Countries with No Bitcoin Taxes

[Rooster101]

There are still a lot of countries that are free from bitcoin or cryptocurrency taxes Singapore, Germany and Denmark. Denmark reportedly plans to pursue a cashless economy in the future and part of that plan is to fully use the cryptocurrencies.  Some countries reportedly have taken a tax-free stance on bitcoin and others are still unofficially tax-free like Switzerland, Hongkong and New Zealand.

[buwaytress]

Just thought I'd add this as I only found out recently, that for the Netherlands, Bitcoin is not considered a currency, just a medium of exchange. It (along with other cryptocurrency) itself is not taxed, much as you wouldn't tax anyone just for owning something that can be bartered. You can't even be charged VAT on them if you sell or trade them. Here's the official statement clarifying: http://curia.europa.eu/juris/document/document.jsf?text=&docid=170305&pageIndex=0&doclang=en&mode=req&dir=&occ=first&part=1&cid=604646

But if you earn Bitcoin, whether for providing a service or product, then you owe tax as calculated on income. So this would definitely include mining, trading for specific purpose of gains and this also means that getting a salary in Bitcoin doesn't exempt you from income tax.

I cannot find all these details online (not the second bit), but this comes from a former judiciary official turned tax consultant.

[xankor]

Now favorably buy Bitcoin?

[marielbeckham]

There is the more informative thread on the same topic here. And the list of countries is wider indeed now.

[kimochidesh]

In my opinion, the profit or money growth you get within a period of 1 year, it should be considered as short-term capital gain and if you hold it for more than 1 year, it should be considered as long-term capital gain.

[KrishaBitcoin]

There is the more informative thread on the same topic here. And the list of countries is wider indeed now.

There are few countries that 0% tax on their Bitcoin profit that if you just monitor and read the news you will know them. The latest progress is the Germany in which they just declared it last week then the others are Singapore, Denmark, Slovenia, Caveman Islands and Belarus. Some countries that did legalize Bitcoin but did not ban will also be considered earning Bitcoin profit without tax and my country is one of these.

[hacekd]

what about mining? also, would it be possible to mine in country A which taxes mining profits and later relocate to country B which doesn't, to cash out tax-free? looks to me like country A wouldn't like that, but how could they tell?

The legal status of bitcoin varies greatly from country to country and is still undefined or changed in many countries. Although the majority of countries do not use bitcoin as illegal, their status as money varies, with different regulatory implications. While some countries explicitly allow their use and trade, others have banned or restricted it.

[marcbitcoins]

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

It is very fortunate for these countries that their Bitcoin earnings will be free of tax meaning their earnings still will be intact to spend specially for their daily needs. Other countries that 0% tax are Singapore, Belarus and Slovenia but there are still countries that free of tax because Bitcoin is not legal and not ban like Philippines in which it is very lucky for them as they will enjoy their Bitcoin profit without tax too.

[ThePunisher49X]

Bitcoin is taxable in Canada but it all depends on how you use it.
Cashing it out into dollars will certainly get you in to the tax revenue microscope.
But it is not viewed as legal tender so buying precious metals with it is alright.

[onrise]

There are still a lot of countries that are free from bitcoin or cryptocurrency taxes Singapore, Germany and Denmark. Denmark reportedly plans to pursue a cashless economy in the future and part of that plan is to fully use the cryptocurrencies.  Some countries reportedly have taken a tax-free stance on bitcoin and others are still unofficially tax-free like Switzerland, Hongkong and New Zealand.

It is really nice to see some countries which are tax free for those who earn income from crypto currency. In our country income on such currency are being charged 30% on profits if earned and sold within first 3 years of purchase.

[perfryan]

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

Slovania is a bitcoin tax haven for individual investors.

[1NV3ST0NM3]

Dubai and UAE. They are tax heaven countries if you are really into business. They have no taxes at all so no taxes for bitcoin too. If you asking specifically countries which have no taxability as to its income then I would like to add Belarus to the list. Japan too doesn't has taxes on bitcoins gain I think but it does have taxes on the income you receive in btc.

[makolz26]

Dubai and UAE. They are tax heaven countries if you are really into business. They have no taxes at all so no taxes for bitcoin too. If you asking specifically countries which have no taxability as to its income then I would like to add Belarus to the list. Japan too doesn't has taxes on bitcoins gain I think but it does have taxes on the income you receive in btc.

Are you sure that in Dubai and UAE has no tax? well, it is good to invest their and put up your investment if that so, here in some Asians countries are not yet requiring their people to pay taxes with your earnings just like here in the Philippines while they are still at the process of studying it.

[alani123]

As far as I'm concerned, Greece has no taxes for buying bitcoin or receiving it as a means of payment or paying with it. VAT may apply when using it to buy goods though.

It might also be subject to capital gains too but it's not really enforced as there has never been legislation directly mentioning it and it's all up to interpretation.

[sindikat]

Dubai and UAE. They are tax heaven countries if you are really into business. They have no taxes at all so no taxes for bitcoin too. If you asking specifically countries which have no taxability as to its income then I would like to add Belarus to the list. Japan too doesn't has taxes on bitcoins gain I think but it does have taxes on the income you receive in btc.

Belarus is not taxed income from bitcoin but in this country there can be big problems with the exchange of bitcoins to Fiat. This country is under sanctions and many banks and exchanges refuse to work with the residents of this country. Always it is good there where we are not. But when you start to understand all aspects of taxation you realize that taxes are everywhere.

[Bagaji]

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

There are so many country that do not tax crypto currency related business activities. One of the country in particularly is Nigeria this is a country where Bitcoin and crypto currency in general are not accepted as a means payment for goods and services to the extent that the Nigeria Central bank Governor refer to Bitcoin as a ponzi scheme although he say so as a result of ignorance. And there are so many other countries Africa that do not tax crypto currency related business.

[Granxis]

In Asian countries most of them are not implied taxes, maybe because bitcoin and other crypto currencies are not totally legal in that nation. However, I believe that someday bitcoin and other crypto currencies will become legal in all part of the world. Hopefully that crypto currencies in the whole world will become centralize in the digital world together with the local world.

The Asian continent is a very large continent, and East Asian countries are looking more favorably towards Bitcoin. The most free policy is the south east asia. Most of the Central Asian countries have banned Bitcoin.

[matuson]

I only know of Denmark and Germany but only if you have held them for more than a year I believe.

Does anyone know of any others?

There are so many country that do not tax crypto currency related business activities. One of the country in particularly is Nigeria this is a country where Bitcoin and crypto currency in general are not accepted as a means payment for goods and services to the extent that the Nigeria Central bank Governor refer to Bitcoin as a ponzi scheme although he say so as a result of ignorance. And there are so many other countries Africa that do not tax crypto currency related business.

All countries do not charge taxes on sales of bitcoin. They take taxes from Fiat which you received upon the exchange of bitcoins. A lot of people don't see that as a difference, but it's important. In order not to pay taxes at all, you need to be able to use bitcoin as a currency for the purchase of goods. In regular stores it will not but in the store it's real.

[siti25]

as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

[JC btc]

as I know Malaysia, bitcoin is not recognized as legal tender, and Bank Negara Malaysia does not regulate bitcoin operations. The central bank has advised people to be cautious about the risks associated with the use of the digital currency. but there are still some people who use bitcoin because there is no tax there

Even here in our country which is Philippines we are not yet forced or obliged to pay taxes as our government has not yet making law regarding the tax to imposed on it but I know that time will come they are just seeing any sides and potential how much they will imposed on it.