Translated from Russian by Google Translate
24 Сентябрь 2008

Forex and taxes. Headache trader

Paying taxes embedded in human nature. Pay taxes and live peacefully. For example, or approximately so, there are many slogans and appeals to all kinds of advertising. Thus, it is true, but what to do if you are engaged in activities which are not fully settled law. As for the Forex market, in this area as there are big legal gaps that need to be regulated. This is particularly true of tax laws.


Any trader carrying out speculation in the market Forex concerned about declaring their income. But to be frank, it is worth noting that the tax authorities the greatest interest are exactly legal entities, as well as the amount of proceeds of such organizations much more than that of ordinary citizens. But because the control of all is not possible, focus on larger financial representatives diaspora.

Imagine yourself, is it possible to recruit such staff who were able to control all Hidden taxes «myshek»? Certainly not. True, we can assume that with the development of computerized accounting systems, the lives of many Debt taxes may significantly worsen. This is total computerization. And if the developed regions, this process does much more rapid steps, the In the Depth of such innovations remain the object of desires.

Forex Market is the place where the financial transactions and therefore, like any economic activity actors must fall within the scope of tax legislation. As for the law, then the term has no specific positions that would govern the tax treatment in this field, thus making operations in the Forex market, is guided by general principles, subject to regulation by a situation.

If you briefly touch on the current situation to date, the fair is worth noting that the tax rate quite so respectable. That would suggest that in carrying out transactions on the Forex market earnings, even taking into account tax ochistok would be very acceptable. All the trouble only thing once to calculate the amount of income derived from trade. And here comes the fun. It turns out you can get into the kind of trap, which was formed again, not without the help of the lack of legislation on the Forex.

What is a transaction in the currency market? It is buying and selling currencies. But everyone knows at least some of the features of trading on the currency market knows that the transaction by the trader, are carried out through a broker / broker credit leverage. And consider this as leverage under the letter of the law? All traders are opening and closing of positions. True, all in different ways. Who is more likely someone less. But the essence is that every time, opening the position, we have thus lending arm. And in this whole knot. This can be equated to obtain conventional loan, with the only difference being that in this case, the loan-free.

More - more. And if, say, a man of the year has committed more than one thousand transactions. Issued, during which time he received free credit and taxation will be subject to all the amounts of loans, which he received on each transaction. Imagine how much can go through a trading account trader for the year, with regular commerce with a large number of transactions, given the leverage provided at every transaction. For example, the company’s Forex Club leverage of 1:100. Now tally themselves, what amounts involved. If we consider this problem the eyes of tax inspectors, it goes, that you have received a significant benefit to using these credits. In fact, the real profits may be much less than the amount that would be subject to taxation under this situation. And this is just one of the problems of interpretation, where there is quite a lot. By the way, do not forget about the margin, which can also be interpreted in any tax as income.

So what is to count the income from trade? According to official interpretation, trading Forex is equivalent to exchange games. If you look at Chapter 25 of the Tax Code, it is possible to make sure that there are no special legal rules that would regulate the taxation of stock market games. Therefore, one can conclude that the negative outcome of such games can not be equated to the cost for the purpose of taxation. The positive outcome of the same stock of games to be included in the income, which produce increased tax base. Another issue is to prove the tax, the amount you have specified in the declaration corresponds to reality? It is unlikely that you believe in the word. We need to confirm the reliability of data. And to make it quite difficult.

Many find a way out of this situation by declaring income, indicating a source not Forex market, and other elements that fall under existing legislation. But it turns out that we again go contrary to the law as violating a number of legal requirements.
Perhaps all would be much easier if the situation was similar to that which prevailed in the stock market. Here is a tax agent is a broker, so it is their duty and is to perform all routine work related to taxes. In the case of the Forex market is much more difficult.

Forex Market is a profitable tool. Therefore, many traders who have large incomes are often thinking about their personal safety is much more than the tax issue. Any confidential information may be used for selfish interests. Therefore leakage of information - this is another cause for concern parties to exchange transactions in the Forex market. It is assumed that for some hidden information about the structures of large revenues from trade participants on the Forex market, will provide significant interest. With this in mind, one can conclude that, because the material interest of any person from the consequences of «plum» such information can be quite sad.

Does anyone, faced with the problem of paying taxes and read the Tax Code of the Russian Federation could be concluded that the content of articles can be interpreted quite space. The same applies to the Forex market, the provisions of which are not specifically stipulated in the law. This suggests that you run into in the field of tax, «fit» action under a breach not be difficult. And so much more than is hoped that the disposition of an article Revenue Code of the Russian Federation will be interpreted in your favor. All this is about. Of course, not worry if you are sufficiently wealthy lord who has at his disposal «puzaty» wallet, because in which case you will be able to protect the interests of qualified professionals. But what remains to do if you do not belong to the above categories? To protect their own interests? Certainly, this sphere of activity requires uzkoprofilnyh knowledge, so here again are quite vague.

As you can see the development of legislation in this area today is still «hobbling». Many of the provisions fit under any rule, in the absence of specific regulations that would govern this sphere of activity. One can only hope that over time this activity will be legally resolved and the problems will be much smaller. Meanwhile, participating in trading on the Forex market, is guided by existing legislation and practical advice of specialists that area.

In conclusion, it is noteworthy that the article deals with only some problems, which in reality much higher. We do not encourage you to evade paying taxes, by contrast, believe that it is easier to pay and sleep peacefully. But the whole problem is just so how to pay them in a manner that is uniquely interpreted according to the letter of the law and do not have to wrestle with how to specify a source for guidance in the declaration. As you can see, the matter is now sufficiently up-to-date, requiring necessarily solutions. In any case, we hope that in the near future these problems will be removed through legislative solution.