Slovakian parliament passes bill lowering crypto taxes

Slovakian parliament passes bill lowering crypto taxes
фото показано с : invezz.com

2023-6-29 16:16

The Slovakian parliament has approved a bill seeking to lower to lower taxes on cryptocurrency income, according to local reports.

An amendment to the law passed 112-2 in favour at the third reading. With this approval, a 7% tax rate will apply on gains from sales of crypto held for a year. Per local media, the tax is much lower than the usual sliding income tax rate of 19% or 25%.

Crypto payments to 2,400 euros exempt

The National Council’s vote on June 28 also brings into law other benefits to crypto users, including the fact that crypto income is now exempt from the country’s 14% health tax. Also, crypto payments of up to 2,400 euros ($2,624) will also be exempt from taxation. This could be a big win for crypto users in the country.

Elsewhere, Slovakia is looking to expand the scope of investors allowed to invest in alternative investment funds. The number of assets qualified investors can hold in such funds are also set to rise, with these earmarked for increase from 20% to 30%.

Reports also reveal the impact of this to be to the tune of 30 million euros per year, estimates given by the country’s Ministry of Finance.  

Slovakia’s move comes ahead of the anticipated roll out of a European Union crypto regulatory framework, the Markets in Crypto Assets (MiCA). The EU officially adopted the regulations in May, setting into motion a timeline towards their effective application in law in 2024. MiCA will offer a comprehensive crypto regulation framework across EU member states.

Japan recently moved to ease its crypto taxation rules for token issuers as part of promoting the crypto and fintech industry in the country. The revision to earlier regulation means Japanese-based token issuers are exempted from the fixed 30% corporate tax levied on holdings (unrealized gains), blockchain news reporter Colin Wu tweeted.

Japan’s National Tax Agency has announced that unrealized gains from cryptocurrencies issued by companies themselves will no longer be taxed in order to make it easier for cryptocurrency-related companies to do business in Japan. Under current Japanese law, if a company holds…

— Wu Blockchain (@WuBlockchain) June 25, 2023

The post Slovakian parliament passes bill lowering crypto taxes appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Colu Local Network (CLN) на Currencies.ru

$ 0 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: 9.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0194908 (-100%)

taxes bill parliament lower slovakian passed law

taxes bill → Результатов: 63


New Congressional Bill Seeks To Exempt Small Crypto Transactions From Taxes

A Congressional bill seeking to exempt daily crypto purchases and transactions from capital gains taxation has been returned to the US Congress. The bill known as “The Virtual Currency Tax Fairness Act of 2020,” seeks to exempt digital currency expenditures that are personal transactions from capital gains taxation. Users will not be required to report […]

2020-1-17 00:18


New Hampshire Lawmakers to Allow Residents Pay Tax with Bitcoin and Cryptocurrency

A newly put forward cryptocurrency law in New Hampshire is getting some considerable progress. The law will give the people living in the state the opportunity to pay taxes using cryptocurrency. The bill recently scaled its initial reading as it was passed unanimously by a subcommittee on the House Executive Departments and Administration Committee. House […]

2019-2-9 17:48


Фото:

New Hampshire Closer to Accept Bitcoin for Taxes as Subcommittee Votes Yes

The state of New Hampshire has moved one step closer to accepting Bitcoin for tax payments. The state’s House Subcommittee has unanimously approved Bill 470-FN filed January 5th, 2019. New Hampshire House Bill Uninmously Approved Earlier in January, Bitcoinist reported that House bill 470-FN has been filed, seeking the acceptance of cryptocurrencies as payment for taxes, as well as fees by state agencies.

2019-2-4 14:00


Фото:

Elections Canada Consults With Political Parties on Crypto Donations

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

2019-1-24 20:28


Wyoming Passes Bill to Secure Banking Relations for Blockchain Companies

The state of Wyoming has passed a blockchain bill that allows banks to provide banking services to blockchain companies in the state. According to the legislative document, the new bill would create a new banking category called the Special Purpose Depository Bank, a group of financial institutions in the state that provide banking services to blockchain-based businesses.

2018-12-3 19:48


Фото:

Student Turns $5K into $800K Trading Crypto, But Now Owes $400K in Taxes

One college student turned his $5K investment into $880k but now says trading “ruined” his life as he’s facing $400k in cryptocurrency taxes.   From Big Profits to a Tax Nightmare An anonymous college student recently posted on Reddit to solicit advice about what to do while they face a massive tax bill in the wake of cryptocurrency trading.

2018-11-4 13:00