Countries where cryptocurrencies are tax-exempt
El Salvador, the Cayman Islands, the United Arab Emirates, and Germany are the five countries where cryptocurrencies are currently tax-free
Cryptocurrencies are an asset that continues to gain traction in the global market. By 2025, there will be five countries where these assets will be tax-free: El Salvador, the Cayman Islands, the United Arab Emirates, and Germany.
This situation stems from strong regulatory frameworks and an openness to transactions with Bitcoin and other cryptocurrencies, thanks to their security, speed, and transparency.
Regarding tax exemption, in the case of the Cayman Islands, cryptocurrencies do not pay income, capital gains, or corporate taxes, making them the ideal instrument for crypto traders and funds.
In the United Arab Emirates, zero tax applies to “all cryptocurrency activity,” and transactions also benefit from a strong and clear regulatory framework.
El Salvador, in Central America, declared Bitcoin legal tender with full tax exemption. The market’s leading cryptocurrency continues to gain national adoption.
Germany, on the other hand, allows cryptocurrency holdings for more than 12 months with zero tax.
Finally, in the case of Portugal, “long-term cryptocurrency gains remain tax-free; the NHR program boosts benefits for expats.”
M.Pino
Source: cointelegraph
(Reference image source: Traxer on Unsplash)
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