Cryptocurrency has gained global transaction now and is being widely used across different countries and jurisdictions. Some countries have imposed taxes on crypto trading while some have no taxes on digital currencies, and there are also some countries where trading in crypto is banned. Data from HelloSafe shows countries with the highest crypto taxes imposed. At the top of the list is Japan which has imposed up to 55% tax rate on cryptocurrency gains. Denmark has up to 52% taxes on crypto profits while Germany is considered crypto-friendly, however, if assets are sold within a year, a tax rate of 45% could be imposed.
There are also several countries which have no taxes imposed on cryptocurrency gains. Some of these countries are Malaysia, Brunei, Oman, Saudi Arabia, United Arab Emirates, and Switzerland. These countries do not recognize cryptocurrency as taxable income so they have no policies designed for its businesses and investors.
The countries with a complete ban on cryptocurrency trading are China, Afghanistan, Nepal, Bangladesh, Egypt, and Tunisia. Algeria and Morocco also have cryptocurrency transactions prohibited in the country. There are a lot of reasons why these countries have banned the trading of cryptocurrency and some of these include religious considerations, financial stability, and regulatory concerns.
Here is a comprehensive overview of cryptocurrency taxation across the globe.
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There are also several countries which have no taxes imposed on cryptocurrency gains. Some of these countries are Malaysia, Brunei, Oman, Saudi Arabia, United Arab Emirates, and Switzerland. These countries do not recognize cryptocurrency as taxable income so they have no policies designed for its businesses and investors.
The countries with a complete ban on cryptocurrency trading are China, Afghanistan, Nepal, Bangladesh, Egypt, and Tunisia. Algeria and Morocco also have cryptocurrency transactions prohibited in the country. There are a lot of reasons why these countries have banned the trading of cryptocurrency and some of these include religious considerations, financial stability, and regulatory concerns.
Here is a comprehensive overview of cryptocurrency taxation across the globe.
| Country | Max Taxation (%) | Type |
|---|---|---|
| Brunei | 0 | No taxation |
| Cyprus | 0 | No taxation |
| El Salvador | 0 | No taxation |
| Georgia | 0 | No taxation |
| Germany | 0 | No taxation |
| Hong Kong | 0 | No taxation |
| Malaysia | 0 | No taxation |
| Oman | 0 | No taxation |
| Panama | 0 | No taxation |
| Saudi Arabia | 0 | No taxation |
| Switzerland | 0 | No taxation |
| United Arab Emirates | 0 | No taxation |
| Indonesia | 0.1 | Very low taxation |
| Vietnam | 5 | Very low taxation |
| Liechtenstein | 8 | Very low taxation |
| Montenegro | 9 | Very low taxation |
| Bulgaria | 10 | Low taxation |
| Colombia | 10 | Low taxation |
| North Macedonia | 10 | Low taxation |
| Romania | 10 | Low taxation |
| Croatia | 12 | Low taxation |
| Argentina | 15 | Low taxation |
| Bolivia | 15 | Low taxation |
| Brazil | 15 | Low taxation |
| Costa Rica | 15 | Low taxation |
| Greece | 15 | Low taxation |
| Hungary | 15 | Low taxation |
| Russia | 15 | Low taxation |
| Serbia | 15 | Low taxation |
| South Africa | 18 | Low taxation |
| Ukraine | 18 | Low taxation |
| Poland | 19 | Low taxation |
| Estonia | 20 | Moderate taxation |
| Korea (South) | 20 | Moderate taxation |
| Latvia | 20 | Moderate taxation |
| Lithuania | 20 | Moderate taxation |
| Mexico | 20 | Moderate taxation |
| United Kingdom | 20 | Moderate taxation |
| United States | 20 | Moderate taxation |
| Norway | 22 | Moderate taxation |
| Czechia (Czech Republic) | 23 | Moderate taxation |
| Israel | 25 | Moderate taxation |
| Mongolia | 25 | Moderate taxation |
| Slovakia | 25 | Moderate taxation |
| Italy | 26 | Moderate taxation |
| Austria | 28 | Moderate taxation |
| Portugal | 28 | Moderate taxation |
| Spain | 28 | Moderate taxation |
| France | 30 | Moderate taxation |
| India | 30 | Moderate taxation |
| Peru | 30 | Moderate taxation |
| Sweden | 30 | Moderate taxation |
| Netherlands | 31 | Moderate taxation |
| Belgium | 33 | Moderate taxation |
| Ireland | 33 | Moderate taxation |
| Finland | 34 | Moderate taxation |
| Philippines | 35 | Moderate taxation |
| Thailand | 35 | Moderate taxation |
| New Zealand | 39 | High taxation |
| Chile | 40 | High taxation |
| Taiwan | 40 | High taxation |
| Turkey | 40 | High taxation |
| Australia | 45 | Very high taxation |
| Iceland | 46 | Very high taxation |
| Canada | 50 | Very high taxation |
| Slovenia | 50 | Very high taxation |
| Denmark | 52 | Very high taxation |
| Japan | 55 | Very high taxation |
| Albania | - | Data unavailable |
| Andorra | - | Data unavailable |
