High Crypto Taxes Countries

While many countries welcome cryptocurrency, others have high taxes that can complicate investing. Recently, China and the USA started Crypto Wars, and because of that, we have seen a huge rise in cryptocurrency, but many countries still don’t want to participate in the Big Boys’ game and impose huge taxes in their countries.

Here is a list of countries with high crypto taxes:

India:

A flat 30% tax applies to profits made from selling digital assets like cryptocurrencies and NFTs, regardless of how long you held them. There’s also a 1% Tax Deducted at Source (TDS) on certain transactions. Remember, you can’t offset crypto losses against other income. This move killed indian crypto players’ interest because it’s not a good risk-to-reward for them.

France:

Crypto gains are taxed at a flat rate of 30%. The rules might differ if you’re a casual trader versus a professional.

Canada:

Cryptocurrencies are considered digital assets, with 50% of capital gains being taxable.

South Korea:

A proposed 20% capital gains tax is on the table, but its rollout has been delayed.

Spain:

Cryptocurrency profits are taxed as capital gains, with rates going up to 28%. Earnings from activities like staking are also subject to tax.

Denmark:

Profits from crypto are taxed between 37% and 52%, depending on your income level.

Keeping up with these tax rules is important if you’re thinking about investing in crypto.