Quote from: Kemarit on December 06, 2018, 01:58:57 AM

Oh yeah, the length of things people will do to avoid taxes, I know some hated to pay their crypto taxes but this method complicates thing specially for a casual or noob investors or traders so it doesn't makes sense at all. And sooner or later if your government finds out, might be a double whammy to the OP. But @kassad1 put a better explanation but the end result is still the same, too complicated.

Interesting, I actually like this solution because I find it very simple to implement:

1. find the storage room in the UAE you want to rent
2. pay for it
3. cash out crypto as you normally would
4. IF asked for source of funds by your bank/taxman, declare it is income from renting out the storage room
5. Done.

Figuring it out was in fact complicated. Describing how it works in detail based on the international tax agreement is complicated.
Implementing it can't really be any more simple.
People are suggesting moving your residence to a new country, or establishing company structures (or doing both at the same time) to achieve the same thing. Compared to all of that, here we are talking about renting a storage room...
It is as complicated as renting yourself an apartment. I actually think making your first crypto purchase had to be a lot more complicated (it was for me at least) then renting a room.