Just now, another European country has made crypto taxes “simpler”: Latvia’s parliament has officially passed a new cryptocurrency tax law 🇱🇻
On October 15, Latvia’s parliament completed the final reading of amendments to the Personal Income Tax Law. There are three key changes:
🔹 No more calculating taxes on every transaction—the system is switching to an “investment account” model: tax is due only when withdrawals exceed total contributions, and only on the excess
🔹 A one-time chance to declare existing holdings: you can make a one-off declaration based on 10% of the market value of your holdings on December 31, 2026. The declared value will then directly serve as the cost basis for future tax calculations
🔹 The supporting government regulations must be issued by December 30, 2026
In addition, an adviser to the prime minister revealed that, as early as 2027, residents may be able to pay their personal taxes directly in cryptocurrency.
I think there are two things worth noting:
1️⃣ “Tax only when you withdraw” is great for people who frequently rebalance: swapping one coin for another or moving funds back and forth won’t require you to record and calculate taxes on every transaction
2️⃣ The one-time declaration window is essentially a compliant way to bring existing holdings that haven’t been declared in the past into the system
Europe’s smaller countries are taking a more practical approach to regulating crypto assets—one that’s easier to implement than imposing uniformly high tax rates.
If your jurisdiction also taxed crypto only when you withdraw, would you be more willing to declare your holdings voluntarily?
#拉脱维亚议会通过加密货币税法 #BTC #ETH
On October 15, Latvia’s parliament completed the final reading of amendments to the Personal Income Tax Law. There are three key changes:
🔹 No more calculating taxes on every transaction—the system is switching to an “investment account” model: tax is due only when withdrawals exceed total contributions, and only on the excess
🔹 A one-time chance to declare existing holdings: you can make a one-off declaration based on 10% of the market value of your holdings on December 31, 2026. The declared value will then directly serve as the cost basis for future tax calculations
🔹 The supporting government regulations must be issued by December 30, 2026
In addition, an adviser to the prime minister revealed that, as early as 2027, residents may be able to pay their personal taxes directly in cryptocurrency.
I think there are two things worth noting:
1️⃣ “Tax only when you withdraw” is great for people who frequently rebalance: swapping one coin for another or moving funds back and forth won’t require you to record and calculate taxes on every transaction
2️⃣ The one-time declaration window is essentially a compliant way to bring existing holdings that haven’t been declared in the past into the system
Europe’s smaller countries are taking a more practical approach to regulating crypto assets—one that’s easier to implement than imposing uniformly high tax rates.
If your jurisdiction also taxed crypto only when you withdraw, would you be more willing to declare your holdings voluntarily?
#拉脱维亚议会通过加密货币税法 #BTC #ETH