Romanian Government To Tax Cryptocurrency

By Robin Wong | January 25, 2019

The amended tax law in Romania has required cryptocurrency investors to pay income tax on their earnings including the earnings from buying and selling cryptocurrencies, daily financial newspaper Ziarul Financiar reports (Jan 23).

Accordingly, the investors gaining below 200 Romania Ron (about $50) from any crypto transactions will not be imposed tax. However, the 10 percent income tax will be applied to those earning more than 600 Ron in a year.

“Before this, we had a more cumbersome procedure in which one had to register as a freelancer if he was trading repeatedly. It is now treated as an extraordinary income from other sources.” Adrian Bent, a local tax consultant, said in the Romania daily financial newspaper.

Just this week, Chilean citizens began paying cryptocurrency tax as the government declared cryptocurrency as “other own and/or third-party income from companies that declare their effective income.” In the meantime, Poland has imposed the income tax on crypto revenue this month, and the tax rate will be at a minimum of 19%, depending on investors’ revenue in a year.

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