Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Hey-Ho!
Crypto tax on the horizon in my country
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.
This leaves me to use BTC/crypto to buy things (tax free).
The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?
Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto
First Bitcoin does not belong to your country aka company so it can not be taxed. Crypto tax on the horizon in my country
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.
This leaves me to use BTC/crypto to buy things (tax free).
The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?
Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto
Second a legal contract requires at least two willing parties. Coercion is not legal.
Third every human is, by free will, a sovereign nation and self-governing if he/she chooses to do so.
Note to self: Ask theymos to implement a feature to revoke (single) Merit from users that have been merited by the revoking user in the past.
I don't know where are you from, but if it's big amount (nice 7 digits or 8 ), just move to Portugal.
That would be nice (i mean the 7 digits), and i probably wouldn't even care, because i consider myself quite humble in regards of monetary richness.
Last not least: I'd honestly like to support my country, in means of giving back, because i am living off health insurance because of a memory condition that made me an underachiever in my well paid job which i did exceptionally well.
Portugal, however is not that far from here and i even got some personal social connections there, so i'll keep it in the back of my head (hopefully) until all the kids are grown ups
EDIT: My english fails me pretty bad today. More than usual, at the least
I am sorry to heard about your health problem.. I am agree to pay tax too, but should stay acceptable, especially on this industry.. And of course if you are married / older and with kids.. it's always more difficult to move obviously.
Anyway if you are talking about 27.5% capital gain tax, you can be from Austria (if EU
)