Albania Intends to Introduce Taxes on Cryptocurrencies
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27 June

The Albanian authorities have just announced they intend to introduce taxes on income from crypto investments starting next year.

According to local media, the government has prepared appropriate changes to the legislation. At the moment, they are at the stage of public discussions.

According to the 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."

It should be noted that CBDCs will not fall into this category.

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In addition, the Albanian authorities have proposed to define cryptocurrency mining as an activity that uses computing power to confirm transactions and receive virtual assets in return.

Individuals will be required to pay a capital gains tax of 15%.

At the same time, any income related to crypto transactions or mining received as a result of the business activity will be classified as trading income and will be subject to the corresponding taxes.

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