Tax-Friendly Countries To Live In [Infographic]

Rachel Fernandes https://coinjournal.net 1m 275 #taxes

The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.

• El Salvador is the biggest crypto tax haven. There is zero capital gains tax, neither short term nor long term, and pretty much every law is built around encouraging crypto adoption. Notably, all the laws extend to foreign investors.

• The Cayman Islands come second. Mention Cayman Islands to someone, and the first response you get is likely to be “tax”. The British Overseas Territory has zero corporate tax, capital gains tax or income tax – in all areas.

• Slovenia is in third place. The nation is aiming to adopt a 10% flat tax for exchanging crypto for fiat. On a non-tax related note, there are also more physical locations accepting Bitcoin than in the entire US, while the nation’s biggest shopping centre is named “BTC”.

• Portugal in sixth place is set for a 28% capital gains tax on cryptocurrency in 2023, which could jeopardise the nation’s goal to become the European crypto hub.

• Seven of the top twelve countries are European, as nations push to establish themselves as crypto hubs – including Slovenia, Malta, Georgia, Belarus and Germany.

• Bitcoin is a de facto legal tender in Madeira, Portugal and Lugano, Switzerland.

• The Asian countries of Malaysia and Singapore also have friendly tax laws for digital assets.

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