The Romanian Parliament has adopted amendments to the Tax Code on temporary amnesty for crypto investors. The amendments should exempt from taxation income earned by individuals investing in cryptocurrencies. The amnesty is valid until July 31, 2025.
The authors of the amendment to the Tax Code stated that the measure would be beneficial to the state, which would be able to assess the real scale of the digital asset market, and would also allow flooding the Romanian credit and financial market with funds from the sale of crypto assets.
"There are between 500,000 and 600,000 crypto investors in Romania, and they could bring money into the real economy — at this difficult time for the country. Thanks to the temporary measure, owners of digital assets will be able to generate additional cash flow in the economy," the explanatory note to the bill says.
In accordance with the provisions of current Romanian legislation, private crypto investors are required to pay 10% income tax on any capital gains or any additional income from investments in cryptocurrency if the total income for the financial year exceeded 600 lei ($128).
The National Agency for Tax Administration (ANAF) believes that the period of the tax amnesty may be the right time for Romanian investors with significant reserves of cryptocurrency to sell assets and make a large tax-free profit. With the entry into force of the rules of the European regulation of the MiCA crypto market, the relevant legal obligations will become enforceable in the jurisdiction of Romania, the officials explained.
A year earlier, Romanian law enforcement agencies conducted dozens of searches of crypto traders suspected of hiding income from cryptocurrency transactions and tax evasion.