Post
Topic
Board Legal
Re: Tax Avoidance Possible legally with Bitcoin?
by
zasad@
on 23/03/2023, 13:50:54 UTC
Tax Avoidance Possible but in a few countries. Depends of your passport and residence too. For example Georgia - 0 fees on crypto income, but it can changed in any time. Passport - you should declare your income in your country of residence.

One of the option is: Come to the country where there are crypto exchanger (like Georgia - Tbilisi, i heard also there are a few in Turkey), send them crypto and get cash.

Anyway - the more totalitarian government (USA, EU for example in my opinion) you have the less chance to explain where did u get funds. The less "formed" government you have then easier to explain the source of income \ hide income
Even if you change the cryptocurrency in Georgia, it will not help you. If you want to buy real estate in Georgia, then the tax office may ask you for a source of financing.
The cash withdrawal limit from Georgia is no more than $10,000.
Cryptocurrency can be exchanged for cash without problems in most countries, but it is much more difficult to legalize income.