Coincub has identified the countries with the best legislation on cryptocurrency taxation.
According to Coincub’s research, Germany, Italy and Switzerland stand out in crypto tax legislation.
Coincub Addresses Crypto Tax Legislation
Crypto exchange aggregator Coincub conducted a study to determine which countries offer the best cryptocurrency tax policies to their citizens. Germany is the leader in this regard, followed by Italy and Switzerland.
Belgium took the lead among the countries with the worst policy in terms of crypto taxation. Iceland and Israel follow. Interestingly, India, which demands 30% tax on digital asset income, could not find itself in the top five of the list.
Germany Leads
Germany has recently become the focal point of the crypto industry. The country’s Ministry of Finance has stated that if individuals hold Bitcoin and Ethereum for more than a year, subsequent sales will not be taxed.
“Germany is in a surprisingly progressive position on the crypto tax. He sees it quite in line with the country’s tradition that cryptos are not taxed if they are held for more than a year, encouraging the population to save long instead of spending.”
Italy is second on the list. In Italy, if the profit does not exceed $51,000, there is no taxation.
In Switzerland, which ranks third, taxation varies in each region. However, many regions are tax-exempt.
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