Slovakia's parliament approved a bill to reduce taxes on income from the sale of crypto-assets


Members of Slovakia's National Council voted in favour of a bill aimed at reducing taxes related to profits from the sale of crypto-assets.

In particular, the parliament approved on third reading a change regarding a tax rate of 7% on profits from cryptocurrency held in individual accounts during the year; this is significantly lower than the usual income tax rate, which ranges from 19% and up to 25% for Slovakian citizens. 

Moreover, the new law exempts citizens from paying a 14% "country health tax" on cryptocurrency income and also waives taxation for payments of less than €2,400 ($2,624).

This follows Japan's decision to amend its cryptocurrency law, under which companies and owners of digital assets will now not have to pay a 30% tax on unrealised profits.

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