If you have invested in cryptocurrencies and you want to take the profit this year, the next article is for you. Below we will present what you have to do really if you have made profits from cryptocurrency.
The profit tax is applied strictly on the profit obtained from cryptocurrency. If you bought bitcoin or other cryptocurrency at the end of last year and you do not want to mark the profit, you do not have to pay a profit tax!
The Parliament adopted last year a law by which Romanians who make profits from Crypto no longer have to pay tax on cryptocurrency.
On November 11, 2024, many Romanians involved in cryptocurrency transactions enthusiastically received the news of the adoption of a law that provides for the tax exemption for the income from cryptocurrency until July 31, 2025.
The Chamber of Deputies, as a decision -making force, has adopted with 158 votes for and 40 against the law of approval of the Government Emergency Ordinance no. 107/2024. This concerns fiscal-budgetary measures related to the management of budgetary debts and the budget deficit for the general consolidated budget of 2024, as well as the modification of some normative acts.
Although initially the Government did not include the provisions related to cryptocurrency in the ordinance, the deputy Sabin Sărmaș managed to introduce an amendment by which the income obtained from the cryptocurrency transactions are exempt from tax until July 31, 2025 inclusive. Sabin Sarmas declares two years ago that he has confidence in those who have invested in cryptocurrencies, more details can be found in the article written by Hotnews.
"By derogation from the provisions of Art. 116 paragraph (2) of Law no. 227/2015 regarding the Fiscal Code, with the subsequent amendments and completions, are exempted from the payment of the income taxes the taxpayers, for the income made from the difference between the investments in virtual currencies purchased for the purpose of the resale and the revenues made in the date and the income,
President Johannis did not promulgate the law but sent it to CCR
On December 5, 2024, the Parliament sent the law to Presidency for promulgation.
On December 20, 2024, the Constitutional Court was notified by President Klaus Iohannis about the unconstitutionality of the law. It is important to note that this complaint does not concern the provision regarding the tax exemption for cryptocurrency revenues, but a fiscal facility granted to the employees of the Baptist Theological Institute, introduced by parliamentarians.
In the notification sent to the Constitutional Court, Klaus Iohannis requests its admission and declaring the law as unconstitutional.
Subsequently, on December 24, 2024, the Constitutional Court asked the Chamber of Deputies to express their point of view on the law until February 4, 2025, considering that the debates within the RCC are scheduled for February 18, 2025.
In reality, what Crypto fees are there and what the targeted citizens have to do?
At the moment the law did not enter into force, so that all those who have obtained profit from the investments in cryptocurrencies must pay a 10%tax. An example would be the following if you bought a bitcoin when it was worth $ 30,000 and you sold when it was worth 90,000 USD, you will have to pay 10% of the profit of 60,000 USD. There are those who made profits from under 600 lei in a fiscal year. Those who have made profits can download Form 212 for submitting the Single Declaration 2025 online. This file can be edited and subsequently climbed the document on the portal of ANAF.
The Abarai recommendations on cryptocurrency taxation
If you are a cryptocurrency owner and you have made a profit, we recommend that you be very diligent about the taxes you have to pay. Do not try to "crack" the Romanian state because you can suffer penalty consequences buy cryptocurrencies on platforms with notoriety such as Abarai . A Romanian exchange that offers telephone support in Romanian. If you want to buy cryptocurrency but you do not have a Wallet you can read the next article that presents in a very simple way how you can make a bitcoin Wallet.
Do not invest in cryptocurrencies if you have not seriously interested in
Many people invest in cryptocurrencies with the thought that they could enrich them overnight. Some of them are influenced by "influences" or people in the cryptocurrency industry that promise huge winnings. More on this topic you can find on the article " The cryptocurrency market: the $ 3 trillion industry that almost no one understands "
If I made swap between cryptocurrencies and made a profit in Crypto pairs. Do I have to pay taxes on Crypto?
No ! If you have changed Ethereum for Bitcoin, that is, you have a swap , you do not have to pay cryptocurrency tax. Crypto fees appear only when you turn cryptocurrencies into faithful currency (lei, USD, EUR etc ..).
The present legislation does not provide for authentication or taxation measures regarding cryptocurrency exchange but only when the exchange is made between cryptocurrency and fiat or vice versa.
If I sold Bitcoin to a bitcoin ATM and I have any cash I still have to pay taxes?
The answer is yes ! The legislation provides to pay taxes for all the earnings that generate profit of over 600 lei in a fiscal year. Although you bought Bitcoin from an ATM and an event you have sold it at a bitcoin ATM, it is your citizen's duty to honestly declare your earnings.
Key aspects of this article! What do you have to retain:
✅ Taxation applies only to the income made, and the new law proposes the exemption until July 31, 2025
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If you do not sell the cryptocurrencies that you deserve and do not collect the profit, you do not have to pay tax .
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On November 11, 2024, the Chamber of Deputies adopted a law that exempts the income from Crypto tax until July 31, 2025 .
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The law is not yet in force , because it was challenged at the Constitutional Court by President Klaus Iohannis.
✅ Crypto fees current in Romania
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10% profit tax from Crypto.
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Excuse for income below 600 lei/year.
✅ Obligation to declare Crypto income
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Profits must be reported by the unique statement (form 212) and submitted to ANAF.
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Even if you have used cryptocurrency ATM, you must declare your income!
✅ Swaps between cryptocurrencies are not taxed
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If you exchange cryptocurrencies (eg BTC → ETH) do not pay tax.
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Crypto taxes are applied only when you convert cryptocurrencies into faithful currency (lei, EUR, USD).
✅ Respecting the legislation is essential
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Avoid declaring Crypto income may have legal consequences.
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It is advisable to use safe and regulated platforms for transactions.
