No Scorpy. In Serbia, 15% cgt on crypto means in this case: 5000*.15=750$. That's if you can pursade the stone age taxman that your purchase price was $50000.I lived in Cyprus for over a decade, and I have a parent there still. Personally I live in one of the Balkans counties now, which is where I'm originally from (and the only passport I have).
With crypto being down now, I'm thinking of getting some $5.000 of crypto and waiting for the next bull run. I should be able to cash out anywhere from $10,000 to $50,000 or more, depending on how lucky I get with the cryptos I buy.
That said, I wanna do it legit...
In my country the tax on crypto is 15% on your profits. So if you bought $5,000 and cashed out $55,000, you'd pay 15% on the $50,000, which is $7,500
I got a little excited when I found out there's no tax on crypto in Cyprus, as I could do through my parent and make out with no tax. However, after realizing that when it's all said and done we'd still have to pay the income tax, it would cost even more, depending on how much my parent already earns from their job and how much I cash out in the end.
But, the taxman is the least of yout worries. No bank in Serbia would ever allow the incoming wire transfer, irrelevant of your wish to pay taxes.