Albania to charge tax rate for crypto transactions and technology-based mining
Albanian Cryptocurrency
Modified Date:- Published Date:-Categories: Cryptocurrency
Albanian regulators recently talked about the crypto future, where everything points towards the implementation of new laws. According to reports, the government wants to levy tax on cryptocurrencies from next year. This is a regulatory measure in the face of the crypto growth the country has experienced in the past months. To curb this growing adoption wave, Albania will follow laws against crypto across the European region. However, neither taxes nor other regulations towards crypto will prevent the technology from becoming available to anyone who wants to take advantage of passive investing or decentralized transactions. Recently various news outlets in Albania reported that the national government administration wants to implement tax rates on crypto by 2023. This will be in line with the Income Tax Act imposed by the highest regulatory authority.
Albania is one of the first countries that has announced plans to tax cryptocurrency. Gjergj Cela from the Ministry of Finance has reported that the government will impose a 100% tax rate on transactions involving digital currencies and technology-based mining activities.