Only 0.5% of Global Crypto Users Paid Taxes in 2022: Report
According to Divly, a Swedish cryptocurrency tax firm claimed that more than 99% of cryptocurrency users globally are not crypto-taxable. Divly published a detailed report on crypto taxes, including names of countries that pay the most and least taxes.
The report is titled “Global Cryptocurrency Taxation Report 2022”, in which the firm analyzed the total taxes collected in 2022 by countries with massive cryptocurrency users.
The Divly report is based on taxes collected from several countries on crypto holdings in 2022. Finland tops the list, where 4.09% of total crypto users paid taxes on their holdings in 2022. The Philippines ranks last on the list, with 0.03 % of total crypto holders will pay their taxes in 2022.
List of countries that have paid crypto tax in 2022
The report states that Finnish cryptocurrency holders paid the most taxes in 2022, followed by Australia, Austria, Germany, the United Kingdom, Norway, Japan, Sweden, Canada, the United States, the Netherlands, Ireland, France, Spain, Denmark, New Zealand, Singapore, Switzerland, Italy, Brazil, India, Indonesia and the Philippines.
According to the report, 3.25% of crypto users in Oceania pay taxes, followed by North America, where 1.62% of total cryptocurrency owners pay taxes, Europe had only 1.52% of crypto users paying taxes in 2022, and the least amount of tax is paid. from Asia where only 0.20% of total cryptocurrency users paid taxes.
According to Triple’s data, there are more than 420 million cryptocurrency users globally. Asia has the highest crypto user base, over 260 million; North America has 54 million active crypto user base; Africa has 38 million crypto users; South America has 33 million crypto users, Europe has 31 million, and Oceania has the least number of crypto users at 1.5 million.
It is important to note that Oceania has the least number of crypto users but pays the highest taxes compared to other continents. More than 3% of the total crypto users in Oceania pay crypto taxes.
Today, trading and holding cryptocurrency is as easy as surfing the internet. In fact, there are 500+ companies globally that now accept cryptocurrency payments. Some big names on the list are Tesla, Microsoft, Visa, Mastercard, Burger King, Shopify and several others.
Disclaimer
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
