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Crypto high 6 fig with no source of funds no tax returns looking to offramp

#144
#145
MrTambourineBTC said:
Well if I want a permanent solution to my ever growing crypto portfolio "problem" at some point I'm going to have to leave. There's no other way around it.

The only way they could hurt me with an audit would be by linking 15-20k of yearly expenses for the last 4 years (through nexo/crypto.com debit cards) with wallets from which I made the tx to crypto.com/nexo, and then accuse me of those being my wallets. Afaik that is unheard of right? How can they prove those wallets belong to me. Afaik wallets (at least until mica comes into play in a few days) are pseudonymous...

I've been quite anxious since I read that message of yours about 030 + high risk of audit tbh
I felt that worst case scenario I go to Portugal and have to sell my house but that's about it, but if you add the added risk of getting audited that's pretty bad. Still can't figure out what to do.
You seem to mention that other destinies like Panamá would make me less likely to get audited, that would be cool but sadly it's not really an option for me.
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Aren't those debit cards in your name or is there a way around that?
I think if they are issued by an EU-based issuer they might share your data with Spain.
 
#147
daniels27 said:
Buy a used car, sell it in cash and add some more.

Buy some cryptos with cash, sell them use the transaction record to withdraw the money from coinbase to 5 different bank accounts.

Move some money offshore to an account. Repeat. But a plot of land, build houses, sell it.
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where would you buy the cars and crypto? just where you live or is there a country better than other?
 
#148
MrTambourineBTC said:
Perhaps I wasn't stressing enough my main concern is being able to eventually offramp. (Portuguese tax man is not a concern plus some tax benefits for crypto. Spanish if you start to file tax slowly on the A money shouldn't be a big concern if I don't do anything stupid. I could potentially go somewhere else in a 3-4 years.)

I was thinking of depositing my 50k of taxed money in binance/kraken and from there for a few years build credible tax reports with legit source of funds while growing the portfolio agai,

And hopefully/eventually find a legit way to add to my A portfolio funds from the other portfolio in a sensible manner. That's just the option that makes the most sense for now but I'm sure I'm missing many other good possibilities.
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Problem - even if you so called legitimize it governments are utilizing tracing, that allows them at the whim to track the funds back and then they can seize all the funds.

I.e right now the US wants BTC at neutral, that means they will seize to secure their BTC and tax evasion is a easy option, other countries will do the same, either for tax (EURO) or for BTC/Stock piling.

So you could get your funds out and then 10 yrs later be charged with tax evasion, money laundering and have everything *your home* etc seized.

You fucked up, see if you can pay tax for the initial 30k (you said you have 50k) with fines that will cover that, and then your funds are clean, and you can then (if you've not traded them) bring them out.

If you take out the 650k then you are fucked.
If you pay the 30k + fines (plus possible prison) then your funds should be clear of claim, and you can withdraw those and pay the taxes on.
 
#156
#157
mytoofood said:
I haven’t read everything on the page you referred to, but does that mean he doesn’t have to pay any tax if he buys gold in Switzerland and then transports it to, for example, Spain or France?
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In Switzerland in believe gold in the form of bullion or coins is exempt from VAT. Other precious metals including silver, palladium and platinum are NOT exempt unless purchased then put into a bonded warehouse.

There's another post on this forum in which people say crypto to gold can be done in Switzerland, if true you then don't need to go to Dubai as I suggested above if your final destination is France or Spain.
 
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