Re: Evident that Anti crypto approach is driving people away!
One who is controlling the finance only see the number in tax but they often fail to realize that by decreasing the tax rate they can increase the number of people participating in the crypto field thereby increasing the revenue generation overall. Which is why countries with low tax rates often get attention from rich and those country's economy will slowly starts developing from the investment and tax opportunity they create.
absolutely true
and 30 % tax makes no sense whatsoever on this
this is not gambling, this is not lottery, this is investing and calculative risk
they could have easily put it in the same capital gain tax as for stocks
which would have resulted in more people investing in crypto legally
more transparent transactions and more tax collected over gains in time
but i think the real reason why they don't like people investing in crypto is because
they missed out on the train themselves
and like kids mentality, if we don't win, no body wins
and our respected tax goddess, well she's just on another level
she even closed sgbs this year, did u know that, just because
gold price surged and she thought, no, we can't let people of india make money