Why would binance choose to move to Malta when Malta has a company tax rate of 35%? There are plenty of other countries with lower tax rates.
Why would binance choose to move to Malta when Malta has a company tax rate of 35%? There are plenty of other countries with lower tax rates.
Probably because they have done a tax deal with malta government?
There is other shit to consider, such as government that does not threaten to close your exchange or ban ICOs or declares cryptos illegal every two months or so.
Because no crypto Tax in Malta if your are a tax resident of Malta, basically you have to spend there more than 183 days to pay no tax on crypto trading. https://www.google.co.uk/amp/s/amp.reddit.com/r/Stellar/comments/7o8qtd/malta_no_tax_on_crypto_eu_citizen_after_183_days/
Depends on where the owner of the company lives as to the tax rate. Malta offers rebates and many different kind of company set ups…. As do many places that base their economy on financial services etc.
It’s more about being able to trade any coin without government interference, as is happening in many jurisdictions. When the U. S. government is done you won’t be able to trade a lot of coins on the U. S. ones. And about stability. Lots of places where you can trade all you want, but how many are stable and will remain so?
Malta offers a 30% refund of the tax paid, so effectively the tax is 5%.
There is other shit to consider, such as government that does not threaten to close your exchange or ban ICOs or declares cryptos illegal every two months or so.
There is other shit to consider, such as government that does not threaten to close your exchange or ban ICOs or declares cryptos illegal every two months or so.
All the shady companies move to Malta. Dad but true.