Crypto Taxation Around the World: High Taxes in Japan, Zero Taxes in Middle East Nations

Cryptocurrency has gained global transaction now and is being widely used across different countries and jurisdictions. Some countries have imposed taxes on crypto trading while some have no taxes on digital currencies, and there are also some countries where trading in crypto is banned. Data from HelloSafe shows countries with the highest crypto taxes imposed. At the top of the list is Japan which has imposed up to 55% tax rate on cryptocurrency gains. Denmark has up to 52% taxes on crypto profits while Germany is considered crypto-friendly, however, if assets are sold within a year, a tax rate of 45% could be imposed.

There are also several countries which have no taxes imposed on cryptocurrency gains. Some of these countries are Malaysia, Brunei, Oman, Saudi Arabia, United Arab Emirates, and Switzerland. These countries do not recognize cryptocurrency as taxable income so they have no policies designed for its businesses and investors.

• Also read: New Report Found that Only 4% of the Global Populations Hold a Bitcoin

The countries with a complete ban on cryptocurrency trading are China, Afghanistan, Nepal, Bangladesh, Egypt, and Tunisia. Algeria and Morocco also have cryptocurrency transactions prohibited in the country. There are a lot of reasons why these countries have banned the trading of cryptocurrency and some of these include religious considerations, financial stability, and regulatory concerns.

Here is a comprehensive overview of cryptocurrency taxation across the globe.

