Austria Wants to Introduce a New Crypto Tax

Austria plans to introduce a 27.5% tax on capital gains on digital asset transactions from March 2022.

According to Bloomberg, the country’s government intends to create a level playing field for investors in various assets.

The Austrian Ministry of Finance noted that they took this step to reduce the level of mistrust in new technologies.

Digital assets purchased before tax effective will not be taxable at the time of sale. In addition, you will not need to pay this tax if you convert one digital asset to another.

Investors can also receive compensation based on potential losses when selling digital assets.

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