The Binance platform has announced the launch in France of Binance Tax, a free tool to help calculate taxes on Bitcoin (BTC) and crypto transactions.
Indeed, offered in beta and only to French and Canadian customers, Binance Tax should be deployed in other countries soon. The number 1 cryptocurrency exchange specifies that the software does not yet cover all types of transactions.
By making this crypto tax calculator tool available, Binance also allows its Binance Tax users to stay up to date with the tax obligations related to Bitcoin and taxable cryptocurrency transactions. Binance explained:
“Tax season is a dreaded time of year for many. For day traders, who process thousands of transactions each year, it means putting in long hours and stress to ensure their returns are accurate. With one click, you can now import your Binance trades into our calculator and get a simple yet comprehensive estimate of your tax liability.
Binance Tax could also drive new customer sign-ups who will appreciate the ability to use this simple calculator built into the platform that is not available on competing crypto exchanges.