I was wondering if some #Taipei Tech Forum  #Crypto enthusiasts could help me answer some questions.

1. What is the best way for a Taiwanese person to cash out i.e. send money back into a Taiwanese bank account? Is Kraken a good option?

2. I was reading that there is some kind of tax-free ‘international’ allowance for Taiwanese people. Is this true?

Thanks! 

Taipei Tech Forum

Crypto

I was wondering if some #Taipei Tech Forum  #Crypto enthusiasts could help me answer some questions.  1. What is the best way for a Taiwanese person to cash out i.e. send money back into a Taiwanese bank account? Is Kraken a good option?  2. I was reading that there is some kind of tax-free ‘international’ allowance for Taiwanese people. Is this true?  Thanks!

Tasia

WRT q2, there's an exemption of the first $6.7M of overseas income. https://english.cw.com.tw/article/article.action?id=3260. You can find further information about this on the tax authority's website. There's also not a specific capital gains tax in Taiwan, as its treated as ordinary income https://taxsummaries.pwc.com/taiwan/individual/income-determination, hence the above exemption.

Even with the recent precipitous decline of cryptocurrency prices, early investors have cashed in dozens of times on their investment in the past several years to join the ranks of a newly rich. Some,

How Taiwan’s new crypto rich evade taxes｜Industry｜2022-07-11｜CommonWealth Magazine Vol.752

Jerome Cody

Check out AvaTrade https://www.avatrade.com/

Taiwan does not impose any specific taxes or restrictions on crypto transactions, pretty sure it just falls into standard income

Cyril

for 1 - try MaiCoin 
https://www.maicoin.com/

for 1 - try MaiCoin  https://www.maicoin.com/

Tasia

A group of likeminded people in Crypto are talking about this.