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:
http://i.imgur.com/N1VMv.jpgYes I pay tax for better country and help others.
