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Tax and information reporting.
Tax is the rule every holder feels. Asia runs the full range, from no tax on gains to top income tax rates, with per-trade levies in between.
Reporting is converging on the OECD's crypto-asset reporting framework, which lets tax authorities swap data across borders.
Which markets in Asia have crypto tax clarity?
Across the 31 markets Four Pillars tracks in full, as of 15 Oct 2026: Comprehensive (10): Australia, Cayman Islands, India, Indonesia, Israel, Japan, Singapore, Thailand, UAE and Uzbekistan. Partial (10): Bahrain, Bermuda, Bhutan, British Virgin Islands, Hong Kong, Kazakhstan, Kyrgyzstan, Malaysia, Taiwan and Vietnam. Developing (9): Cambodia, Jordan, Mongolia, Oman, Pakistan, Philippines, South Korea, Turkey and Turkmenistan. Restricted (2): China and Qatar.
- Bahrain0%No personal income tax; no crypto-specific rules
- Bhutan0%Non-citizen individuals in Gelephu Mindfulness City, to 2030
- Hong Kong0%No capital gains tax; trading profits fall under profits tax
- Malaysia0%No capital gains tax; trading and mining gains are taxed as income
- Singapore0%No capital gains tax; trading gains are taxed as income
- South Korea0% today22% planned from 2027Untaxed today; 22% on annual gains above ₩2.5M is legislated from January 2027
- Thailand0%Exempt on licensed Thai platforms, 2025 to 2029
- UAE0%No personal income tax; 9% corporate tax applies to businesses
- Uzbekistan0%Crypto transactions exempt under PP-3832
- Vietnam0.1% per trade0.1% of each transfer via a licensed provider
- Indonesia0.21% per trade0.21% final tax per trade on licensed platforms (1% offshore)
- Israel25%Base capital gains rate for individuals
- India30%Flat, no loss set-off, plus 1% TDS on each transfer
- Australia47%Top marginal rate incl. Medicare levy; 50% CGT discount after 12 months until 30 June 2027, then cost base indexation and a 30% minimum tax on gains
- Japan55% today20.315% planned from 2028Top rate as miscellaneous income today; a flat 20.315% is enacted, from the January after the FIEA amendment takes effect (expected 2028)
Bahrain
Bhutan
Hong Kong
Malaysia
Singapore
South Korea
Thailand
UAE
Uzbekistan
Vietnam
Indonesia
Israel
India
Australia
JapanNo crypto-specific rate to chart: China, Taiwan, Mongolia, Philippines, Cambodia, Pakistan, Kazakhstan, Kyrgyzstan, Turkmenistan, Qatar, Oman, Turkey, Jordan, Cayman Islands, British Virgin Islands, Bermuda. Headline rates only; thresholds, holding periods and business income rules differ.
Where each market stands · 61 sources across 24 markets
AustraliaComprehensiveDisposals trigger CGT; a 2026 law swaps the 50% discount for indexation and a 30% minimum tax from July 2027
Treasury Laws Amendment (Tax Reform No. 1) Act 2026
Assented to on 26 June 2026. For CGT events from 1 July 2027 it ends the 50% capital gains discount for individuals and trusts, replacing it with cost base indexation for gains accruing from that date (assets held then are deemed sold and reacquired, so earlier gains keep the discount), and adds a 30% minimum tax on resident individuals' capital gains. This will apply to crypto held as an investment.
Read the originalCrypto asset investments
ATO guidance hub (last updated 22 June 2026) on capital gains tax for crypto disposals, the personal use asset exemption, DeFi and wrapping, chain splits and record keeping.
Read the originalGovernment response to the Board of Taxation's Review of the tax treatment of digital assets and transactions in Australia
Accepts the Board's finding that existing tax law can handle digital assets, with the ATO to fill gaps through a crypto working group and new guidance.
Read the originalTreasury Laws Amendment (2022 Measures No. 4) Act 2023, Schedule 2
Excludes digital currencies such as bitcoin from foreign currency tax rules, backdated to 1 July 2021, so crypto held as an investment stays under capital gains tax.
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Cayman IslandsComprehensiveNo income, corporation or capital gains tax; CARF crypto reporting in force from 1 January 2026
Regulations Now Published on CARF and CRS
Announces the CARF and amended CRS regulations published on 27 November 2025; in-scope entities report 2026 information in 2027, when Cayman makes its first exchanges with partner jurisdictions.
