New research into internet search volumes for crypto tax-related keywords estimates that hardly anyone bothers to pay crypto taxes — but experts aren't convinced about the figures.
Indonesia and Philippines had the lowest rates of tax-paying crypto investors, with just 0.07%, 0.04% and 0.03% respectively.The methodology used to arrive at the estimates is questionable. The report itself qualifies the results by noting that search volume data may not accurately reflect the actual, as not everyone who pays tax searches for crypto tax-related information online.
Danny Talwar, global head of tax at crypto tax software Koinly, disputed the large portion of crypto investors not paying tax that the report suggests. He told Cointelegraph: Chartered Accountant Greg Valles, a board member of Blockchain Australia, also said he would not be able to “say conclusively that the methodology is 100 percent accurate.”
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