Crypto friendly countries

[mikestachurski]

Hi,

If you going to use uncle google or youtube you will quickly find loads of content/videos talking about Crypto friendly countries and very often they are mentioning places like Dubai, Singapore, Malaysia, Portugal, Cayman Islands etc..... but for some reason (and I am hoping to get enlighten here) no on talks about Netherlands where there is no capital gains tax on your crypto profits - any idea why?

M.

 

[backpacker]

mikestachurski said:
Hi,

If you going to use uncle google or youtube you will quickly find loads of content/videos talking about Crypto friendly countries and very often they are mentioning places like Dubai, Singapore, Malaysia, Portugal, Cayman Islands etc..... but for some reason (and I am hoping to get enlighten here) no on talks about Netherlands where there is no capital gains tax on your crypto profits - any idea why?

M.
Click to expand...

Read the full article, think and understand -> Guide to Crypto Taxes in the Netherlands

 

[mikestachurski]

backpacker said:
Read the full article, think and understand -> Guide to Crypto Taxes in the Netherlands
Click to expand...

I am aware of wealth tax which is more like 1.5%-1.75% annually and it is applicable on any asset not only strictly related to crypto. In my opinion it is still better than 15-20% sometimes more (depending on the country) capital gains tax you have to pay and if you offset your wealth with debt you don't really pay wealth tax in NL

 

[TheCryptoAnt]

The issue with NL is that crypto cannot be your main source of income cause then its taxed as income.

And having a job making 100k and then trading crypto for 3 millis wont work the way we want it.

 

[RealDude]

Germany is crypto friendly and tax free. Just search this forum.

 

[Spinat]

Switzerland is crypto friendly, so Dubai is.

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[JJReddick]

mikestachurski said:
Hi,

If you going to use uncle google or youtube you will quickly find loads of content/videos talking about Crypto friendly countries and very often they are mentioning places like Dubai, Singapore, Malaysia, Portugal, Cayman Islands etc..... but for some reason (and I am hoping to get enlighten here) no on talks about Netherlands where there is no capital gains tax on your crypto profits - any idea why?

M.
Click to expand...

Netherlands is deffo not crypto friendly tax-wise, as much as portugal wasnt even before new tax announcement. If your main source of income is coming from crypto, you will be taxed about 45% in both countries (assuming highest braket). Main source of income means even 3 trades a year, as long as that makes the majority of your income. So if you trade pennies and have a stable job, then go ahead, otherwise both countries are to avoid. the misinformation on the topic is incredible. I wonder how many people moved to PT in the last few years and have not realised that they are very likely liable for a massive tax bill and their only hope is the incompetence of the portuguese tax man