Yes!!! The government want their money
Best of luck. Take Care
There are only two guarantees in life death and taxes.
The government taxes gains from forex and equities equally.
In the end it doesn't matter if you are paying tax on your gains as at least you are generating a return!
Taxes are different in every country. Most countries world wide will charge you taxes on forex. ch type of taxes?
Forex can fall under capital gains or income tax depending on the country you are operating in.
If trading is your only source of income, you Forex revenue will most probably fall under the income tax in most jurisdictions.
You need to investigate with your local authorities if the taxes you pay are considered income tax or capital gain tax.
Here are countries where you do not pay taxes:
http://blog.keytomarkets.com/faq-forex/3...
In the stock market, the government taxes the profits you have made, but if you make a loss, you don't get a "lesser" tax. Does this same principle apply for Forex?
