Benin

In Benin, cryptocurrencies are recognized as legal, though they are not considered legal tender. They are generally classified as intangible assets under the country's tax framework, similar to other forms of property like stocks. This means that while crypto activities are permitted, they fall under existing general tax laws rather than dedicated crypto-specific legislation. The Direction Générale des Impôts (DGI) is the primary authority responsible for administering and enforcing tax laws related to cryptocurrencies, operating under the overarching Code Général des Impôts (General Tax Code). When it comes to taxation, individuals are subject to progressive income tax brackets ranging from 0-35% on income derived from crypto activities. Capital gains realized from the sale or exchange of cryptocurrencies are taxed at a flat rate of 15%. This 15% capital gains tax applies regardless of the holding period, as Benin does not offer reduced rates or exemptions for long-term crypto holdings. Corporations engaged in crypto-related businesses pay a standard corporate tax rate of 25% on their income. There is no specific guidance on Value Added Tax (VAT) for crypto, though general VAT rules may apply to related services. For specific crypto activities, the taxation landscape relies on general principles due to a lack of dedicated guidance. Staking rewards are likely taxed as ordinary income upon receipt. Mining operations are treated as business income, individuals face progressive income tax rates (0-35%), while corporate miners pay 25%. Decentralized finance (DeFi) activities lack specific treatment, meaning general capital gains or income rules are typically applied to any yields or profits. Non-fungible tokens (NFTs) are considered intangible assets, and their sale is likely subject to capital gains tax. Both converting crypto to fiat currency and exchanging one cryptocurrency for another are considered taxable events, triggering the 15% capital gains tax on any realized gains.