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Everything You Need to Know About Crypto Taxes Around the World.


 Crypto taxes worldwide: Everything You Need to Know About Crypto Taxes Around the World

In this article, we’ll take you through the most important things you need to know about crypto taxes around the world.

The cryptocurrency market has grown tremendously over the past several years, but it’s still new enough that regulators are struggling to keep up with everything that’s happening in the space. As a result, crypto taxes are far from simple, and they vary widely around the world — sometimes even between neighboring countries — due to the various approaches countries have taken in response to cryptocurrency and blockchain technology. In this article, we’ll take you through the most important things you need to know about crypto taxes around the world, so you can keep track of your cryptocurrency gains and losses easily and accurately.

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 How do cryptocurrency taxes work?

Crypto taxes worldwide

The tax rules for cryptocurrencies vary from country to country, and these rules are constantly changing.

In the United States, for example, the IRS has been slow to clarify its position on cryptocurrency earnings since it was first introduced in 2014. As a result of this ambiguity, people who have purchased or mined virtual currencies may not know how best to report them on their taxes—and they certainly don't want to risk getting it wrong!

The good news is that there are resources available online that can help you navigate any potential pitfalls: You can find out whether or not you should file Form 8949 with your local IRS office; what information must be included in any such form (e.g., spouse's name); or even see if there might be any special considerations when filing jointly with other members of your family (in which case perhaps those siblings would need their own forms).

Crypto taxes in Australia.

In Australia, the GST is 10%, which means it’s more like a sales tax than an income tax. It also applies to all goods and services, so if you buy something from any country at all (even if it isn't made in Australia) then the GST will apply.

The CGT is 45% on profits from selling your property or shares if they were held for more than 12 months before sale. However, there are some exceptions: for instance, capital gains can be reduced by up to 15%. The FBT applies to employers when employees receive taxable benefits such as cars and phones through their employment contracts – this includes contractors working remotely with their employer's business based overseas!

Crypto taxes in India.

In the United States, cryptocurrencies are taxed at their fair market value. This means that if you bought $1,000 worth of bitcoin at the time it was valued at $4,000 and held onto it for a year, you would have to pay taxes on whatever gains (if any) came from that investment.

In Australia, crypto taxes are just as confusing as they are elsewhere in the world. The government has yet to announce any changes or updates regarding virtual currencies and how they should be treated when it comes time for next year's tax season in 2020. However, what we do know is that there will be new rules coming down sometime soon regarding how much capital gains tax applies when selling cryptocurrencies like bitcoin or etheriums through an exchange platform like Coinbase etc., so stay tuned!

Crypto taxes United States.

The US crypto tax situation is complex. It’s based on the amount of time you spend in the US, how much crypto you own and sell, as well as other factors.

To begin with, any cryptocurrency transactions made within the United States during 2018 are subject to capital gains taxes. This includes selling your tokens or coins at any point after they've been bought (even if they're just sitting on your computer).

If you’re planning on holding onto most or all of your digital asset holdings for a long period of time—say six months or more—you may be better off setting up an IRA account instead!

Crypto taxes washington state.

Washington state is one of the few states that tax cryptocurrencies. The state has had a virtual currency tax since January 1st, 2018, when it was first introduced by House Bill 1161.

The legislation has been amended several times since then, most recently in May 2019 with House Bill 2282 (2019). It imposes a 3% sales tax on all transactions conducted using cryptocurrency or other digital currencies (collectively referred to as “virtual currencies”). The law also provides for an exemption for certain types of purchases made with virtual currencies in connection with property bought and sold by someone living within Washington state who buys or sells property outside their own home state through an online platform such as Craigslist or eBay; additionally there are some other exceptions including those related to charitable donations and those related to expenses incurred during travel outside the United States

Crypto taxes new york.

New York has a flat income tax rate of 4.5%. The state also levies taxes on income from capital gains, dividends, interest and estates and trusts.

Cryptocurrency taxes california.

California has a capital gains tax, sales tax, business tax, corporate income and franchise taxes. It also collects a personal income tax on wages and self-employment earnings for residents who work in California or are subject to its jurisdiction.

California is unique among states in that it has both corporate and personal income taxes. The state also levies an annual vehicle license fee of $19 per year on every vehicle registered with the DMV (Department of Motor Vehicles). There's also a tobacco excise tax of $1 per pack for cigarettes sold within California’s borders but not purchased at any store inside its borders or shipped into California from another state—a policy known as “parallel importation" laws across many European countries like France where such laws exist against cigarettes coming into their territories illegally through smuggling routes outside their borders despite widespread awareness among smokers about how much easier it would be just to buy them locally instead!

Crypto taxes in Brazil.

In Brazil, crypto is considered a property and taxed accordingly. The value of your crypto assets are calculated using the average market price per day. This means that if you own 1 BTC in March and sell it for $1250 on April 1st, then your taxable gains would be around 50%.

If you don’t pay taxes on your profits from cryptocurrency trading in Brazil, then they will be withheld by Brazilian courts until 2019 when they can be claimed back after filing an annual tax declaration form with the federal government (IRRF) or state governments (ICMS).

Crypto taxes in Canada.

In Canada, you can expect a very low tax rate for crypto. It’s not uncommon to see taxes below 1% of your profits.

However, like most countries in the world, there are some things that can get you into trouble with Canadian tax authorities:

  • Capital gains tax (CGT) applies to any profit made from selling or buying cryptocurrencies at an increased value over what it was originally purchased at. If you sell BTC for $1200 and then buy it back at $1k later on (and hold onto it), then CGT would apply because $500 has been gained by virtue of holding onto the coin after its price went up.* Transactions between fiat currencies such as USD and crypto-to-crypto exchanges are considered taxable events under Canadian law.* Crypto-to-fiat exchanges are also subject to CGT if they happen within 30 days of purchase.* When converting your crypto holdings into fiat currency via cash out or transfer/remittance services such as Coinbase Wallet and Circle Pay.

Crypto taxes in New Zealand.

New Zealand has a number of crypto taxes to worry about. If you're an employee in the country and use your work computer to access the internet, you'll have to pay taxes on any earnings that come from cryptocurrency trading.

If you own cryptocurrency as an investment and not just for personal use or spending, then you may also have to pay capital gains tax on any profits made when selling your digital assets.

Crypto taxes in European Union

Coinbase is one of the most popular cryptocurrency exchanges in the world and is headquartered in San Francisco, California. It was founded in 2012 by Brian Armstrong and Fred Ehrsam with an initial investment of $6 million USD. The exchange currently has over 25 million users and claims to have processed more than $20 billion USD worth of transactions since its inception.

The European Union (EU) has recently announced its plans to create a unified regulatory framework for cryptocurrencies such as Bitcoin & Ethereum--aiming to protect consumers while creating more certainty around their use by businesses & governments alike!


Each country has very different tax rules for crypto. In fact, as of this writing (Feb 2019), there is no single global standard for how to handle your cryptocurrency profits. That's because each country has its own idiosyncratic tax code that can be interpreted in a variety of ways—and those interpretations vary widely even within one nation!

In general, though: if you're selling bitcoin or another cryptocurrency on an exchange or over-the-counter (OTC) transaction and making money from it, then you'll owe income tax on whatever amount you make in profit each year; but if it's stored on an exchange wallet or other storage platform like Coinbase Pro where users don't control their private keys themselves but rather rely on third parties like exchanges or wallets like Exodus Wallet then there won't be any taxes owed until someone decides to trade those assets again later down the road (or perhaps never at all).