What taxes do I have to pay when I use Proptee?

While we cannot advise you about your personal situation (or about taxes in general), in this article we give you a starting point so you can do your own research.

When you're not sure, you should probably ask a tax advisor.

What am I buying/selling?

The listings on Proptee are fungible tokens backed by NFTs.

What kind of tax do I have to pay?

This very much depends on your country.

The general approach we have seen countries adopt is that:

  • When you buy and then sell a token, you need to pay tax on the profits. Usually, these profits are taxed like property; for example, in the UK and USA you would need to pay capital gains tax.

  • When you receive a token for free, you need to pay tax on its entire value. This applies for mining, staking, etc. In the UK and USA, this would be taxed like income.

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