I thought so too at least for continental Europe. Seems like Italy according to many Italian traders here could -could- be different at least in practice. I am trying to get all the facts but it's not easy not speaking italian. If anyone has info on Italian 12.5% CGT , it is greatly appreciated (PM).
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Is there anybody here from France ?
- Thread starter letom13eur
- Start date
I thought so too at least for continental Europe. Seems like Italy according to many Italian traders here could -could- be different at least in practice. I am trying to get all the facts but it's not easy not speaking italian. If anyone has info on Italian 12.5% CGT , it is greatly appreciated (PM).
Quote from nononsense:
Lots of TALK in your post. Do a search on capital gain taxes. In fact for trading like we understand it at ET, your profits will be taxed in France (and other EU countries) as ORDINARY INCOME (60%+). Your trading will be considered as a professional activity.
60% + is a fallacy. Capital gains taxes that are taxed as regular income get to be at most 35%.
In some countries it is listed as only capital gains taxes and stay that way, unless one declares otherwise.
I should know, I had long talks with my tax accountant about it.
Quote from kalinka:
Just to add something more.
People seems to be very naive when they not can
realize the difference between capitalgains and trading
as a businessactivity.
I can now understand why + 90% of traders fails.
It is how one declares it. I shall keep on declaing as I do until the taxmans says otherwise.
Also trading as a business one can set up a corporation that is only taxed a 20% flat. Then when one takes out income one is taxed at regular income rate which is lower the one thinks for selfemployed.
Of course health insurance and other kind of insurances are ones own resposibility.
Kicking,
As I said I love the French Riviera but you always have to
take some securitymeasurements.
I have a friend that moved back to Sweden, he left
three days before the movingcompany should empty his villa.
But the "movingcompany" came the day after he left and
all his belongings dissappeared and of course his neighbours
knew he was leaving and thought that this was the hired
movingcompany.............
As I said I love the French Riviera but you always have to
take some securitymeasurements.
I have a friend that moved back to Sweden, he left
three days before the movingcompany should empty his villa.
But the "movingcompany" came the day after he left and
all his belongings dissappeared and of course his neighbours
knew he was leaving and thought that this was the hired
movingcompany.............
Quote from Kicking:
It's not about democracy, it's about courtesy. Everybody who trades speaks English so I don't see why you make long posts in French, it's just annoying and will only serve to convey the idea that French are arrogant and self centered. I am sure everybody here loves French and many can read it but it's a US forum besides French is worthless to talk trading. And making derogatory comments sure doesn't help either.
For those interested in France as a residence I will refer them to the thread I started a few months ago. Do a search on " living in France" . I gathered quite a bit of info and came to the conclusion that for a professional trader living in France is pure folly due to the insane tax burden . It is the same in most continental EU countries I am afraid. America still remains the freeer nation.
Cheers
VIVA MONACO BABY!!!! SUPER low crime rate and 0% tax for trader trading at home....and then theres the scenery on larvato beach, and thats free....
Tradenut,
I´m a client of Kmpg and Coopers, I don´t want to take chanses.
So please show some waterproof solutions where your
tradingincome is taxed as capitalgains.
If you are talking about France you are dreaming, the
only good thing about France is the taxation of artists, where
the artisttax is ca 15 %.
On a mimimumsalary "the smic" the taxes including social
costs is + 60%. Fantastic!
I´m a client of Kmpg and Coopers, I don´t want to take chanses.
So please show some waterproof solutions where your
tradingincome is taxed as capitalgains.
If you are talking about France you are dreaming, the
only good thing about France is the taxation of artists, where
the artisttax is ca 15 %.
On a mimimumsalary "the smic" the taxes including social
costs is + 60%. Fantastic!
Quote from kalinka:
Tradenut,
I´m a client of Kmpg and Coopers, I don´t want to take chanses.
So please show some waterproof solutions where your
tradingincome is taxed as capitalgains.
If you are talking about France you are dreaming, the
only good thing about France is the taxation of artists, where
the artisttax is ca 15 %.
On a mimimumsalary "the smic" the taxes including social
costs is + 60%. Fantastic!
Kalinka you are right about France, in Germany it is as I mentioned earlier, as a self employed your tax burden is much lower. Of course you need to take care of your own social costs.
If it is for taxes France is definitly not where I would want to go just as you say.
My prference right now is Italy. 12.5% and no provision to move that into income taxe as of now.
In Germany Schroeder is trying to push a measure that would tax capital gains at a flat 15% and that is all. Of course that would be taken from the top.
More is not yet known.
I shall post as more comes to light.
As far as Italy, a Gentleman that trades there was vehement that capital tax gain is only 12.55 and was not taxes as regular income unless it was so declared. I looked up on it and could not find anywhere where it would be considered income. I am still looking but so far it is as one declares.Quote from kalinka:
Thank you for your answer but the big question still
remains for Germany and Italy.
Is your Tradingincome Capitalgain or a running business?
I think we need some Italian taxlawyer here!
Germany is not to bad for selfemployed. The only problem right now is that they need money and are trying to find anyway they can to raise revenue.
At this point in Germany my accountant told me I would only pay 35% max.