Lawyers have listed cryptocurrency-friendly tax jurisdictions
Minimama law firm analyzed the tax systems of various countries and found out which of them are most loyal to holders of cryptocurrencies.
Experts have identified seven jurisdictions offering benefits to participants of the crypto market.
Among them are:
- Lithuania: the basic tax rate is 15% corporate tax, for small businesses — 0-5%. Capital gains tax does not apply to transactions with crypto assets.
- Germany: 15% income tax and 3.5% trade tax. However, taxation additionally depends on the rates of municipal taxes on trade.
- Portugal: benefits for small and medium-sized firms, as well as a zero rate for the first €50,000 of total taxable income.
- Switzerland: 8.5% federal tax and rates from 11% to 21% cantonal taxes.
- Dubai: corporate tax is 9%, when using a free zone — 0%. The zero rate is also applied for the first 375,000 dirhams ($100,000) of the total taxable income. In addition, the jurisdiction offers tax residency to company owners.
- Singapore: 17% corporate tax, as well as differentiated rates for different income levels and tax benefits for individual investors.
- Malta: zero income rates from €9,100 for singles and up to €12,700 for married individuals. Capital gains tax is not paid on long-term income from the sale of cryptocurrencies if it is considered a "means of preserving value."
Source: Forklog
