Do you want to know about the nations that are adoption web3 and are helping to create a more sustainable ecosystem for web3 companies by providing relatively relaxed taxes on crypto? We have created a list of all such nations for you!
| Country | Comments |
|---|---|
Switzerland | Private investors will not have to pay Capital Gains Tax on their cryptocurrency gains.
But, businesses and self-employed traders would have to pay Capital Gains Tax. |
Singapore | Since capital gains are not taxed in Singapore, capital gains made from buying cryptocurrencies for long-term investment reasons are not subject to taxes
However, you will be taxed if you regularly trade cryptocurrencies |
UAE | Dubai has a 0% personal income tax
There is no personal income tax if you are a tax resident in Dubai, regardless of how much you make!
There is also no capital gains taxes, whether you trade actively or just hold Crypto assets |
Slovenia | Slovenia has a flat-rate tax proposal on Crypto redemptions.
It has a flat rate of just under 5% for cryptocurrency transactions and also when they are sold or exchanged |
Bahamas | Citizens and foreign citizens pay no taxes on personal income or capital gains
The Bahamas also allows individuals to pay other taxes using cryptocurrencies instead of traditional fiat payment methods |
Malta | The “Blockchain Island” doesn’t have capital gains tax on profits made from cryptocurrencies that are held for the long term
However, Crypto trading in Malta is liable to a business income tax of 35%! |
Puerto Rico | Residents of Puerto Rico who buy and sell cryptocurrencies are not subject to capital gains tax
However, you must follow your home country's tax laws for any cryptocurrency that is purchased outside Puerto Rico |
Malaysia | Malaysia doesn’t consider cryptocurrencies as a capital asset
So, buying and selling cryptocurrency is essentially tax-free in the country
But, it is only tax-free if it’s not a regular form of income.
So, Crypto day traders will have to pay taxes! |
El Salvador | El Salvador was the first nation to accept $BTC
as a legal tender
Foreigners are not required to pay taxes on any income they earn from their Crypto profits |
Taiwan | Taiwan does not levy taxes on capital gains
Crypto trades, on the other hand, are treated as income from property transactions and must be reported as individual income for tax purposes |