Is it possible for a trader not to pay taxes?

Ted Capwell Updated:

How not to pay taxes for traders ?

Over the past 20-25 years, the post-Soviet republics are trying to create the appearance of civilized countries with developed market economies. And if in such industries as the production and trade in manufactured goods or food products, in principle it is not difficult to do this, then in those areas of activity in which we have never been engaged in our countries, the most unpredictable problems often arise. Moreover, on the background of corruption, squandering of state funds, nepotism in the highest echelons of power and false promises of officials, our fellow citizens, in principle, refuse to pay taxes. Why does an entrepreneur who works around the clock, is not getting enough sleep, does not devote enough time to the family, creates new jobs, etc. will give a substantial part of their money earned to the state budget, from where they will go into the pockets of those in power, and not to build schools , roads, salaries of teachers, doctors or training of young promising personnel? But in this review, we are interested in the fate of the income of domestic traders. After all, they do not always make a profit, and tax inspectors somehow don’t care about such problems for those who love online trading. But in this case, the main idea of ​​the presented article is to show the legal methods of not paying taxes to fans of online trading.


How to avoid taxes for traders?


What TranferWISE offers to users

A year and a half ago, a well-known international company offered its users a service that interested a huge number of traders and other professionals in the provision of financial services. By opening a Borderless account, the client was able to make international payments, so as if they had an account in one local bank. People who have never been involved in banking may not immediately realize the benefits of this service. But imagine, you can store and convert, for example, 15 different currencies on your virtual account. And at the same time apply for opening an account number in the US states, UK, France, etc. You will get a full-fledged European bank account in your name with an IBAN code. At the same time a plastic card will be attached to the account for withdrawing cash or paying for purchases. For example, a service user receives an Australian account number and BSB code as if he lived in that country. After all, it is not only convenient for companies that are engaged in international business, this service is protected by residents of one country from the “persistent curiosity” of “native” tax services.

TranferWISE is one of the safest intermediaries for international bank transfers. The company has the lowest interest for its services, while the listed positive points do not affect the speed of transactions. Clients can use applications that support the work of modern mobile devices on TranferWISE.

Among the key advantages of the presented service, independent experts point out:

● High security service.

● Presence of controlling organizations (FCA and HTC in the UK).

● 256-bit SSL encryption.

● Quick translations.

● Efficiency and transparency of transactions.

Without any risk, our traders can register with the represented company and open a US savings bank account, which gives the right to use both cash and make purchases using a plastic card.

If all of the above information sounds very encouraging for domestic traders (earned decent money on the trading platform, and after a few days they are already in the account with which our tax authorities simply do not want to “mess around”). In order to get access first to TranferWISE, and then to the account, it is necessary to issue a huge amount of papers, obtain permission from the Procurators, etc. But when it comes to a trader who earned several thousand dollars on the trading floor, his personality is unlikely to attract the attention of tax service employees. But even in this “barrel of honey”, there is a decent “fly in the ointment”: verification of users and substantiation of the origin of the company’s client’s capital can become a serious obstacle for our countrymen. Although practice shows that our traders are able to find a way out of almost any situation.

Exactly the same situation is with traders who transferred their money to an American checking bank account. By the way, the above methods are considered to be one of the easiest methods to obtain a plastic card of the United States for non-residents of this country.

What does tax law say?

You do not need to be a great specialist in tax matters to make a fairly simple deduction. If during the year you received $ 20 thousand, making deals on trading platforms, but invested 30 thousand during this period, it means that your net loss amounted to $ 10,000, that is, you did not earn any profit, which means you pay taxes do not. Although, on the other hand, experienced lawyers recommend to open the Borderless account to use the British account number and the sorting code to hold all available funds (in this case, rephrase the well-known proverb: hid money in England, sleep well).

It is very bad that in our country there is no fair legislation in this sector of the economy. Many traders would be happy to pay taxes on REAL-PROFITS, but most likely our deputies do not understand what online trading is, how to determine the tax base, what rates will be acceptable, etc.

Payoneer is an alternative way to solve financial issues for freelancers, traders, brokers and analysts.

By registering an account with Payoneer, you get the opportunity to accept / send payments using the service of one of the most reliable US companies. Registration is absolutely free, both legal entities and individuals can become a company user. In the process of work, even if you are not a taxpayer in our country, no one will forbid you to conduct commercial operations using the services of Payoneer.



“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”