Cryptocurrency Taxes by Country

While the Indian crypto tax of 30% is quite hefty, some countries have considerably higher rates. Long-term capital gains, for example, are taxed at a rate of 50 percent in Australia. The highest percentage in Canada is 33 percent, whereas the highest rate in the Netherlands is 33 percent.

Short-term capital gains in the United States are taxed at rates ranging from 10% to 37 percent, while long-term profits are taxed at rates ranging from zero to 20%.

Even said, there are certain countries with substantially lower crypto taxes. For example, in the United Kingdom, the basic rate of capital gains tax is 10%, but top incomes must pay twice as much.

Furthermore, several countries, such as the following, do not levy any taxes on cryptos:

• Germany (for amounts under 600 EUR)

• El Salvador (no capital gains tax for foreign investors)

• Portugal (zero tax and the cryptos are exempt from VAT)

• Singapore (similar deal as in Portugal)

On top of that, Bitcoin and other digital currencies are still unregulated in a number of nations. Because they fall into a gray area, those governments do not levy any taxes on cryptocurrency transactions.