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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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.