Must pay taxes for FX earned money?

player_x

Recruit
Messages
7
Hi felows
Does anybody knows if there are tax fees for FX earned money in European countries?
Thnx in advance
 

Stony

Sergeant
Messages
167
Generally, money made from Forex is added to your "normal" income, so you have to pay your usual income tax on the total amount including forex. In Germany, though, there is a special tax on money made from the financial market, called "Abgeltungssteuer". The rate is 25 % .
 

cowmadagan

Sergeant
Messages
393
The online brokers I'm aware of don't report the contents of any individual trader's accounts to any financial authority. That said, there is a clear paper trail when you withdraw profits because they don't pay in cash. So, if you leave it in your account you won't have to pay anything.
That's all the tax evasion advice I'm going to tell you, even though there's more that's perfectly legal...but easily misused.
 
Last edited:

Pharaoh

Colonel
Messages
19,708
Some overseas brokers may not report it, but I wouldn't count on a US brokerage skipping a report to the IRS.
:unhappy:

If you are in the UK, you can use spread betting firms to trade forex. The last I heard, those are tax free.
 
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