• Singapore, Panama, Malaysia, and Germany are the most tax-friendly countries.
• UAE provides zero percent tax on profits and capital gains.
• Belgium has a 33% levy on crypto trades and a 50% professional income tax.

Statistical experts have compiled a list of the 10 most crypto-friendly countries, giving valuable information to the investors and traders looking for a suitable tax policy for their crypto investments.

The According to the tweet, the top 10 tax-friendly crypto countries are United Arab Emirates (UAE), Malta, Belarus, Monaco, Panama, Malaysia, Germany, Singapore, Switzerland, and El Salvador.

Top 10 Crypto tax-friendly Countries:-UAEMalta -Belarus -Monaco -Panama -Malaysia -Germany -Singapore -Switzerland-El Salvador

— Accointing By Glassnode (@accointing) April 3, 2023

The countries in the list are known for their low taxes on cryptocurrency and their regulatory environment that supports crypto investments. As El Salvador recently accepted crypto as a legal tender, it is now becoming a popular destination in the crypto world.

Citizens of the UAE have the advantage of zero percent income and capital gains taxes and 0% VAT for crypto assets. On the other hand, Belgium is the country with the most unfavorable tax laws for crypto. According to the report, a 33% tax on capital gains from crypto transactions is imposed, and a 50% professional income tax is withheld from crypto trades.

The The tax on any crypto gains exceeding $7,000 is 40%, and for substantial returns, the tax rate is up to 46%. This is lower than the capital gains tax for crypto sale in Israel. These facts highlight the importance of taking tax policies into account when investing in cryptocurrencies.

This article was first published on Coin Edition.

See Original on CoinEdition