Navigating Crypto Tax Issues in Europe

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diamondhandsHero Member
Posts: 203 · Reputation: 2112
#1Jan 17, 2021, 07:46 PM
So my family and I are EU citizens. It feels like banks and governments are just waiting to pounce on crypto holders like a dog on a steak.
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chris2016Member
Posts: 73 · Reputation: 61
#2Jan 20, 2021, 01:33 AM
Yeah man, if I drop a big chunk into BTC like 15-20k, I’m pretty sure the tax office will come knocking. I can’t risk that, it’ll mess with my job.
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planktonHero Member
Posts: 1287 · Reputation: 2049
#3Jan 20, 2021, 04:29 AM
If you keep your crypto off exchanges and use a good hardware wallet, no one can touch it. Your wallet and your mom's wallet are basically the same if you hold the keys.
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diamondhandsHero Member
Posts: 203 · Reputation: 2112
#4Jan 20, 2021, 07:24 AM
But think about it, if the tax guys do come, saying this wallet is mine and that one is my mom's might not hold up. Just saying.
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0xLordSenior Member
Posts: 12 · Reputation: 1807
#5Jan 20, 2021, 12:36 PM
Check out some payment services in Europe. You can create multiple wallets to avoid drawing attention. Just stay under the radar.
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diamondhandsHero Member
Posts: 203 · Reputation: 2112
#6Jan 20, 2021, 01:19 PM
Honestly, I don’t know what scares me more. Missing out on gains or getting hit with massive taxes.
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chrisbyteNewbie
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#7Jan 20, 2021, 03:31 PM
Investing in BTC under government radar just can’t happen without them knowing. They’ll track any big withdrawals.
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diamondhandsHero Member
Posts: 203 · Reputation: 2112
#8Jan 20, 2021, 05:09 PM
You sound like you have a solid plan. But what if it backfires? Tax evasion is serious in many countries.
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planktonHero Member
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#9Jan 20, 2021, 08:30 PM
I'm in Belgium. Yeah, they’re going for crypto with hefty taxes. Evasion is criminal here.
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Posts: 287 · Reputation: 84
#10Jan 20, 2021, 11:02 PM
Legally avoiding taxes is one thing, but if I send BTC to my mother-in-law, that’s a gift. Not taxable, right?
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0xGasMember
Posts: 292 · Reputation: 52
#11Jan 21, 2021, 02:49 AM
Can you really stay anonymous with altcoins and just trade on DEXs? What about immigrants trying to deal with the law?
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diamondhandsHero Member
Posts: 203 · Reputation: 2112
#12Jan 21, 2021, 02:57 AM
This taxation stuff is just gonna kill adoption. Bitcoin deserves to be mainstream.
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#13Jan 21, 2021, 06:57 AM
Governments wanna control the value of Bitcoin, and they’re gonna fight for it.
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planktonHero Member
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#14Jan 21, 2021, 09:37 AM
I’m not saying evade taxes. But if I sell my crypto in 15 years, I’ll get advice on how to minimize taxes.
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AtomicForkFull Member
Posts: 353 · Reputation: 479
#15Jan 21, 2021, 11:14 AM
Dude, stop reading random articles and check your local tax laws. You’re making it sound way worse than it is.
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planktonHero Member
Posts: 1287 · Reputation: 2049
#16Jan 22, 2021, 11:47 AM
Real talk, I’m not even sure what’s going on. Is the IRS really visiting homes in Europe?
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0xSatNewbie
Posts: 92 · Reputation: 11
#17Jan 22, 2021, 02:16 PM
You should calm down. You seem to misunderstand wallets and could lose everything trying to manage two accounts.
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planktonHero Member
Posts: 1287 · Reputation: 2049
#18Jan 22, 2021, 06:32 PM
I’m a self-employed physician, so I know how taxes work here. The tax office is on you if they come knocking.
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0xSatNewbie
Posts: 92 · Reputation: 11
#19Jan 22, 2021, 08:57 PM
Happy to hear you’re in a country with no crypto laws. Must be nice to avoid those crazy taxes.
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chris2016Member
Posts: 73 · Reputation: 61
#20Jan 22, 2021, 10:01 PM
No one thinks you're a criminal for using Bitcoin. People will always look for loopholes when taxes are high.
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