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Re: Any way how to legally transfer your crypto wealth to the tax-free countries?
by
btcltcdigger
on 16/07/2020, 05:51:40 UTC
Hello, is there someone who thought about the question of how to avoid taxes in your country? Or to pay lower taxes in other countries? I do not want to cheat on my country. But imagine that you live in a country, where I live  Cheesy, and you have to pay tax from every crypto exchange. Correct, when you exchange for example BTC to ETH, you need to pay a 20% tax. That doesn´t make any sense, why I can´t pay only profit that I earn when I sell my cryptocurrencies to the fiat?

This is mainly caused because the governments do not understand cryptocurrencies and I do not want to pay someone for its ignorance.

I'm not sure there is a way to do it, unless you know and trust someone in THAT taxless or tax-less country.
However, there might be alternatives for you;

If your country supports Revolut and if it's available for you there, you can easily sell your crypto on Coinbase and then SEPA transfer your funds to Revolut account. I believe fees are something along the range of maybe 1-2% and you can then spend your money using Revolut by either paying for stuff, or withdrawing at an ATM.

The other option, again if available where you live, might be Crypto.com card. It functions same as Revolut, but it has an advantage that you can exchange crypto to fiat directly in Crypto.com app.