Zimra demands taxes in forex - Bulawayo24 News

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How much do you have to make to file for taxes on Forex income?

do you have to just make less than what your state requires for taxing? So let's say I made 2k trading but my state says I don't have to file taxes unless I make 3k or more, then do I not have to file?
submitted by FaithSkater to Forex [link] [comments]

taxes on forex trading

Hello, I've been doing some forex trading (~$500) for the past year. What should I include in my tax return about this investment ? Or is it necessary to include this being a small amount ?
submitted by retiredadmiral to cantax [link] [comments]

[Business] - Coronavirus fallout: Turkey hikes tax on forex transactions to 1pct from 0.2 pct | Al Arabiya

[Business] - Coronavirus fallout: Turkey hikes tax on forex transactions to 1pct from 0.2 pct | Al Arabiya submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Business] - Coronavirus fallout: Turkey hikes tax on forex transactions to 1pct from 0.2 pct

[Business] - Coronavirus fallout: Turkey hikes tax on forex transactions to 1pct from 0.2 pct submitted by AutoNewsAdmin to ARABIYAauto [link] [comments]

Tax on forex trading in Canada

I just started trading forex a few months ago and went from $10k to $14k on Oanda. When do I have to pay taxes? Is it only when I withdraw the funds from Oanda or is it on realized P/L?
Also, is this taxed as capitals gains?
submitted by slardar2019 to CanadianInvestor [link] [comments]

Tax on Forex trading

Hey guys, I live in the UK and ive just joined my friends company on the forex market. He uses a bot to predict the market and it work extremely well. I’ve only invested £500 and been doing it for 2 days and already made 5% profit on my investment. I’m just curious as to what I would have to pay in tax. I have a full time job and pay tax on that already at 20% but I was told by my friend that they don’t take that into account and I won’t have to pay tax until I earn over £10,000.
This seems too good to be true to me, they said it came under capital gains tax and that what they were doing was not spread betting as they are using a bot.
Can anyone shed any light on this for me? I’m not very savvy with this as I stated I’ve only been doing this for 2 days and I literally do nothing, all I’ve done is put £500 in and it’s making me profit.
Thanks in advance
submitted by DustyUK to Forex [link] [comments]

[World] - Turkey hikes tax on forex deposits to prop up lira

[World] - Turkey hikes tax on forex deposits to prop up lira submitted by AutoNewsAdmin to FRANCE24auto [link] [comments]

[Business] - Turkey hikes tax on forex deposits to prop up lira | Al Arabiya

[Business] - Turkey hikes tax on forex deposits to prop up lira | Al Arabiya submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Business] - Turkey hikes tax on forex deposits to prop up lira

[Business] - Turkey hikes tax on forex deposits to prop up lira submitted by AutoNewsAdmin to ARABIYAauto [link] [comments]

[World] - Turkey hikes tax on forex deposits to prop up lira | France24

[World] - Turkey hikes tax on forex deposits to prop up lira | France24 submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

How do you report capital gains tax on forex trading?

For tax season, (for nonprofessional traders) when you report capital gains tax on your forex trading (and CFDs etc), do you enter each and every trade separately? Or do you calculate a total figure and just report that? After making many trades every day, it seem ridiculous to declare each and every trade separately for capital gain tax. Hows it done?
submitted by bigtimedime to Forex [link] [comments]

Capital gains tax on FOREX?

Me and my friend have been playing around shorting the AUD the last couple of weeks, done quite successfully as you may have guessed. My concern is reading somewhere that FOREX returns need be taxed 50% under the capital gains tax? Am I just batshit crazy or am I about to give 50% of my earnings to the government. Google forums are quite vague.
submitted by bad_rice to AusFinance [link] [comments]

Questions of Inexperience

i started trading in october of last year. when i joined a lot of people i knew recommended Hugo’s Way, which is an unregulated broker. although i haven’t and the guys who told me have never had a bad experience with them, it just really concerns me in the back of my mind that it’s a risk. (i really do like their site though, it’s simple to use and easy to withdraw) so with that being said, i have a couple of questions ..
1.) is it illegal to USE unregulated and or offshore brokers as a US citizen?
2.) will it effect me paying my taxes on forex?
3.) i obviously haven’t made a lot of income yet as a new trader, so should i be worried about filing my taxes from 2019?
4.) how much income as a trader should i bring in before i start having to report it to the IRS?
if anyone can answer these questions for me, it will be greatly appreciated lol. googling them hasn’t been giving me the most direct answers i’ve been looking for, but i did see a few other reddit posts that helped generate an answer.
submitted by MajTheAlmighty to Forex [link] [comments]

Need help understanding taxes on the forex UK

I have been trading on the practice account on the trading 212 app. It has got me interested and I was wondering how taxing would work I haven’t found a real answer yet. I would only be trading on the forex as I have found it to have the best turn around.
submitted by mattski54321 to personalfinance [link] [comments]

If I'm unemployed and I profit more than £12,500 a year (tax-free allowance) trading Forex, will I have to pay income tax on all profits above £12,500?

