HanjiArtistryCraftsmanshipMasterpiece
Sat Jun 08 2024
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6 answers
1359
Do I pay tax on my crypto?｜How does tax on cryptocurrency work? When you sell an asset such as cryptocurrency, you need to calculate whether you made a capital loss (meaning you lost money on the sale) or a capital gain (meaning you made a profit), and this will determine the amount of capital gains tax to be paid.
Do I need to pay taxes on my cryptocurrency holdings? And how does the taxation process work for cryptocurrencies? I'm curious about the specifics. When I sell my crypto assets, am I required to calculate whether I've incurred a capital loss, which indicates a financial loss on the sale, or a capital gain, indicating a profit? And how does this calculation factor into the amount of capital gains tax I'm obligated to pay? I'd appreciate some clarity on this matter.
ZenMind
Fri Jun 07 2024
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7 answers
1858
How much crypto tax is in the UAE?｜The country offering zero income tax gives you the benefit of zero percent taxes on capital gain. Dubai views Crypto as an investment asset rather than a currency and charges on UAE residents.zero capital gains tax
Could you please elaborate on the crypto tax situation in the UAE? I'm interested in understanding how much crypto tax is imposed in the country. Given that the UAE offers zero income tax, does this extend to capital gains as well? I've heard Dubai treats crypto as an investment asset rather than a currency. Does this mean that crypto transactions are taxed differently, or do residents still enjoy zero capital gains tax on crypto? Thank you for your clarification.
