Cryptocurrency Tax Rates and Rules by Country

Taxation of cryptocurrencies varies greatly from country to country. Here are the cryptocurrency taxation rules and rates in some countries;

USA

Tax Type: Capital gains tax.

Rate: 10%-37% for less than 1 year; 0%, 15% or 20% for 1 year or more

Profits from selling cryptocurrencies, purchasing goods or services, and mining are taxed.

England

Tax Type: Capital gains tax

Rate: Base rate 10%, high rate 20%

Gains from cryptocurrency trading are taxed as capital gains. Additionally, a certain annual exemption applies.

Germany

Tax Type: income tax for short-term gain, capital gains tax for long-term gain.

Rate: 0%-45% for short-term gains; Cryptocurrencies held for more than 1 year are tax-free.

Cryptocurrencies are tax-free when held for more than 1 year. Short-term gains are subject to income tax.

Japan

Tax Type: Income tax

Ratio: 5%-45%

Income tax is collected from cryptocurrency trading, mining, and the use of cryptocurrencies in exchange for goods or services.

Canada

Tax Type: Capital gains tax

Rate: 50% of capital gains are taxed as income, which varies between 15%-33% depending on the tax rate

Gains from the sale of cryptocurrencies are considered capital gains and half are taxed as income.

Australia

Tax Type: Capital gains tax

Rate: 19%-45% based on general income tax rates

Gains from the sale of cryptocurrencies are taxed as capital gains. You can benefit from a 50% tax deduction for cryptocurrencies held for more than 1 year.

Portugal

Tax Type: Tax exempt

Portugal exempts cryptocurrency earnings from tax for individual investors.