Here are the top five countries with the most progressive crypto tax outlook: Research firm Coincub
A new report from a leading research firm sheds light on the most tax-friendly countries in the world for crypto investors.
In a report by Coincub, the firm creates a ranking by giving positive points scores out of five points to all aspects of tax-free crypto income, such as crypto income gains or crypto capital gains.
Topping the list for the most progressive view of crypto-tax is Germany, according to Coincub.
says the company,
“Germany has a surprisingly progressive view on crypto tax. Overall, it has embraced the crypto tax situation and formalized it more than most leading countries. Having a very generous no tax on gains if your crypto is held for over a year seems to be perfect in keeping with a country whose population has a long tradition of saving as opposed to spending money.
This tax-efficient incentive rewards its own citizens and not just non-doms [non-domiciled individuals] and foreign investors who are the norm in so many tax havens. This, and the fact that Bitcoin can be held in traditional savings accounts in Germany, is what keeps it on our list of low tax crypto economies.”
After Germany in second place for the most crypto-tax friendly country is Italy, followed by Switzerland, Singapore and Slovenia.
Coincub also ranked the five worst countries for crypto tax. At the top of the list for the least crypto tax friendly country was Belgium.
“Capital gains on speculative transactions of crypto-assets are subject to tax, when gains are realized they are going to be taxed at 33%. Transactions with crypto-profits that are considered professional income come under progressive tax rates of up to 50%.”
Belgium is followed by Iceland, Israel, the Philippines and Japan, according to Coincub.
You can find the full Coinclub report here.
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