How is crypto taxed in different countries?

WhiteBIT
Published 27 December 2021
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Cryptocurrency taxation varies from country to country. Some governments do not levy taxes on crypto investments in order to attract more investors. Others require a high price for the ability to work with cryptos legally.

🇺🇸 USA

✔️ Taxes are paid on both cryptocurrency-based income and trading/investment.

✔️ Short-term investments (less than a year) have lower rates.

✔️ An individual income bracket is taken into account when calculating a personal crypto tax.

🇯🇵 Japan

✔️ Cryptocurrency income is classified as Miscellaneous and is taxed at up to 45% rate.

✔️ High taxation causes a big number of under-reported crypto earnings.

✔️ The amount of the crypto tax a Japanese pays depends on the individual income bracket.

🇳🇮 El Salvador 

✔️ El Salvador was the first country to recognize Bitcoin as a legal tender.

✔️ Foreign investors are exempt from paying taxes on Bitcoin.

✔️ The government plans to build the first Bitcoin City free of income, property, and capital gains taxes.

🇪🇺 EU countries

Germany & Portugal do not impose taxes on cryptocurrency income. The remaining countries levy. Other income, capital gains & other types of crypto taxes.

WhiteBIT Team

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