We’re too racist for that.
Success often comes from not cutting corners, and unfortunately, taxes are no exception. When I first started my business, I knew nothing about setting it up properly and ended up paying $100k in personal taxes before I incorporated (it was painful!).
However, the peace of mind that comes from following the rules is invaluable. I believe SWAPD’s commitment to upholding regulations and handling things professionally speaks volumes about the platform’s character, integrity, and longevity-- this is what keeps us leagues ahead of other marketplaces in this space.
Many of us, myself included, support our families through SWAPD. Focusing on loopholes and ways to circumvent the system is counterproductive to our long-term success.
I am very against over-regulation and over-taxation. So I do understand that people who are angry. But it is also nice to see some positive comments here from @Abstract @GOAT, @Teal, and @gireeshtty9 As @Abstract said, we don’t want to be OGU. I want to make SWAPD as compliant as humanly possible. This is just another bump on the road. However, the hunt to move our business operation OUT of Europe is now stronger than ever. The EU and the Western world will not stop implementing these rules and regulations. It’s just a matter of time before we will have to insert our ID into our laptops to access the internet.
If you really take that step and don’t move the company out, next step will be: Audits due to suspicious crypto transactions and sanctions if you refuse those audits. Mark my words
sell swapd, put everything into $BRETT and retire for life
SIMPLE
But i have a question because i don’t get so now i am seller and i receive payment through crypto and in the end of each year i fill taxes for my crypto too i am in usa so i am good now or i have to pay more taxes?
Since USA is in EU you are will have to do this as well
My question is it’s additional fees or crypto fees because i already pay for my crypto investments every year and i receive my payment from swapd crypto you got my point?
Crypto exchanges dont auto report, its your responsability to do it.
Tara Pakistan jayega
Arey bhai itna sach bhi nahi bolna tha
Hey yes. I can advice you on this… I mean not this, but, how to white-list and comply with crypto laws, GST and IE code being in India.
You don’t need to worry. Come in PM. I have a CA at home.
In India they do, International exchanges like KuCoin and Binance now report to govt. as now, they comply with the FIU guidelines. They did this to unban their operations after a recent ban on International exchanges.
And local/domestic exchanges like WazirX already used to do this.
If your country belongs to any of these world-wide programs (FATCA, CRS, CbC+) your activity is known to your local IRS.
In addition, this December, huge crypto laws incoming screwing everyone even further.
You have to be the most naive person in the world if you believe that the popular exchanges do not report on you THE MOST HEAVILY REGULATED websites in the world, in an industry that the governments hate, get a pass from the IRS?
@MrSixdigits I have a bridge to sell you in NYC.
Glad I’m from India xD
Move your headquarters to Dubai lol.
Hey thanks, I am not at my home rn, I’ll DM you asap when I’ll be free
Come to Bosnia
UPDATE: We have confirmed everything with our law team and DAC7 forms are coming by the end of the year.
Crap