Transactions with virtual currencies that prove to be profitable are not exempt from tax obligations. Earnings are classified as “income from other sources”, whose taxable quota is 10% of the positive difference between the sale price and the purchase price. In case of non-fulfillment of this payment obligation, there are also risks of a criminal nature, such as tax evasion.
Romania is one of the countries in Europe with the lowest rate of taxation of income from the transfer of virtual currency. On the other hand, France is trying to keep under control the phenomenon of crypto transactions, taxing occasional virtual currency sales with 66% of the profit, while the share for people who are active in this market and usually trade drops to 28%.
Gabriel Albu, Founder Attorney at Albu Legal Law Office, speaks extensively on this topic – from taxes and formalities to risks and regulations in the EU in the article below.