Taxes due

[georgelupino]

In plain and simple English, how does the common reporting standard, tax information agreements, and automatic exchange of information uncover possible tax evasion? How do they find such loopholes where taxes were evaded? How do they cross reference such taxes?

 

[BurjKhalifa]

Those CEXs like Binance partner with local IRS, use a cold wallet

 

[seomaster5]

Those CEXs like Binance partner with local IRS, use a cold wallet

Can you trade on a cold wallet ?

 

[moonshine7000]

OP pay your taxes so you don't have to worry about that shit.

 

[BurjKhalifa]

Can you trade on a cold wallet ?

of course
using dexs

 

[georgelupino]

Can you trade on a cold wallet ?

But for someone living in some third world country of course...

 

[georgelupino]

of course
using dexs

What do you mean? But for someone living in some third world country of course...

 

[moonshine7000]

OP do you work for 3 letter agencies I see put up another post about OECD.If you are you not good at fishing for info.

 

[georgelupino]

OP do you work for 3 letter agencies I see put up another post about OECD.If you are you not good at fishing for info.

I guess...

 

[BurjKhalifa]

What do you mean? But for someone living in some third world country of course...

DEXs bro, like Uniswap
It won't work only on sanctioned countries

 

[BurjKhalifa]

Even so, there is probably some less popular DEX that must accept citizens Iran, Cuba, Belarus, etc

 

[Ripley545]

Financial institutions (like banks) collect information about account holders, including their country of tax residency.
They report this information to their local tax authority.
The local tax authority then sends this data to the tax authorities of other countries, where the account holders may be tax residents.

 

[georgelupino]

Financial institutions (like banks) collect information about account holders, including their country of tax residency.
They report this information to their local tax authority.
The local tax authority then sends this data to the tax authorities of other countries, where the account holders may be tax residents.

But what if someone is holding crypto and accessing it via anonymous crypto debit card but they chose not to buy house or car, how could they get caught for tax evasion then? Their money isnt in some bank but theyre just holding it and havent officially reported to anyone... how could an anonymous crypto debit card blow their cover then?

 

[LuciusMalfoy]

But what if someone is holding crypto and accessing it via anonymous crypto debit card but they chose not to buy house or car, how could they get caught for tax evasion then? Their money isnt in some bank but theyre just holding it and havent officially reported to anyone... how could an anonymous crypto debit card blow their cover then?

It is indeed very hard to get caught, especially when holding ur funds on a ‘cold wallet’

 

[georgelupino]

It is indeed very hard to get caught, especially when holding ur funds on a ‘cold wallet’

But if theyre accessing their crypto via an anonymous crypyo debit card and they havent bought a 300k usd home or a 70k usd brand new car, how might regular everyday purchase transactions expose them then? Will visa/mastercard audits expose them eventually?

 

[LuciusMalfoy]

But if theyre accessing their crypto via an anonymous crypyo debit card and they havent bought a 300k usd home or a 70k usd brand new car, how might regular everyday purchase transactions expose them then? Will visa/mastercard audits expose them eventually?

Bro what no one is going to purchase a 300K home via an anonymous crypto card, cuz rhen it wouldnt be anonymous anymore.

But anyways, it all depends on HOW you use the card and how you transfer funds etc.

Dont leave ‘fingerprints’

 

[georgelupino]

Bro what no one is going to purchase a 300K home via an anonymous crypto card, cuz rhen it wouldnt be anonymous anymore.

But anyways, it all depends on HOW you use the card and how you transfer funds etc.

Dont leave ‘fingerprints’

Fingerprints but how? If i dont buy a house or a car, could a government finance office investigate me or would visa/mastercard snitch on me?

 

[LuciusMalfoy]

Fingerprints but how? If i dont buy a house or a car, could a government finance office investigate me or would visa/mastercard snitch on me?

Im not gonna anser this anymore, i have said enough and do ur research on it.

 

[hermanchadd700]

Those CEXs like Binance partner with local IRS, use a cold wallet

Here's your answer.

 

[georgelupino]

Here's your answer.

Local irs?