Latvia how to cash out without paying taxes?
There is currently no way of avoiding paying crypto taxes in Latvia. However, it is possible to route your crypto to a country with very low or no crypto taxation to cash out. This approach is an easy and legal way to reduce the cost of cashing out your cryptocurrency.
The tax rate for income derived from capital gains is 20% when selling. According to the Latvian PIT Act, cryptocurrency is categorized as a capital asset, and it falls under the standard capital gains tax regulations. Social contributions are not a part of this taxation.
Resource: https://taxsummaries.pwc.com/latvia/individual/taxes-on-personal-income
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