Hey there!
I asked some questions about taxes a couple years ago and last year also. My situation remains the same but recently I've realized my biggest problem is not the tax man (plan on finally moving to Portugal from Spain end of this year so that from 2025 will be Portuguese tax resident), but bank compliance.
I have a bag of lets say, taxed money, 50k€, comes from donations.
And I have a bag of crypto money, 350k$, that comes from my activities in crypto in these last 3-4 years. I started with about 20k of winnings from poker (it was my job from 14 years, bought a house through a donation that I repaid in cash withdrwaing anonymously from BTC atms), and so those 15-25k$ initial were the leftovers I had when I went full into crypto.
I think the Portuguese tax is not that difficult.
My biggest problem I realize now is that the banks will ask typical questions such as: what is your income? show me a bank statement with a salary. where is the source of funds of these crypto winnings, and so on.
I have no idea how to solve this at all, so I think I would need to get somewhat creative. I also think the sooner I start the better cause otherwise the money will go to much bigger proportions and i will have a much bigger (good) problem.
Any ideas on how to approach these will be welcome. Never had a tax return, never had a "real job", never paid taxes on my poker winnings, so really to the real world I have no income, salary, or proof of wealth.
This is my first thread here in Jan '22:
There I explain I had a deal with a chinese guy that paid me in crypto,so it's not like I played poker in European normal poker sites. i was playing in Chinese apps with play money that then under the table meant real money lol
I mention there that I wanted to clarify my situation. I wish I had done it earlier!
https://www.offshorecorptalk.com/threads/crypto-taxes-and-farming-moving-to-portugal.36183/
I asked some questions about taxes a couple years ago and last year also. My situation remains the same but recently I've realized my biggest problem is not the tax man (plan on finally moving to Portugal from Spain end of this year so that from 2025 will be Portuguese tax resident), but bank compliance.
I have a bag of lets say, taxed money, 50k€, comes from donations.
And I have a bag of crypto money, 350k$, that comes from my activities in crypto in these last 3-4 years. I started with about 20k of winnings from poker (it was my job from 14 years, bought a house through a donation that I repaid in cash withdrwaing anonymously from BTC atms), and so those 15-25k$ initial were the leftovers I had when I went full into crypto.
I think the Portuguese tax is not that difficult.
My biggest problem I realize now is that the banks will ask typical questions such as: what is your income? show me a bank statement with a salary. where is the source of funds of these crypto winnings, and so on.
I have no idea how to solve this at all, so I think I would need to get somewhat creative. I also think the sooner I start the better cause otherwise the money will go to much bigger proportions and i will have a much bigger (good) problem.
Any ideas on how to approach these will be welcome. Never had a tax return, never had a "real job", never paid taxes on my poker winnings, so really to the real world I have no income, salary, or proof of wealth.
This is my first thread here in Jan '22:
There I explain I had a deal with a chinese guy that paid me in crypto,so it's not like I played poker in European normal poker sites. i was playing in Chinese apps with play money that then under the table meant real money lol
I mention there that I wanted to clarify my situation. I wish I had done it earlier!
https://www.offshorecorptalk.com/threads/crypto-taxes-and-farming-moving-to-portugal.36183/
