M6 Labs Research,a community of researchers, crypto, published this week a new list up-to-date on the havens for investors on cryptocurrencies.
In the first place shows how Portugal, which was considered to be thetax haven crypto for excellence in Europeby having zero taxes cryptocurrencies, I went out of the list after the announcement of totax on short-term 28% on gainsfrom investment in digital currencies.In addition, the Portuguese government plans to charge a tax rate of 4% on the transfer of cryptocurrencies between individuals
Then,M6 Labssays that, as now that Portugal is not a tax haven, here are some alternatives for those who are looking for a country with little or no tax on crypto:
1.-Switzerland
Private investors will not have to pay the tax on the capital gains on your earnings on cryptocurrencies, but businesses and sole traders have to pay the Tax on the Capital Gains.
There are some conditions that must be met:
- You must keep the crypto assets for at least 6 months
- The volume of business should be less than 5 times their share”
- The net capital gain must be less than 50% of their total revenue
2.-singapore
The report says ofM6Labsthat capital gains are not subject to tax in Singapore; therefore, the capital gains obtained from the purchase of cryptocurrencies for reasons of long-term investment are not subject to tax.
However, you will pay tax if you trade regularly with cryptocurrencies.
3.-united arab emirates
Dubai has a personal income tax of 0%, the group saysM6Labs.
Specifically, there is no personal income tax if it is tax resident in Dubai, regardless of how much you earn.There is also no tax on capital gains, whether that operate actively, or you simply have crypto assets.
4.-Slovenian
Slovenia has a proposal for a tax on exchanges of cryptocurrencies.You have a flat rate of just less than 5% for cryptocurrency transactions, and also when they are sold or exchanged.
5.-Bahamas
Citizens and foreign residents pay no personal income tax or capital gains, The Bahamas also allows people to pay other taxes using cryptocurrencies instead of the traditional methods of payment with fiat money.In addition, this group of islands has its own digital currency of central bank: thesand dollars.
6.-malt
The research group has that Malta has a complicated system of cryptocurrency taxes.You do not have taxes on the capital gains on the profits from cryptocurrencies which are maintained in the long term.However, the trade cryptocurrencies in Malta are subject to a tax on commercial rent of 35%.
7.-Puerto Rico
Residents of Puerto Rico who buy and sell cryptocurrencies are not subject to capital gains tax.However, you must follow the tax laws of its country of origin for any cryptocurrency that you buy outside of Puerto Rico.
8.-Malaysian
Malaysia does not consider the cryptocurrencies as a capital asset.
Then buy and sell cryptocurrencies is essentially free of taxes in the country.Eye!,but, it is only tax free if it is not a regular form of income.Then, thetraderswho buy and sell crypto on a daily basis and live on that yes will have to pay taxes here.
9.-The Savior
As has been said many times, El Salvador was the first nation toacceptBitcoinace legal tender, therefore, have promoted a series of measures to make this a great country for crypto investors and traders.The president, Nayib Bukele,I have promised to give citizenshipto foreigners who report that will perform this activity.
Foreigners are not required to pay tax on the income they earn their cryptocurrency profits.
10.-taiwan
Taiwan does not charge taxes on any capital gains, saysM6Labs.Cryptocurrency operations be treated as income and real estate transactions should be reported as personal income for tax purposes.
However, this list is not definitive or set in stone.RecognizesM6Labsthat this list should be renewed frequently given that, being a relatively new technology, countries often change their tax policy on it.
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