Crypto Taxes Explained - from US to S Korea
👉 The U.S. 🇺🇸
Crypto's tax status: Property
Taxes on gains: Calculated based on the coin’s value as of the date it was traded
👉 The U.K. 🇬🇧
Crypto's tax status: Investments (small-scale holding); working capital (if used regularly)
Taxes on gains: Free, if below £11,850, then up to 45 per cent
👉 Switzerland 🇨🇭
Crypto's status: Not defined
Taxes on gains: Wealth tax (determined at the end of the year, based on income)
👉 Russia 🇷🇺
Crypto's status: Not defined
Taxes on gains: 13 per cent (personal income tax)
👉 South Africa 🇿🇦
Crypto's status: Assets of intangible nature
Taxes on gains: 18 per cent (capital gains tax); 18-45 per cent (normal income tax)
👉 Canada 🇨🇦
Crypto's status: Intangible property
Taxes on gains: 50 per cent (capital gains tax); 25 per cent (self-employed)
👉 Brazil 🇧🇷
Crypto's status: Not defined
Taxes on gains: 15 per cent (income tax; imposed if more than BRL 35,000 is declared)
👉 Germany 🇩🇪
Crypto's status: Private money
Taxes on gains: 0 per cent (if held for more than a year), 25-28 per cent (capital gains tax)
👉 Japan 🇯🇵
Crypto's tax status: Legal method of payment
Taxes on gains: 15-55 per cent, based on the volume
👉 South Korea 🇰🇷
Crypto's status: Legal method of payment
Taxes on gains: None at the moment; a 24.2 per cent tax is charged for cryptocurrency exchanges.....
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