So at what point are you going to sell? Surely someone as savvy as yourself has an exit strategy?
Next Bull run. No point selling in the next few years unless we go parabolic.
When I am no longer living in Ireland, would be the main criteria.
Where would you move to? I see Portugal have announced they're beginning to tax crypto very soon. No figures from them yet but their current CGT is 28% so might be something similar to that.
It's not really a great strategy tbh. You might be lucky but you might not. You'll have had to make sure you are abroad long enough so that you are not liable for tax in Ireland ....... but it ain't exactly something you can time really. Fair enough if you want to move somewhere permanently, but if you just want to go somewhere else to cash out and then come back ..... well you could serve 95% of the time in the other place and have the price crash then.
I had that conversation with someone on boards.ie (I think with the same poster) before who was adamant that they planned to go to NZ to cash out ..........which is all grand ........... except NZ tax crypto gains.
Got annoyed with me when I pointed out there didn't appear to have been much research into the plan
NZ via Greece.
Doesn't Ireland have laws regarding residency where you just can’t leave and say I no longer owe Irish taxes, revenue will look at three years to determine what kind of residency you have. And if you bought crypto while in Ireland, is it considered an Irish “asset”.
You have to be living in another country for (I think) three years in order to get away from paying Irish CGT. I'm not 100% on the three years part, it might be longer, so I'm open to correction on that.
Yes it does, but if someone is emigrating permanently, they might want to consider how financial institutions reporting obligations work in practice and what the implications that flow from that are.
If you move outside the EEA you're fine, but inside the EEA not so much as there are agreements between all the countries
NZ isn't very crypto friendly when it comes to taxes but Greece is an interesting one, I don't see their name mentioned too often. Malta and Cyprus (and Portugal, for now) are the friendliest when it comes to taxing crypto in europe, might be worth checking them out if you're mainly moving to reduce your tax bill.
Get one of Elon's rockets to Mars during the next upswing. I'd like to see revenue try and claim their GGT from there.
...
I'm pretty sure Germany is tax free for Crypto, and there was one recently that announced it, to entice people, but can't remember where.
Belarus is another, but I think that law is open to be changed next year, although they are expected to continue with it as is.
I wouldn't be in too much of a hurry to move to Belarus myself. Particularly if you are going there with the expressed intention of cashing out valuable assets .........
Plus there's also the fact it's a shithole puppet state for Russia and condoning their war
They were a little ahead of the rest in recognising smart contracts as legally enforceable but I'd be worried that ya might find yourself locked up on some conspiracy charges that might only disappear in return for an oul key.
I wasn't planning on going there... Maybe a sun holiday 😜
Nah, was just mentioning it as another place in Europe-ish for somewhere that has tax free crypto laws, although that law may change.
If I was looking at anywhere it would be Germany or Portugal, but I reckon South Portugal, but away from Albufeira and where all the Brits are turning it into a new Benidorm.
Why are people holding tether???
Reading up on luna the last few days, and the history of guy who set it up and potential fork....why were people holding that either!!!!
Kind of a random one but I think the island of Jersey, between the UK and France does not tax crypto gains for individuals just buying and selling for their own account.
https://www.gov.je/TaxesMoney/IncomeTax/Technical/Guidelines/pages/cryptocurrenciestreatment.aspx
Just bought 1 billion coins of that Shibi Inu coin one. Seems like extremely good value getting a billion of anything these days with the high inflation. Hope it goes well before too long anyway
This is not a good time to buy alts. They are going to get rekt over the coming months. Expect another 50% pullback on alts over the next 3-6 months.
Yeah but a billion for them for €10k seems good value. Was going to buy a car but got these billion coins instead
At least you have your priorities straight..... 🤣
How can you be so sure?
Some TA indicates a pullback of 30-50%, but those same TA also indicate a return to ath soon after the pullback, personally I believe we've hit bottom.
Options now are to hold off buying until the predicted pullback, if it does occur. Or take this as bottom and buy now. Probably the most sensible approach would be to buy now but holdback some cash in case there is a bottom of the bottom
So you're saying it could go up but could go down
I think I bought at the bottom and I might sell half a billion coins if they double.
well I wouldn't be that confident, but maybe
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