Recent content by antani

Thank you. I was also wondering if it is mandatory to get the TIN if someone does not work or has an income below 19500 euro; I'll be travelling for some time and might sell some crypto for a few thousands of euro. I was thinking about Cyprus as tax residence for one year or two.

Does a EU citizen who spends more than 183 days in Cyprus without working need a Tax ID? I know that it is necessary to get the Certificate of Registration (Yellow Slip) at the Immigration.

It should be checked with a tax advisor but I think it should be only on the coins you are staking: if you have 2000 UST and are staking 1000, then on those 1000 it's 10 years; on the other 1000 it's 1 year. But then again, if for example by the end of 2022 someone stops staking and swapping...

Nothing new, I just reported the answers to the @calnana 's questions found on Koinly. On Koinly there is a nice summary about taxation on crypto in Germany; here it is: You'll pay Income Tax when you: - get paid in crypto; - mining and staking; - sell, swap or spend crypto if you have held...

I found the info below on Koinly https://koinly.io/guides/crypto-tax-germany/ Trading with stablecoins A stablecoin - like TrueUSD or EURB, is simply a class of cryptocurrency that offers price stability. That's because stablecoins are backed by a reserve asset, usually a stable fiat currency...

No problem with the proof of source of funds, but what if someone proves that she bought 10 ETH in 2017 and then shows up in 2023 in Germany with 100 ETH made through trading while living in another country? I think that if someone has the list of all the transactions that increased the initial...

Thanks for sharing. Do you know if for people who relocate to Germany they require also documents to prove the transactions made with the initial cryptocurrency bought with fiat? For example, if 5 years ago I bought 1 BTC which I traded for other cryptos and now I have 1 BTC and 10 ETH, do they...

From this calculation it seems that in Cyprus if a private person sells crypto for fiat only the income tax applies (no gesy and no social insurance). Assuming that in a tax year the only income a private person receive comes from the sale of her own crypto (transfer euro from exchange to...

Info on Koinly seems up to date https://koinly.io/guides/crypto-tax-germany/

OP is asking confirmation if in Cyprus stablecoins like USDT or USDC are tax exempt when traded for other cryptocurrencies, and that should be the case as stablecoins are cryptocurrencies; it seems that in Cyprus only crypto to fiat transactions are tax events. Why do you recommend OP to do...

I only had a phone call with an accountant in Cyprus a couple of months ago and he told me: - lack of legislation regarding crypto (every accountant sees things differently); - crypto-to-crypto trades don't generate tax events; - gaining money from staking falls under capital gains and is...

From what I read on their website it seems that BitOasis is a regulated entity in UAE and they support all banks in the UAE except for Mashreq bank and Arab bank: might it be that the reason why it's less of a cause of trouble to withdraw fiat currency (AED in this case) to the personal bank...

Thanks for the advice. But wouldn't bankers in Dubai start asking questions when a private customer regularly deposits cash? For example 10k euro a month? Where I live in Europe it would be very unusual, it's become almost a cashless society.

Thanks, that's good to know. I understand that for regular 6 figures withdrawals a person needs to build some trust with the bank, but what if a customer just wants to cash out only the money he needs to cover his day-to-day expenses? For example a customer transfers 20k euro every 2 months from...

I've been thinking about moving to Cyprus and trade crypto-to-crypto as a natural person (I'm not in a hurry to cash out fiat currency) but then I found out that an EU citizen needs the yellow slip to live more than 90 days in Cyprus: @CyprusLaw can an EU citizen without a job but who has the...