News Explorer — Slovakia Passes Law to Cut Taxes on Crypto Sales

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Jun 29, 12:18 pm

Coindesk

Slovakia Passes Law to Cut Taxes on Crypto Sales

Slovakian lawmakers have voted in favor of a law that aims to reduce taxes on the sale of digital currency. The law intends to simplify the use of virtual currencies in everyday life by cutting the tax burden. The proposed bill suggests taxing income from the sale of virtual currency at a rate of 7% after one year of acquisition, while shorter holding periods would be taxed alongside other income.

Slovakian lawmakers have voted in favor of a law that aims to reduce taxes on the sale of digital currency. The law intends to simplify the use of virtual currencies in everyday life by cutting the tax burden. The proposed bill suggests taxing income from the sale of virtual currency at a rate of 7% after one year of acquisition, while shorter holding periods would be taxed alongside other income.

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