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Hungary Will Cut Cryptocurrency Earning Tax By 50% From 2022

Summary: Hungary is hungry for cryptocurrencies. Hungarian Finance Minister Mihály Varga announced on Tuesday that its country will cut the tax on cryptocurrency earnings by 50% from 2022, aiming to boost the economy through tax policies. At present, any gains obtained through crypto transactions are classified as "other gains", there is no tax on cryptocurrency-to-crypto transactions, ...

Hungary is hungry for cryptocurrencies.

Hungarian Finance Minister Mihály Varga announced on Tuesday that its country will cut the tax on cryptocurrency earnings by 50% from 2022, aiming to boost the economy through tax policies.

At present, any gains obtained through crypto transactions are classified as "other gains", there is no tax on cryptocurrency-to-crypto transactions, and any gains gained through the sale or exchange of virtual currencies are regarded as "taxable events."

By Mary Liu

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