Friend of a friend is a lawyer, he knows lawyers working in big firms in UK/EU who's whole raison d'etre is Tax evasion, not Tax avoidance, straight up hiding millions from the tax men.
If Trump scraps CGT you can throw the old rule book in the bin, all bets are off.
Hypothetically i deposit €30,000 in a CGT free US bank , i am issued a debit card, i return to Ireland and use this debit card, how does the Irish Tax man know anything about this money from a US bank being spent in Ireland?
Failte Ireland will be delighted that American tourists are spending big on their holidays in Ireland.
Regulatory clarity on staking crypto in the UK is coming at the end of the month, legal clarity will hopefully bring old risk averse money into crypto
You forgot the part where you convert the eth to dollars, a cex where they will ask mr dirk for his kyc, then, without having done any transactions a large conversion of eth to usd will sit on hold until mr dirk gets checked out, well mr dirk can you explain where this eth has come from, an eth scan is unclear of the source and seems fairly suspicious, and you haven’t even made it to the bank yet, if you do make it to the bank then same thing , a large deposit into a brand new account where no previous transactions have occurred, let us ring Ireland to see if they know a mr dirk, ahh I see a scam, and a not very good one. Your not cut out for this part dirk, just pay the tax.
You usually post an awful lot of nonsense but this gets the award for the most unrealistic, uneducated rambling!
to do this you'd need accounts with some dodgy exchange that'll let you move in considerable sums without asking it's origins and a bank account/or many accounts to receive it somewhere then that are also not asking. And eventually you'd have to show that you were scammed but everything is traceable on the main coins so you'd have to convert all to something else. (Dunno if I'd believe the untracability claims from some coins now) Probably many, many something elses on yet another exchange that also doesn't connect back to you.
its probably doable, as it's being done, for eg, by that slimey fuker that raked in 10s of thousands spoofing Binance and Kucoin users over the last 10 days but theirs a fair bit into it beyond normal average folk. Theirs state help involved in all that scamming. Them bots are cleaning up!
I wouldn't be surprised if CGT was ditched in the US, temporarily even just to get out all the money from the weekend. It's kinda wild how blatant things are.
Firstly, you're speaking about the EU like as if it's a country with a single CGT policy! Each country sets it's own rates and exemptions. Rates currently range from 0% to 42%. Anyone can already legally move to a 0% jurisdiction within the EU and cleanly dispose of their investment so long as they follow the rules.
Secondly, the USA already has a generous CGT exemption of about €40k. It cannot be availed of by non-residents because you are taxable in your country of residence. If the US permitted it then they can wave goodbye to any kind of tax treaties or assistance with identifying US tax defaulters abroad.
Thirdly, you will need a bank account to ultimately receive or spend the proceeds as virtually nobody exchanges physical goods for crypto. When you open the account you need to declare you residency for AML purposes and taxation treaties make that reportable. Even if you could exchange directly for goods then you can't come back to Ireland with those goods or you'll need to be able to show how you got them based on your income or risk seizure.
Fourthly, your proposed tax evasion means you can never return to Ireland rather than taking one of the numerous other legal avoidance options that mean you just have to follow tax residency rules before your disposal and then you're free to return to Ireland if you so wish.
Well said, so much delusional crap being posted here.
You could still visit Ireland
I would feel similar if it was 10-15% CGT, absolute mad 20%. 33% is a third of my profits, profits that are a result of my hard work to earn income (which was already taxed) and save enough to have money to invest with and then ultimately the risk that I decided to take with said money. It is so socialist to take such a hefty amount of my profits, and I think the tax should reflect the fact that the CGT I pay is extra tax that otherwise wouldn't have been enabled if not for my success. We can't even properly use our misses like in other countries as well to add insult to it all.
kisses
You live in a country that is slightly socialist. Not a bad thing. There are loads of supports should you fall on hard times (hell even if you're thriving). There's a cost to that and I don't think CGT is a bad cost.
Ireland is arguably one of the best countries in the world due to a combination of socialism and capitalism. It works well. American opportunities with a European lifestyle. It's perfect.
I do think the threshold should be increased a bit. It's been a long time. Maybe 5K then index link it. However it's a small amount really.
They should remove deemed disposable and encourage better financial literacy from an early age though.
CGT is definitely one of the fairest taxes you can have from a philosophical point of view. And I say that as someone who has accrued more CGT liability in the last year than income tax paid.
I wouldn't argue against an inflation index adjustment now, but apart from that it's philosophically fine.
