Countries that don’t levy any capital gains taxes on bitcoin

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At a time when the whole world is struggling to this Coronavirus pandemic, people across the globe are getting more concerned about their savings and investments. While banks and other financial institutions are things of past, investing in cryptocurrency options like Bitcoin and Ducatus coin is been looked forward as a future prospect.

Besides providing you with some exceptional financial growth, cryptocurrencies like Ducatus coin and bitcoin can now be used to make all those online purchases of daily used goods and other stuff. Moreover, there are certain countries that don’t tax your bitcoin gains and this is where you can look forward to reaping some more benefits in the process.

Singapore

Singapore can certainly be termed as a haven for all the bitcoin users as there are no capital gains taxes here for any individual or corporate holding BTC. Still, the firms that are indulged in the trading of crypto currencies like bitcoin or ducatus coin are liable for income tax as per the local rules.

All the firms and individuals are only taxed on the profit generated within the territories of the country or any transaction carried out with bitcoin or any other like Ducatus cryptocurrency for any given purpose.

Malaysia

Just like its Singapore, neighbor country Malaysia also doesn’t have any capital gains tax ruling for the crypto currency options like Ducatus coin or Bitcoin. Furthermore, trading in crypto currencies is also been exempted from any kind of taxes here.

Still, the scenario may change in the coming future with rumors doing rounds about the recognition of Bitcoin as a legal tender.

Portugal

From the southeast countries of Malaysia and Singapore, we now head towards the European country Portugal that also doesn’t imply any type of taxes on trading and transactions involving cryptocurrencies like Bitcoin and Ducatus coin Deutschland.

While the citizens are under no obligation of paying taxes for trading and transacting in crypto currencies, it’s only the firms that accept crypto currencies as a payment of goods and services, which needs to pay the usual VAT or income tax.

Germany

The rule is simple in this European country-if you are holding bitcoin for a year or more, you are not required to pay any kind of taxes. No matter how much money you have made while selling bitcoins, you are not required to pay any tax on capital gains if you held the bitcoins for more than one year.

Bitcoin is been deemed as private money so you are not liable to pay any taxes on the same.

Belarus

Belarus comes as another European country that doesn’t imply any taxes on trading and transactions involving bitcoin within its territories. The country brought a new law in the year 2018 that exempt everyone from paying any form of taxes on Bitcoin trading and exchange.

Well, we can certainly say that the future for other cryptocurrency options like Ducatus cryptocurrency and ethereum is quite bright in these countries.

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