Peace against taxes – Some legislators of theEuropean Union are sometimes totally freewheel in terms of regulation crypto-assets, even if it means risk destroying the entire sector in Europe. Although a member of the EU, theAustria seems to have a much more approach ” practice “ (fiscal?) on the issue and would like companies to be able to exploit without unnecessary constraints (but with taxes) the enormous potential of technologies related to cryptocurrencies.
Austrian Chamber of Commerce Helps Companies Embrace Crypto
Between threats to Bitcoin (BTC) and its mining little failures, and a desire for ultra-surveillance of crypto-transactions from the first satoshiit is worrying in the European Union to link your company to activities on decentralized blockchains.
But maybe not everywhere in the EU… Indeed, according to a recent report published by Cointelegraph, theAustria could turn out to be a Safe Haven (paying) for cryptos in the middle of this regulatory hell.
Some administrations, such as the Chamber of Commerce Austrian, thus helping companies in the country to determine if blockchain technology can help them in their growth and/or operation. The latter has even set up a work group devoted to the various fields of application of distributed ledger technology (DLT).
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Austrian Bankers Experiment with Crypto-Driven Innovation
On the side of banking institutions traditional, Austria also stands out. Thus, the second largest bank in the country, the Raiffeisen Bankis experimenting with his own project of stablecoin indexed in euros, since the fall of 2020.
Likewise, the austrian central bank – the Oesterreichische Nationalbank (OeNB) – conducts its own experiments with blockchain technology. Since last year, the OeNB has been carrying out a project on issuing federal bonds through the issuance ofdigital euros. This research work is called Delivery vs. Payment Hybrid Initiative (DELPHI).
All the “benevolence” of the Austrian state and institutions for these technologies has a good reason: since this 1st of March 2022, the income from crypto-assets are subject to a juicy 27.5% tax… The wallet has its reasons that reason ignores.
This makes it easier to understand that Austria wants more legal clarity on crypto-assets, when such a large percentage of the financial windfall of this innovative sector goes into the coffers of the State. But at least, as we have seen, the country promotes adoption digital assets and their technologies. Let’s remember thatin France, taxation on crypto capital gains is even 30% (who said “for not much in return”? It’s not good to criticize).
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