How to avoid transaction reports to authorities?

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sosono

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I have noticed this comment about the trend recently, that stricter reporting practices may happen soon at payment processors:

https://www.blackhatworld.com/seo/alternative-to-transferwise-wise.1443912/post-15827471
I reside in the EU. Any method for the future to avoid this? I thought Skrill and Neteller will still be safe in the future considering they left the EU with Brexit, and no more EU regulation in England. If not them, which service will still be safe for "us" in the future? To avoid the watching eyes of our tax authority? My last resort that I always kept as an emergency route was Euro Pacific Bank, but sadly that is gone :D Any online/offline institutes that you recommend?
 
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None. Hands down, all are CRS compliant or in full cooperation with governments. Just use "nominees" or crypto or just move to Thailand/Philippines/Dubai (or other countries with either 0% personal tax or territorial tax).
 
sosono said:
I have noticed this comment about the trend recently, that stricter reporting practices may happen soon at payment processors:

https://www.blackhatworld.com/seo/alternative-to-transferwise-wise.1443912/post-15827471
I reside in the EU. Any method for the future to avoid this? I thought Skrill and Neteller will still be safe in the future considering they left the EU with Brexit, and no more EU regulation in England. If not them, which service will still be safe for "us" in the future? To avoid the watching eyes of our tax authority? My last resort that I always kept as an emergency route was Euro Pacific Bank, but sadly that is gone :D Any online/offline institutes that you recommend?
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There is a way.....but it's only worth it for big money:

1) buy crypto stable coins preferably

2) open a bank account through proxy in Cook Islands or similar tax heaven with a CC attached to that bank account

3) sell your crypto and transfer the money in that account use that CC to pay for shit tax free
 
laur.laurix said:
There is a way.....but it's only worth it for big money:

1) buy crypto stable coins preferably

2) open a bank account through proxy in Cook Islands or similar tax heaven with a CC attached to that bank account

3) sell your crypto and transfer the money in that account use that CC to pay for shit tax free
Click to expand...
The only problem in this scheme is that I am still moving small monies (but already big enough for the tax authority to pay attention). So having to arrange things by proxy would not be profitable. That's why I liked Euro Pacific, because it seemed to be a resort for people like me. But crypto seems to be the only way left indeed.

However I have some problems with crypto:
Were I get paid usually they send bitcoins, I have no other choice. As the conversion rate highly fluctuates in case of bitcoin, the only solution is to have a wallet where I can exchange to fiat or other coin instantly. I used to use coinify, but it is way too slow. Which wallet does this instantly?


I am not very experienced about coins. Which are the ones that are the most stable? Ethereum?
 
sosono said:
The only problem in this scheme is that I am still moving small monies (but already big enough for the tax authority to pay attention). So having to arrange things by proxy would not be profitable. That's why I liked Euro Pacific, because it seemed to be a resort for people like me. But crypto seems to be the only way left indeed.

However I have some problems with crypto:
Were I get paid usually they send bitcoins, I have no other choice. As the conversion rate highly fluctuates in case of bitcoin, the only solution is to have a wallet where I can exchange to fiat or other coin instantly. I used to use coinify, but it is way too slow. Which wallet does this instantly?


I am not very experienced about coins. Which are the ones that are the most stable? Ethereum?
Click to expand...
Stablecoins are the most stable. USDT, USDC.
 
sosono said:
The only problem in this scheme is that I am still moving small monies (but already big enough for the tax authority to pay attention). So having to arrange things by proxy would not be profitable. That's why I liked Euro Pacific, because it seemed to be a resort for people like me. But crypto seems to be the only way left indeed.

However I have some problems with crypto:
Were I get paid usually they send bitcoins, I have no other choice. As the conversion rate highly fluctuates in case of bitcoin, the only solution is to have a wallet where I can exchange to fiat or other coin instantly. I used to use coinify, but it is way too slow. Which wallet does this instantly?


I am not very experienced about coins. Which are the ones that are the most stable? Ethereum?
Click to expand...
If you are paid in bitcoin you can convert it in USDT and get yourself a crypto card and spend that money tax free....if you have a company and you get paid for your services in fiat via bank make another company in a tax heaven and charge your main company profits for consultancy for example and make a bank account with CC attached in that tax heaven and profit.

The crazy part in Europe is that the tax man can revert this shit and say pay me and you have to fight it in court.....90% of times you can win because what I wrote above is not illegal but still the whole process can be a pain in the ass.
 
laur.laurix said:
The crazy part in Europe is that the tax man can revert this shit and say pay me and you have to fight it in court.....90% of times you can win because what I wrote above is not illegal but still the whole process can be a pain in the ass.
Click to expand...

Actually not.

You will lose 99% of the time because laws in the EU are very clear about ownership and who controls what from where.

If you f. ex. live in Germany or France or Spain or... in the EU and you own an "offshore" entity in a known tax haven and you funnel money regularly to that entity, the tax authority will ask you about the ownership of this entity and proofs and those proofs will include documents where the beneficial owner of that entity is listed. So, sure, you can lie about that but if they find out by doing requests and following the money, you will end up in prison.

That also applies to EU setups. F. ex. you live in Germany (30%) but have a company in Bulgaria (10% corp tax). The tax authority can just look up who's the owner and director and if that is you, they will regard that Bulgarian company as a Germany resident.
 
