Exciting news from Slovakia! đžđ°
#Slovakian has just passed a groundbreaking bill that will make #crypto investments even more appealing!
Here's what you need to know about the new law, effective from January 1st, 2024:
â Holding crypto for over a year? You'll only pay a 7% tax!
đ° This reduced tax rate is a significant decrease from the previous 39%, making long-term crypto investments much more attractive. $BTC
â Crypto to #CryptoExchanges are now non-taxable!
đ That means you can trade your cryptocurrencies without worrying about additional tax burdens.
â Crypto to stablecoin exchanges are taxable.
đ± While exchanging cryptocurrencies for stablecoins will incur taxes, it's important to note that the reduced 7% rate still applies.
â Buying goods worth up to âŹ2400 per year is tax-free!
đïž This means you can enjoy your crypto earnings by purchasing goods within this tax-free threshold.
â Staking rewards will be taxed when sold for fiat or stablecoin.
đž If you earn staking rewards and decide to convert them to fiat currency or stablecoins, they will be subject to taxation.
With these exciting changes, Slovakia aims to foster a more favorable environment for crypto investors and encourage innovation in the digital asset space. Don't miss out on the opportunity to benefit from these advantageous tax regulations and explore the world of cryptocurrencies in Slovakia!
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