As we read in w3volution, Binance Tax is a tool that allows users to access the tax details associated with cryptocurrency trading activity. This solution allows you to download a report that shows a tax summary of any gains or losses made with them. The software will be piloted in France before expanding to other markets around the world throughout the year.
Binance Tax was designed following growing customer demand for an easy-to-use tool for finding out your tax obligations on the platform. Users can access a breakdown of trading activity by logging into their Binance account. Once connected, users can select between ‘Realized Capital Gains’, ‘Income Gains’ or ‘Transactions’ and then a downloadable tax report will be generated, summarizing the profit or loss.
The new tool will be free for platform users and will include specific customer location details to facilitate access to tax information that may need to be included in returns.
More information here.