DislikedYes, tax on forex is much lower in Hungary than in Slovenia. It is only 36%.Ignored
- | Joined Jan 2008 | Status: We get paid for exiting trades..... | 72 Posts
There is no bad decisions, its only didn't work out.
Why your broker is your friend and your enemy 4 replies
Forex Trading Income: how is it taxed? 10 replies
What happens to your positions if a country changes currency? 2 replies
Dislikednot anymore, they all left for western europe since the borders were opened. If you declare you have investments made for over a year, the tax comes 1%.
Plus, you said you are Hungarian. there are some places were this is the "national" language, and near the western border (with hungary) 50% of persons known hungarianIgnored
DislikedNot sure if I'm understanding you correctly but "investments made for over a year" doesn't sound like forex trading to me... more like long term investing.Ignored
DislikedNot sure about Hungary, but in Russia you invest money in your broker account, and you profit is a net result at the end of the year - i.e. net total increase in your balance. If the brokerage is in a foreign country the profit becomes profit as soon as you transfer money from your broker, not before that. This is what I call fair taxationIgnored
Dislikedby the way, it is still 0 tax in slovenia,..it is only a law suggestion, to be pased trou legislation,..so till that happens, and untill its officially declered in some URLS, it is tax free,...so make as much as possible till that happens, then we will figure something out,..like usual,..nothing can stop us, not even 40%,...Ignored
DislikedNot sure about Hungary, but in Russia you invest money in your broker account, and you profit is a net result at the end of the year - i.e. net total increase in your balance. If the brokerage is in a foreign country the profit becomes profit as soon as you transfer money from your broker, not before that. This is what I call fair taxationIgnored
Dislikedcome to think of it... I heard South Africa was like that too. Wonder what other countries allow this?Ignored
DislikedCost of Living in Singapore
I could handle that! And I would LOVE to live there. But damn, what a country this is... They will FORCE me to move. Damn again.Ignored
DislikedCost of Living in Singapore
I could handle that! And I would LOVE to live there. But damn, what a country this is... They will FORCE me to move. Damn again.Ignored
DislikedSingapore sounds interesting... lots of good food probably but I'd have a problem trading at night (which I would be doing if I'm in Asian time zones)... but who knows, I heard Nick Leeson did well for himself thereIgnored
DislikedTraderKGB and Rabbid, thank you for the clarification! However, it's not as fair as it looks.
If you don't have capital gains and don't play with any deductions you fill out form 1040-EZ and use $8'750 standard deduction (single) or $17'500 (married).
Once you report any capital gains losses (even if the net results is negative or zero!) you must use the regular form 1040 with the deduction of $5350 (single) or $10'700 (married).
That's $3'400 extra taxable income compared to a person who did nothing but earned salary...Ignored
QuoteDislikedOnce you report any capital gains losses (even if the net results is negative or zero!) you must use the regular form 1040 with the deduction of $5350 (single) or $10'700 (married). That's $3'400 extra taxable income compared to a person who did nothing but earned salary...
QuoteDislikedIf you use spreadbetting to trade the forex in the UK, there is zero tax to pay.
DislikedI don't really know anything about spread betting. Is this merely a technical declaration or does it effect your trading habits? Are spread betting firms subject to any kind of oversight? Are you trading broker quality for taxes? Is this a substantive difference or merely a loophole, like can get UK broker get declared as a spread betting firm?Ignored
DislikedI don't really know anything about spread betting. Is this merely a technical declaration or does it effect your trading habits? Are spread betting firms subject to any kind of oversight? Are you trading broker quality for taxes? Is this a substantive difference or merely a loophole, like can get UK broker get declared as a spread betting firm?Ignored