The Albanian authorities intend to introduce taxation on income from investments in cryptos from 2023.
According to local media, the government has prepared appropriate changes to the legislation. At this stage, they are at the stage of public discussions.
Under the proposed changes, virtual assets are defined as "a digital representation of value that can be deposited, sold or digitally transferred and used for payment, investment, or as a medium of exchange." CBDCs will not fall into this category.
Also, the Albanian authorities proposed to define mining as an activity that uses computing power to confirm transactions and receive virtual assets in exchange.
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Individuals will be required to pay a capital gains tax of 15%. At the same time, any income from cryptocurrency transactions or mining received as a result of entrepreneurial activity will be classified as business income and subject to appropriate taxes.
It is planned to adopt the developed regulatory norms this year.
Earlier it was reported that the European Parliament, the European Commission, and the Council of the EU will hold a final meeting on the bill on the regulation of cryptocurrencies on June 30.