The cryptocurrency market has also caught Romanians`s attention, who started developing an appetite for such investments in virtual currency.

However, we should always keep in mind that we talk about unregulated instruments with high volatility (from zero to infinity, we could say). One can get rich overnight, and the next day you may lose a lot.

However, with the growing popularity of cryptocurrency transactions, a new question arises: what taxes do I have to pay.

Ever since 2019, with the amendment of the Fiscal Code, the gains obtained from the transfer of virtual currency are included in the category of „income from other sources”, whose taxable quota is 10% of the positive difference between the sale price and the purchase price.

Taxpayers who obtain these profits are required to file a single income tax declaration by May 25 of the year following the year in which the income was earned.

What are the risks in case of failing to comply with the obligation to declare earnings and pay taxes? You are invitesd to find out in the article below. Thank you, Revista Biz, for the opportunity to discuss about this topic that gains ground in our country as well.

Source: https://www.linkedin.com/feed/update/urn:li:activity:6921835640913293312