Trading for a living & taxes in EU

schweiz said:
Go to PWC, Deloitte or KPMG. Will be in the end the cheapest solution, although they are not cheap.
Cheap but bad advice will cost much more.
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So true. that's exactly what I am doing for my current relocation to Spain. PWC is doing a full analysis of my personal situation. It will cost me 3K Euros, but a relocation is such an important step in a life and it is so easy to miss something that I prefer to get advice from professionals. Needless to say, there are so much more personal reasons for my move ( girlfriend job, cost of living, lifestyle, surf...) that tax treatment is almost a secondary consideration...
 
schweiz said:
Not interesting anymore.
Beckham Law: Changes in 2015
On January 1st 2015 reforms of the Beckham Act take place again. On one hand, it excludes professional athletes from this regime. However, there is no retroactive effect, so that foreign players who had a contract in force were
affected by that modification.
On the other hand, the limit of the € 600,000 per year disappears in order to benefit from the scheme. The higher incomes will tax 24% to 600,000 euros and from there to 45%.
Dividends, interests and capital gains tax a rate of 19% to 23%.
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This area of tax on dividends and capital gains external to Spain is the 'grey' area. Probably very wise to get a ruling , hopefully with some liability, from one of the 'Big 4'.

This from a financial advisor in Spain who claims to have much experience of the 'Beckham Law'.
https://www.spectrum-ifa.com/financial-advisers-in-spain/spanish-tax-2015/the-beckham-law-in-spain/
https://www.spectrum-ifa.com/beckham-law-2018/
 
schweiz said:
These tax threads are useless.

For at least 75-85% there will never be a need to move to a lower taxregion. It only makes sense if you make money, enough money...

From the remaining , the majority will never move too (too difficult with family, too far away...), or too lazy to make the step.
I meet in life too much people that told: I wish to move, or I wish to find another job, or I should divorce... But it stays a wish, they never do it, just repeat tgheir wishes over and over again for many years.
Same story with low tax regions.
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I would agree they are useless for 75-85% of wannabe traders as is most general trading advice.

For example, "I wish I could trade" I wish I could find a job in the trading industry" I wish I could divorce myself from my bad trading habits" But it stays a wish, they never do it, just repeat their wishes over and over again for many years. Most people go through life living in fear. Most people are salaried worker bees in reality and in personality.

Only around 40% of Americans have passports and half of those were acquired after 9/11 because they otherwise couldn't travel to Mexico or Canada.

As stated above if you have the funds and are interested in the tax savings and lifestyle change you can just speak to a reputable accounting firm in the respective Country.
 
TraDaToR said:
PWC is doing a full analysis of my personal situation.
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That's the essential part as for each person the situation is different.
There is no one-fits-all solution.

And probably PWC will propose to ask a ruling if the answer is not 100% sure. Price for standard classic rulking is around 5K.

Much cheaper then fighting later with tax authorities.
 
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mh512 said:
Probably very wise to get a ruling , hopefully with some liability, from one of the 'Big 4'.
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If you have a fiscal ruling there is no liability problem. What is mentioned in the fiscal ruling can NEVER be changed afterwards. So the way of taxation is mentioned and also the period for which the fiscal ruling is valid. No tax authority can make additional taxations, unless you did not follow the rules mentioned in the fiscal ruling of course.
 
TraDaToR said:
So true. that's exactly what I am doing for my current relocation to Spain. PWC is doing a full analysis of my personal situation. It will cost me 3K Euros, but a relocation is such an important step in a life and it is so easy to miss something that I prefer to get advice from professionals. Needless to say, there are so much more personal reasons for my move ( girlfriend job, cost of living, lifestyle, surf...) that tax treatment is almost a secondary consideration...
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Where in spain are you going ? Mainland, or one of the islands ?
 
mh512 said:
This area of tax on dividends and capital gains external to Spain is the 'grey' area. Probably very wise to get a ruling , hopefully with some liability, from one of the 'Big 4'.

This from a financial advisor in Spain who claims to have much experience of the 'Beckham Law'.
https://www.spectrum-ifa.com/financial-advisers-in-spain/spanish-tax-2015/the-beckham-law-in-spain/
https://www.spectrum-ifa.com/beckham-law-2018/
More...

Thanks for the links. I'd read short presentations of the Beckham Law a couple of years ago which didn t seem attractive, at least for active traders, not sure of the exclusions for those. Looks good for one with a sizeable offshore portfolio desiring to retire on it in Spain, especially if the requirements to work in Spain are removed - Madrid fan here, will read more about it.
 
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