| Angola | - | Data unavailable |
| Antigua and Barbuda | - | Data unavailable |
| Armenia | - | Data unavailable |
| Azerbaijan | - | Data unavailable |
| Bahamas | - | Data unavailable |
| Bahrain | - | Data unavailable |
| Barbados | - | Data unavailable |
| Belarus | - | Data unavailable |
| Belize | - | Data unavailable |
| Benin | - | Data unavailable |
| Bhutan | - | Data unavailable |
| Bosnia and Herzegovina | - | Data unavailable |
| Botswana | - | Data unavailable |
| Burkina Faso | - | Data unavailable |
| Burundi | - | Data unavailable |
| Cabo Verde | - | Data unavailable |
| Cambodia | - | Data unavailable |
| Cameroon | - | Data unavailable |
| Central African Republic | - | Data unavailable |
| Chad | - | Data unavailable |
| Comoros | - | Data unavailable |
| Congo (Congo-Brazzaville) | - | Data unavailable |
| Cuba | - | Data unavailable |
| Djibouti | - | Data unavailable |
| Dominica | - | Data unavailable |
| Dominican Republic | - | Data unavailable |
| Ecuador | - | Data unavailable |
| Equatorial Guinea | - | Data unavailable |
| Eritrea | - | Data unavailable |
| Eswatini (fmr. Swaziland) | - | Data unavailable |
| Ethiopia | - | Data unavailable |
| Fiji | - | Data unavailable |
| Gabon | - | Data unavailable |
| Gambia | - | Data unavailable |
| Ghana | - | Data unavailable |
| Grenada | - | Data unavailable |
| Guatemala | - | Data unavailable |
| Guinea | - | Data unavailable |
| Guinea-Bissau | - | Data unavailable |
| Guyana | - | Data unavailable |
| Haiti | - | Data unavailable |
| Holy See | - | Data unavailable |
| Honduras | - | Data unavailable |
| Iran | - | Data unavailable |
| Iraq | - | Data unavailable |
| Jamaica | - | Data unavailable |
| Jordan | - | Data unavailable |
| Kazakhstan | - | Data unavailable |
| Kenya | - | Data unavailable |
| Kiribati | - | Data unavailable |
| Korea (North) | - | Data unavailable |
| Kosovo | - | Data unavailable |
| Kuwait | - | Data unavailable |
| Kyrgyzstan | - | Data unavailable |
| Laos | - | Data unavailable |
| Lebanon | - | Data unavailable |
| Lesotho | - | Data unavailable |
| Liberia | - | Data unavailable |
| Libya | - | Data unavailable |
| Luxembourg | - | Data unavailable |
| Madagascar | - | Data unavailable |
| Malawi | - | Data unavailable |
| Maldives | - | Data unavailable |
| Mali | - | Data unavailable |
| Malta | - | Data unavailable |
| Marshall Islands | - | Data unavailable |
| Mauritania | - | Data unavailable |
| Mauritius | - | Data unavailable |
| Micronesia | - | Data unavailable |
| Moldova | - | Data unavailable |
| Monaco | - | Data unavailable |
| Mozambique | - | Data unavailable |
| Myanmar (Burma) | - | Data unavailable |
| Namibia | - | Data unavailable |
| Nauru | - | Data unavailable |
| Nicaragua | - | Data unavailable |
| Niger | - | Data unavailable |
| Nigeria | - | Data unavailable |
| Pakistan | - | Data unavailable |
| Palau | - | Data unavailable |
| Palestine State | - | Data unavailable |
| Papua New Guinea | - | Data unavailable |
| Paraguay | - | Data unavailable |
| Qatar | - | Data unavailable |
| Rwanda | - | Data unavailable |
| Saint Kitts and Nevis | - | Data unavailable |
| Saint Lucia | - | Data unavailable |
| Saint Vincent and the Grenadines | - | Data unavailable |
| Samoa | - | Data unavailable |
| San Marino | - | Data unavailable |
| Sao Tome and Principe | - | Data unavailable |
| Senegal | - | Data unavailable |
| Seychelles | - | Data unavailable |
| Sierra Leone | - | Data unavailable |
| Singapore | - | Data unavailable |
| Solomon Islands | - | Data unavailable |
| Somalia | - | Data unavailable |
| South Sudan | - | Data unavailable |
| Sri Lanka | - | Data unavailable |
| Sudan | - | Data unavailable |
| Suriname | - | Data unavailable |
| Syria | - | Data unavailable |
| Tajikistan | - | Data unavailable |
| Tanzania | - | Data unavailable |
| Timor-Leste | - | Data unavailable |
| Togo | - | Data unavailable |
| Tonga | - | Data unavailable |
| Trinidad and Tobago | - | Data unavailable |
| Turkmenistan | - | Data unavailable |
| Tuvalu | - | Data unavailable |
| Uganda | - | Data unavailable |
| Uruguay | - | Data unavailable |
| Uzbekistan | - | Data unavailable |
| Vanuatu | - | Data unavailable |
| Venezuela | - | Data unavailable |
| Yemen | - | Data unavailable |
| Zambia | - | Data unavailable |
| Zimbabwe | - | Data unavailable |
| Afghanistan | Banned | Cryptocurrencies banned |
| Algeria | Banned | Cryptocurrencies banned |
| Bangladesh | Banned | Cryptocurrencies banned |
| China | Banned | Cryptocurrencies banned |
| Egypt | Banned | Cryptocurrencies banned |
| Morocco | Banned | Cryptocurrencies banned |
| Nepal | Banned | Cryptocurrencies banned |
| Tunisia | Banned | Cryptocurrencies banned |
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