IN PICS | Crypto Tax Rates Compared Between Different Countries

With surging popularity, cryptocurrencies have caught regulators’ eyes globally. Here is how some countries tax crypto assets.

Crypto Tax Rates Comparison Between Different Countries

India – In India, all gains from the sale of VDAs will face a tax of 30 per cent. However, there are no thresholds under which the VDA tax won’t be imposed. This means that even if a taxpayer’s total income is below the threshold limit of Rs 2.5 lakhs, the gains will be taxable. On top of that, a TDS of 1 per cent will be charged on all VDA transactions. [Image Credit: Getty]

US - Cryptocurrencies are considered property for tax purposes in the US and must be reported in tax returns. Selling crypto for fiat, token airdrops, mining or staking crypto, and buying one token with another are all taxable. The rates vary between 0-37 per cent for capital gains and income tax. [Image Credit: Getty]