How much tax do u pay in your country from revenue earned trading forex?
Found out today that in the USA 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%)
So i want you to tell me how much u pay in your country.pls follow the format;
Country = X%
(Comment if any)
oo. dunno... I will try to search about it and then I will tell u.
The good or ill of a man lies within his own will. – Epictetus
In the UK, FOREX Trading is tax FREE (0% tax on FOREX profits) if you trade through a spread betting account, which works in the same way as a standard account.
thanx for your contributions,...........i will be very glad if other traders contribute to this thread too as well....... :D
I dont think there is any sort of tax on forex earnings here. But there is tax on if we trade in local stock markets.
Stick to your rules
I also thought there is no tax in forex. I'm just not sure with the US. It seems they do have because forex brokers find it hard to accept US residents...
I am a hosted slave beta.
Originally posted by megrawabI also thought there is no tax in forex. I'm just not sure with the US. It seems they do have because forex brokers find it hard to accept US residents...
Same here. No tax.
Originally posted by megrawabI also thought there is no tax in forex. I'm just not sure with the US. It seems they do have because forex brokers find it hard to accept US residents...
Yes, this will be one of the main reasons. U.S. is making forex trading complicated for its clients
The good or ill of a man lies within his own will. – Epictetus
There will be some sort of tax. Afterall its an earning. It is possible that profits of individual traders are sometimes too small and that is why ignored for tax purposes. If someone here is from UK and knows about taxation there, then he may tell us if UK residents pay tax on earnings or not. I dont think that it is only US residents who pay tax.
Originally posted by ChampThere will be some sort of tax. Afterall its an earning. It is possible that profits of individual traders are sometimes too small and that is why ignored for tax purposes. If someone here is from UK and knows about taxation there, then he may tell us if UK residents pay tax on earnings or not. I dont think that it is only US residents who pay tax.
Even if we search on google, this question is raised by many traders. It means most of the traders do not pay any tax on forex earnings. Either there is no tax on forex or traders do not disclose their forex earnings to avoid tax (which is illegal).
The good or ill of a man lies within his own will. – Epictetus
Originally posted by ironical
Originally posted by Champ
There will be some sort of tax. Afterall its an earning. It is possible that profits of individual traders are sometimes too small and that is why ignored for tax purposes. If someone here is from UK and knows about taxation there, then he may tell us if UK residents pay tax on earnings or not. I dont think that it is only US residents who pay tax.
Even if we search on google, this question is raised by many traders. It means most of the traders do not pay any tax on forex earnings. Either there is no tax on forex or traders do not disclose their forex earnings to avoid tax (which is illegal).
I think it is not exempt. But maybe forex earnings is too small for most traders that is why it is exempt for them.