The digital assets tax compliance and portfolio tracking firm’s launch in India comes after the country announced a series of measures to benefit off the gains made in cryptocurrencies.
See related article: India tax breaks crypto’s back
- Crypto users in India can use CoinTracker to aggregate and reconcile cryptocurrency and non-fungible token (NFT) activity across multiple exchanges and wallets, the company said in a statement.
- Users in India can track capital gains, generate tax reports, and view real-time tax bill estimates on the company’s website, CoinTracker said.
- This is the company’s first international product launch in almost four years, the statement said.
- India imposed a 30% taxon all crypto income from April 1, and a 1% levy on transactions exceeding INR10,000 (about US$129 at current exchange rates) is scheduled to come into effect on July 1.
- The government is also considering a factory-gates tax on Indian crypto investors using foreign exchanges, a local media report said, citing unnamed sources.
See related article: India GST Council weighs 28% tax on crypto transactions