Would you not like to pay your BTC taxes? A company helps you exactly with this
Would you not like to pay your BTC taxes? A company helps you exactly with this
- A company in the USA works with cryptor-rich customers and helps them get passports in tax havens to avoid BTC tax.
- Customers have the choice between 7 tax havens, but it's not cheap.
In life, two things are safe - death and taxes. And while death is inevitable, a company helps its customers to avoid the second certainty. The company, known as Plan B, sells passes to its customers, usually individuals who have earned millions with cryptocurrencies, to tax havens to avoid the high taxes in their own countries, mainly to the USA
Plan B Passport offers exactly that, an alternative place of residence or an alternative citizenship so that crypto-millionaires can avoid taxes. It was founded by Katie Ananina, a 26-year-old Russian who now lives in the United States. Katie is a Bitcoin maximist who says she got into Krypto after falling 50 percent in two months. Since then she has had a problem with the financial system and governance. This was their motivation to help other Bitcoin investors avoid the high capital profits.
Katie believes that nobody should live in a country whose government, politics and laws do not suit him.
When the government starts to influence me, I will take my entire assets into my hands and go somewhere else.
also read: A crypto tax trip through the largest countries in Europe
Bitcoin taxes-that's how it works
According to CNBC, Katie helps hundreds of customers to secure passports in tax havens every year. Customers have the choice between seven ports - Antigua and Barbuda, Vanuatu, Dominica, Portugal, St. Lucia, St. Kitts and Nevis and Grenada.
To secure these passes, Plan B works with Citizenship-by investment programs. These are particularly popular in smaller economies that have fewer resources for exploitation. Ernest Marais, lawyer at the Andersen tax office, said:
It is an attractive way to attract foreign investments and is particularly known in countries with a few natural resources. In St. Lucia you can acquire citizenship by investing between $ 100,000 (donation), $ 250,000 (government bonds) or USD 300,000.
st. Kitts is most popular with families, while St. Lucia is most popular with single travelers.
And although this is a relatively new niche, the business is booming according to Katie.
"My only marketing channel is Twitter. I literally don't spend a single cent, but I am out of booking for consultations three weeks in advance," she said she cnbc.
In the USA, IRS Bitcoin categorizes as property. This means that it is subject to the same taxes as real estate and stocks.
Tax expert John Feldhammer explained:
Basically, the basis of the taxpayer in Bitcoin is what the taxpayer bought for, and if the taxpayer sells or exchanges this Bitcoin, it is a taxable transaction. The income or loss of the taxpayer is determined by deducting the sales price and deducting the assessment basis of the taxpayer.
Tax avoidance is legal in the USA, in contrast to tax evasion, which represents a criminal offense. Nevertheless, Katie has been faced with hostility from the authorities for years. It is held for hours at airports. But she says that this cannot reduce her determination to ensure that Bitcoin-millionaires avoid taxes.
Every time I cross the border, I will be held at the airport for three hours. You ask me a lot of questions and every piece of luggage goes through the craziest controls. They literally turn my socks.
Source: Crypto-news-flash.com
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