What Are Cryptocurrency Tax Rates by Country? Which Country Is More Advantageous?

Cryptocurrency While the regulations differ from country to country, the most important pillar of these regulations for investors is the tax part.

Cryptocurrency regulations have not yet been implemented in many parts of the world. Turkey is among these countries.

Due to the lack of a clear regulation on this subject in accordance with the principle of the legality of the tax, we do not see a crypto money tax application in Turkey yet.

While Turkey is moving slowly on crypto money regulations, it is considered that regulations to be made in the USA and Europe are expected as an example.

Although there is no tax collection from crypto money earnings in Turkey yet, this is not the case anywhere in the world.

Cryptocurrency Tax Regulations by Country

Coincub has announced the world’s “tax havens” and worst countries for crypto investors in a report released today.

According to the report cryptocurrency in terms of income tax worst country Belgium it happened.

In Belgium, a massive 33% tax is levied on earnings from cryptocurrency transactions. This rate rises to 50% for those who trade crypto professionally.

Countries with Strict Tax Rules on Cryptocurrencies

Other countries that are not eligible for tax regulation are as follows:

Iceland, It charges 40% tax on crypto earnings up to $7000 and 46% tax on larger earnings.

Israel, It charges 33% income tax on cryptocurrency earnings. In some cases, this rate can go up to 50%.

Philippines, Earnings below $4500 are no tax, but earnings above that are taxed at 35%.

Japan, It has a progressive tax system. An income tax of between 5% and 45% is levied on earnings.

Other countries with strict cryptocurrency tax regulations, according to the report, are: India, Austria, USA, Norway, Denmark and France.

Crypto Friendly Countries

cryptocurrencies one of the tax-friendly countries Germany took place. Income tax is not levied on people who hold cryptocurrency for at least 1 year in Germany. Cryptocurrency tax-friendly countries include Italy, Switzerland, Singapore, and Slovenia.

Cryptocurrency Tax Havens

cryptocurrencies The “tax havens”, which do not contain any tax regulations for taxpayers, are as follows: Bahamas, Bermuda, Belarus, United Arab Emirates, Central African Republic.