Australian media inventory of national cryptocurrency tax system: Japan has the highest tax rate

On July 23, Australian cryptocurrency media Micky issued a document to clarify the cryptocurrency tax system of various countries and pointed out that the Japanese cryptocurrency tax rate is very high. According to the revised version of the fund settlement algorithm implemented in April 2017, the proceeds from the cryptocurrency transaction are classified as miscellaneous income, and the income tax can be up to 45%, which is very high as the transaction market tax rate accompanying the loss. In addition, the media lists cryptocurrency tax systems in other countries, including:
United States: The cryptocurrency is considered an asset and is taxed in the same way as a stock; if a cryptocurrency is purchased and retained for more than one year, a tax of 0% to 20% is levied according to the income level;
Germany: The cryptocurrency transaction is exempt from the additional tax, and the continuation of the cryptocurrency for more than one year is exempt from the transfer of income tax;
Switzerland: Corporate tax is imposed on cryptocurrency transactions of professional investors. Mining is considered as personal income, but investment and transactions of individual investors are not subject to transfer income tax;
Australia: All transactions are considered to be transfer income and are required to retain all accurate transaction records when converted to Australian dollars; if the profits from cryptocurrency investments are made, the same rate of tax as the personal income tax is paid. However, if you hold more than one year of cryptocurrency, you will be deducted 50% of the tax.