Croatia vs India
Crypto regulation comparison
Croatia
India
Cryptocurrency is legal in Croatia and regulated under the EU's MiCA framework since Croatia joined the eurozone in January 2023. Crypto capital gains are taxed at 10-12% depending on the holding period. HANFA oversees crypto service providers.
India legalized crypto taxation in the 2022 Union Budget, imposing a flat 30% tax on all crypto gains with no deductions for losses. A 1% TDS (Tax Deducted at Source) on crypto transactions above thresholds also applies. The Supreme Court struck down the RBI's 2018 banking ban in 2020, and India is now developing a broader regulatory framework.
Key Points
- Capital gains on crypto taxed at 12% flat rate
- Gains on crypto held over 2 years are tax-exempt
- HANFA regulates VASPs under Croatian and EU law
- MiCA framework fully applicable from 30 December 2024
- Croatia joined the eurozone in January 2023, aligning financial regulation with EU standards
Key Points
- Flat 30% tax on all crypto gains with no loss offset against other income (effective April 2022)
- 1% TDS on crypto transactions above ₹10,000 (₹50,000 for specified persons)
- Supreme Court struck down RBI's 2018 banking circular banning banks from serving crypto firms
- FIU-IND requires VASPs to register and comply with PMLA (Prevention of Money Laundering Act)
- India blocked non-compliant offshore exchanges (Binance, others) in 2024, later some re-registered
Sources
Sources
- Income Tax India - Section 115BBH
- FIU-IND - VASP Registration Circular
- Income Tax India - CBDT Circular 23/2022
- Income Tax India - TDS on VDA Section 194S
- Supreme Court - IAMAI v RBI Judgment (March 2020)
- PIB - FIU-IND Show Cause Notices to Offshore VDA SPs
- Gazette of India - PMLA VDA Notification (March 2023)