- Taxes shall be lowered to 7% from the present sliding scale of 19% or 25%.
- As well as, cryptocurrency funds as much as 2400 euros won’t be taxed.
- Slovakia is likely one of the 27 member states of the European Union that not too long ago adopted MiCA.
The Slovak parliament voted on June 28 to approve a change that can cut back private earnings tax for positive aspects from the sale of cryptocurrencies that the consumer has held for no less than one yr. Click on right here to study extra about how you can commerce cryptocurrencies.
Taxes shall be lowered from the present sliding scale of 19% or 25% to 7%, a major discount. Cryptocurrency funds as much as 2,400 euros, or roughly $2,622.20, won’t be taxed.
Extra tax exemptions for crypto customers in Slovakia
Moreover, the handed invoice exempts cryptocurrency earnings from a 14% medical health insurance contribution.
An area Slovak media reported that the Ministry of Finance estimates the modification can have a monetary influence of round 30 million euros per yr. A couple of weeks in the past, Parliament authorised one other constitutional modification which codified the proper of residents to make use of money as a way of fee in mild of the dialogue round a digital euro.
Slovakia is likely one of the 27 nations that make up the European Union, which is actively engaged on the regulation of the cryptocurrency market. On Might 31, the EU adopted its historic Crypto-Asset Markets (MiCA) rules, as beforehand reported right here. The principles have been drawn up with the goal of constructing Europe a hub for digital asset buying and selling.
