Latvia may allow personal tax payments in crypto as early as next year

Latvia may allow individuals to pay taxes in cryptocurrency as early as next year, CoinDesk reported. Technical work is under way with payment service providers, although the government has not disclosed which cryptocurrencies would be accepted or which payment companies are involved.

The move builds on a plan announced in May last year to allow crypto tax payments and tokenize real estate. Latvia’s parliament also passed a bill on Oct. 15 under which taxes would apply to withdrawals from crypto investment accounts only when they exceed deposited amounts.

Source: Coinness