征税

Global Major Market Cryptocurrency Tax Policies: The UK has the highest tax rate at 24%, while the EU's tax rate can reach up to 53%

ChainCatcher news, according to The Block, major global markets are strengthening tax regulations on cryptocurrencies. According to the latest policy, the U.S. IRS classifies crypto assets as digital assets and adopts a taxation method similar to that of stocks and bonds. Specifically, simply buying and holding is not taxed, but actions that "realize gains," such as selling, exchanging between cryptocurrencies, and using cryptocurrencies for shopping, are subject to capital gains tax; mining income, staking rewards, and wages received in cryptocurrency are taxed as income.The UK's HM Revenue and Customs (HMRC) imposes a capital gains tax of up to 24% on cryptocurrency transactions, with a basic rate taxpayer applicable to a 10% rate and a tax-free allowance of the first £3,000. Additionally, mining income and salaries paid in cryptocurrency are subject to income tax, and employers must pay national insurance on salaries paid in cryptocurrency.The EU has not yet unified tax standards, and there are significant policy differences among member states. Germany exempts cryptocurrencies held for more than a year from tax, while selling within a year incurs a maximum income tax of 45%, plus a 5.5% solidarity surcharge. Spain imposes a unified tax rate of 19%-28% on crypto gains. Portugal's tax rate ranges from 14.5%-53%, with a standard capital gains tax rate of 28%.

Russian President Putin officially signed the digital currency taxation law, recognizing digital currency as property

ChainCatcher news, according to TASS, Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies.According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the "Experimental Legal Regime (EPR) in the field of digital innovation." The mining and sale of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities the issuance of cryptocurrencies using their services. Failure to timely transmit such information may result in a fine of 40,000 rubles.In terms of personal income tax, digital currencies obtained through mining will be classified as tangible income (a term typically used when payment is made using goods or services rather than currency). The value of the income will be determined based on market quotes. Such income will be taxed at the usual progressive tax rates, taking into account tax deductions for the amount of mining expenses.At the same time, income from the acquisition, sale, or other circulation of digital currencies will be taxed at a two-tier personal income tax rate (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as income from transactions with securities, bank deposits, and other sources. Regarding corporate income tax, digital currency mining will be taxed at the standard rate (25% starting in 2025).
ChainCatcher Building the Web3 world with innovators