2870 sats \ 5 replies \ @davidw 27 Nov 2023 \ parent \ on: Stacker Saloon
Just been told that no one really knows how to treat BTC the asset in 🇺🇾.
Regulation was proposed but never passed. Capital gains not really currently applied or collected (12% for other financial assets). I had previously assumed it was so.
Businesses or merchants can report or not report transactions performed with BTC, definitely gray area & no laws expecting or compelling you to do so.
I was given the anecdote of a client who was degenerative trading. His balances kept increasing and so the bank asked some questions. He told them what he was up to, and the bank waved him on his way and said nothing more, allowing him to continue profiting. No tax man knocking at his door. No expectations. Sound like somewhere you want to live? 😄 Can’t imagine it completely continues, but for now.. just goes to show the geoarbitrage opportunity here.
@elvismercury @k00b @nemo @nikotsla @shortsimon
Well then... 🇺🇾 is another country to add in "Place to live", 🇸🇻, 🇦🇷 ... I see a "theme" with this flags... blue, white, sun u other symbol...
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Huh. That seems... remarkable.
Makes me think of Puerto Rico, in the States (sort of.) They have an extremely generous tax policy once you establish residency. Surely they'll change that, eventually, but I also wonder if they'll make it retroactive and try to claw back tax revenue on previous capital gains.
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True, but even if they do worst case is 12%.
Already drastically lower than the 20% in U.K, where I can only see it going higher because “climate change”
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deleted by author
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That’s right, stay in the goldfish bowl. Much safer there
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