Hungary plans Bitcoin tax cut as part of economic recovery program
Lawmakers are reportedly planning to cut taxes on Bitcoin gains in half, possibly as early as 2022. Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the Covid-19 pandemic.In a video that appeared on Facebook Tuesday, Finance minister Mihály Varga outlined his government’s stimulus program through 2022. As part of the post-Covid-19 relief efforts, lawmakers are considering reducing taxes on cryptocurrency trading to 15% of income, down from the current rate of 30.5%. Such....
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The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary Hungarians now pay 30.5% on profits made from cryptocurrency transactions, but their government wants to reduce the tax rate to 15%. The primary goal is to minimize tax evasion, but the lower tax rate could also attract more crypto traders....
Industry associations from Hungary and Thailand plan to cooperate on implementing blockchain technologies in the financial services sector. The two sides hope to share experience and produce ideas for alternative services as part of their new partnership. Thailand and Hungary Announce Blockchain Pact During Bilateral Fintech Forum The Thai Fintech Association and Hungary’s Blockchain Coalition have signed a Memorandum of Understanding to support the introduction of new technologies to their financial markets. The agreement was inked during the first edition of the “Thai-Hungarian Fintech....
Moody’s, the asset quality rating agency, has warned the high rate of inflation that some countries are facing in Latam will affect the economic recovery in the region. Brazil, Chile, and Mexico are said to be the countries more affected by this phenomenon, and their recovery will depend on other factors to attenuate the effects of inflation.
Moody’s States Latam Spending Recovery Might Be Hampered by Inflation
Inflation is becoming a problem in several countries of Latam and the world, putting a dent in the recovery predictions of many countries after the Covid-19....
Blockchain technology has gained traction recently through the advent of cryptocurrency. With the increased popularity of crypto assets, the technology records more applications over time. Recently, Thailand and Hungary have made a pact between their financial technology associations. This new agreement will foster cooperation between the two parties on blockchain technology to facilitate their financial […]
If everything goes as per the plan, Bitcoin will soon be a part of an entrepreneurship education curriculum. Set against the idea of heavily extravagant and narrow-minded banking sector, the aforesaid program - designed by tech startup initiative Youth Business USA - educates young entrepreneurs about the methods to transform their business ideas into profitable ventures without relying much on established creditors. The commendable program includes everything from in-depth training to interest free loans that help aspiring entrepreneurs implement their micro-business models. Youth....