MUST READ: CHECK OUT 5 COUNTRIES WHERE YOU PAY TAX ON CRYPTO EARNS
As a crypto trader, what gives you an edge over other traders is information, and in this post I will be sharing one.
It's important to know nations where bitcoin and other crypto are free and where there's tax attached.
Here are some countries where you pay tax on crypto:
1. Canada: Here, cryptocurrencies are regarded as property, and profits from them are taxed as capital gains. The rate is dependent on taxable income and the length of holding.
2. Australia: Here, crypto are treated as financial assets, so profits are taxed as capital gains.
3. United Kingdom: The capital gain tax rate here is usually 10%. Crypto is regarded as property.
4. India: They have a proposed 30% tax rate on profits made from cryptocurrency.
5. United States