Lithuania, Germany, Portugal: experts speak about the most crypto-oriented countries

Experts from Manimama indicated several jurisdictions that are friendly to cryptocurrency projects and owners of digital assets. They identified seven countries where community members can take advantage of local incentives.

For example, in Lithuania the basic corporate tax rate is 15%. For small businesses the rate is 0–5%.

For German residents, the income tax reaches 15%, and the trade tax rate is 3.5%. Important point: taxation also depends on trade rates depending on the municipality.

In Portugal there are also certain advantages for SMEs. In addition, local authorities have set a 0% rate for the first €50,000 of total taxable income.

Swiss residents can expect 8.5% federal tax and rates of 11%-21% depending on the canton.

In Dubai, the tax for companies is 9% or 0% when operating in a free zone. Also, members of the crypto community can take advantage of the zero rate when they first receive income of 375,000 dirhams.

Corporation tax for Singapore residents reaches 17%. There are also differentiated rates depending on income level and benefits for individual investors.

Malta offers rates of 0% for singles with an income of €9,100 and up to €12,700 for married people. You can also avoid paying capital gains tax on long-term gains from the sale of digital currency if it is considered a “store of value.”

Henley & Partners analysts recently compiled their rating of states friendly to crypto projects. It included 26 countries, and Singapore took first place.

Switzerland and Hong Kong are also in the top 3. In addition, the top ten included the USA, Australia, Great Britain, Canada, Malta and Malaysia.

“Malta’s reputation as the “Blockchain Island” has been bolstered by government initiatives to foster innovation, attract blockchain businesses, and provide regulatory clarity, while Malaysia is developing into a promising center for blockchain innovation in the Asian region with its burgeoning crypto community and the emergence of numerous start-ups,” said Dominik Volek, head of the private client group at Henley & Partners.

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