PwC: Liechtenstein Virtual Currency Tax Index Ranked # 1
PricewaterhouseCoopers (PwC) has published reports on the taxation of virtual currencies in various countries. The PwC report states that Liechtenstein, Malta and Australia are among the top three in the taxation of virtual currencies.
PwC's report is based on information each of these countries has provided in a tax law guide for 20 different cryptocurrency projects. The quality of the content of the manual was not taken into account. Overall, the report looks at how countries are applying existing tax laws to digital assets rather than introducing new rules specific to the characteristics of digital assets and cryptocurrencies.
In addition, from a tax management perspective, more than half of the regions have seen capital gains from virtual currency trading. Regarding the positioning of virtual currency, most countries consider it as “property or intangible property”, “other” or “no clear rules”.
With regard to specific tax period The most common practice in various countries is to levy taxes on “virtual currency and legal currency exchange”, followed by “virtual currency exchange”. Among them, France is beyond the usual atmosphere in terms of "cryptocurrency exchange". Defining cryptocurrency as "digital assets created with cryptography and functioning in a distributed ledger", in a simple way, to money. Finally, the report states that most countries and regions have not yet decided on tax policies for the placement of primary ICO tokens.