Countries that don’t tax Bitcoin

Countries that don’t tax Bitcoin

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  1. Let us all be clear. I pay my taxes because I’m not wealthy enough to escape. But if I ever sit on life changing profits from my crypto investments, the plan is very simple: convert to stablecoins (non taxable in my country), withdraw just enough to get my shit together and gtfo of here.

  2. Important to add for Germany: the Finanzämter (=IRS) are currently debating how to treat staking rewards and it may be that you will need to hold those longer / pay taxes on them. If that would come to pass, that would be 10 years, or of course just pay the taxes. I find it an overlooked aspect that no matter where you live, invest in a tool which tracks *everything* for each of your buys and sells so you are prepared.

    So crypto is considered ‘hold each position a year and then tax free’ and staking is in debate, but currently treated the same. BUT: I found that people dont understand the nuance:

    It is fifo – first in first out. And it is per exchange. If I buy one coin today on A and next year on B and sell it for profit the next year on b I have to pay full taxes. If I sell the same amount on A instead (because I held it over 365 days) it becomes tax free.

    As the youtubers like to say: i am not an accountant etc, always ask yours.

    This mindset however makes for a great investment hold mindset: If I invest in this project, will I be able to hold it for a year at minium, and will I get my investment back in a year when I potentially sell? This takes the ‘fun’ out of daytrading and makes you look very differently at projects.

  3. The Netherlands doesn’t charge gains either. All crypto is simply seen as savings and only savings above a certain threshold are taxed (very slightly). E.g. if the threshold is 100K and you have 120K total, you only pay tax on the 20K.

    Furthermore, the tax due is calculated in an obtuse way, but usually ends up roughly around 1% (increasing slightly if you have A LOT). This is because the IRS assumes a theoretical gain/interest on that money and levies 30% on that supposed interest. 30% sounds like a lot, but like I said, only ends up being around the 1% mark. For example, if you were 120K above the threshold, you’d be looking at around 1K in tax due.

    EDIT: important to note is that the IRS has no clue if you actually own any crypto, let alone how much. They don’t even ask you to specify how much it’s worth: they simply ask for your total savings amount (if you indicated it’s above the threshold), regardless of its source.

  4. attention, already rich people, here are the countries you should just casually up and move to while normal working people attempting to accumulate for their life are left with the tax burdens, stuck in their home countries.



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