Binance has launched a free tax calculation and reporting service, Binance Tax. According to the statement, the platform allows you to “one-click” import your transactions on the exchange into a calculator to estimate potential tax payments.
The company noted that Binance Tax is in the early stages of launch and does not yet support all types of transactions. Transactions involving a number of products such as futures and NFT are not available for processing. The team acknowledged that this will require users to manually adjust tax reports in the near future.
Binance Tax allows 100,000 transactions to be uploaded to the calculator at no additional cost. According to the developers, this amount is sufficient “even for fairly active traders”.
The service is initially available to exchange customers in Canada and France. The team says it is “making every effort to implement support for more regions, networks and wallets”.
