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Rates of taxing profits from Forex in the world
As the old saying goes, "only death and taxes are certain." But if the forex tax is 0% it doesn't have to be that terrible. Despite the repeated assurances of various governing parties in Poland, in the last dozen or so years no one has decided to take the step of abolishing the so-called "Beam tax". This tax is the bane of stock market and forex investors. It also reaches into the pocket of people who invest their funds in bonds, deposits and treasury bills. However, let's ignore the fact that the tax rate is as high as 19%, which is almost 1/5 of our profits. The settlement operation itself is extremely problematic for FX traders.
READ ALSO: Taxation of income from the Forex market in Poland
In the event that we conclude several hundred transactions per year and keep an account in a foreign currency, a huge amount of calculations must be made. The regulations say that all transactions should be converted into PLN. And at the NBP exchange rate on a given day separately (only the program comes to the rescue Forex Club - Tax). But before we start complaining in Old Polish, let's see what the tax situation looks like in other regions of the world and see if 19% is actually that much.
The data are as of February 2016.
| End | Capital gains tax | Comment / Interesting |
| Argentina | no defined tax | Taxes on profits in the 9-35% range, which also include the stock exchange |
| Austria | 25% or 27,5% | The lower rate includes bank accounts and a bank book |
| Barbados | no tax | - |
| Belize | no tax | - |
| Bulgaria | no tax for instruments from the BSE exchange | Fixed 10% rate for other profits |
| Cayman Islands | no tax | - |
| China | 10% or 25% | The rate depends on the type of taxpayer (company / individual, resident / non-resident) |
| Cyprus | no tax | - |
| Czech | 15% for a private person, 19% for a company | Companies with a share of more than 10% in shares are exempt from tax |
| Denmark | 27% up to 48 300 DKK, 42% above this amount 28% of the dividend | - |
| Egypt | no tax | Proposal to introduce 10% tax |
| Estonia | 20% tax | The same rate for each type of profit |
| Finland | 30% tax and 34% above 30 000 EUR | Possibility to deduct losses within 5 years |
| Germany | 25% tax | Instruments purchased before 31.12.2008 are exempt from tax |
| Hong Kong | no tax | Salary paid in the form of shares or options taxed at the normal rate |
| Węgry | 15% tax | Flat rate for everyone |
| Iceland | 20% tax | The rate has been gradually doubled in 3 years (2008-2011) |
| Irlandia | 33% tax | The tax should be paid by December 15 for the period January-November |
| Israel | 25% tax | - |
| Włochy | 26% for a private person, 27,5% for businesses | - |
| Jamaica | no tax | - |
| Kenya | 5% tax | From 1985 to 2015, the tax was 0% |
| Latvia | 15% for a private person and companies. 10% of the dividend | - |
| Malezja | no tax | The forex tax was abolished in 2007 |
| Norwegia | 27% tax | - |
| Philippines | 6% tax | - |
| Romania | 16% tax | 5,5% is added to the tax for health insurance |
| Singapore | no tax | - |
| Slovakia | 19% or 25% tax | 14% is added to the tax for health insurance |
| Spain | max. 23% for a private person, max. 25% of the company | Citizens of the EU, Iceland and Norway pay according to the 19% rate. |
| Sweden | 30% tax | - |
| Switzerland | no tax | Taxes apply to people with the status of "professional" |
| Tajwan | no tax to the amount of approximately 33 million USD | Above approx. 33 million USD tax is 0,1% |
| Tajlandia | no tax | - |
| Turkey | no tax | For transactions to 2 years |
| United States | up to 15% (federal tax) + capital gains tax | Natural and legal persons pay tax on the net sum of all their capital gains. US tax calculator. |
source: Wikipedia.com
