Hello!
I have a kind of difficult situation I would like to fix, and I write here because I think this is the best place I have found all over the Internet to clarify my doubts!
So I live in Spain and have some decent crypto money I made over the last years by playing poker (had a staking deal and got paid in crypto).
Over the last year it has grown a little bit and I know regulators are coming for Defi, so I want to make it clean as soon as possible. The problem is I cannot justify the origin of it. No receipt, nothing. My staker was an Asian guy whose real name I never knew.
And also I would like to minimize the taxes I end up paying.
I farm on a daily basis. I move it around searching for good yields, etc. It provides a good daily source of income I can compound to my savings. I don't have other job.
My idea was moving to Portugal (weather is nice and very close to Spain) and declare it at 0%.
Problem is I don't have another source of income that I can have as a main source of income, so crypto/farming is definitely my main source of income. I make thousands of small trades across DeFi at the end of the year.
I have thought of a few possibilities, but would appreciate help:
-Staying in Spain and declaring (and paying) taxes. Problem is justifying source of income, plus in Spain you pay for crypto to crypto sell, so it's really difficult to even properly pay taxes correctly.
-Move to Portugal and pay as a professional trader and pay whatever taxes. Not sure if it's even possible or how much would I pay.
-Move to Portugal and create a legitimate something that I can count as my main occupation.
-Move to Portugal and find... a loophole to declare and pay 0% taxes.
-Move to another country. I'm kind of adverse to move to another country (would never move to a cold one like Germany) but I'm open to listen to advice and see if there are another possibilities. I have heard about Malta or UAE, Cyprus,...
Well that's it, hope you guys can share some light!
I have a kind of difficult situation I would like to fix, and I write here because I think this is the best place I have found all over the Internet to clarify my doubts!
So I live in Spain and have some decent crypto money I made over the last years by playing poker (had a staking deal and got paid in crypto).
Over the last year it has grown a little bit and I know regulators are coming for Defi, so I want to make it clean as soon as possible. The problem is I cannot justify the origin of it. No receipt, nothing. My staker was an Asian guy whose real name I never knew.
And also I would like to minimize the taxes I end up paying.
I farm on a daily basis. I move it around searching for good yields, etc. It provides a good daily source of income I can compound to my savings. I don't have other job.
My idea was moving to Portugal (weather is nice and very close to Spain) and declare it at 0%.
Problem is I don't have another source of income that I can have as a main source of income, so crypto/farming is definitely my main source of income. I make thousands of small trades across DeFi at the end of the year.
I have thought of a few possibilities, but would appreciate help:
-Staying in Spain and declaring (and paying) taxes. Problem is justifying source of income, plus in Spain you pay for crypto to crypto sell, so it's really difficult to even properly pay taxes correctly.
-Move to Portugal and pay as a professional trader and pay whatever taxes. Not sure if it's even possible or how much would I pay.
-Move to Portugal and create a legitimate something that I can count as my main occupation.
-Move to Portugal and find... a loophole to declare and pay 0% taxes.
-Move to another country. I'm kind of adverse to move to another country (would never move to a cold one like Germany) but I'm open to listen to advice and see if there are another possibilities. I have heard about Malta or UAE, Cyprus,...
Well that's it, hope you guys can share some light!
