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  1. #1
    Rookie Member titamillion's Avatar

    Information Request !!!

    Hello Forum,
    I guess you are all having a nice weekend. I have a little problem here if anyone have an idea about it. I really need some basic information about it. The fact is, i now live in Germany and would like to start trading binaries. Does anyone know how traders in Germany pay their Taxes from their earnings? What tax regulations binds online tradings? Do i need a license to trade? how actually does the German govt get their taxes? Is it the traders themselves to declare their taxes or the Govt herself? please help me with these info.

    many thanks to this forum and the manager.

  2. #2
    Legendry Member Okane's Avatar
    Hey.
    As far as I know in Germany they haven't figured out whether BO is gambling or trading.
    I might be wrong but if it is still known as gambling then you don't have to tax it.
    I always say the same thing when people ask us about taxes, call your local tax office and
    ask them. You will hear 100 different things on the Internet and you can never be sure
    which one is true!
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  3. #3
    Veteran Member Dan21's Avatar
    Okane is right. Just ask and this is the only sure information you can receive.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Yeah, ask a local tax professional that is always always always the best way to go, and if you still aren't sure then I would say just go ahead and report it as income, it's better to pay too much tax than not enough

  5. #5
    Veteran Member randy1953's Avatar
    Well theirs a reason why gambling is not taxed. the IRS would go broke with all the losses to be claimed. I would think it would be the same for BO. Since over 90% loose money if they tax you the opposite is true you can claim your losses and I would think the IRS would not be happy.

  6. #6
    Master Member SeasaltMcFish's Avatar
    In the Netherlands, there has been a court ruling that a BO broker is offering a kind of investment, so I assume here it's being taxed as a form of investing. We have a free first about 10k profit and above that it's a small % (didn't make that yet )

  7. #7
    Administrator Martin Kay's Avatar
    Titamillion, you sound like you're going to make lots of $$$ since you're already talking about taxes. Let's start small, learn the business before you jump into taxation (:
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  8. #8
    Legendry Member milos's Avatar
    Hello Titamillion

    You've started excellent topic for discussion.In different countries tax policy regulated different.It depends from the law.Is it Anglo-Saxon or continental law? German belongs to the continental law.

    In Serbia, where I'm living there are regulated tax policy the following:

    There isn't any special law regulated on the forex trading or binary options trading income. It is regulated as Income tax. Any winnings below 150 euros isn't taxed.Above 150 euros it must pay a tax of 20%. This tax is included gambling, betting and lottery.

    Forex/binary options trading income tax is regulated by 20% tax to pay it. It is regulated as Income Tax. If you make more than 20000 euro per year you should pay 20% income tax and adding tax more 10%.For example you made 20000 eurox20%=4000 euro tax.20000-4000=16000 16000x10%=1600 16000-1600=14400. You made 20000 and it has left you 14400 euro after taxation. Below 20000 euro you only have to pay 20% tax.

    If you self employed like freelancer and it is only income you made from trading you have to pay 67% tax on retained profit.It is included tax for social security insurance, healthy insurance and added value tax.

  9. #9
    Veteran Member randy1953's Avatar
    Quote Originally Posted by milos View Post
    Hello Titamillion

    You've started excellent topic for discussion.In different countries tax policy regulated different.It depends from the law.Is it Anglo-Saxon or continental law? German belongs to the continental law.

    In Serbia, where I'm living there are regulated tax policy the following:

    There isn't any special law regulated on the forex trading or binary options trading income. It is regulated as Income tax. Any winnings below 150 euros isn't taxed.Above 150 euros it must pay a tax of 20%. This tax is included gambling, betting and lottery.

    Forex/binary options trading income tax is regulated by 20% tax to pay it. It is regulated as Income Tax. If you make more than 20000 euro per year you should pay 20% income tax and adding tax more 10%.For example you made 20000 eurox20%=4000 euro tax.20000-4000=16000 16000x10%=1600 16000-1600=14400. You made 20000 and it has left you 14400 euro after taxation. Below 20000 euro you only have to pay 20% tax.

    If you self employed like freelancer and it is only income you made from trading you have to pay 67% tax on retained profit.It is included tax for social security insurance, healthy insurance and added value tax.
    what about your losses can you claim them?
    thanks

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