Recent content by cryptovkng

Hi all! I have started a SaaS business which has just recently started generating revenue. I live in a European country and I registered an LLC about 5 years ago which has been pretty much idle since then (basically no revenue, ~$2k in total expenses). I have been working on this SaaS business...

I have not yet made any changes to my business and personal tax situation, and also not looked much more into this. After researching basically every possible solution, I concluded that Bulgaria was in fact one of the better (and easiest) options for me. If the world goes back to normal sometime...

Sorry for the late reply, I have not been logged in for a while. The law firm I have been in contact with is Innovires (Home). When I say "reputable" it's only based on my own experience and what I've heard from a few other people.

https://www.taxpatria.be/how-bitcoins-are-taxed-in-belgium/ Seems like crypto is taxed anywhere from 25% to 50% in Belgium for traders. Even if you are not consider a trader, you might need to pay 33% tax. ".... you are carrying out transactions with a speculative character in the eyes if the...

Yes that is correct I believe. Most countries distinguish between "hobby investors" and "professional traders". If your main activity and source of income is related to trading, you will most likely be considered professional trader and will need to pay (more) tax on your profits. Same goes with...

I feel you are asking the same question for the third time now, I think the article I linked to should clarify.

No corporate tax, but income tax and dividend tax, yes. No issues with paying that.

Read this article for example: https://tax-free.today/blog/cfc-rules/ .. We are getting a bit off topic now. Anyone here that can comment on my questions in OP? I would really like to have some feedback to those questions, thanks!

No, only if the country has CFC rules which states that. Many countries do not have that which means they will NOT tax the company as if it was local even if it's an offshore IBC as described. At least this is what I have understood from everything I've read, if that's in fact wrong then please...

I did ask the layer office and they confirmed it is 0% tax on crypto profits in Slovenia (she was not a lawyer herself though). There are also public documents from the government / tax office confirming this. And yes, it's very clear that active traders will be taxed as income even though it's...

Not sure what you mean, but I don't want to hide anything. I will report everything I own and all my profits/loss according to tax rules. I don't really understand what you mean by that, but to conclude I do happily pay 10% tax for all my profits, the main questions I had was regarding IBC and...

Okay, first of all the main trouble with all this is the relocation and becoming tax resident in a new country, and that I have to do ANYWAY. Paying 50% is just not an option (I did do that last year). If you refer to "ALL this" as opening an IBC company and trade using that company, I strongly...

... I should note that I am aware of CFC rules and how they could impact, but it seems to not be an issue with Bulgaria according to this article: Bulgaria introduces new interest limitation and CFC regimes "Separately, a last-minute amendment in the rules introduced an exemption from the CFC...

Hi all! After researching and reading this forum for weeks I have finally come up with a plan that I think MIGHT work to reduce taxes from crypto as much as possible. (Sorry for the long post but it was a lot to explain..! ) Strategy: - I am currently tax resident in a high tax country in...

That's interesting. Can you explain more how this could be done? What would the structure look like as an example? Let's assume that I must own less than 50% to avoid CFC rules.