Read the originalTax Information Authority (International Tax Compliance) (Crypto-Asset Reporting Framework) Regulations, 2025 (SL 51 of 2025)
Implements the OECD CARF from 1 January 2026: Cayman reporting crypto-asset service providers register by 30 April 2026 (or 31 January after the year they start) and file annual returns by 30 June.
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IndiaComprehensive30% flat tax on VDA gains with no loss set-off, 1% TDS on transfers and crypto reporting duties
Finance Act, 2026 (No. 4 of 2026)
The first budget law under the Income-tax Act, 2025. Its new section 446 sets penalties of ₹200 a day for not filing, and ₹50,000 for inaccurate, crypto-asset transaction statements under section 509, from 1 April 2026.
Read the originalIncome-tax Rules, 2026 (G.S.R. 198(E)): rules 241 to 244 and Form 167 on crypto-asset reporting
In force from 1 April 2026, these rules set CARF-style due diligence for reporting crypto-asset service providers and require Form 167 statements for each calendar year from 2026, due by 31 May of the following year.
Read the originalIncome-tax Act, 2025 (No. 30 of 2025)
Replaced the Income-tax Act, 1961 from 1 April 2026. It keeps the VDA definition (section 2(111)), the 30% tax with no loss set-off (section 194), the 1% TDS (section 393(1)) and crypto-asset reporting (section 509).
Read the originalFinance Act, 2025 (No. 7 of 2025)
Added crypto-asset reporting by prescribed entities (section 285BAA of the 1961 Act) and widened the VDA definition. Also brought VDAs into undisclosed income for search assessments. These rules now sit in the Income-tax Act, 2025.
Read the originalCircular No. 13 of 2022: Guidelines under section 194S of the Income-tax Act, 1961
Explains how exchanges and counterparties deduct the 1% TDS on VDA transfers, including exchange-to-exchange and in-kind trades. Issued under section 194S of the 1961 Act, whose rule now sits in section 393(1) of the Income-tax Act, 2025.
Read the originalFinance Act, 2022 (No. 6 of 2022)
Inserted the VDA definition (section 2(47A)), the 30% tax (section 115BBH) and 1% TDS (section 194S) into the Income-tax Act, 1961. Carried into the Income-tax Act, 2025 from 1 April 2026.
Read the originalBudget Speech 2022-23 (Scheme for taxation of virtual digital assets)
The Finance Minister announced the 30% VDA tax and 1% TDS, the first formal recognition of crypto in Indian law.
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IndonesiaComprehensivePMK 50/2025: 0.21% final income tax on licensed local trades, 1% offshore, no VAT on purchases
Buying Crypto Is No Longer Subject to VAT
DJP guidance confirming that, from 1 August 2025, buying crypto through a licensed platform no longer carries VAT.
Read the originalMinister of Finance Regulation No. 50 of 2025 on VAT and Income Tax on Crypto Asset Trading
Issued 25 July 2025 and effective 1 August 2025, replacing PMK 68/2022. Buyers no longer pay VAT, and income tax is 0.21% final on licensed local platforms and 1% on designated foreign ones.
Read the originalPMK 50/2025: A New Chapter in Crypto Asset Taxation
The tax authority's explanation of the 2025 crypto tax overhaul and why it moved from the PMK 68/2022 model.
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IsraelComprehensiveTax Authority Circular 05/2018 treats crypto as an asset; individual gains taxed at a 25% base rate
Taxation of Digital Currencies (Annual Audit Report 75A, Part 2)
The State Comptroller's audit of how the Tax Authority taxes and tracks digital currency gains, finding gaps in enforcement and legislation (Hebrew).
Read the originalDigital Asset Regulation: Recommendations for the development of domestic regulation
The government's policy blueprint for crypto, recommending licensing of backed stablecoin issuers, Bank of Israel oversight of systemic tokens and clearer tax rules. English version.
Read the originalIncome Tax Circular 05/2018: Taxation of activity in decentralised means of payment ("virtual currencies")
Treats virtual currency as an asset, not a currency, so gains are capital gains (25% base rate for individuals) unless the activity is a business; miners and traders may owe VAT (gov.il blocks automated checks; URL confirmed via search).
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JapanComprehensiveTaxed as misc. income at up to 55%; a flat 20.315% rate is enacted and due from 2028
Act Partially Amending the Income Tax Act, etc. (Law No. 12 of 2026)
Enacted and promulgated 31 March 2026, it creates a separate 15% national income tax (about 20.315% with local and reconstruction taxes) on specified crypto-assets sold through registered firms, with a three-year loss carry-forward. It applies from 1 January of the year after the FIEA amendment takes effect.
