What is the threshold for a criminal offense in Romania?
Might be worth evaluating your exposure year by year.
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I did it all wrong...what can I do now? :(
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Might be worth evaluating your exposure year by year.
volume will also be reported in crs, like what comes in and out and final balance of course.
You could have been gifted 50k by your friend and have spent it all in the casinos might be possible.
https://www.rolegal.com/lawyers-tax-evasion-romania
https://www.romania-insider.com/iohannis-law-tax-evasion-apr-2021
Hence why I asked whether amount was above or below 100k in taxes he avoided.
You should also consider the statute of limitations in Romania.
The statute of limitations period is 5 years, starting from 1 July of the year following that to which the tax
obligation is related. However, in the case of fraud, the statute of limitations can be extended to 10 years,
starting from the date when the criminal offence occurred. The statute of limitations is suspended during a fiscal inspection period.
it's not like he's already wanted by the Interpol
lol. feels like an overkill. I'd go for an option to reach out to his tax authorities, and ask to settle down the tax debt, then break it down to payments, and pay those taxes for the next 5-10 years. This way he both helps his country budget, and sleeps well. After all, the country budget probably pays his grandma pension, and so on, so forth... no reason to run away like from Interpol....Not sure why you want to keep that Revolut account and why it seems important. Just withdraw everything and close it, even if it'll report, you can simply spend the next few years travelling or whatever. Can cash out crypto in any country almost, also can easy get residency in many countries with little to no questions, like Montenegro if you register a company only asks your criminal record and passport, that's all (cost 300 Euro) then you extend the residency permit every year, very simple. Can also travel back and forth, no need to stay in the country. Also good option is Thailand, local banks and tax authorities don't care too much about taxing you or asking questions, all they want is that you spend your money here, and not take work places of locals (so the strictest penalties are if you're caught doing a local job that foreigners are not allowed to do, like tour guide etc'. as long as you keep working online, they don't mind, you can declare taxes and pay taxes here properly starting from first year of residency but they won't ask about money you bring into country, they are good with any amount of $$$ entering the economy through foreigners who bring money in). I was not asked about source of funds, when bought a house in Montenegro, and when bought a condo in Thailand, no questions at all, I was surprised a bit, they really don't care where the money came from. And I used Wise.com to pay in both occasions lol, from my American bank accounts. Well, in my case all my money tax is paid properly and earned properly (Bay Area tech startup jobs for the last 4 years...) but still, was never asked even for a bank statement
not during immigration and not during visas applications or opening bank accounts (in both Montenegro or Thailand)... the Thai bank just asks to deposit 500$ for 1 year (locked) and you get a proper account with debit cards. For now my plan is to spend summer in Montenegro, and winters or most of the year in Asia. But paying taxes I pay in USA, so probably starting next year I will pay tax in Thailand, if I stay here long enough. I really like it here. Montenegro is pretty and chill, but boring.
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I just got an email couple days ago that they have just converted just a couple days ago (EMI into a Bank)
What I would do is move all the funds right away from there to crypto and close the bank account right away.
Export and save all the bank statements just in case.
It might work as they most probably wont report you right away. They might do that yearly or quarterly or something and by the time your account will be closed.
Plan of going to Montenegro is good.
You may also stay in Serbia and wait and see will they be after you in Romania (will you get anything from the tax office).
What I would do is move all the funds right away from there to crypto and close the bank account right away.
Export and save all the bank statements just in case.
It might work as they most probably wont report you right away. They might do that yearly or quarterly or something and by the time your account will be closed.
Plan of going to Montenegro is good.
You may also stay in Serbia and wait and see will they be after you in Romania (will you get anything from the tax office).
I am still fine. No news from them. i have 1 or possible 2 more years. i didn't wanted to withdraw to not
-sell my stocks at under evaluated prices
-to keep a track of my money
it just scared me out as i did all this money when i was away from Romania,15 years ago, but i failed to keep statements, tracks of the money,etc.
-sell my stocks at under evaluated prices
-to keep a track of my money
it just scared me out as i did all this money when i was away from Romania,15 years ago, but i failed to keep statements, tracks of the money,etc.
I would change residence for 10years. And I am actually doing it. I chose NHR program in portugal. 0% tax on passive foreign income, contact me on telegram(i have the same username) if you are interested, we could help each other.
aren't laws and taxes in small countries like Cyprus or Portugal (and Montenegro too, for example raised income tax from flat 9% to flat 15% overnight "cos they can") tend to change like weather and it's impossible to make long term bets like the 10 year tax exemption? what are the chances they'll actually keep the same laws for longer than a few years? and how do you like it there?
What you say it's true. They change laws like weather but nhr program lasts 10years since you register. They already raised the tax rate on pensions from 0 to 10% but NOT to those who already enrolled(New 10% income tax charge on pensions under Portuguese NHR regime (via Passle)). They don't need this kind of bad publicity. So if you enroll now there are good chances your taxation will remain the same. Eventually you can simply move elsewhere. All they require is a presumption of residence based on the rental agreement. I am still organizing the trip and the documents, in a few months I will be there so i cannot answer about how is it therearen't laws and taxes in small countries like Cyprus or Portugal (and Montenegro too, for example raised income tax from flat 9% to flat 15% overnight "cos they can") tend to change like weather and it's impossible to make long term bets like the 10 year tax exemption? what are the chances they'll actually keep the same laws for longer than a few years? and how do you like it there?
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