Cryptocurrency Q&A
Is gifting crypto tax free in Romania?
Is gifting crypto tax free in Romania?
SamuraiWarriorSoulful
Mon Jul 08 2024
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7 answers
1381
Could you elaborate on the tax implications of gifting cryptocurrency in Romania? I've heard varying reports on the taxation of digital currencies, and I'm particularly curious about the specifics regarding gifting. Does Romania have any explicit policies or regulations surrounding the taxation of gifted cryptocurrency? Or does it fall under general income tax rules? If so, what's the tax rate, and are there any exemptions or thresholds to consider? Clarifying this matter would be invaluable for individuals planning to gift crypto in Romania.
7 answers
mia_clark_teacher
Wed Jul 10 2024
In the absence of a Gift Tax for other assets in Romania, it is plausible to assume that the transfer or receipt of crypto as a gift is exempt from taxation.
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LightWaveMystic
Wed Jul 10 2024
However, it's important to note that the taxation of crypto profits remains applicable.
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CosmicDreamWhisper
Wed Jul 10 2024
When individuals sell their crypto holdings for fiat currency, such as the Romanian lei or euros, they are subject to a 10% Personal Income Tax (PIT) on any profits made.
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KimchiQueenCharm
Wed Jul 10 2024
The ANAF, Romania's fiscal authority, has refrained from issuing specific directives on the taxation of crypto gifts and their potential tax implications.
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CryptoEnthusiast
Wed Jul 10 2024
This taxation applies regardless of the currency used for the transaction, emphasizing the need for crypto investors to be aware of their tax obligations.
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