How to pay taxes on forex
Hello,
I've been wondering how to pay my taxes properly.
There are two main options:
1) as a natural person 13%
2) start a sole proprietorship (STS, type of taxation "income") and pay 6%
If as a natural person, everything is more or less clear. 13% without any variations.
1) If the broker will transfer payments to a personal account (not a sole proprietorship account), can I pay 6% as a sole proprietorship instead of 13% on personal income tax?
2) Another question, how do I avoid taxing my own refunds? For example, I paid a broker 1000 T.R. And returned 1100 m. rubles. Of these 1000 Tp is my own money, and the profit is only 100 Tp. The tax office will not ask for 6% of all receipts on the account (i.e. from the 1100 tp). How do I prove that the tax should be calculated from RUR 100? After all, expenses for a sole proprietorship under the "income" type of taxation are not taken into account. But there is a certain analogy with a bank deposit, I am not paying tax on my own money by closing the deposit, but only on interest exceeding 18.25% per annum.
There are some brokers who pay their own taxes, deducted on withdrawal, claiming to be a tax agent
The most common is the physical entity form, I don't know if everyone follows this or not....
Anyway, I do not understand the point with production costs, this point is mostly missed, office equipment, subscriptions, how much you have drained before (break-even level), books, courses..... formally, even now, for beginners, you need to collect all receipts and receipts for deposits, so 13% will be deducted when profitability starts, I still have not reached profitability level ... even though that's all I've been living on for the last five years.... it's time to pay taxes... but the broker can only show profits.... and my investments are not documented
1) A sole proprietorship may not necessarily receive income in its current account. Therefore, you may declare as income amounts received in other ways, including cash or receipts into other physical accounts. You should also declare the appropriate activity codes for the financial markets.
2) This is quite straightforward. If you are taxed at "income" (6%), the tax base is ALL the money transferred to the account. I.e. 1100. If you are "income minus expenses" (13%), the tax base is 100.
For individuals (who are not IE) working with the Russian dealing centres tax is not paid since personal income tax is withheld from DCs (although, for example, I have not seen agreements of IE with DCs to relieve them of personal income tax). Foreign ones do not pay personal income tax, so the tax must be paid.
But if you do not withdraw large sums of money, the Federal Financial Monitoring Service will not be interested in you.
There are some sophisticated brokers who pay their own taxes and deduct on withdrawal, claiming to be a tax agent
The most common form is a natural person, I don't know if everyone observes it or not....
Anyway, I do not understand the point with production costs, this point is mostly missed, office equipment, subscriptions, how much you have drained before (break-even level), books, courses..... formally, even now, for beginners, you need to collect all receipts and receipts for deposits, so 13% will be deducted when profitability starts, I still have not reached profitability level ... even though that's all I've been doing for the last five years.... it's time to pay taxes... but the broker can only show profits.... and my investments are not documented
"Production costs" i.e. expenses - this only applies to sole proprietorships and legal persons who work under the scheme of 15% c "income minus expenses". For forex, where expenses are clearly less than in a typical business, it is more profitable to operate under the 'income' scheme, i.e. to pay 6% on all income.
If you are in the kitchen, no one will pay taxes=) and there's no reason to do it.)
but if you have a broker like vtb, it's automatic.
If you are in the kitchen, no one will pay taxes=) and there's no reason to do it.)
but if you have a broker like vtb, it's automatic.
Have you tried working with vtb as a sole proprietorship?
Only brokers registered in the Russian Federation pay themselves. I am still looking at brokers with smaller spreads and commissions; I have chosen a couple of them, but they are foreign and are not tax agents in Russia. So I have to calculate and pay tax myself.
"Production costs" i.e. expenses - this only applies to sole proprietorships and legal entities operating under the 15% "income minus expenses" scheme. For forex, where expenses are clearly less than in a typical business, it is more profitable to operate under the "income" scheme, i.e. to pay 6% on all income.
1) A sole proprietorship may not necessarily receive income in its current account. Therefore, you may declare as income amounts received in other ways, including cash or receipts into other physical accounts. You should also declare the appropriate activity codes for the financial markets.
2) This is fairly straightforward. If you have "income" taxation (6%), the tax base is ALL the money transferred to the account. I.e. 1100. If you are "income minus expenses" (13%), the tax base is 100.
For individuals (who are not IE) working with the Russian dealing centres tax is not paid since personal income tax is withheld from DCs (although, for example, I have not seen agreements of IE with DCs to relieve them of personal income tax). Foreign ones do not pay personal income tax, so the tax must be paid.
But if you in principle do not withdraw large sums, then Rosfinmonitoring will not be interested in you.
1) Thank you! This is important as that foreign DC requires notarized translations of all documents to open a PE account... In short, it's a hassle. In general, it is easier to work with him as a natural person (for him), make a transfer to a personal account, and pay tax as a sole proprietorship 6%.
2) It seems to me that - not unambiguous. For the same legal entities, there are bank deposits in which they do not pay interest on the full amount when they withdraw the money, but only on the interest earned. The analogy with Forex is very close here. In bank we open a deposit, bank "twists and turns" them and earns, in Forex we open a deposit with brokerage companies and "twists and turns" ourselves. The difference is that the bank informs tax authorities when refunding money that it was a bank deposit and it was returned with interest. We have to prove this analogy to the tax authorities as well...
What figures do you use and for how long.... sorry if i'm being cheeky.... but these are important questions for a topic like this...
So far I've only lost money on forex (( But hope springs eternal... That's why I'm interested. Maybe I will find a successful strategy...
2) It seems to me that it is not unambiguous.
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I've been wondering how to pay my taxes properly.
The main options are 2:
1) as an individual 13%
2) To open an IE (STS, type of taxation "income") and pay 6%.
If you are a natural person, everything is more or less clear. 13% without any variations.
I am already a sole proprietorship USN 6% without employees.1) If the broker will transfer payments to a personal account (not a sole proprietorship account), can I pay 6% as a sole proprietorship instead of 13% on personal income tax?
2) Another question, how do I avoid taxing my own refunds? For example, I transferred 1,000 T.R. to a broker, and returned 1,100 T.R. And returned 1100 m. rubles. Of these 1000 Tp is my own money, and the profit is only 100 Tp. The tax office will not ask for 6% of all receipts on the account (i.e. from 1100 t.r.). How do I prove that the tax should be calculated from RUR 100? After all, expenses for a sole proprietorship under the "income" type of taxation are not taken into account. But there is a certain analogy with a bank deposit, I am not paying tax on my own money by closing the deposit, but only on interest exceeding 18.25% per annum.