Post
Topic
Board Legal
Re: tax on bitcoin profits?
by
unity100
on 26/12/2017, 18:46:01 UTC
Hey Serpens66,

I moved from Germany to Spain and just got into the tax issue too. As far as I'm aware there's no 1 year differentiation here any more. Trading profits always count as savings income, so the base del ahorro (max 23%) applies, no matter how long you held.

Sources:
http://www.bolsamania.com/declaracion-impuestos-renta/como-tributan-los-bitcoins-en-la-renta/
https://noticias.infocif.es/noticia/tributacion-de-los-bitcoins
They are getting greedy it seems. Someone noticed the increased value and rising popularity and pushed through a "better" option.
"Look, those investors are now going to have a lot of money, why lose an opportunity to get some more cash into our budget?"

First, it is advisable to understand what you read before commenting on it.

According to those posts the tax rate seems to be reduced, classifying any conversion of coins as investment.

But second:

Quote
Also I'm amazed that they have such high taxes for high income. 45% tax? WTF? It saddens me that Spain is ruled by socialists.

Im amazed that the people of other countries, namely the US and the like, can pay through nose for the services the people in Spain receive almost for free, but still not get even half the service people in Spain are getting, while living in perpetual risk of medical bankruptcy or peril of sending a kid to college amidst student loans reaching $100,000 ceiling, and yet then still criticize, and 'lament' the 'state of socialist countries'.

No amount of taxes you save in a non socialist country will save you when your private insurance bails out of paying for your necessities. Then, welcome, medical bankruptcy. Or, death.

https://www.themaven.net/theintellectualist/news/american-dies-after-coming-up-50-short-for-insulin-SS40PFVy_0eop_3N2Q_8Vw

Something like that would end in a riot or a revolution in Spain.

Beyond that, to get the healthcare levels one can get in Spain you would pay around ~$10,000/year and then still be required to 'pay at the point of service' in the US. And then it wouldnt cover a lot of other things, and then it wouldnt be valid in all hospitals in all states, and then it would also always have the risk of insurance bailing out on you.

It saddens me that people can die out of being denied healthcare because they dont have enough money in US.

If only US was socialist enough...

And this is without touching things like free education, infrastructure, other social services and stuff.