La VERDAD Detrás De CRYPTOSPAIN | Carlos Gil - Asesor Fiscal

Summary

The 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.