I thought so too at least for continental Europe. Seems like Italy according to many Italian traders here could -could- be different at least in practice. I am trying to get all the facts but it's not easy not speaking italian. If anyone has info on Italian 12.5% CGT , it is greatly appreciated (PM).
60% + is a fallacy. Capital gains taxes that are taxed as regular income get to be at most 35%. In some countries it is listed as only capital gains taxes and stay that way, unless one declares otherwise. I should know, I had long talks with my tax accountant about it.
It is how one declares it. I shall keep on declaing as I do until the taxmans says otherwise. Also trading as a business one can set up a corporation that is only taxed a 20% flat. Then when one takes out income one is taxed at regular income rate which is lower the one thinks for selfemployed. Of course health insurance and other kind of insurances are ones own resposibility.
Kicking, As I said I love the French Riviera but you always have to take some securitymeasurements. I have a friend that moved back to Sweden, he left three days before the movingcompany should empty his villa. But the "movingcompany" came the day after he left and all his belongings dissappeared and of course his neighbours knew he was leaving and thought that this was the hired movingcompany.............
VIVA MONACO BABY!!!! SUPER low crime rate and 0% tax for trader trading at home....and then theres the scenery on larvato beach, and thats free....
Tradenut, I´m a client of Kmpg and Coopers, I don´t want to take chanses. So please show some waterproof solutions where your tradingincome is taxed as capitalgains. If you are talking about France you are dreaming, the only good thing about France is the taxation of artists, where the artisttax is ca 15 %. On a mimimumsalary "the smic" the taxes including social costs is + 60%. Fantastic!
Kalinka you are right about France, in Germany it is as I mentioned earlier, as a self employed your tax burden is much lower. Of course you need to take care of your own social costs. If it is for taxes France is definitly not where I would want to go just as you say. My prference right now is Italy. 12.5% and no provision to move that into income taxe as of now. In Germany Schroeder is trying to push a measure that would tax capital gains at a flat 15% and that is all. Of course that would be taken from the top. More is not yet known. I shall post as more comes to light.
Thank you for your answer but the big question still remains for Germany and Italy. Is your Tradingincome Capitalgain or a running business? I think we need some Italian taxlawyer here!
As far as Italy, a Gentleman that trades there was vehement that capital tax gain is only 12.55 and was not taxes as regular income unless it was so declared. I looked up on it and could not find anywhere where it would be considered income. I am still looking but so far it is as one declares. Germany is not to bad for selfemployed. The only problem right now is that they need money and are trying to find anyway they can to raise revenue. At this point in Germany my accountant told me I would only pay 35% max.