Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I do not have to pay income tax on my holdings, just 1-3%.
It's in your country law or what? So from your words, if you try to sell BTC you will be needed to pay only 1-3 %? Sounds pretty silly, especially in EU. Maybe in some offshore - yeah, true story, but not in EU. As i remember the only country with such opportunity is Germany, where if you hold btc more than one year you don't need to pay taxes on them.
If I sell BTC I have to pay 15% long term cap gains and at a 0 zero $ cost basis (because I didn’t pay anything for my BTC), along with regular income tax, with audit insurance for about $150..
So basically 15% of the amount sold..
So basically 15% of the amount sold..
And what is your regular income tax?
Maybe countries has limits for sums. For example, in my country i can withdraw with 3-5 % tax. But if sum is bigger than 400k USD i need to pay 42 %
I can be wrong, but i will never believe in story where some EU citizen just declared his 10 millions and governments was like "Oh man, please pay 1-3 % from this incredible sum, good day". If there is no special law (like in Germany).
Because memes are harbingers of a dystopian future?
E-S-P-E-C-I-A-L-L-Y !
Regular income tax like as in tax on earned income from a job/employment..
Probably something like 18% ish.. Depends on how much you make really..
Just saying that I would file and pay tax on a BTC sale at the same time I would file my income taxes all in one bundle.. But they would be taxed separately..
Like, it wouldn’t be 15% ltcg + 18% income.. Just 15% on the sale, and around 18% on earned income separately..
That’s how it worked when I sold a bit in 2017 atleast, gave me audit insurance on it, haven’t heard a word about it since, so I guess it worked..