资本利得税

📢Indian ITAT ruling: Cryptocurrency trading gains before 2022 will be taxed as capital gains tax, and early investors will have their tax burden greatly reduced

The Indian Tax Tribunal (ITAT) recently made an important ruling, which is good news for investors who have realized gains by holding cryptocurrencies for a long time in the country!

The Income Tax Appellate Tribunal (ITAT) in Jodhpur, India made it clear that profits from buying and selling cryptocurrencies such as Bitcoin and Ethereum before April 1, 2022 are all counted as capital gains, not ordinary income. This means that if you trade the cryptocurrencies you hold before 2022, the tax rate you need to pay will be much lower!

The bill stipulates that before 2022, the tax rate for short-term capital gains is 15%, and the tax rate for long-term capital gains is only 10%. This saves a lot of money for those early investors compared to the current 30% unified tax rate.

This ruling was made in a case. One person bought $6,478 worth of Bitcoin in 2015-16 and sold it for $78,803 in 2020-21.

When accepting the ruling, the defendant argued that he had held the cryptocurrency for more than three years, so he should be taxed as long-term capital gains. But the tax bureau disagreed, saying that digital assets have no intrinsic value and should not be considered property. But the ITAT judge supported the investor and said that according to the income tax law, cryptocurrencies are property.

Although this ruling is good news for early investors, India is still lagging behind in digital asset regulation. Many virtual asset companies have moved to more cryptocurrency-friendly places, such as the UAE or Singapore.

However, the Indian government is now also discussing with industry experts to create a balanced cryptocurrency regulatory framework. I hope there will be more good news in the future!

Viewpoint:

This ruling by India's ITAT is undoubtedly a major positive for early cryptocurrency investors. By classifying trading gains before April 1, 2022 as capital gains, the tax rate will be reduced, which will not only reduce the tax burden, but also reflect the tax system's adaptation and recognition of emerging assets. However, this also exposes India's insufficient regulation of digital assets, which may affect its competitiveness in the global cryptocurrency market.

#印度加密货币 #资本利得税 #税务裁决

Slovenia plans to implement a 25% tax on cryptocurrency and derivative profits starting in 2026

The Slovenian government recently announced a tax reform plan for crypto assets, intending to impose a 25% capital gains tax on profits from digital asset and derivative trading starting in 2026, aligning with international regulatory standards. This move could reshape the country's digital asset market landscape and position it as a pioneer in European tax reform.

According to details disclosed by the Ministry of Finance, the "Crypto Asset Disposal Profit Tax Law" will cover profits generated from the exchange of cryptocurrencies for fiat currency and goods payments, but wallet transfers between the same holder will be tax-exempt.

Additionally, to simplify the compliance calculation process, investors may choose to combine taxation based on 40% of the total value held at the end of 2025 and the total historical transaction amount from the previous five years (2020-2025), facilitating a one-time clarification of historical taxes.

Slovenia's implementation of the new tax reform is in sync with global crypto regulatory trends and the improvement of digital asset tax systems in EU countries such as Germany and France, aiming to align with international standards and fulfill commitments outlined in its "2023-2030 Capital Market Development Strategy."

Notably, the removal of the distinction in holding periods between cryptocurrencies and derivatives directly simplifies the previously complex tax system, which may attract more institutional investors into this increasingly regulated market.

However, the new tax policy still presents many uncertainties. On one hand, the 25% tax rate, while on par with some EU countries, is relatively high compared to Eastern European neighbors like Lithuania (15% tax rate), potentially leading to capital outflow; on the other hand, the requirement for taxpayers to maintain complete transaction records poses a significant compliance challenge for long-term holders.

Currently, the proposal has entered the public consultation phase, and it remains to be seen whether the final version can find a balance between promoting market development and ensuring tax fairness.

Conclusion:

In the context of accelerating global crypto regulatory frameworks, Slovenia's tax reform experiment sends a clear signal:

That the era of the unchecked growth of the digital asset market is coming to an end, and a new phase of regulated development is approaching.

However, for investors, understanding and adapting to this change may be more important than predicting short-term price fluctuations.

#加密货币 #税务合规 #欧洲监管 #资本利得税