Bitcoin and International Taxes 🌐📊 (Reddit Bitcoin)

Andorra 😊 🛠

• Private or commercial gains from mining, trading, and investment are taxed at a maximum of 10%.

Argentina ☹️

• Taxation is similar to regular income and wealth, along with a 0.6% transaction tax.

Australia ☹️

• Australia has overall high taxes. Cryptocurrency gains are taxed as income, up to 45%.

Bahamas 🤩 🛠

• 0% taxes on mining, possession, and trade – whether private or commercial. Simply the “Crypto Tax Paradise.”

Belarus 🤩🛠❗️

• For individuals, 0% taxes for mining, trading, or investment. Excellent conditions for crypto-business.

Bermuda 🤩🛠

• 0% taxes – whether private or commercial. A “Crypto Tax Paradise” – though with a few strict regulations, including anti-money laundering.

Brazil ☹️

• For sales above approximately €6,000/month, capital gains are taxed at 15-22.5%. Additionally, there are reporting requirements for cryptocurrency holdings.

Bulgaria 😏

• Private gains from trading and investment are taxed at 10%, while any mining and commercial trading are taxed at 15%. There are better locations in Europe.

Cayman Islands 🤩

• Mining is not attractive due to high electricity costs. For income from trade and investment, there are 0% taxes – a “Tax Paradise.” Regulation of crypto services is strict.

Chile ☹️

• Not recommended for any crypto income; up to 40% income tax applies. Mining is an unregulated gray area. 19% VAT on crypto services.

China ☹️☹️☹️

• Mining and trading are legally “prohibited.” There are hardly any other countries offering such unfavorable conditions for crypto business as China.

Costa Rica 😊

• Purchase and possession are tax-free – no capital gains tax. Sales proceeds are taxed at 15%. Employees can receive income in cryptocurrencies.

Denmark ☹️

• Not attractive in the European comparison. Private tax burden in Denmark can reach up to 52%. Commercial trading is taxed at 22%.

Germany 😏

• If you hold assets for more than 12 months or the profit is below €600 per year, gains are tax-free. Beyond that, the “high” German income tax applies.

El Salvador

• We are currently updating the article. Come back in a few days.

Estonia ☹️

• All gains and income from cryptocurrencies are taxed. Private at 20%, and commercial at 25%. There are more cost-effective locations, even in Europe.

Finland ☹️

• Here, you pay the highest taxes on mining and trading in Europe. Not an attractive location. However, all costs incurred in mining can be deducted.

France ☹️

• At least 30%, usually 45% taxes on trading. Mining is always taxed at 45%.

French Polynesia

• We are currently updating the article. Come back in a few days.

Georgia 🤩🛠❗️

• 0% taxes for private investors – whether mining, possession, or trading. Commercial activities are taxed at 15%.

Gibraltar 😏

• Commercial trading/mining is taxed at 12.5%. Crypto-business is clearly defined and regulated. Individuals pay 5-28% income taxes. High electricity prices.

Hong Kong 😏

• Up to 17% income tax for mining or trading. Restrictions/regulations are currently being discussed and planned by the government.

India ☹️

• With 30% taxes, whether private or commercial mining or trading, and often an additional 1% withholding tax on transactions. One of the least favorable locations.

Indonesia 🤩🛠❗️

• Another paradise with 0% taxes on private trading or mining and 0.05% for commercial activities. Unfortunately, the government is planning changes.

Ireland 🤩 ❗️☹️

• Wow – 0% on foreign income. Oh no – up to 40% taxation if you trade privately domestically or 33% if you trade or mine commercially domestically.

Israel ☹️ ☹️ ❗️

• Definitely not – Israel is not a residence or corporate location for crypto-mining or trading. Extremely high, complex taxes of up to 43% await you here.

Italy 😏

• The allowance for private gains from cryptocurrencies is €51,000 (Crypto Allowance). Commercial gains are taxed at around 28%. There are cheaper countries in Europe.

Japan ☹️☹️

• Up to 55% tax on mining or trading. Not suitable as a residence or corporate location for crypto-business.

Jersey 😏

• 0% taxes on income from cryptocurrencies. For regulars, either 20% income tax or for commercial services, 10% corporate tax.

Cambodia ☹️❗️

• Cryptocurrencies may not be used, sold, or bought here and are illegal.

Canada ☹️

• Private crypto gains are taxed up to 33%. The corporate tax of 38% can be reduced; many companies pay less than 15-28%. Still, an unattractive location.

Croatia 😏

• If cryptocurrencies are sold after 2 years, no capital gains tax applies. Commercial trading is taxed at 10-18%. Private investors are taxed at a minimum of 10%.

Latvia ☹️

• Sale gains are taxed privately at up to 31% and commercially at 20%. Losses from crypto trading can be offset against gains.

Lithuania 😊

• 15% taxes for any private or commercial gains from cryptocurrencies. Not bad compared to others, but you can find cheaper countries.

