Express

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

Last Update:

Tags: ,,
Link: Hungary Will Cut Cryptocurrency Earning Tax By 50% From 2022   [Copy]
Next:

Related Articles

  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 3 hours ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 1 day ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 4 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 5 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 7 days ago

    • You need to login to comment.