Tax Classification a. Income and Wealth Tax As to income tax treatment, particular token classification is not decisive (unlike in some countries): The FMV (fair market value) of a token is subject to annual wealth tax of up to 1% (regardless of token’s classification). Capital gains from sale of tokens held as (1) private property … Continued
Individual Investors
Taxation of Private Individual Investors a. Income Tax Holding of tokens: merely holding tokens acquired via crypto exchanges is not considered to generate income or earnings. Generally, the purchase or sale of tokens is treated equal to transactions with conventional assets: profit and loss from such private assets transactions generally constitute tax-free capital gains / … Continued