- January 29, 2019
- Posted by: admin
- Category: Bitcoin
I have seen many millennials anxiously talking about tax-free crypto countries and taxation laws of their countries. These millennials, just like you and me, are also Bitcoin/crypto investors and holders
In my opinion, Bitcoin/cryptos should not be taxed because we already buy cryptos with our hard-earned money which is already taxed in our respective countries. So I think after the original Capital Gains Tax, there should be no taxation, otherwise, it will be like taxing the same money twice.
Tax-free crypto countries
The first obvious question that might come to mind is, Are there any countries in the world where Bitcoin/other cryptos are not taxed? And the answer to this is YES! There are!
But some countries are really confused on whether to consider Bitcoin/cryptos as a commodity, currency, or an asset. So until that confusion gets resolved, I’m going to talk about some tax haven countries for Bitcoin/cryptos that can benefit you.
Note: There are all sorts of Bitcoin taxes in different countries (like GST, VAT, Service Tax, CGT (Capital Gains Tax), etc.)… But in this article, we will talk only about CGT (Capital Gains Tax) because that’s the only one that matters to end users or investors like us.
Tax Free Crypto countries are,