tax

Slovakia approves lower crypto income tax rate

Slovakian lawmakers have passed legislation to regulate and reduce the tax rate on cryptocurrency income. Under the new law, crypto income from assets held for at least a year will be taxed at a favorable rate of 7%, aligning Slovakia…

Slovakian lawmakers have passed legislation to regulate and reduce the tax rate on cryptocurrency income. Under the new law, crypto income from assets held for at least a year will be taxed at a favorable rate of 7%, aligning Slovakia with other crypto-friendly countries such as Slovenia and Switzerland. In a June 28 , Slovakian deputies have approved an amendment that will lower the taxation on cryptocurrencies. The assets held for more than a year are subject to a reduced tax rate of 7%, lower than the standard income tax rate. Additionally, the amendment aims to exempt income from cryptocurrencies from health taxes, with the Ministry of Finance estimating an annual financial impact of around 30 million euros. Notably, the proposal also includes changes regarding investment savings. Further changes are outlined in the amending proposal by Petr Cmorej of SaS, a Slovkian political party. Under these changes, payments made in cryptocurrencies up to 2,400 euros will be exempt from taxation. Furthermore, the maximum limit for long-term investment savings in a calendar year will be doubled, increasing from 3,000 euros to 6,000 euros. These modifications provide additional incentives and opportunities for cryptocurrency adoption and investment in Slovakia. When comparing Slovakia’s announcement…

Via Source

Related Posts

Grace loan advance

The Complete Beginner’s Guide to Grace loan advance

What is Grace Loan Advance? Grace Loan Advance is a financial service that provides short-term loans to individuals in need of immediate funds. The company has gained positive…

cost with insurance

6 Places To Look For A cost with insurance

6 Places To Look For A cost with insurance. Online insurance provider websites When looking for information about the cost of all-on-4 dental implants with insurance coverage, turning…

insurance cover

6 Super Useful Tips To Improve insurance cover

Tips for Understanding Your Insurance Coverage Understanding your insurance coverage is crucial in ensuring you are adequately protected in times of need. It is important to familiarize yourself…

home financing pre approval what you need to know 1

Home Financing Pre Approval : What You Need to Know

Home Financing Pre Approval. If you are planning to buy a home, one of the most important steps you can take is to get pre approved for a…

reeds tax service memphis tn

Reed's Tax Service Memphis Tn

Dukes accounting & tax services has been providing clients personalized tax, bookkeeping, and accounting services throughout the memphis and surrounding areas since 2006. Website directions products more info….

sales tax in cordova tn

Sales Tax In Cordova Tn

The shelby county trustee does not offer tax lien certificates or make over the counter sales. The current total local sales tax rate in cordova, tn is 9.250%….

Leave a Reply

Your email address will not be published. Required fields are marked *