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How much taxes are required to pay on Crypto?

  • Thread starter Thread starter Grant
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Grant

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I am aware in the US that Cryptocurrency is taxable income, but how much is it taxed? How much taxes are usually taken out when you sell off your crypto? Is it the same as if you made cash at a job? Is it taxed exactly the same? Or is there a difference in how much taxes are taken out?
 
In my country, cryptocurrency has not been officially approved, so there is no mandatory income tax, but those who voluntarily declare income from cryptocurrency pay only 8 percent, although the basic tax rate is 21. I think it is a cool opportunity to encourage others to also pay income tax and pay only 8 percent
 
It depends on the country in which you reside or are a citizen and it also depends on the profits you have had with cryptocurrencies, in my country for example the maximum rate to pay would be 29% of the total profits, which I think is quite high.
 
It depends on the country where you are living. In my home country, crypto is not even recognized as an asset by the law. In my neighboring country, they are taxing 30 percent
 
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