I just heard that speculative profits from cryptocurrency trading are not subjected to taxes in Liechtenstein.
Is it really so ?
Anybody resident and knows the facts ?
Is it really so ?
Anybody resident and knows the facts ?
No taxes for speculative trading in Liechtenstein ?
- Thread starter xfxpro650w
- Start date
https://taxsummaries.pwc.com/Liechtenstein/Individual/Taxes-on-personal-income
https://taxsummaries.pwc.com/liechtenstein/individual/significant-developments
If you don't live in Liechtenstein you will for 100% be caught for tax evasion in the country where you reside. They will receive full detailed reports about your bank account in Liechtenstein. On top of that the country is quite restrictive when it comes to residency, with only 89 permits being awarded to EEA and Swiss residents.
https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/
The first rule now is: move to the country that has low taxation and live there permanently.
https://taxsummaries.pwc.com/liechtenstein/individual/significant-developments
If you don't live in Liechtenstein you will for 100% be caught for tax evasion in the country where you reside. They will receive full detailed reports about your bank account in Liechtenstein. On top of that the country is quite restrictive when it comes to residency, with only 89 permits being awarded to EEA and Swiss residents.
https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/
The first rule now is: move to the country that has low taxation and live there permanently.
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The chances that you will be allowed are close to zero. And without that Liechenstein is no option for you as you wrote that you live in Europe.
No taxes on capital gains (as in switzerland and other places) for the average joe, even if speculative.
Highly active traders (net worth several 100k, with additional indications including using leverage, a lot of trades, living mainly off profits, using options) however are considered professional by tax authority and their profit is taxed as income (like any other self employed professional).
Tax law isnt very clear on when you are considered professional, but making several 100k annually trading every day actively you will be.
Top tax bracket (including social welfare stuff) comes to around 35-40% depending where you exactly live.
Highly active traders (net worth several 100k, with additional indications including using leverage, a lot of trades, living mainly off profits, using options) however are considered professional by tax authority and their profit is taxed as income (like any other self employed professional).
Tax law isnt very clear on when you are considered professional, but making several 100k annually trading every day actively you will be.
Top tax bracket (including social welfare stuff) comes to around 35-40% depending where you exactly live.
Yeah, I have been to Liechtenstein, it is not chapt to live there. Visa is a whole new ball of wax.
Ty vm answering to my question.
The residency isn't a problem for me. Just wan't to know what is the tax system in practice which I think got answered very well by another post.
Are they in the EU?
I wish it was only around 35-40%.
I live in Europe. This is the total cost just from my native country:
The government takes 50% or more of your profits, no matter how much money you make.