India Introduces 30 Percent Tax on Cryptocurrencies

To date, abstaining from cryptocurrencies Indiamade remarkable statements. In statements made by government officials, it was announced that the country plans to develop its official digital currency. On the other hand, it is also for cryptocurrency trading and NFT revenues. astonishing tax rate.

In the statements made by Indian Finance Minister Nirmala Sitharaman, the future of digital money within 1 year intended to be made available. Referring to the size of the money in the digital world, Minister Sitharaman said that the tax regime is like in traditional financial systems. can’t be argued. However, the continuation of the explanation does not seem plausible.

30 percent tax is considered

According to the statements of Nirmala Sitharaman, the full amount of income from cryptocurrencies in India 30 percent will be deducted as tax. This rate is unprecedentedly high. If the regulation only covers NFT revenues, it would be somewhat acceptable, but a similar situation will be experienced in stock market revenues. will ignite the debate looks like. The most important question in mind is that the Indian government, which shares 30 percent of the investor’s profit, damage in case of what will it do…

Statement by the government of India, cryptocurrencies will be officially recognized means. A similar study is carried out in Turkey. As it is known, the government has been working on a bill that includes regulations on cryptocurrencies for a long time. According to the latest information, the law in Turkey, rather than taxation to investor protection will focus. If we don’t come across a big surprise at this point, with the law that we can be an example to the whole world and that we can make Turkey the center of crypto money. must not be forgotten.