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"By 2025, the Number of Tax-Free Cryptocurrency Countries in Europe is Expected to Decrease"

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Minseung Kang
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  • It is reported that the number of tax-free countries for cryptocurrencies in Europe is gradually decreasing.
  • Portugal applies a tax rate of 28% on short-term cryptocurrency gains, and Malta does not tax companies.
  • Germany does not tax individual investors on cryptocurrencies held for more than a year.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

Image = Cointelegraph X CaptureImage = Cointelegraph X Capture

It is reported that the number of tax-free cryptocurrency countries in Europe is expected to decrease this year.

On the 25th, the cryptocurrency specialized media Cointelegraph reported, "The number of tax-free cryptocurrency countries in Europe is gradually decreasing this year."

According to the media, Portugal currently taxes short-term cryptocurrency gains at a rate of 28%, while long-term holdings are exempt from taxes. Malta imposes income tax on cryptocurrency gains but does not tax companies. Germany does not tax individual investors who sell cryptocurrencies after holding them for more than a year. Andorra applies a maximum tax rate of 10% on cryptocurrency gains.

Additionally, Monaco does not impose income tax on cryptocurrency gains. Switzerland imposes low tax rates in some cantons. Estonia taxes individual investors on cryptocurrency gains. Romania imposes a flat tax rate of 10% on cryptocurrency gains. In Slovenia, whether cryptocurrency investments are taxed depends on whether they are considered a hobby or a business.

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minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.