Monday, May 29, 2023

Variable Buy/Sell Tax

by Hideo Nakamura
Variable Buy/Sell Tax

What is Variable Buy/Sell Tax?

Variable buy/sell tax, also known as capital gains taxes (or CGT), is a type of taxation imposed on the profits from trading cryptocurrencies. This tax applies to all profits made from buying and selling cryptocurrency holdings, and it can vary depending on the jurisdiction in which you are located. The rate of this tax usually depends on how long you have held your asset for before selling it – with shorter holding periods typically subject to higher rates of taxation than longer-term investments. As such, investors wishing to minimize their taxable liability should pay attention to the length of time they hold their coins for before cashing out or exchanging them for another currency.

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