Countries with No Bitcoin Taxes

[EvenMatt]

if you start trading with bitcoins in germany.then you need to pay taxs on the profit.
doesnt metter you hold these coins for more than 1year or not.

[Amph]

if you start trading with bitcoins in germany.then you need to pay taxs on the profit.
doesnt metter you hold these coins for more than 1year or not.

how about mining activity? and what if one cannot keep traces of all his trasncactions? because some come from pool others are lost because the exchange vanished with the money, and or sort of this proble?

not to mention the altcoin fest, it would be really a nightmare to declare anything

[dollarneed]

i new realize that denmark and germany has no taxes for bitcoin,that would be great, i wish so many countries with no bitcoin taxes to

[ammy009]

India has no Bitcoin Taxes 

[Amph]

India has no Bitcoin Taxes 

but there is heavy restriction if i'm not mistaken and the legality of bitcoin is still in doubt there

they are still thinking that it can be used for illicit activity

[ammy009]

India has no Bitcoin Taxes 

but there is heavy restriction if i'm not mistaken and the legality of bitcoin is still in doubt there

they are still thinking that it can be used for illicit activity

RBI (Reserve Bank of India) play neutral role on Bitcoin activities in India. It doesn't ban bitcoin & also doesn't support it.

[btc-facebook]

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?

hmm... as far as I know Indonesia doesn't have bitcoin taxes because they are not make any policy against bitcoin. It means that they are using bitcoin as their own responsibility and goverment have nothing against bitcoin

[ikydesu]

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?

hmm... as far as I know Indonesia doesn't have bitcoin taxes because they are not make any policy against bitcoin. It means that they are using bitcoin as their own responsibility and goverment have nothing against bitcoin

Yes that's right, although Bank Indonesia do not recommend using bitcoin because the transaction not guaranteed, but not to banning bitcoin usage.


~iki

[sakira]

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?

hmm... as far as I know Indonesia doesn't have bitcoin taxes because they are not make any policy against bitcoin. It means that they are using bitcoin as their own responsibility and goverment have nothing against bitcoin

Yes that's right, although Bank Indonesia do not recommend using bitcoin because the transaction not guaranteed, but not to banning bitcoin usage.


~iki

You can translate this thread https://bitcointalk.org/index.php?topic=1103012.0
there discusses the law and use Bitcoin in Indonesia

[CheckOut3]

I know some like Malaysia, Germany and some other African countries.

[Wheelige]

Inland Revenue in New Zealand has said that they are currently working on policies/guidelines for taxing cryptocurrencies. It sounds like they will treat 'coins' like gold (taxing realized gains) as their idea is that you speculate on the coins value and the intention was to buy for the purpose of resale later. While this suggestion ignores people that hold bitcoin because they think it will be used akin to money I think that taxing it similar to gold makes sense as it is pretty much cyber-gold, a store of wealth in space. Tokens are what I think will require a considerable amount more consideration as there needs to be a lot of grey area. Some tokens offer dividends and are like shares, some offer voting rights on the platform and that is, and some are used to buy services from the issuer. It would be very surprising if all cryptos were taxed using the same method (especially as if you used your tokens and no 'sale for profit' took place no tax would fall due).

[lili song]

Inland Revenue in New Zealand has said that they are currently working on policies/guidelines for taxing cryptocurrencies. It sounds like they will treat 'coins' like gold (taxing realized gains) as their idea is that you speculate on the coins value and the intention was to buy for the purpose of resale later. While this suggestion ignores people that hold bitcoin because they think it will be used akin to money I think that taxing it similar to gold makes sense as it is pretty much cyber-gold, a store of wealth in space. Tokens are what I think will require a considerable amount more consideration as there needs to be a lot of grey area. Some tokens offer dividends and are like shares, some offer voting rights on the platform and that is, and some are used to buy services from the issuer. It would be very surprising if all cryptos were taxed using the same method (especially as if you used your tokens and no 'sale for profit' took place no tax would fall due).

I think still more country use bitcoin but no need to pay tax. Because their country, the government not legalized bitcoin yet.
After the government legalized I sure the government will set the rules and need pay tax, and can increase the income for the country.

[Rajamuda]

The most countries haven't yet applied the taxes on bitcoin, but over time I'm sure seems will be more countries will applying the taxes on bitcoin (from bitcoin incomes).

[Kemarit]

Haven't you heard about Belarus?

https://www.ccn.com/belarus-acknowledges-bitcoin-legal-currency-legalizes-icos/

Unlike several major bitcoin markets like South Korea, the Belarus government will not tax mining, trading of cryptocurrencies, and sale of digital tokens. According to Belarus Hi-Tech Park director Vsevolod Yanchevsky, activities related to mining, creation, acquisition and sale of digital tokens will remain tax-free until 2023, throughout the next five years.

So that is close as a paradise for every crypto loving individuals. Another country that I think don't tax bitcoin is Australia, they have legalized bitcoin last July 1 or 2, 2017. From where I lived, bitcoin as well is not tax as of yet. But I'm expecting that sooner our government will impose tax if we change our bitcoin to local fiat. And there are countries who still remain on neutral grounds so no tax as well. But I reckon that 2018 will be another year that bitcoin and crypto's will take off, so it's just a matter of time before a country will make their decision to accept or put regulations or a total ban like what Bangladesh and Indonesia did recently.

[Cryptotradenz]

As far as i am aware, the IRD of NZ  has said they are still trying to decide what to do with it.  It has been suggested they are pondering treating crypto like "real assets" such as gold and silver, taxing on capital gains. Time will tell

[Cryptotradenz]

Interesting article i just found for KIWIS / NZERS

https://www.interest.co.nz/personal-finance/91564/ird-says-people-should-consider-money-made-selling-cryptocurrencies-bought

[Aamir1]

Pakistan is also in the list of countries where there are no taxes on Bitcoin. I think the reason for this is that there aren't any rules implemented on Bitcoin or cryptocurrencies in Pakistan yet, so taxing something which is not even known by the total citizens of a country isn't logical at all. There is still a lot of time for Bitcoin to get spread all over the country, so we (Bitcoin owners) still have a lot of time to use it without any limitations. 

[stantpro]

Please can someone explain how people are taxed on bitcoin sales when it is not transferred to a government
controlled fiat banks.Transactions are always implemented digitally using decentralized block-chain technology.
So, how is a participant to be taxed?Does the government of these jurisdictions have access to monitor sellers
and buyers of bitcoin?

[rhamzter]

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.

[vikashh]

can i get the list of countries plzz