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Declaring income

  • #1
  • First Post: Nov 24, 2010 5:21am Nov 24, 2010 5:21am
Is it possible theoritically of course to trade and not declare income? If so via which broker and why
  • #2
  • Nov 24, 2010 5:41am Nov 24, 2010 5:41am
Quoting Euroscum
Is it possible theoritically of course to trade and not declare income? If so via which broker and why
You should not disantangle this only from theoretical standpoint. Taxes are a theft.

Dukascopy. Why?- It is from Switzerland. Swiss jurisdiction is helpful if you want to avoid theft.
  • #3
  • Nov 24, 2010 5:54am Nov 24, 2010 5:54am
And yet I still bet you use public transport Karl....
  • #4
  • Nov 24, 2010 6:01am Nov 24, 2010 6:01am
Some taxes are OK, look at Somalia if you think no taxes are a good idea.

What I am saying is in general, what is the reporting and obligations like for brokers to declare who their customers are to the authorities for taxes.

Just say you live in the UK but you trade via another eu broker, what would the liklihood of being caught if you do not declare your winnings. Or if you are an eu citizen and you open up an account via a US broker.
  • #5
  • Nov 24, 2010 6:21am Nov 24, 2010 6:21am
Quoting Takisd
And yet I still bet you use public transport Karl....
I don't even use public healthcare, because it is financed though theft.
  • #6
  • Nov 24, 2010 6:25am Nov 24, 2010 6:25am
Quoting Euroscum
Some taxes are OK, look at Somalia if you think no taxes are a good idea.
Somalia has become one of the best places to live in Africa.


Quoting Euroscum
Just say you live in the UK but you trade via another eu broker, what would the liklihood of being caught if you do not declare your winnings. Or if you are an eu citizen and you open up an account via a US broker.
You use a Swiss broker. Switzerland is not an EU member state.
  • #7
  • Nov 24, 2010 8:30am Nov 24, 2010 8:30am
duka good for forex. No decent Swiss brokers for stocks,bonds etc.

Only this one, look at their fees, nothing compared to IB etc.

http://www.swissquote.ch/sqweb/tradi...te_clients.jsp
  • #8
  • Nov 24, 2010 10:59am Nov 24, 2010 10:59am
Quoting Euroscum
duka good for forex. No decent Swiss brokers for stocks,bonds etc.

Only this one, look at their fees, nothing compared to IB etc.

http://www.swissquote.ch/sqweb/tradi...te_clients.jsp
You can try here: http://www.whselfinvest.com/en/index.php This broker is headquartered in Luxemburg.
  • #9
  • Last Post: Dec 12, 2010 6:00am Dec 12, 2010 6:00am
When you withdraw money from your broker's account and transfer it to your bank account you will have to pay taxes ultimately. So I do not think it is possible to hide taxes.
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