Forex-related taxes

i never found any suitable discussion on forex related tax. it is not only forex but also other kind of products like cfd on indices or shares are taxable in many countries as capital gain tax . in my country it is 30% . do you have to pay regular tax on forex or cfd trading ?

you shouldn't ask that on a forum like this. I bet 99% of people here never paid taxes, cause they never made any profits. In my country it is classified as income tax which can go from 25% to 50% depending on how much you earn...

Tax in forex?? really? Never heard of that before, simply put, offshore brokers don't care and banks never ask about the source of the cash.....

why it is moved?
IS THERE ANY RULE THAT I HAVE BROKEN?

nah m8, whether ppl pay tax or not its an integrity issue

check out aussie stock forums great for tax threads

I was looking for that, it differs from one tax expert view to another, in some cases you don´t have to pay tax, in some cases you have to, but forex issue is not properly made into tax legislation, in my country it is considered as Other income, taxed by 15 %, but there is also tax deductible part (about cca. 1 000 USD) and you can count your starting capital as a cost.

I've been searching high and low for the answer to this.. sadly most of the replies were mixed with no credible reply. The best way is to stay below the radar.. never to withdraw more than few $$$$'s/month via Bank WIRE so as not to raise any suspicions.. Skrill also helps as a way to divert funds and use the debit card for regular purchases.

CFD's are definitely taxable.. not so sure about forex.

Investopedia would be the place to go on the web for information like this. Or if you want a more credible source maybe a CPA in your area.

I know that the tax rates differ based off how long you are holding positions. So many people I know think I pay a capital gains tax on my earnings but I rarely hold my positions for over 6 months and aren't eligible to be taxed at the lower rate.