The Slovak cryptocurrency tax reduction bill has been passed by the National Council

ChainCatcher news, Slovak lawmakers passed a law on Wednesday aimed at reducing the sales tax on digital currencies with a vote of 112 to 2.

The bill adds, "It is proposed that income be taxed at a rate of 7% when sold after holding virtual currency for one year," while cryptocurrencies held for a shorter period will be listed along with other taxable income. The income tax bill aims to "reduce the tax burden associated with the sale of virtual currencies, thereby simplifying their use in everyday life," (source link)