xAccording to crypto analytics company Coincub, Belgium is the country that applies the highest taxation on cryptocurrencies, including a tax of 33% on income from crypto investments and 50% on crypto professional income.
In Iceland, the gain from crypto of $7,000 and higher is taxable at 46%. Under Israel’s tax regime, the sale of cryptocurrencies is usually subject to a tax of up to 33%. If crypto trading relates to corporate income tax, it can be as high as 50%.
In the Philippines, crypto income over $4,500 would pay tax up to 35%. Japan has a progressive tax system that varies from 5% to 45%, depending on the amount of gross profit.
Research indicates that some countries have more favorable crypto tax policies. Germany tops the list of best places for crypto investment. Other crypto-tax-friendly zones include Italy, Switzerland, Singapore, and Slovenia.