Post
Topic
Board Politics & Society
Re: Are you going to pay taxes?
by
yoyoceramic
on 06/06/2011, 23:09:06 UTC
It's standard "Capital Gains Tax" rather than "Income Tax" when you take it out, just like it would if you sold forex/pm or stocks for that matter.

All governments keep an eye on unusual inflows from accounts on that one, no i wouldn't recommend to cheat on that one.

It is important to distinguish between short term and long term capital gains tax.  Both of which are a function of the ordinary income tax bracket you are in: