You are viewing a single comment's thread from:
RE: Multiple-Chain DApps & Cross-Chain Atomic Swaps + Taxation
Then the answer is to bank in Malta for your crypto and pay taxes on only profits. It has nothing to do with the country where you reside as it is off shore. You are paying legitimate taxes in Malta. You can apply for duel nationality as well. There are going to be loopholes that the smart ones jump through. Do you have to declare your Steemit in Finland if you power down?
The tax laws are going to get messy as this is all new to us.
Legally, tax obligations have everything to do with the country you live in. If you get caught not reporting significant income, it could mean going to prison in the worst case. It probably is mandatory to report any and all income anywhere but you might get those taxes you have already paid deduced from the taxes you have to pay where you life.
I'm still not sure what taxes I should pay from Steem income and when. I earned very little last year and none in fiat. Now the guidelines have changed.