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Withdrawing 40,000EUR..

Discussion in 'Business & Tax Advice' started by Divxup, Feb 11, 2017.

  1. Divxup

    Divxup Newbie

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    This is it , all my bitcoins are sold and all money in n26.com , i have debit card from them, and withdraws will start soon. card is issued in Germany, i live in Latvia

    The thing is that i don't want to send all the money to Latvian bank account because i will have to pay tax, (income tax) (declaration) ........

    But what will happen when i withdrawing from Latvian bank ATM , ~3000EUR, every singe day. What ATM can "see" ?? can Latvian bank get my identity trough other country issued debit card ?

    How to hide that amount of money from Latvian tax ?
     
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  2. Divxup

    Divxup Newbie

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    or should i drive to Estonia and make withdrawals there ?
     
  3. neilbhabuta

    neilbhabuta Jr. VIP Jr. VIP

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    Set up a bank in isle of man or cyprus. No tax
     
  4. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    The real amazing thing is people will actually sign up for a SEO forum to ask how to hide money.
     
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  5. knowing25

    knowing25 Elite Member

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    If you latvian citizen just pay your tax, be a good citizen.
     
  6. Neon

    Neon Jr. VIP Jr. VIP

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    How much is this scary tax ?
     
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  7. NoGameNoLife

    NoGameNoLife Regular Member

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    Following this thread...for educational purposses
     
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  8. Lauriat

    Lauriat Power Member

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    yes, withdraw only from different country and you will be safe.
     
  9. Lauriat

    Lauriat Power Member

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    ow well this is serious question, but people here every single day make nonsense threads which read like they are high on something and thats ok, those threads get more replies that serious ones.
     
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  10. qsm

    qsm Newbie

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    Engage a international tax professional to help you move your money to offshore tax havens such as Panama, Cayman Islands or Luxembourg? Google Offshore Tax Havens for more information.
     
  11. tehnikumapuika

    tehnikumapuika Regular Member

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    You will pay almost the same amount of money every day for a withdrawing fee than just paying tax.
     
  12. DanTe_0101

    DanTe_0101 Senior Member

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    Good job selling bitcoin btw :)
     
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  13. dekadent30

    dekadent30 Power Member

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    Withdraw smaller amounts everyday
     
  14. tehnikumapuika

    tehnikumapuika Regular Member

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    In Latvia if you are trying to withdraw more than 7k in one month, you will get a letter from govmnt asking where did you get it and why not paying taxes. And it does not matter that you have german card.
     
  15. Divxup

    Divxup Newbie

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    So better withdraw in Estonia then, BUT how they can see that is me withdrawing..
     
  16. tehnikumapuika

    tehnikumapuika Regular Member

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    Your card man, you are EU citizen. If you would get a payoneer card, then it would be ok.

    I think in estionia is the same.
     
  17. Divxup

    Divxup Newbie

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    I have payoneer card , and its also in MY name, so how it would be okay ?

    just checked that my payoneer card is issued from wirecard solutions (UK!!)
     
    Last edited: Feb 11, 2017
  18. Blakereed

    Blakereed Regular Member

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    Wire me the money - I will cash it out and fly to you for drop off. Sound good?
     
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  19. Divxup

    Divxup Newbie

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    [​IMG]
     
  20. MMOalex

    MMOalex Registered Member Premium Member

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    It does not work like that my friend.
    Most European countries (i assume OP is European) have a very strict rule against that, it doesnt matter if you live in XXX and have a company in YYY.

    If you live in XXX and have company in YYY you still need to pay taxes to the XXX government.