La VERDAD Detrás De CRYPTOSPAIN | Carlos Gil - Asesor Fiscal

No Solo Éxito

14 Jul 202410:33

Summary

TLDRThe video script discusses the heavy tax burden on workers who often lack deductions and the negative impact of Spain's tax system, which has driven talented individuals to leave the country. It touches on the influence of Pedro BV's viral video about paying taxes to the Spanish public treasury and the widespread misinformation about tax strategies. The script also addresses the use of LLCs for tax optimization, the importance of understanding the legal implications of such strategies, and the potential risks of non-compliance with tax regulations, including the possibility of severe penalties and legal consequences.

Takeaways

😔 Workers unknowingly pay the most in taxes and cannot deduct expenses like businesses can.
💼 Taxes are levied on various aspects of life, including buying, selling, inheriting, and even dying, highlighting the pervasiveness of the tax system.
📉 High taxes in Spain are driving talented individuals to move to other countries to avoid the heavy tax burden.
🔥 Pedro BV's video went viral, criticizing the Spanish tax system and sparking discussions on tax strategies.
🤔 There are two sides to the tax discussion: awareness-raising and potentially misleading tax evasion strategies.
🏦 Having a foreign bank account can be risky if not managed correctly, as it may lead to misunderstandings about tax obligations.
📈 The popularity of cryptocurrencies and LLCs (Limited Liability Companies) has increased due to their perceived tax benefits.
🇪🇸 In Spain, an LLC's profits must be taxed in the country of origin of the partners, which complicates tax planning for Spanish residents.
📊 The Spanish tax agency can track LLCs by reviewing annual model 347 forms, which report passive income from foreign entities.
🚫 Tax evasion strategies involving foreign bank accounts or LLCs can lead to severe penalties if discovered.
🛑 It's crucial for individuals to understand the legal implications of their tax strategies to avoid future legal issues and financial ruin.

Q & A

Who are the people most affected by taxes according to the transcript?
-The transcript suggests that workers are the ones most affected by taxes, as they cannot deduct expenses and are subject to various forms of taxation on their income, purchases, property, and even in the event of death.
What is the speaker's opinion on Spain's tax system?
-The speaker believes that Spain's tax system is one of the worst, causing a significant number of talented individuals to leave the country due to the heavy tax burden.
What is the connection between the video by Pedro BV and the topic of taxes discussed in the transcript?
-The video by Pedro BV went viral because it highlighted the issue of high taxes in Spain, particularly the burden on workers and the perceived unfairness of the system.
Why does the speaker mention 'strategies of fiscal illusion' in the context of the transcript?
-The speaker refers to 'strategies of fiscal illusion' as certain tax evasion tactics that are not valid for everyone and can lead to severe consequences if pursued without proper understanding or legal advice.
What is the speaker's view on the role of Luis de Cristal Pain in the discussion of fiscal matters?
-The speaker acknowledges Luis de Cristal Pain as a figure who has brought fiscal issues to the forefront, opening up the market for discussions on taxes, but also warns against blindly following his advice without understanding the legal implications.
What is the difference between an LLC and being self-employed or having a limited company in Spain according to the speaker?
-The speaker explains that while an LLC can be a useful tool for managing foreign clients or digital services, it is important for residents in Spain to maintain a separate self-employed status or limited company for domestic operations to avoid tax complications.
Why does the speaker warn against using an LLC without proper legal and fiscal advice?
-The speaker cautions that using an LLC without proper advice can lead to legal issues, as the benefits derived from an LLC are subject to taxation in the country of origin of the partners, which could lead to unexpected tax liabilities.
What is the significance of the speaker mentioning the 347 tax form in the context of an LLC providing services to a Spanish company?
-The 347 tax form is used to report passive subject operations, and if an LLC provides services to a Spanish company and the annual amount exceeds 3,000 euros, it must be declared. This is a way for the Spanish tax authorities to monitor and potentially investigate such transactions.
What is the risk associated with having a foreign bank account and not declaring it properly according to the transcript?
-The risk is that the Spanish tax authorities may investigate and require information about the account. If the account is not declared properly, it can lead to penalties, fines, and legal consequences.
What advice does the speaker give regarding the use of an LLC for tax optimization?
-The speaker advises that while an LLC can be used for tax optimization, it should be done with coherence and within the legal framework. They emphasize the importance of having a proper fiscal structure and legal advice to avoid potential risks.
What is the speaker's final recommendation for individuals residing in Spain who are considering tax optimization strategies?
-The speaker recommends that individuals residing in Spain should ensure they have a proper fiscal structure in place, such as being self-employed or having a limited company, and use an LLC only as an accessory for managing foreign clients or services.

Outlines

00:00

😤 Tax Burden and Worker Exploitation

The speaker discusses the heavy tax burden on workers who are often unaware of their financial exploitation. Workers are unable to deduct expenses and are subject to various taxes such as VAT on purchases, property taxes, and even inheritance or death taxes. The speaker mentions a viral video by Pedro BV, criticizing the Spanish tax system as one of the worst, and acknowledges the negative impact of high taxes on talented individuals leaving the country. The speaker also addresses the topic of fiscal strategies and the misinformation spread by influential figures like Luis de Gritos Pain, who promotes fiscal strategies that may not be universally valid.

