No, I'm not naive. Once again, your broker, assuming a US one, does NOT report option trades to the US tax authority (the trades are not reported even for the US citizens), so the US tax authority has nothing to forward on to the German tax authority, capish!?
No, I'm not naive. As you wish ... Author point of view exist exchange of informations about tax delict's as with Swiss (Swiss bank's tryed modify Swiss law ,to avoid this exchange's with Germany ) Your respectfully
The German word for account number is: kontonummer. This is about the extent of my knowledge of German.
Don't think you can avoid tax simply because at present brokers don't report trades. And if you do not disclose your tax liability the law allows an indefinite period of look back to find you and fine you! Just like Mastercard and Visa transactions - which are/ were not reported - Both the IRS and ATO have obtained data from these two card firms - in particular looking for OFFSHORE transactions. Similarly BVI company registrations have been perused by both USA and Australian Governments to find details of directors and shareholders who are USA or Australian citizens. I assume other Governments have done the same. It is only a matter of time before foreign governments request information on Share Trading, Futures, options, Forex, etc. In terms of when tax is due - it is on a MARKED TO MARKET BASIS, so you are liable for tax on profits even though they remain in your account, or you might not have closed a position at end of financial year. It is time you got smart and traded as a proprietary trader through a hong kong company (not one you incorporate yourself) have a look at www.markettraders.cc
offshore lawyer Don't think you can avoid tax simply because at present brokers don't report trades. Correct. Author is possibly suited to CME EIP new trader programm,which granted 23000 side's in 6 month without any CME exchange's fees ( potencial saving 15000-23000 $) ,but this demanded CME ID for broker and trade reporting to CME each day . Exist possibility legaly -to create one person company ,where author would owner,director and independent contractor in Monaco (or Swiss and another tax oasis) Author will evaluate this opportunities . In HK stump duty must be payed (alsov for non resident, in U.K. non resident possibly not pay stump duty) That eliminated day trading Your respectfully
....In terms of when tax is due - it is on a MARKED TO MARKET BASIS, so you are liable for tax on profits even though they remain in your account, or you might not have closed a position at end of financial year. If operator performed üper year 100 trades (R/T) in 60 was proftable in 40 loss . How would taxed -end year result ? or each proftable trade . your respectfully
ssss, Do you really think you can 100% rely on anything that is said on this forum!? Every country has a different tax code and different rules apply to different things so get a professional tax advice, that's the only way you are gonna get all of your questions answered! A lot has been said, but noone knows what applies to you and what doesn't. You asked about what gets reported to the US tax authority, and I answered it (to the best of my knowledge, but I'm no tax professional so you cannot 100% rely on what I say). I didn't say that because the trades are not reported you should avoid paying taxes. I just pointed out how the system works. If you are not satisfied with my answer then...guess what...GET A PROFESSIONAL TAX ADVICE! But if you insult me one more time, I'll fly over to Germany or Switzerland or whereever you are and kick your a$$.