Eight Countries That Don’t Tax Your Bitcoin Gains

As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes.

Circumstances vary, but the real motivation leans more toward facilitating increased investment within the respective jurisdiction’s cryptocurrency industries, perhaps as a base for future taxation. For now, that has not happened yet. Here’s a list of eight countries – in no order of importance – which may be considered as bitcoin tax havens, states that don’t want your BTC investment gains.


In Portugal, tax authorities waived all tax on cryptocurrency trading and transacting – meaning that individuals do not have to pay capital gains tax or value added tax (VAT), when buying or selling BTC and other digital assets. The Portugal Tax Authority (PTA) said “an exchange of cryptocurrency for ‘real’ currency constitutes an on-demand, VAT-free exercise of services.”

While citizens are under no obligation to pay income tax when exchanging crypto for fiat, the PTA, however, indicated that businesses which accept digital currencies as payment for goods and services are liable to paying taxes such as VAT and income tax. The income tax relief makes Portugal’s laws some of the most favourable throughout the world, given how income tax is a huge expense on the accounts of most crypto traders.


If you hold bitcoin for one year or more in Germany, you won’t have to pay any taxes. Regardless of how much money you make selling your BTC, you do not pay capital gains as long as you have held your coins for a period exceeding 12 months.

Europe’s biggest economy regards BTC as private money, contrary to the widespread view in most developed countries, which look at crypto as currency, commodity or equity. In Germany, private sales that do…

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