hi!
I am Spanish fiscal resident and I've been Hodling crypto for some time. I bought it with the money from my salary, making bank transfers from my bank to the exchanges (with KYC).
There is a tax in Spain (Wealth tax) that you pay according with the balance you have the last day of the year. Starting at +400K euros, depends on the region.
I suspect that, in few years, the crypto exchanges might be forced to report historic user activity to the fiscal authorities with retrospective... What do you think about that?
So, if the prices continue to grow, I would have to pay that wealth tax.
What do you suggest me to do? Maybe transferring the crypto to a shell company?
Maybe what would generate a taxable event...
What do you guys suggest me?
Thanks for your help!
Ps.This is my first message and I want to congratulate everyone for this great community
I am Spanish fiscal resident and I've been Hodling crypto for some time. I bought it with the money from my salary, making bank transfers from my bank to the exchanges (with KYC).
There is a tax in Spain (Wealth tax) that you pay according with the balance you have the last day of the year. Starting at +400K euros, depends on the region.
I suspect that, in few years, the crypto exchanges might be forced to report historic user activity to the fiscal authorities with retrospective... What do you think about that?
So, if the prices continue to grow, I would have to pay that wealth tax.
What do you suggest me to do? Maybe transferring the crypto to a shell company?
Maybe what would generate a taxable event...
What do you guys suggest me?
Thanks for your help!
Ps.This is my first message and I want to congratulate everyone for this great community
