Taxes and privacy

[Stifmeister]

But what if the person living in any of these third world countries is always using either an anonymous, no kyc, or a visa/mastercard which simply doesnt have the users name on a regular basis to make small, average size purchases at walmart, mcdonalds, shell gasoline, online purchases, ect... theyre not spending a lot per say but are always making regular size purchases for things of this nature...?

You have to understand that tax evasion is illegal in all countries.

If the card is not in your name and you're not caught spending it, then its not a problem. For such small purchases no one will care. This is called fraud and can land you in prison if caught.

But if you start buying cars, houses etc, eventually someone will notice.

Use XMR.

Find someone locally who will trade you cash for crypto and then just use cash.

 

[georgelupino]

100% privacy can be achieved provided you use only third party channels for all your transactions.

What do you mean a third party? But like whom?

 

[georgelupino]

You have to understand that tax evasion is illegal in all countries.

If the card is not in your name and you're not caught spending it, then its not a problem. For such small purchases no one will care. This is called fraud and can land you in prison if caught.

But if you start buying cars, houses etc, eventually someone will notice.

Use XMR.

Find someone locally who will trade you cash for crypto and then just use cash.

But apart from anonymous, no kyc, and visa/mastercard debit cards that dont have the users name, who else might report such usage to tax authorities in a third world country?

 

[LuciusMalfoy]

The moment you do a KYC = privacy gone (they can track transactions if they want)

However the question mostly is, are you ‘big’ enough for then to put effort in it?

 

[georgelupino]

The moment you do a KYC = privacy gone (they can track transactions if they want)

However the question mostly is, are you ‘big’ enough for then to put effort in it?

What do you mean if im big enough? Like if im a big fish...?

 

[LuciusMalfoy]

What do you mean if im big enough? Like if im a big fish...?

Correct, or you must be going gym 24/7

 

[georgelupino]

Correct, or you must be going gym 24/7

But for small purchases, how could this arouse suspicion? What about frequent economy international flights?

 

[LuciusMalfoy]

But for small purchases, how could this arouse suspicion? What about frequent economy international flights?

Well im no expert in this, but just make sure rhere is no suspicious ‘pattern’ and if you value privacy, use crypto as much as you can.

 

[georgelupino]

Well im no expert in this, but just make sure rhere is no suspicious ‘pattern’ and if you value privacy, use crypto as much as you can.

Where are you located? Im in suriname by guyana and french guiana.

 

[LuciusMalfoy]

Where are you located? Im in suriname by guyana and french guiana.

Im from EU , but mainly operate & live in dubai.

 

[justmeseo]

Do crypto debit cards report transactions to tax authorities even if the user lives in a third world country? How do tax authorities in third world countries find out if someone maybe using a crypto debit card? Is there complete privacy even in third world countries? What if its a debit card which simply doesnt have a user name?

In the UK they do, coinbase/finance/crypto.com/Gemini and others report authorities your financials, not sure if it's when you cash out or on your holdings...

 

[georgelupino]

In the UK they do, coinbase/finance/crypto.com/Gemini and others report authorities your financials, not sure if it's when you cash out or on your holdings...

But im talking about less developed nations like belize, el salvador, haiti, subsahara africa, ect...

 

[justmeseo]

But im talking about less developed nations like belize, el salvador, haiti, subsahara africa, ect...

If the country you reside, doesn't have healthcare, the electricity gets cuts once in a while, there isn't normal access to water, you see animals roaming around nor they have fixed a road in the past 20 years... Be sure that nobody keeps track of how many or how much of digital currencies you have.