Taxes/exemptions on Forex trading?
Hello everyone,
I recently started Forex trading and have made about €200 in profit to date. I deposited €250 from my bank account.
I use Meta Trader 4 for trading.
To my question:
What taxes etc. do I have to pay if I want to withdraw the €200 winnings?
Ps I have not registered a business.
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What does that mean? You speak of Figures . What does that mean?
If you sell currencies with profit, then you realize the profit at the moment of sale. You'll explain it with the SO system of the tax return. The tax is calculated according to your personal tax rate.
EDIT: although I was very convinced of my opinion, it is obviously wrong, see the comments of Mungukun.
After the BMF writing of May 19, 2022 "Single questions on deduction tax" – IV C 1 – S 2252/19/10003 :009 – 2022/0457871 Paragraph 2 Rz. 9 is one of the foreign exchange transactions in the sense of § 20 para. 1 No 3 EStG and are thus capital gains and are subject to the deduction tax and thus to the tax rate according to § 32d EStG of 25%
25% as with all capital income acc. § 32d EStG. Except as yet unused savings amount.
If this is a domestic broker, he should deduct the capital income tax for you. I don't know the broker.
You don't have to, as long as you're just trading with your money.
Profits from foreign exchange trading are not capital income. The taxation thus deviates from these.
I've been looking extra again. After the BMF writing of May 19, 2022 "Single questions on deduction tax" – IV C 1 – S 2252/19/10003 :009 – 2022/0457871 Paragraph 2 Rz. 9 is one of the foreign exchange transactions in the sense of § 20 para. 1 No 3 EStG and are thus clearly capital gains.
I know that differently. Foreign exchange transactions fall under § 20 para. 1 No 7 pp. 1 EStG
The fact that the profits of the deduction tax are subject to the quick search via Google: https://www.asktraders.com/en/traden-lernen/trading-ratgeber/devisenhandelssteuer/ or https://www.aktiendepot.com/devisenhandelssteuer/
I cannot confirm your acceptance as other income. Do you have a source of your interpretation?
Thanks for the praise!
No, if I hadn't been so sure, then I wouldn't be so far out of the window.
It's great for the first time you've got your mistake. The backbone doesn't have everyone.
While you have made me feel bad, as I am usually used to good contributions from you (sometimes you know the users who regularly post here).
After all, I wasn't 100% right. I had the right type of arrival, but the wrong reasoning (paragraph 1(7) instead of correct para. (2). So we both learned something about it today by your wrong opinion. This is also a discussion at best:)
Phew, I was totally convinced of my opinion again. But in the end I have to give you the right!
If no deduction tax has been deducted, you will have to pay 25% of capital income tax (in this case 50 euros) when you realize your profits. However, up to 1,000 euros of capital are allowed to release each year (no taxes have to be paid).
Alex
No, this is not capital income.
But it is very good.
Okay, yeah, obviously that's true.
25%
Don't need a business.