Bangladesh

In Bangladesh, all cryptocurrency activities are explicitly banned. This means that holding, trading, staking, mining, or engaging in any crypto-related operations is illegal, enforced under existing laws primarily related to foreign exchange, anti-money laundering, and anti-terrorism. Cryptocurrencies are not recognized as legal tender, property, or financial instruments, and authorities actively prosecute violations. Despite the prohibition, the National Board of Revenue (NBR) is the body responsible for tax administration. The NBR applies general Income Tax Ordinance provisions to crypto-related income or gains if they are discovered, even in the absence of a specific crypto tax framework. For individuals, income derived from discovered crypto activities is subject to progressive tax slabs ranging from 0% to 30%, typically treated as undisclosed income, potentially incurring penalties. Capital gains, if assessed and detected, face a flat 15% rate. There is no distinction between short-term and long-term gains, and no specific holding period benefits are offered. Corporations found to be generating income from crypto would be subject to the standard corporate tax rate of 27.5%. Value Added Tax (VAT) is not applicable to cryptocurrency due to its banned status. Specific crypto activities like staking, mining, and DeFi are all prohibited. However, any rewards or gains generated from these activities are considered taxable income under the general progressive slabs if detected. Non-fungible tokens (NFTs) also fall under the general crypto prohibition and are treated as illegal assets. Both converting crypto to fiat currency and swapping one crypto for another are illegal activities, but any gains realized from such transactions are considered taxable undisclosed income if discovered by authorities.