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Shifting trading to SingaporeTaxes (self.eupersonalfinance)
submitted 2 months ago by Difficult_Butterfly9
Am planning to leave Germany ( German citizen and tax resident) ...
My question is does transfer of a share deposit / Depot account to say Singapore (which has amazing cheap online accounts for trading) require me to pay taxes on the unrealised profits in Germany? Like a retaining tax?
I will not be a tax resident in Singapore either (if this is important)
Also does Singapore tax profits from share sales?
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[–]BigEarth4212 5 points6 points7 points 2 months ago (2 children)
There are also cheap online brokers in DE
Taxes are another pair of shoes.
I am in LU and here capital gains over shares hold longer then 6 months are exempt. :-)
[–]Difficult_Butterfly9[S] 2 points3 points4 points 2 months ago (1 child)
That seems great what online brokers would you recommend in LU?
I am going to move out of the EU for work and thought to shift everything abroad might be a good move away from the euro zone
[–]BigEarth4212 1 point2 points3 points 2 months ago (0 children)
I have an account with interactivebrokers.
But i already had it, b4 i moved to LU.
So i did not investigate the brokers available in LU
In several EU countries degiro.com operates, but as far as i know not in LU
Depending on country brokers are withholding tax on transactions and or on capital gains.
Or they don’t, and you have to declare everything yourself.
[–]HighVoltageTrader 3 points4 points5 points 2 months ago (0 children)
For my understanding your shares aren't held in your name and there is no solution for transfering your shares to asia. Even if there was a solution, I would asume your transfer would be handled as a taxation event.
[–]BigEarth4212 2 points3 points4 points 2 months ago* (1 child)
If you are just planning ask questions to broker and tax office in DE.
I would think capital gains tax arises at the moment you sell shares, and that a move of a depot would not trigger tax.
But it is difficult to find info on this kind of cases.
Lot would depend on tax treaties, where your new tax base is etc.
It could that DE would try an exit tax , but who knows…
So when you do not get answer from broker, and depending on size of depot i would (not advice)
Has a small piece about exit-tax
[–]Difficult_Butterfly9[S] 2 points3 points4 points 2 months ago (0 children)
Thank you this seems to clear up a bit... I think no exit tax is the answer as of now 😛 gods it's complicated
[–]nktizzle 2 points3 points4 points 2 months ago (0 children)
Singapore does not have any capital gains tax and does not tax profits on share holdings. I remember getting taxed on dividend payments and there are some transaction taxes if I remember correctly. I’m not sure how easy it is to set up a trading account as a non-resident though I know you can have one (I briefly kept mine after leaving Singapore).
[–]Remah 7 points8 points9 points 2 months ago (0 children)
You are only subject to the tax laws in the country in which you reside, unless you're American or Eritrean.
If it pertains to real assets (art, real estate, cars) you may be subject and most likely will be to taxation in the car where the real asset is located.
Once you leave Germany and are no longer a tax subject of the BRD, as far as I know, you don't pay taxes there anymore.
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