Read the originalOutline of the FY2026 Tax Reform
Cabinet decision to tax gains on specified crypto-assets sold through registered firms at a separate 20% rate with a three-year loss carry-forward, from 1 January of the year after the FIEA amendment takes effect. Enacted by the March 2026 Income Tax Act amendment.
Read the originalTax treatment of crypto-assets and calculation sheets (December 2025)
The NTA's current FAQ and worksheets: crypto gains are miscellaneous income taxed at progressive rates of up to about 55% including local tax.
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SingaporeComprehensiveNo capital gains tax; trading gains taxed as income; DPT exchanges exempt from GST since 2020
IRAS e-Tax Guide: Income Tax Treatment of Digital Tokens
Capital gains on tokens are not taxed, but gains from trading are taxed as income under the badges of trade. Latest edition published 30 January 2026.
Read the originalGST: Digital Payment Tokens
Since 1 January 2020, exchanging digital payment tokens for fiat or other tokens is exempt from GST, removing double taxation on crypto used as payment.
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ThailandComprehensiveGains on licensed Thai platforms exempt from personal income tax for 2025 to 2029 (Ministerial Reg. 399)
Ministerial Regulation No. 399 (B.E. 2568) issued under the Revenue Code
Exempts individuals from income tax on gains from selling digital assets through SEC-licensed exchanges, brokers or dealers from 1 January 2025 to 31 December 2029.
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UAEComprehensiveNo personal income tax; VA transfers VAT-exempt back to 2018; 9% corporate tax; CARF reporting from 2027
Automatic Exchange of Information: Crypto-Asset Reporting Framework (CARF)
The UAE ratified the CARF agreement by Federal Decree No. 60 of 2026 on 4 May 2026. Implementing Cabinet and Ministerial Decisions are targeted to take effect on 1 January 2027, with first reports due by 30 June 2028 and the first exchange of information on 1 September 2028.
Read the originalUAE signs Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework
Announces that the UAE signed the OECD CARF agreement on 21 July 2025 and opened a consultation on domestic rules that ran to 8 November 2025.
Read the originalVATP040: Amendments to the Executive Regulation of Federal Decree-Law No. 8 of 2017 on Value Added Tax (Cabinet Decision No. 100 of 2024)
Public clarification of the amendments that exempt the transfer and conversion of virtual assets from VAT, effective from 15 November 2024 with retroactive effect to 1 January 2018; paid custody and wallet services remain taxable.
Read the originalVATP039: Crypto Currency Mining (VAT Public Clarification)
Mining crypto for one's own account is outside the scope of VAT and its input tax is not recoverable, while mining for someone else is a taxable supply of services.
Read the originalFederal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
Introduces corporate tax for financial years starting on or after 1 June 2023, at 9% on taxable income above AED 375,000 (the threshold set by Cabinet Decision No. 116 of 2022); individuals' personal investment gains are not taxed.
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UzbekistanComprehensivePP-3832 exempts crypto transactions from tax; licensed providers pay fixed monthly fees instead
List of specially authorised crypto exchanges for the special tax regime for foreign citizens
NAPP Order No. 49 authorises Coinpay and Asterium to open wallets for foreigners under the special tax regime.
Read the originalResolution PP-143 on creating a special mining zone in the Republic of Karakalpakstan
In force from 20 April 2026: makes Karakalpakstan the Besqala Mining Valley, exempts residents' mining income from taxes and fees until 1 January 2035 for a 1% monthly payment, and lets them sell mined crypto abroad with proceeds credited to Uzbek banks.
Read the originalDecree UP-180 on measures to implement a special tax regime for foreign citizens
Exempts qualifying foreigners' foreign income from personal income tax from 2026 and lets them hold funds in a crypto wallet at a specially authorised Uzbek exchange.
Read the originalRegulation on fees for activities in the sphere of crypto-assets turnover (No. 3388)
Sets the monthly fees miners and providers pay in place of tax; amended in July 2026 to exempt Besqala Mining Valley residents until 2035.
Read the originalResolution PP-3832 on measures to develop the digital economy and the sphere of crypto-assets turnover (unofficial English translation)
The founding act, as amended to April 2026: defines crypto-assets, service providers and mining, exempts crypto transactions from tax, and requires residents to deal only through national providers.
