Come to Poland, at least there is normality here and no tax on cryptos.
Covid19 went straight past here and missed us out. :-)
Also very cheap to live.
No taxes on crypto is appealing, but Germany also don't have any tax on crypto yet :p
Netherlands have 30% and I just like Netherlands, magic truffles are legal there :p
Its normal in Denmark aswell, no more restrictions at all xD
But yes. Its cheaper to live in Poland then any of the other countries I listed
Ok the rate you pay over the income generated through your wealth is indeed 30%, lower than the usual income from work which starts at 37%.
However, it's not the actual interest/profit gained from the wealth but a percentage from your total wealth. Here's the table (in dutch sorry, hard to find on the english page which is a total mess):
what it means is up to ~73k they assume you have 67% savings and about 33% stocks or other income producing assets. they then assume you make 0.07% on the savings and 5.28% on other assets. The more wealth you have they'll assume you have less savings and more assets so you're rate increases. Last row is two rates combined and that percentage of your wealth will be taxed at 30%.
It's kinda complicated with many assumptions, but actually not that bad when you consider the actual gains in crypto and their assumptions :-)
interesting, I'll have a look.. from what I gathered at the source ("de belastingdienst") it's mostly considered under wealth tax for individuals as a speculation investment. which means it's a box 3 tax and the first 50k (100k with partner) is exempt from this particular tax. After that it's just a few percent that's considered profit and on that part you pay income tax, the tax you pay over income is in the 30 range or close to 50 when you earn over a certain amount.
Yeps.. Its totally fucked and way higher than taxes on Stocks x)
I am honestly thinking about moving to another country x)
Come to Poland, at least there is normality here and no tax on cryptos.
Covid19 went straight past here and missed us out. :-)
Also very cheap to live.
No taxes on crypto is appealing, but Germany also don't have any tax on crypto yet :p
Netherlands have 30% and I just like Netherlands, magic truffles are legal there :p
Its normal in Denmark aswell, no more restrictions at all xD
But yes. Its cheaper to live in Poland then any of the other countries I listed
Where did you hear about the 30% for Netherlands? I'm pretty sure that's not how crypto is taxed here
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Just from google. It could be wrong though.
Ok the rate you pay over the income generated through your wealth is indeed 30%, lower than the usual income from work which starts at 37%.
However, it's not the actual interest/profit gained from the wealth but a percentage from your total wealth. Here's the table (in dutch sorry, hard to find on the english page which is a total mess):
what it means is up to ~73k they assume you have 67% savings and about 33% stocks or other income producing assets. they then assume you make 0.07% on the savings and 5.28% on other assets. The more wealth you have they'll assume you have less savings and more assets so you're rate increases. Last row is two rates combined and that percentage of your wealth will be taxed at 30%.
It's kinda complicated with many assumptions, but actually not that bad when you consider the actual gains in crypto and their assumptions :-)
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So if I have a normal fulltime work with 37% tax and I sold 1 BTC (35000 Euro) I would pay 30% on that?
Or is it hard to do like that since it depends on your wealth(or assets)?
x)
interesting, I'll have a look.. from what I gathered at the source ("de belastingdienst") it's mostly considered under wealth tax for individuals as a speculation investment. which means it's a box 3 tax and the first 50k (100k with partner) is exempt from this particular tax. After that it's just a few percent that's considered profit and on that part you pay income tax, the tax you pay over income is in the 30 range or close to 50 when you earn over a certain amount.
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I trust you more if you live there :p
But thats still way better than Denmark where I live, the tax is 57% flat for gains and stimm a 26% tax on losses.