05:02

🤔 The Risks and Realities of Offshore LLCs

This paragraph delves into the complexities and potential legal risks associated with setting up an LLC (Limited Liability Company) in a foreign country to evade taxes. The speaker warns about the dangers of misinformation and the consequences of not having proper legal and tax advisory structures in place. The discussion includes the Spanish tax authority's ability to investigate and the importance of declaring foreign bank accounts with balances exceeding 50,000 euros. The speaker emphasizes the importance of being transparent and coherent in fiscal strategies to avoid severe penalties and legal repercussions.

10:02

😠 Inadequate Use of LLCs for Tax Evasion

The speaker criticizes the misuse of LLCs for tax evasion purposes, especially by those who are not properly informed or advised. The paragraph highlights the importance of using an LLC in a coherent manner and the potential pitfalls of attempting to move out of Spain without a solid legal and fiscal strategy. The speaker points out that while some professionals are using LLCs effectively, others are doing so poorly, leading to potential legal issues and financial instability.

Mindmap

Keywords

💡Taxes

Taxes are mandatory financial charges imposed by a government on individuals and entities to fund public expenditures. In the video's context, it discusses the heavy tax burden on workers who cannot deduct expenses and the perception that the tax system is unfair or overly burdensome. The script mentions, 'los que más pagan de impuestos realmente, y no lo saben son los trabajadores,' highlighting the theme of tax awareness and the impact on the working class.

💡Deductions

Deductions refer to reductions in an individual's taxable income, allowing them to pay less tax. The script points out that workers cannot deduct expenses or 'deductir gastos,' which contributes to their tax burden and is a central point in the discussion about tax fairness and the need for tax education.

💡Nominal Wage

Nominal wage is the actual amount of money paid to an employee before any deductions. The script uses the term 'tu nómina' to illustrate the starting point for workers' financial transactions, including tax obligations and the purchase of goods and services.

💡IVA (Value Added Tax)

IVA, or Value Added Tax, is a consumption tax levied on products and services at each stage of the supply chain. The video mentions 'pagar el IVA' to emphasize the multiple tax payments individuals make, even on everyday purchases, contributing to the overall tax burden.

💡Property Tax

Property tax is a levy on real estate owned by individuals or entities. The script mentions 'pagamos por tener nuestra propia casa,' indicating that owning property comes with tax implications, adding to the overall financial responsibilities of individuals.

💡Inheritance Tax

Inheritance tax is a tax paid on the estate of a deceased person before it is distributed to the heirs. The video script refers to 'si heredamos también pagamos,' showing that even in the event of inheritance, taxes are a factor that affects the distribution of wealth.

💡Fiscal Strategy

Fiscal strategy involves planning and organizing financial affairs to minimize tax liabilities legally. The script discusses 'estrategias de ilusión fiscal' and the importance of understanding valid tax strategies to avoid penalties and legal issues.

💡LLC (Limited Liability Company)

An LLC is a business structure that provides limited liability to its owners and offers tax benefits. The script mentions using an LLC to manage foreign clients or digital services, illustrating the use of business structures to optimize tax positions legally.

💡Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptography for security. The video references the popularity of cryptocurrencies, like 'crypt of pain,' and the discussions around their use in tax evasion strategies, which is a controversial topic within the fiscal strategy debate.

💡Tax Evasion

Tax evasion is the illegal act of not paying taxes due to the government by willfully evading tax regulations. The script contrasts 'eludir impuestos' with 'evadir impuestos,' highlighting the difference between legal tax avoidance and illegal evasion.

💡Tax Haven

A tax haven is a country or jurisdiction with low-tax or no-tax policies that attract individuals and businesses for tax purposes. The script mentions 'una cuenta bancaria en el extranjero' and the potential for using foreign bank accounts to avoid or evade taxes, which is a common practice associated with tax havens.

💡Tax Compliance

Tax compliance refers to the act of adhering to tax laws and regulations. The video script warns about the consequences of non-compliance, such as 'llegar a la puerta' and the potential for legal action, emphasizing the importance of understanding and following tax laws.

Highlights

Workers unknowingly pay the most in taxes and cannot deduct expenses.

Spanish tax system criticized as one of the worst, leading to a brain drain of talented individuals.

Discussion on fiscal strategies and the importance of understanding tax implications.

Misleading tax strategies discussed, which may not be valid for everyone.

The role of Pedro BV in raising awareness about tax issues in Spain.

Differences between being self-employed and having a limited company when starting a business.

The rise of cryptocurrencies and their impact on discussions about tax evasion.

The importance of distinguishing between tax evasion and tax avoidance.

Advantages of having a Limited Liability Company (LLC) for international clients.

Risks associated with not having proper tax advisory when setting up an LLC.

The requirement for Spanish residents to declare profits from an LLC.

Potential legal consequences of not declaring foreign bank accounts with significant balances.

The impact of artificial intelligence on tracking and tracing undeclared foreign accounts.

The importance of proper tax structuring and the risks of not doing so.

The role of foreign bank accounts in tax strategies and the associated risks.

The significance of the 720 form for declaring foreign bank accounts and assets.

The potential for the Spanish tax authority to investigate and audit undeclared foreign transactions.

The difference in tax treatment for foreign-sourced income depending on residency.

The importance of coherence and proper structuring in tax optimization strategies.