Cryptocurrency taxes are not pleasant for any of us, but it is our duty no matter what state we have citizenship in. As you know, some countries have minimal cryptocurrency taxes and some drastically high taxes. Hungary, however, plans to reduce cryptocurrency taxes from 30.5% to 15% in the near future by more than half. Hungarian Finance Minister Varga Mihály announced this information in yesterday’s video on the economic recovery program, the translation of which was published by the Hungarian daily BitcoinBázis.
As income from cryptocurrencies is currently taken as other income in Hungary, it is subject to 15% income tax and 15.5% social levy to the state. We are constantly writing this in our community on the Telegram and we will write it now as well – pay enough attention to cryptocurrency taxes and solve everything you need with your accountant. In any case, this is great news for citizens and fans of cryptocurrencies in Hungary, and we firmly believe that we will see a similar tax reduction in Slovakia as well.