These 10 countries don't tax your Bitcoin gains
Taxation remains something I fail to understand because the taxed funds mostly ends up being used for the wrong reasons and embezzlement. And there comes crypto gains which the vultures also want a cut from after you have HODLed, gone through the bear and bull market etc.
Interestingly there are nations out there that don't tax you for you Bitcoin gains, at least for now I suppose until they get ideas.
Belarus
Under the law, mining and investing in cryptocurrencies are deemed personal investments, and so exempt from income tax and capital gains.
I love the term personal investment over there in Belarus!
Germany
Germany offers a unique take on taxing digital currencies such as Bitcoin. Unlike most other states, Europe’s biggest economy regards Bitcoin as private money, as opposed to a currency, commodity, or stock.
I would expect Germany going all crazy on crypto taxation.
Hong Kong, Malaysia, Malta
Portugal
Portugal has one of the most crypto-friendly tax regimes in the world.
Proceeds from the sale of cryptocurrencies by individuals have been tax-exempt since 2018, and cryptocurrency trading is not considered investment income (which is normally subject to a 28% tax rate.)
It is not an investment therefore you don't have to pay tax in Portugal, I should move to Lisbon!
Making the list of 10 countries are also Singapore, Slovenia, Bermuda and Switzerland.
It’s no surprise that Switzerland, home to the innovation hub known as “Crypto Valley”, has one of the most forward-thinking tax policies too.
I am actually not surprised with Malta and Switzerland, both nations have been known to be crypto-friendly.
Interesting to know these nations don't tax your Bitcoin gains.
Further read: 10 Countries That Don't Tax Bitcoin Gains (2021)
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@joetunex, In my opinion Taxation is "Organised Corruption". Stay blessed.
Hahaha that's a nice simple definition!
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Yes.
Nigeria is also on that list. Nigeria doesn't track anything. Hell, they don't even have information about citizens living in the country, talk less of Bitcoin that's in a fancy digital wallet, tucked away in far far away land
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Hahhaha talk about 9ja, that country just amazes me but I think if the infrastructure is there to track people holding crypto they will track you to you last crypto penny. And it is not as if the country is not capable of having the finest infrastructure, they rather embezzle the money for self enrichment.
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Yup. Greed won't let them do the right thing.
You can also get a golden Visa for 250k USD in Portugal m so you could just your crypto gains and invest in the country and boom your a citizen
Italy has also lowered its golden Visa program to compete with Portugal, Latvia and Greece Lol going to be interesting to see how countries compete for wealthy individuals In the future
If BTC keeps rocking like this I’ll have way too much money to want to cash it out into Rands and pay Cyril lol fuck it I’m out of here
I have always thought about was of spending my crypto gains, citizenship by investment is one of them.
I think the smarter countries are being open and adopting the tax free approach on crypto gains which in turn will attract crypto whales.
The rate at which properties are being sold here in Joburg, I will rather look at buying overseas than in SA.
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