Coincub has compiled a list of countries with the best/worst tax policies for crypto investors

Analysts from the cryptocurrency analytics company Coincub compiled a list of ten countries, describing the pros and cons for cryptocurrency investors.

Analysts evaluated countries according to such criteria as: clarity of tax policy, the presence of the tax itself and its size, the amount of capital gains tax, as well as tax incentives. In each of these categories, experts gave each country up to 5 points, and then calculated the total score.

According to the ranking, the worst place for investors and crypto companies is currently Belgium. This European country has a 33% capital gains tax on transactions with digital currencies. It also withholds 50% tax on professional income from trading cryptocurrencies.

First place in the list of the best Germany – there is no tax in the country on profits from trading cryptocurrencies that have been stored on your wallets for more than a year. According to experts, these are ideal conditions for a country whose citizens tend to save rather than spend and invest in assets.

In second place among the worst is Iceland. Any income from cryptocurrencies up to $7,000 is taxed in the country in the amount of up to 40%. If you receive income above the designated amount, then the tax increases to 46%.

Second place among the best went to Italy. Analysts say that the southern European country has developed an impressive list of definitions for different forms of crypto assets and has a competent tax policy to attract wealthy individuals. As a result, the country’s cryptocurrency tax system is constantly evolving. Profits made using cryptocurrencies in Italy are subject to ordinary income tax – there is no tax on profits from crypto assets that do not exceed 51,000.

Israel and Switzerland ranked third in the list of worst and best, respectively:

In the case of Israel, it does not provide any special conditions for crypto investors, they are subject to the same rules that apply to ordinary investors. The sale of cryptocurrencies in this country is taxed at 33%. If the crypto-investor works on a commercial basis, the tax increases to 50%.

In Switzerland, general capital gains for crypto investors are not taxed, and the country also has a generous, analysts say, income supplement, sometimes up to $ 18,000. However, it may or may not work, depending on which canton you live in.

Singapore and Slovenia ranked fourth and fifth among the best. Philippines and Japan – fourth and fifth among the worst.

Earlier, Japanese official Taira Masaaki said that against the backdrop of increased competition among participants in the cryptocurrency market, the country’s authorities are considering the possibility of exempting issuers of tokens from tax.