collaboration with individuals living in countries where we don't pay any taxes, to offer some insights that might help mitigate tax obligations?

You should hire a professional accountant to legally reduce your taxes. This is the only way to pay less tax without committing a serious crime. Sending someone your Bitcoin just to avoid taxes is a form of tax evasion since you will need to explain that expenses especially if the amount is big. This kind of move is questionable on audit by the IRS or same agency on your country.

I’m a tax payer myself due to my business and everything should be documented to avoid evading tax because this is a serious crime. Crypto tax evasion is much easier to track since there’s a blockchain records while your transactions involves CEX.

[Mrbluntzy]

Go for legitimate ways of reducing or avoiding your tax, that one might have just a small effect on you or may not have any effect at all but when you prefer to use illegal means to get off tax, you will end up to be discovered by the law enforcement and can face a very bad consequences. In some country that crypto laws are not taken seriously by the government, tax on crypto investors are not taken very serious on small investors or even whales that are investing on a low key. I could be a whale buying big amount of Bitcoin secretly and not body will notice and demand for tax. In a country, there are always some lapses in some systems and if you discover those lapses in the tax system, you can skip tax and go off the hook.

[pinggoki]

If the amount levied on tax payment is affordable to the people, i don't think they will like to make moves in finding an alternative to wave away the incident of paying for task, the same issues we had when the fiat transaction cost is unbearable that led to the development of a new and alternative means of making payment with bitcoin, so i don't see it a bad idea if we have a means to avoid such but legitimately.

The problem is that the government that's inherently corrupt will almost always try to keep their hands on as much money as possible, remember that tax is their lifeblood and if the people stop paying them, they can't function and for those corrupt people in the government, they'll end up with nothing to pocket, that's why they try to squeeze you even more for the taxes because the budget that they've got is piling up because they overspend on some to purposefully pocket the surplus amount of money. As much as I want to say that I like normal working class people to be getting all the money that they want without paying the taxes, the problem is that the public works are going to suffer the most and you don't want to be crossing a nearly collapsing bridge because they used a substandard cement to finish that bridge. In regards to avoiding taxes, there's probably a way to do that but I'm not going to elaborate on that so people don't get any ideas.

[Blitzboy]

Smart techniques and keeping whats yours are fine, but we're talking about playing by the rules.

Working with pals in tax-friendly areas? Though clever, its complicated. Remember that each country's tax regulations are complex and easy to get entangled in. A tax haven partner may raise flags faster than a rocket at my rally.

Listen carefully because this is where it gets good: focus on legitimate strategies. Consider legal crypto-friendly tax structures. Malta and Puerto Rico have welcomed crypto fans with cheaper taxes without any tricks.

Yes, you can maximize your taxes. Above board, always. Research the regulations, hire a crypto-savvy accountant, and make informed decisions. Avoiding taxes isnt enough - you also need to make sensible, lawful investments.

[Bushdark]

I this things are been over hyped in many of these countries. Why on earth would I have to pay tax reaching up to 56%?
This is crazy and it shows that the government do not want anyone to be Bitcoin investor. If I am leaving in any of these countries, I would always look for a way to bypass paying such an heavy tax to the government. The tax is far too much and this can make an investor rethinks and halt the idea of investing in Bitcoin. We need to be wise and jump out of such region with heavy tax for us to live well as crypto investors.

[kentrolla]

It's really difficult and a lot of risk is involved as one can use get it exchanged with friends or family members living in tax free nations but how will you get it in your bank or cash in hand as fiat? Even they have to transfer it through an international payment modes which involves tax and if crosses a lot you have to show the proof of that incoming transaction to the government. Either keep hodling in BTC until there are any changes in the rules or pay taxes, there are lot of processes involved to get it changed through foreign resources but involves risk and multiple processes and can be used for huge amount not for smaller transactions.

[Apocollapse]

I don't understand with people who advising to seek an accountant, you're risking yourself if you do that because you will tell anything to your accountant, then this accountant can attack you whenever they want. And... what about you fall to the trap of a tax officer that pretends to be a public accountant?

That being said, if you want to hide something, make sure you can hide it from anyone else.

[Iranus]

I this things are been over hyped in many of these countries. Why on earth would I have to pay tax reaching up to 56%?
This is crazy and it shows that the government do not want anyone to be Bitcoin investor. If I am leaving in any of these countries, I would always look for a way to bypass paying such an heavy tax to the government. The tax is far too much and this can make an investor rethinks and halt the idea of investing in Bitcoin. We need to be wise and jump out of such region with heavy tax for us to live well as crypto investors.

It is true that some countries are taxing crypto investors quite high and they claim that it is a way to discourage people from getting involved in crypto. But they were wrong to introduce that policy because investors will find every way to avoid taxes because the tax rate is unacceptably high. But there are also some investors who are using bitcoin and cryptocurrency to avoid taxes, they have no intention of paying even the smallest tax to the government. I'm pretty sure the majority of investors here don't want to pay taxes regardless of the amount. That is also the reason many governments do not like bitcoin or cryptocurrency.

[Synchronice]

As we go deeper and put ourselves in the realm of cryptocurrency world, the issue of taxes remains a pressing problem and concern for investors of countries where they obligate you to pay a percentage of the assets you own. Especially in some regions such as Japan or Belgium, Honestly, what made me think like this is reading about many topics about the new laws and the amount of taxes crypto users are giving to governments including some users in this forum.

Moreover, that's why users are always searching for legitimate or illegitimate ways to reduce their tax obligations. This made me think about collaboration with individuals living in countries where we don't pay any taxes, to offer some insights that might help mitigate tax obligations?

