{"id":42299,"date":"2021-05-12T09:40:16","date_gmt":"2021-05-12T06:40:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42299"},"modified":"2025-08-30T22:36:48","modified_gmt":"2025-08-30T19:36:48","slug":"hungary-to-halve-tax-on-crypto-trading-profits","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hungary-to-halve-tax-on-crypto-trading-profits\/","title":{"rendered":"Hungary to halve tax on crypto trading profits"},"content":{"rendered":"<p>The tax rate on profits from cryptocurrency transactions in Hungary will be 15% from the current 30.5% as part of a GDP-stimulus program. Such proposals <a href=\\\"https:\/\/www.facebook.com\/watch\/?v=296291891985402\\\">were presented<\/a> by economy minister Mih\u00e1ly Varga.<\/p>\n<p>\\n\\n<\/p>\n<p>According to the official, if the initiative is approved Hungary would become a more competitive jurisdiction for crypto traders. This would attract additional investment and help to overcome the negative consequences of the COVID-19 pandemic more quickly.<\/p>\n<p>\\n\\n<\/p>\n<p>As of writing, the sale of cryptocurrency by individuals under the tax code falls under the &#8216;other income&#8217; category. The 30.5% rate <a href=\\\"https:\/\/cointelegraph.com\/news\/hungary-plans-bitcoin-tax-cut-as-part-of-economic-recovery-program\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">is formed<\/a> from personal income tax and social contributions.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier ForkLog reported the authorities of <a href=\"https:\/\/forklog.com\/en\/news\/opinion-sars-to-top-up-the-budget-through-crypto-traders\">South Africa<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/india-justifies-taxes-on-cryptocurrency-holders\">India<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/indonesia-to-discuss-introducing-tax-on-cryptocurrency-profits\">Indo<\/a><a href=\"https:\/\/forklog.com\/en\/news\/indonesia-to-discuss-introducing-tax-on-cryptocurrency-profits\">n<\/a><a href=\"https:\/\/forklog.com\/en\/news\/indonesia-to-discuss-introducing-tax-on-cryptocurrency-profits\">esia<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/south-korea-to-impose-capital-gains-tax-on-cryptocurrency-trades-from-2022\">South Korea<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/in-israel-cryptocurrency-holders-ordered-to-disclose-assets\">Israel<\/a> were interested in increasing budget revenues from holders of digital currencies.<\/p>\n<p>\\n\\n<\/p>\n<p>As reported, by the end of 2021 the <span data-descr=\\\"Organisation for Economic Co-operation and Development\\\" class=\\\"old_tooltip\\\">OECD<\/span> plans to develop <a href=\"https:\/\/forklog.com\/en\/news\/oecd-to-develop-international-tax-standards-for-cryptocurrencies\">a unified standard for exchanging tax information for crypto assets<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tax rate on profits from cryptocurrency transactions in Hungary will be 15%, down from the current 30.5%, as part of a GDP-stimulus program. The proposals were presented by economy minister Mih\u00e1ly Varga.<\/p>\n","protected":false},"author":1,"featured_media":42300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1980,558],"class_list":["post-42299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hungary","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42299"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42299\/revisions"}],"predecessor-version":[{"id":42301,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42299\/revisions\/42301"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42300"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}