Slovakian crypto tax-cutting bill approved by national parliament.

Slovakian lawmakers voted 112-2 in favor of a law aimed at reducing taxes on the sale of digital currency. The income tax bill is designed to simplify the use of virtual currencies in everyday life by reducing the tax burden. Virtual currency sales after one year of acquisition would be subject to a 7% tax rate, while shorter holding periods would be treated as taxable income alongside other sources. The bill passed its third reading in the Slovak National Council on June 28, and as an EU member state, Slovakia has the freedom to establish its own tax regulations for cryptocurrencies. Tax incentives, such as those previously offered in Portugal, have played a significant role in attracting the crypto industry, although Portugal reversed its favorable treatment last year. Edited by Stephen Alpher.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Two Bitcoin Cloud Miners Successfully Appeal Extradition in Epic Showdown

The extradition of accused fraudsters Ivan Turogin and Sergei Potapenko from Estonia to the United States has been de...


OpenAI and G42 Forge Partnership to Boost AI in the Middle East

Fashionista will be excited to hear that Sam Altman, CEO of OpenAI, announced a partnership that will bring AI soluti...


How will spot ETFs kick off the next bull market for Bitcoin?

Source Feng & Carol, DFG, the largest market value of cryptocurrency Bitcoin, has been experiencing rapid develop...


After returning to 30,000 US dollars, what changes have occurred in the Bitcoin ecosystem?

BRC-20, ordinal theory and other Bitcoin-based protocols have brought a lot of room for imagination in the developmen...


Contrarian Report: Bitcoin Drops, SEC Rejects BTC ETF Applications - What Happened?

On Wednesday, Bitcoin dropped by almost 10% and fell below $41,000. This may have been influenced by a report from Ma...


Bitcoin ETF mirrors historical gold parallels

Gold ETFs have had a significant impact on markets, and a potential spot bitcoin ETF has the potential to bring about...