General Principle
In most jurisdictions, purchasing BMIC with fiat currency (no crypto-to-crypto swap) is not immediately taxable. Purchasing BMIC with ETH or USDT is a disposal of the ETH/USDT — triggering capital gains tax on the disposed asset. Receiving tokens at TGE may constitute income at fair market value in some jurisdictions.
Country Summary
UK (HMRC): CGT applies to crypto disposals. Buying BMIC with ETH triggers CGT on ETH. Selling BMIC post-TGE triggers another CGT event. Annual exemption applies.
USA (IRS): Buying BMIC with ETH is a taxable disposal of ETH. TGE token receipt may be ordinary income. Selling BMIC post-TGE is a capital disposal. Consult a US crypto CPA.
Ireland (Revenue): 33% CGT on crypto gains. Annual €1,270 exemption. Keep full records. Consult an Irish accountant.
Australia (ATO): CGT applies. 50% discount for assets held 12+ months. Use ATO-compliant reporting tools.
Canada (CRA): 50% of capital gains included in taxable income. Crypto is property for tax purposes.
Germany: Generally tax-free for assets held 12+ months by private individuals. Consult a German Steuerberater.
France: 30% flat tax (PFU) on crypto gains. Consult a French tax advisor.
This summary is for general information only. Always consult a qualified tax advisor in your jurisdiction. ⚠️ DYOR. Not financial advice. Crypto investments carry significant risk.