The only thing these ads could do is to paint Trump as racist. Which we know is false.
The Financial Transaction Tax and Disappearing Day Traders
- Thread starter zdreg
- Start date
Who's the "they" of which you speak? Do you mean the fine sheeple who paid mutual funds 1%+ of their assets annually, regardless of actual returns? Those "they"??
Who's the "they" of which you speak? Do you mean the fine sheeple who paid mutual funds 1%+ of their assets annually, regardless of actual returns? Those "they"??
The german lawmakers. I have no doubt a few retail traders would only understand the problem after the first tax year, but it is much worse than paying 1% management fees.
T
tomtr27
It is so bad that here in Germany many are uninformed and just keep trading.
We all know that $ 100,000 profit $ 100,000 loss is $ 0 profit. A bad year. Our tax office does not get enough and wants a profit of 26.75% $ 26,750 tax. Yes man makes zero profit but still has to pay taxes. And the tax office with us doesn't take long. If you don't pay within the short term, you have to go to jail. $ 0 profit and still tax. We traders here are stunned. I have to leave the country to act ... so is it still!?!
I work with Google translator "
Couldn't you just simply set up a corporation and trade through that vehicle?
T
tomtr27
1047/5000
Hello Maverick Thanks for the tip and the sympathy. I've already thought about it. The costs in Germany are very high for eg. GmbH
What comes to mind is Prop Trading Leeloo (you can trade the FDAX at Leeloo or the Mini FDXM which is very good for my time zone until the markets open in US), TST eg.
because with w8ben the derrivate tax does not apply. Or emigrating, which I am seriously considering. Germany has changed a lot to the negative through the CDU / SPD (Merkel the old Rampensau).
My wife has also been harassed and threatened several times by asylum seekers and foreigners. They hang out here everywhere .. I have 5 children which is probably the biggest problem when emigrating. I don't want to whine, but I have to find a solution. I already had to give up my Sierrachart (7 years) this year because of the rithmic problem. Now back to Ninjatrader and a hard switch from SC. where it runs smoothly. Several crashes ... I haven't even had something like this at Sierrachart in all these years.
So I understand this only applies to individuals, not companies.
Does it apply to a professional trader trading under his own name? Does it apply to workers in other branchs which trade on the side?
Let's say you have a typical german lawyer invested in 2 different funds to save money, one at Deutsche and one at Commerzbank. He has made 300 K realized P& Lon Deutsche but lost 700 on Commerzbank fund. Does he have to pay 80,25 K euros tax on his 400 K loss? I still can't believe it.
T
tomtr27
Exactly only private individuals. Companies, banks, companies, companies, not.
300 K profit - 10 K offsetting losses at most then makes 290 K 26.75% tax 77 K So total loss 400 K + 77 K tax = 477 K loss.
You can only deduct what is in the same account. I calculated it anyway. Then it doesn't matter anymore.
"Finance Minister Scholz (CDU / SPD) Germany says"
We can hardly prohibit speculation and gamble but make it unprofitable with the new derivatives law "
Then he grinned like a honey cake horse.
Sure, I couldn't believe it at first, but according to BAFIN, my calculation and yours are correct.
T
tomtr27
So now comes this tax Financial Transaction Tax
https://www.sueddeutsche.de/wirtschaft/scholz-finanztransaktionssteuer-hoehe-1.4716847
https://www.sueddeutsche.de/wirtschaft/scholz-finanztransaktionssteuer-hoehe-1.4716847
Damn... This is really crazy. The goal of this piece of law is to make trading unprofitable for individuals.
Is this new law ratified?Do you know what seasoned traders are doing?
I am sure there must be a few big dax scalpers trading their own money. Are they creating a Gmbh ? Relocating ? Do those trading european markets have to ask for an "investment firm" authorization to Bafin according to Mifid2?