Businessmen and Investors of Hungary pushing to open transactions in cryptocurrency tax breaks, writes Bloomberg.
The government of the country decided to reduce the bid for payments to the budget from the Cryptovaya trade income – from 30.5 to 15 percent. A new income tax will act since 2022. Thus, the National Regulator of Hungary plans to reduce the number of shadow operations with digital assets.
“After this reform, we plan to collect several million dollars of additional tax revenues and increase the transparency of the growing cryptocurrency market of the country, the visibility of transactions for the authorities,” the Minister of Finance of Hungary Mikhai Varga said in his Facebook.
In Russia, cryptocurrency is prohibited for payments. In mid-February, the State Duma approved the draft law on taxation of income from cryptocurrency operations – they will be taxed on income or personal income tax (NDFL).