Read the original
BahrainPartialNo personal income tax, but no crypto-specific tax guidance; 15% DMTT applies to large MNEs from 2025
Decree-Law No. (11) of 2024 on the Domestic Minimum Top-up Tax
Imposes a 15% top-up tax on Bahraini entities of multinational groups with revenue of at least EUR 750 million from 2025. Bahrain otherwise has no personal income tax and no crypto-specific tax rules.
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BermudaPartialNo income or capital gains tax; 15% CIT on entities of MNE groups with EUR 750m+ revenue from 2025
Crypto-Asset Reporting Framework (CARF)
CITA's page on the OECD crypto reporting standard. It says details of Bermuda's participation, reporting obligations and implementation timelines will be published in due course.
Read the originalCorporate Income Tax Act 2023
Imposes a 15% tax on Bermuda entities of multinational groups with revenue of EUR 750 million or more in two of the four prior years, for fiscal years beginning on or after 1 January 2025. Assented 27 December 2023.
Read the originalExempted Undertakings Tax Protection Act 1966
Lets the Minister assure exempted companies, LLCs and partnerships, up to 31 March 2035, that any future tax on profits, income or capital gains will not apply to them. Since 2025 these assurances do not protect against the Corporate Income Tax.
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BhutanPartialGMC: 15% corporate tax and 0% for non-citizen individuals to 2030; no crypto-specific tax rules
Income Tax Act 2025 (Law No. 6 of 2025)
Deemed in operation from 26 December 2024, with some provisions commenced later by notification. Taxes companies in GMC at 15% and non-citizen individuals at 0% on income derived up to 31 December 2030; it has no crypto-specific provisions.
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British Virgin IslandsPartialNo income or capital gains tax and no crypto tax guidance; CRS 2.0 since 2026, CARF exchanges from 2028
Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2026 (No. 1 of 2026)
Gives effect to the OECD's amended Common Reporting Standard, including digital money products, deemed effective from 1 January 2026. Gazetted on 5 March 2026.
Read the originalCRS 2.0 and CARF
Notice that CRS 2.0 applies from 1 January 2026, with first reports due by May 2027, and that the BVI has committed to CARF with first exchanges in 2028.
Read the originalEconomic Substance (Companies and Limited Partnerships) Act
Requires BVI companies and limited partnerships carrying on relevant activities, such as holding, financing and leasing, fund management or IP business, to show economic substance in the territory.
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Hong KongPartialNo capital gains tax; trading profits fall under profits tax; CARF reporting planned from 2027
Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026
Would add digital assets, including HKD stablecoins, to the qualifying investments of the tax-exempt regimes for funds and single family offices. Gazetted 12 June 2026; not yet passed.
Read the originalInland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026
Gazetted 22 May 2026 and given its first reading on 3 June 2026; would require crypto-asset service providers to register with the IRD and report user transactions from 1 January 2027. Not yet passed.
Read the originalDepartmental Interpretation and Practice Notes No. 39 (Revised): Profits Tax, Digital Economy, Electronic Commerce and Digital Assets
Explains that gains from digital assets held as trading stock are subject to profits tax while capital gains are not, applying the usual badges of trade.
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KazakhstanPartialMiners pay an electricity-based digital mining fee; other crypto income falls under the general Tax Code
Decree on measures to stimulate and develop the digital asset industry (No. 1347)
Creates a Committee on Digital Assets and Payment Systems at the NBK. Orders a bill on stablecoin payments and crypto custody and the issuance of tokenised government securities by 31 December 2026, an approach to DeFi by 1 November 2026, and a bill by 1 April 2027 exempting individuals from income tax on 2026 to 2028 trades through Kazakh providers. In force from signing.
Read the originalTax Code of the Republic of Kazakhstan
The new Tax Code in force from 1 January 2026, which governs income tax on digital asset gains and the digital mining fee charged on electricity consumed.
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KyrgyzstanPartialTax Code sets a 10% mining tax on power costs; VASPs and miners paid KGS 2.04 billion by late 2025
Development and regulation of the virtual asset market in the Kyrgyz Republic
Records registration of the gold-backed USDKG issue on 31 October 2025, 185 exchange office licences, 13 exchange licences, 10 mining certificates and KGS 2.04 billion of taxes paid.
Read the originalTax Code of the Kyrgyz Republic
Sets the mining tax at 10% of electricity charges, in place of profit tax, VAT and sales tax, and covers the taxation of virtual asset sales and service providers. Current edition of 6 August 2026.
