Best country to cash btc out in?

[Satoshi]

Yes crypto to crypto trade and any capital gains or profit made are typically taxable...this is common sense, and same in most western countries. At same time crypto to crypto losses can be used to offset those gains ;-)

With a bit of financial engineering you can offset those gains with artificial or purchased loses and reduce your tax bill. How that works is you buy and take over somebodies crypto account (i.e bitconnect...lol) that has been wiped out and made huge loses equal to your gains. You then sell your crypto and claim the loses you bought to offset your gains and end result is zero tax.

I do not recommend doing this however. Tax authorities are clamping down on this sort of financial engineering activity.

Really? They are actually looking for this type of behavior? Maybe in the future

 

[Martin Everson]

Really? They are actually looking for this type of behavior? Maybe in the future

Yes they are looking at this now. It requires no more work for taxman than looking at same financial engineering carried out with securities.