Global cryptocurrency taxation rules significantly vary among countries, and some jurisdictions have come up with extremely tough crypto tax policies for their residents.
In a new study by crypto analytics firm Coincub, Belgium is referred to as the worst country in the world in terms of crypto taxation for residents. That is according to in-house rankings covering taxation aspects like taxes on crypto income or crypto capital gains.
Belgium is known for its massive 33% tax on capital gains on crypto transactions, and it also withholds up to 50% in taxes from professional income on crypto trades. As previously reported, Belgium adopted strict crypto taxation rules back in 2017.
Released on Thursday, Coincub’s tax rankings also bring up countries like Iceland, Israel, the Philippines and Japan as the locations less favorable to crypto investors.
In Iceland, any crypto gains up to $7,000 are subject to under 40% tax, while bigger gains will incur 46%, the report notes. Under Israel’s...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...