Country	Max Taxation (%)	Type
Brunei	0	No taxation
Cyprus	0	No taxation
El Salvador	0	No taxation
Georgia	0	No taxation
Germany	0	No taxation
Hong Kong	0	No taxation
Malaysia	0	No taxation
Oman	0	No taxation
Panama	0	No taxation
Saudi Arabia	0	No taxation
Switzerland	0	No taxation
United Arab Emirates	0	No taxation
Indonesia	0.1	Very low taxation
Vietnam	5	Very low taxation
Liechtenstein	8	Very low taxation
Montenegro	9	Very low taxation
Bulgaria	10	Low taxation
Colombia	10	Low taxation
North Macedonia	10	Low taxation
Romania	10	Low taxation
Croatia	12	Low taxation
Argentina	15	Low taxation
Bolivia	15	Low taxation
Brazil	15	Low taxation
Costa Rica	15	Low taxation
Greece	15	Low taxation
Hungary	15	Low taxation
Russia	15	Low taxation
Serbia	15	Low taxation
South Africa	18	Low taxation
Ukraine	18	Low taxation
Poland	19	Low taxation
Estonia	20	Moderate taxation
Korea (South)	20	Moderate taxation
Latvia	20	Moderate taxation
Lithuania	20	Moderate taxation
Mexico	20	Moderate taxation
United Kingdom	20	Moderate taxation
United States	20	Moderate taxation
Norway	22	Moderate taxation
Czechia (Czech Republic)	23	Moderate taxation
Israel	25	Moderate taxation
Mongolia	25	Moderate taxation
Slovakia	25	Moderate taxation
Italy	26	Moderate taxation
Austria	28	Moderate taxation
Portugal	28	Moderate taxation
Spain	28	Moderate taxation
France	30	Moderate taxation
India	30	Moderate taxation
Peru	30	Moderate taxation
Sweden	30	Moderate taxation
Netherlands	31	Moderate taxation
Belgium	33	Moderate taxation
Ireland	33	Moderate taxation
Finland	34	Moderate taxation
Philippines	35	Moderate taxation
Thailand	35	Moderate taxation
New Zealand	39	High taxation
Chile	40	High taxation
Taiwan	40	High taxation
Turkey	40	High taxation
Australia	45	Very high taxation
Iceland	46	Very high taxation
Canada	50	Very high taxation
Slovenia	50	Very high taxation
Denmark	52	Very high taxation
Japan	55	Very high taxation
Albania	-	Data unavailable
Andorra	-	Data unavailable
Angola	-	Data unavailable
Antigua and Barbuda	-	Data unavailable
Armenia	-	Data unavailable
Azerbaijan	-	Data unavailable
Bahamas	-	Data unavailable
Bahrain	-	Data unavailable
Barbados	-	Data unavailable
Belarus	-	Data unavailable
Belize	-	Data unavailable
Benin	-	Data unavailable
Bhutan	-	Data unavailable
Bosnia and Herzegovina	-	Data unavailable
Botswana	-	Data unavailable
Burkina Faso	-	Data unavailable
Burundi	-	Data unavailable
Cabo Verde	-	Data unavailable
Cambodia	-	Data unavailable
Cameroon	-	Data unavailable
Central African Republic	-	Data unavailable
Chad	-	Data unavailable
Comoros	-	Data unavailable
Congo (Congo-Brazzaville)	-	Data unavailable
Cuba	-	Data unavailable
Djibouti	-	Data unavailable
Dominica	-	Data unavailable
Dominican Republic	-	Data unavailable
Ecuador	-	Data unavailable
Equatorial Guinea	-	Data unavailable
Eritrea	-	Data unavailable
Eswatini (fmr. Swaziland)	-	Data unavailable
Ethiopia	-	Data unavailable
Fiji	-	Data unavailable
Gabon	-	Data unavailable
Gambia	-	Data unavailable
Ghana	-	Data unavailable
Grenada	-	Data unavailable
Guatemala	-	Data unavailable
Guinea	-	Data unavailable
Guinea-Bissau	-	Data unavailable
Guyana	-	Data unavailable
Haiti	-	Data unavailable
Holy See	-	Data unavailable
Honduras	-	Data unavailable
Iran	-	Data unavailable
Iraq	-	Data unavailable
Jamaica	-	Data unavailable
Jordan	-	Data unavailable
Kazakhstan	-	Data unavailable
Kenya	-	Data unavailable
Kiribati	-	Data unavailable
Korea (North)	-	Data unavailable
Kosovo	-	Data unavailable
Kuwait	-	Data unavailable
Kyrgyzstan	-	Data unavailable
Laos	-	Data unavailable
Lebanon	-	Data unavailable
Lesotho	-	Data unavailable
Liberia	-	Data unavailable
Libya	-	Data unavailable
Luxembourg	-	Data unavailable
Madagascar	-	Data unavailable
Malawi	-	Data unavailable
Maldives	-	Data unavailable
Mali	-	Data unavailable
Malta	-	Data unavailable
Marshall Islands	-	Data unavailable
Mauritania	-	Data unavailable
Mauritius	-	Data unavailable
Micronesia	-	Data unavailable
Moldova	-	Data unavailable
Monaco	-	Data unavailable
Mozambique	-	Data unavailable
Myanmar (Burma)	-	Data unavailable
Namibia	-	Data unavailable
Nauru	-	Data unavailable
Nicaragua	-	Data unavailable
Niger	-	Data unavailable
Nigeria	-	Data unavailable
Pakistan	-	Data unavailable
Palau	-	Data unavailable
Palestine State	-	Data unavailable
Papua New Guinea	-	Data unavailable
Paraguay	-	Data unavailable
Qatar	-	Data unavailable
Rwanda	-	Data unavailable
Saint Kitts and Nevis	-	Data unavailable
Saint Lucia	-	Data unavailable
Saint Vincent and the Grenadines	-	Data unavailable
Samoa	-	Data unavailable
San Marino	-	Data unavailable
Sao Tome and Principe	-	Data unavailable
Senegal	-	Data unavailable
Seychelles	-	Data unavailable
Sierra Leone	-	Data unavailable
Singapore	-	Data unavailable
Solomon Islands	-	Data unavailable
Somalia	-	Data unavailable
South Sudan	-	Data unavailable
Sri Lanka	-	Data unavailable
Sudan	-	Data unavailable
Suriname	-	Data unavailable
Syria	-	Data unavailable
Tajikistan	-	Data unavailable
Tanzania	-	Data unavailable
Timor-Leste	-	Data unavailable
Togo	-	Data unavailable
Tonga	-	Data unavailable
Trinidad and Tobago	-	Data unavailable
Turkmenistan	-	Data unavailable
Tuvalu	-	Data unavailable
Uganda	-	Data unavailable
Uruguay	-	Data unavailable
Uzbekistan	-	Data unavailable
Vanuatu	-	Data unavailable
Venezuela	-	Data unavailable
Yemen	-	Data unavailable
Zambia	-	Data unavailable
Zimbabwe	-	Data unavailable
Afghanistan	Banned	Cryptocurrencies banned
Algeria	Banned	Cryptocurrencies banned
Bangladesh	Banned	Cryptocurrencies banned
China	Banned	Cryptocurrencies banned
Egypt	Banned	Cryptocurrencies banned
Morocco	Banned	Cryptocurrencies banned
Nepal	Banned	Cryptocurrencies banned
Tunisia	Banned	Cryptocurrencies banned

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by Arooj Ahmed via Digital Information World