Every tax law has a loophole. Do you really think that these big giant monster companies pay 100% of their taxes? No, they find loopholes and use loopholes. To be honest, loopholes are created for such companies to not pay taxes but overall laws apply to average Joe and governments expect that average Joe will pay as he is supposed to pay and he doesn't have enough power to use loopholes.
There are many things that you can do to avoid crypto taxes but you have to know the law of your country at first.

In some countries if you hold your coins for specific period of times, you don't have to pay crypto taxes. Also, if no one knows that you own crypto, you can pretty much sell them without anyone knowing that you owned a one. For example, you can use p2p decentralized exchanges. You can also marry to a woman who lives in a country where taxes are rarely paid and crypto is untaxed. Options are limitless.

[Natsuu]

I don't understand with people who advising to seek an accountant, you're risking yourself if you do that because you will tell anything to your accountant, then this accountant can attack you whenever they want. And... what about you fall to the trap of a tax officer that pretends to be a public accountant?

That being said, if you want to hide something, make sure you can hide it from anyone else.

In pur country, theres what we call tax avoidance which is legal. In the Philippines, tax avoidance and accountants can be a big help with that. They know the ins and outs of the tax system and can guide you on how to legally minimize your tax bill. Just remember that tax avoidance is about using the rules to your advantage, while tax evasion is a big no-no and can get you in serious trouble. So if you want to keep more of your hard-earned money in your pocket, it's worth consulting with a trusted accountant who can steer you in the right direction

[DanWalker]

I don't understand with people who advising to seek an accountant, you're risking yourself if you do that because you will tell anything to your accountant, then this accountant can attack you whenever they want. And... what about you fall to the trap of a tax officer that pretends to be a public accountant?

That being said, if you want to hide something, make sure you can hide it from anyone else.

In pur country, theres what we call tax avoidance which is legal. In the Philippines, tax avoidance and accountants can be a big help with that. They know the ins and outs of the tax system and can guide you on how to legally minimize your tax bill. Just remember that tax avoidance is about using the rules to your advantage, while tax evasion is a big no-no and can get you in serious trouble. So if you want to keep more of your hard-earned money in your pocket, it's worth consulting with a trusted accountant who can steer you in the right direction

The problem is how to find a trustworthy accountant? And where do you rely to ensure 100% that that accountant will not betray you or try to harm you when they know you intend to evade taxes?

I don't know whether trying to avoid taxes in your country is common and considered the right action. But I know it's against the law because the government won't like this, so once we intend to do things that may be illegal, it's best not to let a second person know. Because there is no guarantee that they will keep your secret. Not to mention whether bitcoin is legal in your country or not, because if it is illegal then your crime is even worse.

[kryptqnick]

Tax evasion is a crime, and it should be taken into account when thinking about ways of not paying taxes. So, the way I see it, there are several options here.
One is to pay taxes that your country requires. After all, as the table shows, the taxation is usually progressive, so if your crypto income is low, it's unlikely that your tax rate will be high. Another option is to officially register one's business in a tax haven (for example, in El Salvador), but I think it's better to do things like that in person, instead of relying on other people. Finally, in some countries, tax evasion may not be a serious crime and may not actually be prosecuted, unless it's a part of a case with a different and bigger crime (like theft, bribery, scamming people, etc). I know such places exist because I live in such a country, where tax authorities are very weak and paying taxes is de facto voluntary rather than obligatory.

[Zigabel]

Moreover, that's why users are always searching for legitimate or illegitimate ways to reduce their tax obligations. This made me think about collaboration with individuals living in countries where we don't pay any taxes, to offer some insights that might help mitigate tax obligations?

I don't think there's a country on planet earth that isn't a tax paying nation, as taxes is one of the major means for IGR for almost every country so the place of tax is something that can't be taken away in any country, the difference is in the fact that some countries have got a very comprehensive taxing system as compared to others especially when making comparison between developing and already developed countries with their taxing system and pattern then the difference becomes very clear. For countries where their taxation isn't comprehensive it sometimes feels like they are have some who do not pay tax and some actually are able to bypass taxation.

Because of their system of taxation these area could ha e possible way of bypassing tax payment but for countries where they have got a comprehensive taxation system I don't any of the ways used to bypass it in other countries will work you just have to maintain your taxing system or look for a way to appeal for a cheeper tax payment rather.

[GxSTxV]

I even can't believe in that numbers, how someone are ready to pay more than half of profit to gov? Good that cash still exsist

It's hard to believe but unfortunately the numbers mentioned in that table are true, and it is on each of these countie's law and crypto regulations.

I don't think there's a country on planet earth that isn't a tax paying nation, as taxes is one of the major means for IGR for almost every country so the place of tax is something that can't be taken away in any country, the difference is in the fact that some countries have got a very comprehensive taxing system as compared to others especially when making comparison between developing and already developed countries with their taxing system and pattern then the difference becomes very clear. For countries where their taxation isn't comprehensive it sometimes feels like they are have some who do not pay tax and some actually are able to bypass taxation.

Because of their system of taxation these area could ha e possible way of bypassing tax payment but for countries where they have got a comprehensive taxation system I don't any of the ways used to bypass it in other countries will work you just have to maintain your taxing system or look for a way to appeal for a cheeper tax payment rather.

You didn't read the title or the whole topic ? Your answer seem to be about taxes in general for every citizen, while my topic here is only limited to crypto, when someone tries to withdraw or trade his crypto for fiat, in some regions as mentioned in the topic, they have to pay up to 50% as tax fees. However, there are some other countries where they don't have clear rules for crypto or they don't even track your translations which means they don't tax your assets in a way or another.