Authorities in Albania aim to introduce taxation on income from cryptocurrency investments from 2023.
Local media report that the government has prepared amendments to the legislation. They are at the public-consultation stage.
Under the proposed changes, virtual assets are defined as “a digital representation of value that can be deposited, sold or transferred digitally and used for payments, investments, or as a medium of exchange.” This category will not include CBDC.
The Albanian authorities also proposed defining mining as an activity that uses computing power to confirm transactions in exchange for virtual assets.
Individuals would be required to pay a 15% capital gains tax. At the same time, any income from cryptocurrency transactions or mining earned through business activity will be classified as business income and taxed accordingly.
The regulatory norms are planned to be adopted this year.
Earlier reports said that the European Parliament, the European Commission and the Council of the EU would hold a final meeting on the issues surrounding the cryptocurrency regulation bill on June 30.
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