In 2022, only 0.53% of crypto investors worldwide paid taxes on their crypto, according to a report by Swedish crypto tax company Divly. The methodology of the report consisted of analyzing the number of individuals who declared cryptocurrency on their tax returns and the volume of searches for crypto-related tax keywords in various countries. The number of cryptocurrency holders in each country was also considered.

According to the report, Finland had the highest proportion of crypto investors who paid the required taxes on crypto in 2022 at 4.09 percent, followed by Australia at 3.65 percent. The United States placed tenth on the list, with an estimated 1.62 percent of cryptocurrency holders paying taxes. The Philippines had one of the lowest rates of tax-paying cryptocurrency investors, with an estimated 0.03% of cryptocurrency holders having paid taxes.

However, tax specialists have cast doubt on the report’s figures and methodology. The veracity of the report’s findings is questionable, and some experts have speculated that the actual number of crypto investors who pay taxes could be considerably higher.

Report Highlights Need for Clear Crypto Tax Guidelines and Regulations

In recent years, crypto taxation has been a fiercely debated topic, with many nations struggling to develop clear guidelines and regulations for taxing cryptocurrencies. As the crypto market continues to expand, the issue of taxation is likely to become more pressing, as governments seek to ensure that they can collect taxes on crypto investment profits.

The Divly report emphasizes the need for greater clarity and uniformity in crypto tax regulations across nations. As the cryptocurrency market continues to evolve, it is crucial that governments and tax authorities collaborate to develop clear guidelines and regulations that will help to ensure a fair and transparent tax system for all.