Slovakia significantly lowers tax on crypto to 7%

Slovak parliament has accepted a new law lowering tax rate for the profit from cryptocurrency sales to 7% on 28th of June 2023. Until now the profits were taxed by a rate of 36-39% (together with variable health insurance fees).

Source from local news (sorry only in slovak):

https://e.dennikn.sk/minuta/3447018

Parliament vote (again only in slovak):

https://www.nrsr.sk/web/Default.aspx?sid=schodze/hlasovanie/hlasklub&ID=50749

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46 thoughts on “Slovakia significantly lowers tax on crypto to 7%”

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  3. I remember one time when me and my buddies used to dream of a world where crypto is untaxed and DECENTRALISED.. now we discussing crypto tax brackets .. smh

  6. USA would follow this tax reduction and will lower taxes on corporations and the oligarchs

  8. It is a healthier rate, the countries which have %30 and over love robbing their own citizens.

  10. 2 years of waiting because 39%,now finally 7%,my BTC is older than year.from 2024 will be possible day trading,more easier.

  14. I would have loved this so much! Holding for much lower long term taxes screwed me in 2021, where short term taxes would have meant losing the majority of my gains

  23. Now hold on your celebrations. This is a bit clickbaity. They reduced the base tax from 20 to 7 but you still have to pay social/health deduction from profits which still makes it in 25-%30% range

    EDIT: Actually I might be wrong and the healthcare deduction might be forgiven too

  25. Lots of countries passing really positive laws and normatives for crypto. Japan for example forbade unrealized gains taxes for crypto a few days ago.

  26. Awesome news, i just decided that after the next bull im moving to slovakia for a couple months👀

  28. Thats fucking crazy, mine got fucking 40%.. Taxes like these would drive adoption to next level rather than fucking 40%

  30. Better than high tax, but if they could afford to operate without crypto and it costs them nothing as they have nothing to do with it… how do they justify taxing it at all? Especially when there’s no available infrastructure to use it as currency in most places

  31. How the hell did health insurance fees come into selling cryptos? They clearly also acknowledge it’s property, surely you don’t also pay health insurance fee when you sell your car? Hopefully this might somehow make an impulse for our czech politicians to lower it, would be nice lol. Good for our Slovak (crypto)brothers.

    Btw, the article only talks about 7 % after a year of holding, what about before that?

    Edit: found another article which answers my questions I guess, they used to count it as normal income (which is weird, is selling a car (another property) included in normal income taxes?). And before holding for 1 year, it will still be classified as normal income but without health insurance fee.

    https://www.finreport.sk/fintech/poslanci-rozhodli-zisky-z-predaja-kryptomien-sa-po-novom-budu-zdanovat-miernejsie/ (in SK)

  35. This is the way.

    Also this is the way how Slovaks will economically overthrow Czechs. And it might be a great country that gives refuge to digital nomads and residents. Win win win for everybody

  39. This was honestly a shock. We vasically went from taxes? Crypto? Never heard of em, to 7%. This made my week.

  40. Love to see it. Something is cooking ya’ll. They are slowing changing their tune.

  41. congrats guys ….this waiting paid us ..may many country do same as solvakia do.

  42. Also remember that taxes are voluntary since the advent of privacycoins. Governments need to adapt their tone to get taxes from those who feel like to pay them.

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