The ease at which the 33% cgt is accepted on here by some folk is testament to the governments conditioning of Irish citizens.
I know! I'll be thinking in a similar way to Dirk!
It is absolutely a bad thing when we're being forced to fund bullshit like this
Individuals who either don't work or pay very little in taxes as lower earners hitting the jackpot and having brand new €700,000-€950,000 apartments given to them for token rents. How many here who are breaking their arses trying to get ahead can afford to buy or rent such places? You'd need to be earning €175,000-€237,500 to afford these places. We are being laughed at, and people are eating **** from the government with such sentiments towards these socialist ideals.
By all means, keep CGT and even threshold it so the average person doesn't pay the same as someone earning massive amounts, but 33% is complete robbery. Also, CGT is a relatively tiny tax bracket even with all of this, it annually contributes only 1-2% of the overall exchequer funds, so all these ideas of it being philosophically justifiable and sticking it to the wealthy elite are pointless. As it currently stands, it is a disincentive for a lot of people, along with deemed disposal and the atrocious taxation of ETFs.
...
https://m.independent.ie/business/technology/gemini-moves-hq-from-dublin-to-malta-in-blow-to-irelands-reputation-as-european-regulatory-hub-for-crypto-industry/a1004095595.html
Every time Makhlouf opens his mouth I question how he made it in life. Reminds me of Ernest, Ernest saves the CBI!
Ross Ulbricht released, listening to the Bitcoin magazine talk he gave he should be quite interesting to hear from.
..
https://www.rte.ie/news/2025/0122/1492158-trump-pardons-silk-road-mastermind-ross-ulbricht/
Absolutely disgraceful. He's not good person. Just because his site used Bitcoin as payment doesn't mean he should be getting this god like treatment.
We are talking hypotheticals and you are banging on about the current laws, if Trump scraps CGT on crypto there will be other changes no doubt.
The 3 of you suffer from some type of aphantasia and cant deal with hypotheticals 😂😂😂
The dude is harmless, no threat to society, if you come around to the idea that the police pretty much coerced him into wanting someone dead then all he did was create an anonymous website.
Just trying to keep you outta jail dirk, they have no internet connection in there and you would be a great loss.
I thought he put hits out on people but nope they made that sh1te up aswell.
was it found to be totally made up? I thought it did take place but was coerced, the police in the US have great fondness setting up crimes and coercing people to take part, doesn’t seem to happen in Europe much but they don’t seem to give a sh1t in the US that’s its entrapment.
no evidence.
trump needs to free all the innocent people. shut the prisons and open mental health units and stop people with type 1 diabetes dying cuz they can't afford healthcare and stop talking shite about the border which he already used for 4 years and tax me arse.
Which would you think would be philosophically better for society? Tax incentives to invest in businesses that increase employment and economic output, or going to 0% CGT on Real Estate investments so that those who already hold it can get a massive jump from the artificial inflation, and the very wealthy can use it going forward as a vehicle to increase that wealth tax free?
If you have an issue with deemed disposal, you can easily avoid it by just having a diversified portfolio of individual stocks. You don't need to replicate the index exactly. Even if you want to track it somewhat you can rebalance somewhat without selling and buying while you are still paying into it. You may not want to track it exactly anyway as you might have your own views on certain sectors and want to take a strategic approach anyway.
The foregoing may not be applicable to everyone as many people will not have the overall pot to enable them to do that easily, but surely all ye crypto millionaires could do it easily enough if you wanted to cash out to evil fiat.
The irony is that you appear to be bitter at those who are getting things for free …….. but yet you want the rules to be changed so that you don't have to pay in (or at least don't have to pay in as much).
.…oooh nice
https://cryptoslate.com/47m-bitcoin-wallet-linked-to-silk-road-founder-re-surfaces-after-a-decade/
What is the point of that strawman, it makes no sense as I haven't suggested eliminating CGT.
Also, how is that irony? Yes, I want to pay less taxes to fund less free **** for people who are entitled to these things that us in the squeezed middle are funding yet excluded from. So I can use my own extra money that would save me to improve my own quality of life. Why should anyone here accept a system that's made it increasingly harder for us to rent or buy homes while people who contribute the least towards the funding of the country hit the jackpot and get into brand new homes like the ones shown above? It is outrageously unfair.
![Photo of [Deleted User]](https://w8.vanillicon.com/v2/877aa92d1fda3704e03b5aa206affea2.svg)
