The Slovak Parliament voted to change the cryptocurrency taxation system. Taxes will be reduced to 7% for digital assets that are held for at least a year. This is much lower than the normal sliding effective income tax rate for Slovak citizens of 19% to 25%.

In addition, by decision of the National Council of Slovakia, cryptocurrency income is exempt from paying the 14% “national health tax.” Payments received in cryptocurrencies up to $2,600 will not be subject to tax.