Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Bitcoin and tax in your countries
by
ashler
on 05/01/2021, 00:39:28 UTC
⭐ Merited by malevolent (2)
Slovakia must be one of the highest taxes in the world for crypto. It works like this:

- If your yearly income is up to EUR 36,000 then you pay 19% on your crypto profits
- If your yearly income is greater than the above, you pay 25% on your crypto profits.

ON TOP OF THE ABOVE, you pay 14% from the remaining money on health insurance (don't ask my why).

Example: you bought 10 BTC for 1,000 EUR each and you sell all of them for 25,000 EUR - therefore you have a profit of 240,000 EUR. This means you will pay:

25% of 240,000 = 60,000 EUR (tax)
14% of 180,000 = 25,200 EUR (health insurance)
Total paid in 'health insurance' and taxes: 85,200 EUR
Final profit: 154,800 EUR

Is there any worst country than Slovakia when it comes to crypto taxation? Sad

https://translate.google.com/translate?sl=sk&tl=en&u=https://www.mojedane.sk/kryptomeny_danove_priznanie/