Embrace crypto in an "EFFECTIVE" manner and you will then not have to bother about "https://dictionary.cambridge.org/dictionary/english/big-brother", unless ofcourse you want to "show" a bit of your income for certain of your expenses / purchases.
 
laur.laurix said:
If you are paid in bitcoin you can convert it in USDT and get yourself a crypto card and spend that money tax free....if you have a company and you get paid for your services in fiat via bank make another company in a tax heaven and charge your main company profits for consultancy for example and make a bank account with CC attached in that tax heaven and profit.

The crazy part in Europe is that the tax man can revert this shit and say pay me and you have to fight it in court.....90% of times you can win because what I wrote above is not illegal but still the whole process can be a pain in the ass.
Click to expand...
Well that is not just true. No money is tax free just because you paid with crypto.
 
Amaz0n said:
Actually not.

You will lose 99% of the time because laws in the EU are very clear about ownership and who controls what from where.

If you f. ex. live in Germany or France or Spain or... in the EU and you own an "offshore" entity in a known tax haven and you funnel money regularly to that entity, the tax authority will ask you about the ownership of this entity and proofs and those proofs will include documents where the beneficial owner of that entity is listed. So, sure, you can lie about that but if they find out by doing requests and following the money, you will end up in prison.

That also applies to EU setups. F. ex. you live in Germany (30%) but have a company in Bulgaria (10% corp tax). The tax authority can just look up who's the owner and director and if that is you, they will regard that Bulgarian company as a Germany resident.
Click to expand...
Clearly you don't have an offshore company....who says the offshore company has to be in your name? In the tax heavens where ownership secret is not available the company will be controlled by the lawyer firm or a trustee.
 
BellaOnlyPromo said:
Well that is not just true. No money is tax free just because you paid with crypto.
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True, you still gonna pay VAT on every purchase and spacial tax for fuel, booze, smokes etc....but hey you will not pay the personal income tax that can be as high as 40% in some EU countries.
 
Move to places like dubai. Use crypto and offshore companies
 
laur.laurix said:
Clearly you don't have an offshore company....who says the offshore company has to be in your name? In the tax heavens where ownership secret is not available the company will be controlled by the lawyer firm or a trustee.
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Those tricks will no longer work.US and EU are pressuring banks for the ultimate benefical owner this is not 80's or '90 you can't simply just hide money
 
moonshine7000 said:
Those tricks will no longer work.US and EU are pressuring banks for the ultimate benefical owner this is not 80's or '90 you can't simply just hide money
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Actually you can. Watch the known Andrew Tate, after the authorities seized all his money, they were able to buy a McLaren car as soon as they were free to leave the house. Also it is known that he makes about $10M/month from hustlers university but the company reported a loss of 300k , how is this possible? Miracle, but it is a prove that does exist a method to hide the money.
 
laur.laurix said:
Clearly you don't have an offshore company....who says the offshore company has to be in your name? In the tax heavens where ownership secret is not available the company will be controlled by the lawyer firm or a trustee.
Click to expand...

Clearly you have no clue about any laws regarding UBO. Please refrain from giving any advice as it's most likely criminal and lead to prison.
 
Thorr said:
how is this possible? Miracle, but it is a prove that does exist a method to hide the money.
Click to expand...

You don't have any insight of what is actually transpiring. Why would they want seize all money if they don't even have a conviction or why do you even think money is hidden and just not accessible without a real court proceeding.
 
Amaz0n said:
You don't have any insight of what is actually transpiring. Why would they want seize all money if they don't even have a conviction or why do you even think money is hidden and just not accessible without a real court proceeding.
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You are wrong as hell and you don't have any clue about romanian law. At the moment the authorities seized cars, houses, and money they found under their name , in this way, the brothers can not sell the cars/house or hide the money until they are convicted (this may take a few years). At the end, if they are not found guilty they will receive back the money / houses /cars otherwise they must prove with documents where from they got the money for houses and cars. At the moment they claim they have money from all kinds of legit businesses but they must show evidence on the paper that shows they made all the money from legal activities, if they don't have evidence, then it is proof the money are illegal and they will lose the money/houses/cars. Is very simple once you know the logic.
What I said is related to their money, from 200k HU subscribers they made over $10M but the money is nowhere, in fact, the company that is behind HU has declared to the tax authorities in the year 2022 a loss of $300k (so they are not paying any tax from $10M)... this is why I said it is a miracle where the money disappeared (I talk about only about HU). So does exist a way to hide the money...
 
Thorr said:
You are wrong as hell and you don't have any clue
Click to expand...

You have no clue how international law and tax law for that matter works so I have cut your rant away as it has no value.

Just an example how it works: Company A in country A owns company B in country B and owns company C in country C. Country B wants to seize assets of everything but can only seize everything of company B because they don't have the means to seize company A and company C without any meaningful authority (which could be gained after a court proceeding). There are obvious even more details but it is just a small overview.

Also, you still don't have any insights as well, "they made this and that" you don't know anything about that but still keep ranting. You don't know anything about the actual profit this guy made. Please stop it.
 
Heck even crypto exchanges are full KYC these days

There's no escaping the taxman
 
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