Recent content by Var12

Fake? What’s so strange about my question? People here often talk about how to set up companies, so an external reader might assume that many here handle a lot of money. If you don’t have credible businesses worth discussing, refrain from commenting.

People often discuss how to set up a company, but rarely how to actually make money with a real, easy-to-manage business. Based on your experience, what are the most effective business models today? If you had to recommend a profitable and simple business to run, which one would you choose and...

@Martin Everson If the stated decision is to disregard accounts with an average balance of less than 10k, it means they are not acting as you claim.

The stated reason is data management, which indeed must be considerable. Just imagine how many accounts there might be to monitor, a truly impressive amount of data. However, a 10k average balance is an insignificant amount, especially for those aiming to target tax evaders truly deserving of...

As mentioned, the $10,000 limit applies to EMIs, not crypto.

see under CRS: https://www.taxathand.com/article/26989/OECD/2022/OECD-releases-final-guidance-on-Crypto-Asset-Reporting-Framework-CRS-amendments

The Directive of 17 October 2023, amending 2011/16, requires careful and thorough reading. It is not enough to rely on summaries alone, as the text clearly distinguishes between "electronic money" and "crypto." It is important to note that the $10,000 USD threshold applies exclusively to...

I have found additional information. @Forester has pointed out that EMI accounts with an average balance below 10,000 USD will not be reported, according to DAC8 approved by the EU Council on October 17, 2023. This will be effective from January 1, 2026. This detail is crucial and should not be...

Hi everyone!! I’ve come across several discussions suggesting that under the CRS, accounts with an average balance below 10,000 USD are not reported. However, there seems to be some confusion regarding the timeframe for calculating the average balance. some sources mention it refers to a year...

Has been said that bank accounts should be emptied by December 31 to avoid the CRS report of the end-of-year balance. Now, in some recent posts, I read that this isn’t the case and that emptying accounts by December 31 is pointless. What is the truth? What should one do?

I have stablecoins on a hardware wallet. If I send everything to an exchange and immediately convert everything to fiat, and withdraw to an atm, will I be flagged?

I’m back on this great forum with two questions: 1) Do crypto exchanges apply CRS (Common Reporting Standard) to stablecoin accounts? 2) What’s the best and least expensive way to convert 30k stablecoins to fiat, even gradually, for example, 1k per month?

I renew the question, I am looking for EMI with IBAN GB, DE, BE and other Central European countries. Thanks in advance to everyone who will help me!

Anyone use Wirex? Can you receive bank transfers from third parties?

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