Oh, that is a huge tax, but I hope the cost of buying is deducted before calculating any tax on the sale.
I just read now that we don't have any specific Crypto tax here but income derived from any sources (that includes crypto gains or profits) are subject to income tax and it follows the current taxation in the country which can be up to 35% of the net income which means losses are factored in.
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Yes, so you need to write it all down and specify it.
Aha, ok. Interesting to know.
Spain just devided it into capital gains tax for crypto, stock and others…. and income tax on “work”
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Yes kinda, but not necessarily specifying everything. When I file my income tax returns, I just write "income from main business" and "others" then the amount.
Capital gains are filed and paid separately. Must be done within 30 days after the sale of an asset. While income tax returns are done annually.
I guess they are still trying to make a bill to tax crypto. But if one is so inclined, I think he can file and pay it under capital gains since crypto is an asset :)
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Here they do 😖😖 they want to know everything.
“Others” would not work hehehe don’t think there is even an others spot lol
Yes, they are sure trying… they have no idea how to do this or go about it for now.
They need to change some rules.
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Oh, they are quite meticulous there then. It worked for me doing the others, lol! But I do put a bit there "Others - consulting" then the amount haha.
It seems most governments are still trying to figure out how to do it.
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Yep. Never seen a system like in Spain for tax. I lived in a few countries now, but here they top them all.
lucky you. 😉
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They don't like to miss any opportunity to tax every income hehe.
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Nope… and just get the most out of the people.
Try having your own business here. And what you have to pay… it is unbelievable.
No small business can survive anymore.
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