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MalaysiaPartialLHDN guidance: no capital gains tax on crypto, but trading, mining and business gains are taxed as income
Guidelines: Tax Treatment on Digital Currency Transaction (Second Edition)
Explains that gains are taxable only if revenue in nature, judged by the badges of trade, and that digital currency disposals fall outside capital gains tax. It also covers mining, payments received in crypto and airdrops.
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TaiwanPartialNo crypto-specific tax code; gains fall under general income tax rules with little official guidance
VietnamPartial0.1% tax per transfer and 20% corporate tax, but only for trades via licensed providers
Circular 41/2026/TT-BTC on tax declaration, withholding, payment and finalisation in the crypto asset market
Issued and effective 6 April 2026. Licensed providers must withhold and remit tax on customer trades, keep full transaction data and issue electronic tax certificates.
Read the originalCircular 32/2026/TT-BTC on tax policy for crypto asset trading, transfer and business
Issued 27 March 2026. Individuals pay 0.1% on each transfer via a licensed provider, domestic companies pay 20% corporate tax on gains, foreign organisations pay 0.1% of proceeds, and transfers are VAT-exempt.
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CambodiaDevelopingNo crypto-specific tax rules; general tax law applies
JordanDevelopingNo crypto-specific tax rules or guidance yet from Jordan's Income and Sales Tax Department
MongoliaDevelopingNo crypto-specific tax rules; general income and corporate tax laws apply
Frequently Asked Questions on Virtual Asset Service Providers
FRC answers (in Mongolian) on applying for registration, including that share capital must be cash and that capital raised through token offerings must have been taxed.
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OmanDevelopingNo crypto tax rules; a 5% personal income tax on income above OMR 42,000 starts in 2028
Issuance of Personal Income Tax (PIT) Law
Announces Royal Decree No. 56/2025, issued on 22 June 2025, which taxes individuals at 5% on income above OMR 42,000 from 1 January 2028. There is no crypto-specific tax guidance.
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PakistanDevelopingNo crypto-specific tax rules yet; the Finance Ministry says a framework is being designed
PhilippinesDevelopingNo crypto-specific tax rules; general income and business tax principles apply
South KoreaDeveloping22% tax on annual gains above ₩2.5M is legislated but delayed three times; starts January 2027
Income Tax Act (virtual asset income provisions)
Taxes gains from transferring or lending virtual assets as other income at 20% plus 2% local tax above ₩2.5 million a year, effective 1 January 2027 after three postponements.
Read the originalIncome Tax Act amendment to defer the crypto gains tax to 2029 (bill no. 2220914)
Would push the start of crypto gains taxation back two years to 1 January 2029, citing gaps in tracing DeFi and peer-to-peer trades and in cross-border data exchange. Taken up by the Finance and Economic Planning Committee on 29 September 2026.
Read the originalIncome Tax Act amendment to abolish the crypto gains tax (bill no. 2217609)
Would repeal the tax on virtual asset gains due from 1 January 2027, as the financial investment income tax was repealed before it. Taken up by the Finance and Economic Planning Committee on 29 July 2026.
Read the originalOverview of taxation of virtual asset income for residents
The NTS guide to how crypto income will be calculated and filed, including exchange obligations to submit transaction data.
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TurkeyDevelopingNo crypto-specific tax; a 0.03% transaction tax and 10% withholding were dropped in March 2026
Bill including economic provisions submitted to the Grand National Assembly (crypto asset transaction tax)
Describes the proposed 0.03% crypto asset transaction tax and income tax on crypto gains. Parliament withdrew the crypto tax articles in late March 2026, and the bill was enacted as Law No. 7577 (Official Gazette No. 33227, 17 April 2026) without them, so no crypto-specific tax is in force.
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TurkmenistanDevelopingNo crypto-specific tax rules; the Law on Virtual Assets is silent on taxation
ChinaRestrictedNo crypto-specific tax guidance exists because the underlying activity is illegal onshore
QatarRestrictedNo crypto tax guidance because the activity is barred; salaries are untaxed and business profits pay 10%
Law No. (24) of 2018 Promulgating the Income Tax Law
Qatar's income tax law: a 10% rate on taxable business income and no tax on salaries. It contains no crypto-specific provisions.
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Cayman Islands
Bermuda
British Virgin Islands
Kazakhstan
Kyrgyzstan
Taiwan
Cambodia
Jordan
Mongolia
Oman
Pakistan
Philippines
Turkey
Turkmenistan
China
Qatar