Welcome back dear readers of Invest In The Stock, we are pleased and honored to have you here with us again. In today’s article, we will talk about online trading, specifically, we will deal with Plus500 taxes, how they are paid and how much, and what must be included in the tax return.
Plus500 withdrawal, how does it work?
Let’s begin to see how the Plus500 withdrawal works, which on this trading platform is very safe and reliable, being able to categorically exclude the possibility of running into difficulties of any kind.
This is also confirmed by the numerous plus500 reviews, present on the main international trading sites and forums.
👉 Read also: Best Online Trading Platform 2023 For Investing
In fact, Plus500 can easily be defined as one of the safest online brokers on the scene.
Furthermore, this platform perfectly complies with all European anti-money laundering regulations, which prohibit financial transfers without being sure who the recipient is.
Given that Plus500 broker cannot pay any amount to traders who have registered with a false name, as the name of the recipient of wire transfers or other types of payment is different from the name given during registration.
👉 Must read: Best Forex Brokers, Which One To Choose
Therefore, even when making deposits, whether using a credit card or via Paypal, the holder must coincide with the owner of the payment method.
On the contrary, all the traders who created the Plus500 account correctly had no impediments and could withdraw on Plus500 without any problems.
👉 You might be interested in: Plus500 Affiliation | What is the Plus500 Affiliate Program
Plus500 Taxes, how much are they paid?
Now let’s see how taxes are paid on Plus500.
Like all online trading platforms, even Plus500, since it does not act as a withholding agent, it is necessary to pay the taxes in person, when completing the tax return.
In this case, a rate of 26% applies.
Eventually, it is necessary to contact a specialist in the sector, such as an accountant, who will be able to follow you in the process and in Plus500’s online support, which among other things, is available for any type of information you need.
Unfortunately, there are many traders who do not declare anything, not even trading earnings.
It should be emphasized that the 26% rate is not particularly high, and it is therefore very simple to file a tax return at the end of the year.
86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
How to pay less tax on trading?
For those who reside in Italy and decide not to pay the amount due, they are exposed to reprisals from the Revenue Agency, in the event of a financial control.
To tell the truth, a trick that many professional traders are carrying out is the change of residence.
Indeed, by abandoning Italy and moving to more welcoming countries, they will be able to pay less taxes, and this is totally legal and correct from all points of view.
As far as the Tobin Tax is concerned, the trading platform broker in question has a registered office abroad, so transactions are not subject to the Tobin Tax.
Well dear friends of Invest In The Stock, now you know everything about Plus500 taxes, so you won’t be unprepared at the time of your tax return.
Invest In The Stock, The Editorial Staff
© REPRODUCTION RESERVED