Luxembourg ☹️

• High income taxes up to 42% or corporate taxes up to 27.5% spoil the crypto business in Luxembourg.

Malaysia 😏 ❗️

• Tax-free if buying and selling occurs occasionally. Regular activities are taxed privately at up to 30% or commercially at 24%.

Malta 😊❗️

• Tax-free if you, as a private investor, hold cryptocurrencies long-term. Day traders may face high taxes. However, there are interesting tax planning possibilities. Consultation is advised.

Mexico ☹️

• High income tax up to 35% for private and 30% corporate tax for commercial trading. Taxation of mining is unclear or not regulated.

Montenegro 🤩

• In Europe, with 9%, the lowest corporate tax. Private incomes are taxed at 9-11%. Entrepreneurs or expatriates are welcome and find a very favorable environment.

New Zealand ☹️

• Any capital gains are taxed. Taxes in New Zealand are comparatively too high, with 28% corporate tax and 30% income tax. You can easily find tax-favorable countries.

Netherlands ☹️

• Nothing speaks for moving to the Netherlands if you plan private or commercial trading with cryptocurrency or mining. Income taxes up to 49.5% and other unclear regulations speak against it.

Austria ☹️

• New: 27.5% taxes on capital gains with cryptocurrencies. For commercial services with and around cryptocurrencies, high income tax or corporate tax rates apply.

Panama 🤩 ❗️

• Mining, possession, and trade with cryptocurrencies are not covered by the current tax legislation (yet!). This means 0% taxes on assets not “physically” located in Panama.

Poland ☹️

• The good thing is that Poland has clear rules. Taxes, however, are too high, with 18-32% for private trading or 9-15% for commercial trading or mining.

Portugal 😊 ❗️

• Gains from cryptocurrencies for small investors are tax-free. Generally, “no” VAT on transactions. If gains from cryptocurrencies are the main income, 20%-25% commercial and 20% private tax apply.

Puerto Rico

• We are currently updating the article. Come back in a few days.

Romania

• We are currently updating the article. Come back in a few days.

Russia ❗️

• We recommend waiting. Legislation is currently in progress. Cryptocurrency gains could be taxed with the moderate income tax of 13%. Discussions are also ongoing about favorable electricity rates for miners.

Sweden

• 20.6% for commercial trading or mining and 30% capital income tax for individuals. There are much more attractive countries in Europe.

Switzerland 😊

• Start-ups find a growing ecosystem of fintech companies and moderately favorable taxes.

Singapore 🤩❗️

• Capital gains are tax-free. Singapore can be an interesting residence for crypto investors. Commercial providers should familiarize themselves with the complex regulations.

Slovakia ☹️

• 19-25% income taxes for any private crypto activities and 25% corporate tax for commercial trading apply here. There are much cheaper locations in Europe.

Slovenia 😏

• Tax-free – as long as you, as a private individual, do not generate main income from cryptocurrencies. Commercial trading/mining is taxed at 19%. A draft proposes a future 10% crypto tax.

Spain ☹️

• Not a cost-effective place for any crypto business, whether private with 19-26% income tax or commercial with 25% corporate tax.

South Africa ☹️

• High taxes plus uncertainty in the method of taxation. If long-term investment is not credible, instead of 18% capital gains tax, up to 45% income tax may be due.

South Korea 😊 ❗️

• Taxation of cryptocurrencies is still a gray area because they are neither considered as currency nor financial assets. Planned taxation of gains at 20% has been postponed to January 2023.

Thailand 🤩

• Overseas income from possession and trade with crypto is tax-free.

Czech Republic 😏

• Private gains are taxed at 15% income tax, and commercial trading is taxed at 19%. Additional conditions apply for mining and commercial trading.

Turkey 🤩🛠

• No taxes on assets and gains from cryptocurrencies or mining – but for how long?

Ukraine 😊❗️

• The government has legally regulated crypto-business. Both private and commercial activities are subject to 18% taxes. However, there are very generous tax concessions for fintech companies that invest. Inform yourself.

Hungary 😊

• Hungary offers relatively low taxes in Europe, low living costs, and excellent infrastructure. Private taxes are 15%, and companies pay 9-11%.

Uruguay 😊

• Overseas income, including crypto-trading abroad, is tax-free if avoiding domestic currencies/providers.

USA ☹️

• Fintech companies find partly favorable conditions. Crypto-trading is relatively highly taxed.

United Arab Emirates 😊

• No taxes on income, capital gains, and wealth – for individuals.

United Kingdom ☹️

• In the UK, private and commercial trading, as well as mining, are taxed. Private income tax ranges from 20% to 45%, and corporate tax is 19%.

Cyprus 😊 ❗️🛠

• Currently, profits from trading with cryptocurrencies are taxed. For commercial traders and service providers, 12.5% corporate tax applies. Some issues are still in a legal gray area.