Also, when do I declare it as income? Does it count as income when my Forex account balance increases, or when I actually withdraw the funds into my bank account?
So lets say that I gain £20,000 this year trading Forex, but this stays in my Forex account (I don't withdraw any money into my bank account). Will I have to declare it as income and pay taxes on it? Or is that only if I withdraw the profits into my bank account?
(by the way, I am spread betting, therefore there is no stamp duty or capital gains tax).
submitted by RapidActionBattalion to UKPersonalFinance [link] [comments]

Paying "TAX" as a trader on Forex

I have a question regarding tax, How do you guys pay the feds on your trading income?
Example: On The United States
submitted by jamemadisonn to Forex [link] [comments]

What is the tax stipulation on Forex or stock profits here?

submitted by IMGNACUM to ireland [link] [comments]

Tax on Foreign Exchange Conversion Service under GST

Tax on Foreign Exchange Conversion Service under GST
The implementation of GST (Goods And Service Tax) on July 1, 2017 has revised the tax structure of transactions on several goods and services, including forex services in India. The revised rates for forex services come as a welcome move as the taxes often lie between 0.05% to 0.18% of the total forex transaction. When partaking in any kind of foreign exchange services like currency exchange, money transfer, or buying a forex card, one is only expected to pay the GST; and as per the directive from the Government of India, one is expected to pay 18% on the forex transactions that comes under the taxable value bracket.
So what is “taxable value”? Taxable value is the set portion of the transaction upon which tax is levied. This reduces the amount of tax one has to pay on forex services greatly. Currently the government has set up 3 slabs of taxable value, based on the amounts of transactions.
Slab 1: Up To Rs. 1 Lakh: On forex transactions up to Rs. 1 lakh, the taxable value stands at 1%, and the minimum taxable value is at Rs. 250.
Here 1% of Rs. 25,000 is Rs. 250. Thus for transactions up to Rs. 25,000, the taxable value is Rs. 250.
18% of this taxable value (Rs. 250) is a mere Rs. 45.
Hence the minimum tax one has to pay in Slab 1 is Rs. 45.
Similarly, the maximum payable tax is Rs. 180.
Slab 2: Rs. 1 Lakh to Rs. 10 Lakh: In Slab 2, the taxable value is calculated as 1000 + 0.5% of the amount above 1 lakh.
Considering the value of transaction to be Rs. 5 lakh, then
Taxable value = 1000 + (0.5% * 4) = 1000 + 2000 = 3000
Actual tax = 18% of 3000 = Rs. 540.
Similarly, calculating the lower limit (tax on Rs. 1 lakh transaction) and upper limit (tax on Rs. 10 lakh transaction), we get the lower and upper limit of taxes for Slab 2, which is Rs. 180 and Rs. 990, respectively.
To know more about Service Tax on Forex Transactions in India, visit source blog.
Source: https://yourexpertguide.wordpress.com/2019/04/12/tax-you-have-to-pay-on-foreign-exchange-transactions-in-india/

https://preview.redd.it/ea33mq8vles21.png?width=1400&format=png&auto=webp&s=9d6317492a9ee544fb60b392e7fd9b938e10b721
submitted by travelmoneyindia to u/travelmoneyindia [link] [comments]

Do you need to pay taxes on the forex profit you made if you don’t withdraw it from your account? (Canada)

Pretty self explanatory but I saw no talk related to the money you keep in your trading account. Is it still taxable if you don’t withdraw it in Canada?
Thank you!
submitted by canadianbonaparte to Forex [link] [comments]

How do you file taxes on your Forex trades?

Hey I’m just starting out trading on the Forex market, and I just wanted to know as a resident of the United States what are the steps or process you go about to file your taxes on the earning you made off of Forex?
submitted by strEss_out090 to Forex [link] [comments]

It is estimated that a 'Robin Hood tax' charging 0.01-0.5% on forex trades, stock trades etc. would generate $177–354 billion

It is estimated that a 'Robin Hood tax' charging 0.01-0.5% on forex trades, stock trades etc. would generate $177–354 billion submitted by rooshiamarodnimad to YangForPresidentHQ [link] [comments]

Can I report Forex trading losses from 2014 on my 2015 taxes as capital losses or is it too late?

I lost some money in 2014 when I was Forex trading and I didn't file it as a loss then. Is it possible to file the loss for tax credit for 2015?
submitted by RokHoppa to personalfinance [link] [comments]

Do Forex Traders Pay Taxes? - YouTube Day Trading How to File Taxes with US and Offshore Brokers Tax Treatment of Forex Income - YouTube Forex Taxes On Trading With IML No Tax Withdrawals #FOREX

Forex traders in the US who trade with a US broker have two options available to file their taxes. The two sections of the tax code relevant to US traders are Section 988 and Section 1256. Both sections were initially applied to forward contracts, but nowadays they’re also relevant to retail Forex traders. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Forex. Best Forex Brokers How to Trade Forex How to Read Forex Charts ... whatever gains you make on a taxable brokerage account, you’ll have to pay taxes on those gains during that tax year. Zimra demands taxes in forex. by Staff reporter 21 Aug 2020 at 07:50hrs Views THE Zimbabwe Revenue Authority (Zimra) says a new law will shortly be introduced compelling companies transacting in ... Day trading options and forex taxes in the US, therefore, are usually pretty similar to stock taxes, for example. Having said that, there remain some asset specific rules to take note of. Futures. Gains and losses under futures taxes follow the ’60/40’ rule. The rate that you will pay on your gains will depend on your income. 60% of the ...

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Do Forex Traders Pay Taxes? - YouTube

Hey everyone! This is the 6th video in my December to Remember series and today I will be touching on how forex taxes are paid. I am NOT a tax professional, ... https://www.intensitystockwatch.com/kevinisw.html Use referral code ISWKEVIN when signing up to Intensity Stock Watch and you will get 30% off the regular pr... **This video is not intended to be tax advice. Seek your own tax professional about your personal tax situation. ** Grab a copy of the Home Business Success ... (Forex Taxes) How To File - So Darn Easy Forex™ - Duration: 19:28. So Darn Easy Forex University 10,404 views. 19:28. How Currency Traders Can Slash Their Taxes Big Time! 👉 Forex training and signals - http://maximainvestments.com/live EMAIL ME ABOUT THE LIVE TRADING WORKSHOP - [email protected] Become a brother in ...

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