Post
Topic
Board Bitcoin Discussion
Re: crypto earnings
by
Kupid002
on 03/12/2019, 14:26:44 UTC
guys how to get around local tax laws and convert crypto earnings into legal fiat?
I don't think that there is a "get around" for taxes, period. You either pay what's owed of you, or don't, and risk being audited and all of the other consequences that follow such course of actions. To convert your cryptocurrency into fiat, you have to go through a medium, usually in the form of an exchange. Which may require KYC/AML compliance.
And more of the exchange that want to widraw large balance need to make that KYC. I dont think tax will be a problem if the government ask you for your tax then give them the right amount for taxes, if you have enough money to pay why will you be affraid.