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Crypto is getting more popular each day, with exchanges opening their doors to customers from around the world. I'm aware that there are a few places with zero capital gains tax on crypto (eg: El Salvador and Puerto Rico).
But I'm curious to know which countries have the highest taxes? And do you think there's a chance they will lower them in the future?
Your input would be greatly appreciated. Thank you very much.
But I'm curious to know which countries have the highest taxes? And do you think there's a chance they will lower them in the future?
Your input would be greatly appreciated. Thank you very much.
I never stopped to think about this, so I did some research and was very surprised for what I discovered.... Countries that I believed to be more "pro-bitcoin" charge very high taxes. Check it out, and correct me if I've made any mistake on my research:
Japan: They consider the tax on cryptocurrencies as an "miscellaneous income" and have a progressive rate that goes up to 55%;
Denmark: They consider a tax that can be compared to financial gains like stocks, with rates varying and reach up 56%;
Israel: The curious thing there is that they tax gains from bitcoin and other cryptocurrencies between individuals at up to 50%, but are studying proposals for exemptions for foreigners;
Australia: Cryptocurrency is treated as an asset, and gains are taxed as if they were personal income, reaching up to 45%, but this rate drops by half if you hold it for more than a year.
Here in Brazil, where I live... there is currently a tax exemption for transactions up to R$ 35,000 (Brazilian coin) by month... approximately $ 6k. But this will change next year when the government will start charging 15% tax on all transactions.
Original archived Re: Which countries have the highest crypto taxes?
Scraped on 02/08/2025, 02:56:33 UTC
Crypto is getting more popular each day, with exchanges opening their doors to customers from around the world. I'm aware that there are a few places with zero capital gains tax on crypto (eg: El Salvador and Puerto Rico).
But I'm curious to know which countries have the highest taxes? And do you think there's a chance they will lower them in the future?
Your input would be greatly appreciated. Thank you very much.
But I'm curious to know which countries have the highest taxes? And do you think there's a chance they will lower them in the future?
Your input would be greatly appreciated. Thank you very much.
I never stopped to think about this, so I did some research and was very surprised for what I discovered.... Countries that I believed to be more "pro-bitcoin" charge very high taxes. Check it out, and correct me if I've made any mistake on my research:
Japan: They consider the tax on cryptocurrencies as an "miscellaneous income" and have a progressive rate that goes up to 55%;
Denmark: They consider a tax that can be compared to financial gains like stocks, with rates varying and reach up 56%;
Israel: The curious thing there is that they tax gains from bitcoin and other cryptocurrencies between individuals at up to 50%, but are studying proposals for exemptions for foreigners;
Australia: Cryptocurrency is treated as an asset, and gains are taxed as if they were personal income, reaching up to 45%, but this rate drops by half if you hold it for more than a year.
Here in Brazil, where I live... there is currently a tax exemption for transactions up to R$ 35,000 (Brazilian coin)... approximately $ 6k. But this will change next year when the government will start charging 15% tax on all transactions.