Crypto-to-crypto transactions are not taxed in Poland & Germany!

[antani]

uplana said:
I can only agree with this advise. Don't be foolish and do business without to have a LTD.
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OP is asking confirmation if in Cyprus stablecoins like USDT or USDC are tax exempt when traded for other cryptocurrencies, and that should be the case as stablecoins are cryptocurrencies; it seems that in Cyprus only crypto to fiat transactions are tax events.

Why do you recommend OP to do crypto-to-crypto transactions through a limited company if in Cyprus such transactions are not taxed?
Probably OP wants to accumulate coins doing some crypto-to-crypto transactions and converting the crypto in stablecoins when the crypto market goes down.
Maybe OP does not need cash now or in the near future and wants to wait for the next bull run to exchange crypto for fiat.

Another country in the EU where crypto-to-crypto transactions are not taxed is Poland; also Germany if you hold a coin for at least one year, even if exchanged for fiat - a tax haven for crypto investors.

 

[clemens]

antani said:
Another country in the EU where crypto-to-crypto transactions are not taxed is Poland; also Germany if you hold a coin for at least one year, even if exchanged for fiat - a tax haven for crypto investors.
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that is pretty new to me. That means, in Germany, you buy or receive your cryptos, keep them in your wallet for 1 year and you get not taxed in that time nor you get taxed if you exchange your cryptos after that year ?

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[antani]

clemens said:
that is pretty new to me. That means, in Germany, you buy or receive your cryptos, keep them in your wallet for 1 year and you get not taxed in that time nor you get taxed if you exchange your cryptos after that year ?
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Info on Koinly seems up to date

https://koinly.io/guides/crypto-tax-germany/

 

[JohnLocke]

Interesting topic, I have moved your posts into a new Thread with the better title matching this discussions main topic.

What if you alreay own 5 - 10 BTC, relocate to Germany, wait 1 year and after that period cash out your BTC - would it still be tax free in Germany?

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[clemens]

antani said:
Info on Koinly seems up to date

https://koinly.io/guides/crypto-tax-germany/
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thank you for the information, will have a read. It's quite interesting.

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[RealDude]

clemens said:
that is pretty new to me. That means, in Germany, you buy or receive your cryptos, keep them in your wallet for 1 year and you get not taxed in that time nor you get taxed if you exchange your cryptos after that year ?
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This also applies to shares, etc.

 

[uplana]

RealDude said:
This also applies to shares, etc.
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What do you mean with "etc" what other it applies to?

If that is all true, why not more wealthy crypto and investment Kings move to Germany before they exchange their investments / assets and live a tax free life in Germany?

Something sounds not right with this story?

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[RealDude]

uplana said:
If that is all true, why not more wealthy crypto and investment Kings move to Germany before they exchange their investments / assets and live a tax free life in Germany?

Something sounds not right with this story?
Click to expand...

This does not apply to day traders. The law is intended for retirement planning where you trade for the long term.

 

[uplana]

RealDude said:
This does not apply to day traders. The law is intended for retirement planning where you trade for the long term.
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okay that is clear.

But, say I'm holding 20 BTC! In my country I will get taxed just by having them if the auth. knew I had them. If I exchange them to FIAT I will get taxed 40%.

Now, say, I shut all down where I live right now and move to Germany, wait 1 year and exchange my BTC to FIAT, that would be tax free?

It means 20 x 36K EUR = 720K tax free euro in my pockets, that would be awesome.

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[clemens]

I will contact an accountant in Germany to see if he can confirm this to be true. If so, there has just opened a door for me to some really nice tax free living for the next 3 years cig-:,

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[JohnLocke]

clemens said:
I will contact an accountant in Germany to see if he can confirm this to be true. If so, there has just opened a door for me to some really nice tax free living for the next 3 years cig-:,
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Have just finished my email and send it to an Steuerberater in Germany for the same, you were faster to post here 😉

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[RealDude]

Tax gap”¦

https://www.juhn.com/fachwissen/gmbh-steuerrecht/kryptowaehrungen-nach-lending-steuerfrei-verkaufen/

 

[uplana]

What does "Lending" means in this context? They also talk about forming a company as a mandatory part if the crypto comes from "Lending".

I would like to stay with my crypto personal and avoid personal income tax if relocating?!

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[clemens]

uplana said:
I would like to stay with my crypto personal and avoid personal income tax if relocating?!
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3.4. Verkauf außerhalb der Spekulationsfrist: Steuerbefreiung​

Liegt hingegen zwischen dem An- und Verkauf von Kryptowährungen mehr als ein Jahr, ist die sogenannte Spekulationsfrist abgelaufen und die Gewinne sind komplett steuerfrei. Dabei ist die genaue Höhe unbeachtlich.


Dennoch ist man zur aufwendigen und lückenlosen Dokumentationspflicht verpflichtet. Daher sind bei Aufforderung seitens der Finanzverwaltung Nachweise über den An- und Verkauf inklusive Kursangaben sowie weiterer Details vorzulegen.
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It's pretty clear you get not taxed, but how it will be if you relocate and take your coins with you from country A to B, wait the year and sell... I don't know.

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[ih8socialism]

clemens said:
It's pretty clear you get not taxed, but how it will be if you relocate and take your coins with you from country A to B, wait the year and sell... I don't know.
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But staking will get you taxed just a fyi

 

[CoinMaster]

ih8socialism said:
But staking will get you taxed just a fyi
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it is not the same as buy coin keep it for 1 year and sell it tax free.

Imagine if you bought 50 btc in 2013 kept them til 2021 and sell them tax free in Germany, so you would have been a millionaire without paying tax, enjoy life!

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[ih8socialism]

CoinMaster said:
it is not the same as buy coin keep it for 1 year and sell it tax free.

Imagine if you bought 50 btc in 2013 kept them til 2021 and sell them tax free in Germany, so you would have been a millionaire without paying tax, enjoy life!
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Yes I know, I just wanted to add that everything you stake or yield any interest / rewards for will get you taxed for that specific coin / token.

 

[clemens]

I got it confirmed yesterday from an account.

If you already own the coins and have some document that can proof when they are bought, and the period is more than 1 year since, then you can exchange them to money tax free in Germany.

It means, relocating to Germany to cash out your cryptocurrency can be well a ultra valuable way of avoiding taxes on your crypto.

The tax advisor also said, it doesn't matter how long you have lived in Germany, theoretically you relocate to Germany, cash out your coins, and can move on to the next country.

As I understand it, it will not be feasible to move back to the country you came from since they will tax you. But you could use the money for investment in another project.

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[JohnLocke]

Thank you for the information @clemens - could you PM the name of the tax advisor please? only if you don't mind, also the original message would be fine, I would like to verify that this indeed is an options that can be worked on.

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[clemens]

PMed you all details, don't worrythu&¤#

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