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https://nordictimes.com/europe/the-czech-republic-exempts-long-term-bitcoin-holdings-from-taxation/

Europe

The Czech Republic exempts long-term Bitcoin holdings from taxation

Published 14 December 2024
– By Editorial Staff
Under the new rules, individuals will be exempt from capital gains tax on digital assets held for at least three years.
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The Czech Republic is introducing a tax exemption for bitcoin held for more than three years. The law, which will come into force in 2025, aims to simplify taxation and strengthen the country’s role in the crypto market.

On December 6, the Czech parliament approved a law that exempts bitcoin and other digital assets from capital gains tax, provided they are held for at least three years.

The law was passed with 169 votes and was almost unanimous. The reform is expected to simplify the taxation of digital assets and promote long-term investment.

Prime Minister Petr Fiala describes the reform as “a modernization”, and believes that the measure strengthens the country’s position in the crypto world. In particular, he highlighted the efforts of the MP and clarified the meaning of the new rules on the X platform:

“We have been pushing for better conditions for cryptocurrencies. Our MEP Jirka Havánek did a great job on this, and has been working intensively on it for 2 years.

There will now be a time test to ensure that if you hold cryptocurrencies for more than three years, their sale will not be taxed. The value test will in turn mean that you will not have to report transactions up to CZK 100,000 per year in your tax return”.

The rules also apply to previous holdings

Under the new rules, individuals will be exempt from capital gains tax on digital assets held for at least three years. Transactions below CZK 100,000 (around €4000) per year will also be exempt from reporting, benefiting both small savers and large investors.

The law will be retroactive, meaning that bitcoin and other digital assets purchased before 2025 can benefit from tax exemption if they are sold under the new rules after the law comes into force. The change aims to create stability and reduce short-term speculation in the market.

– We have taken an important step to allow crypto businesses in the Czech Republic to function and continue to develop, a government representative said at a press conference.

EU rules for the crypto market

In addition to changes for investors, the legislation also includes rules for digital asset companies. Banks in the Czech Republic will no longer be allowed to discriminate against companies working with bitcoin or other cryptocurrencies.

The reform will be harmonized with the upcoming EU regulatory framework, Markets in Crypto-Assets (MiCA), which standardizes the regulation of digital assets across the Union. MiCA will enter into force shortly and is expected to further strengthen the Czech Republic’s role as a leading player in the crypto market.

Despite the progress made, some ambiguities remain in the new law. There are no clear guidelines on how to verify long-term holdings, and digital assets are not defined in the Income Tax Act. Tax experts warn that this could lead to interpretation problems.

Editorial Staff
editorial@nordictimes.com

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https://nordictimes.com/europe/swedish-nato-force-deployed-in-latvia/

Europe

Swedish NATO force deployed in Latvia

Sweden-NATO-relationship

Published today 12:54
– By Editorial Staff
Swedish NATO soldiers land in Riga.
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This weekend, around 550 Swedish soldiers arrived in Latvia’s capital Riga to join NATO’s multinational brigade and reinforce the US-led military alliance’s border with Russia.

– Many of us have worked hard and long for this, and now we are finally here, says Battalion Commander and Lieutenant Colonel Henrik Rosdahl, commenting on Sweden’s first ground deployment as a NATO country.

The brigade is one of eight being built up to be stationed along NATO’s eastern border, with the official aim of “contributing to the Alliance’s deterrence and defense and ensuring stability in the region”.

The Swedish contribution to the initiative consists of the 71st battalion, which will be deployed by the Southern Skåne Regiment P 7.

– I feel a great sense of pride in the task of contributing to collective defense together with our allies. It is a historic day, but at the same time our new normal, says Henrik Rosdahl.

Rotating with Denmark

“The Swedish battalion’s mission in Latvia will last for about six months… After the six months, the Swedish force will rotate home and be replaced by a Danish force in the next six months. In one year, the next Swedish force will arrive in Latvia – again deployed by the Southern Skåne Regiment”, the Swedish Armed Forces wrote in a press release.

Canadian Colonel Cédric Aspirault is leading the international brigade and says the Swedes are “a valuable addition to our combat-ready force”.

– Each nation involved contributes directly to the success of the brigade, demonstrating a united alliance and a will to keep the peace, it said.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/europe/eu-official-we-can-invalidate-the-election-in-germany-if-necessary/

Europe

EU official: We can invalidate the election in Germany – “if necessary”

Totalitarianism

Published 14 January 2025
– By Editorial Staff
Thierry Breton flags that Brussels could annul the German elections - “if necessary”.
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Former EU commissioner Thierry Breton explains that the EU could annul the upcoming elections in Germany in case of suspicion of foreign influence.

– We did it in Romania and, if necessary, we will have to do it in Germany as well, he said.

The statement was made in an interview on the French news program Apolline Matin, focusing on Elon Musk’s platform X (formerly Twitter) and its potential role in the German elections.

Breton, former Commissioner for the Internal Market from 2019 to 2024, referred to the EU’s Digital Services Act (DSA), a law established in 2022 and whose purpose is nominally stated as protecting democracy by regulating digital platforms, fighting disinformation and preventing foreign influence on elections. He stressed that it was his staff who wrote the law, and that the EU is now “equipped” to apply it if necessary.

The law was recently used as a basis to investigate TikTok in the context of Romania’s presidential election, which was annulled following allegations of foreign interference. In recent days, large-scale demonstrations have broken out in Bucharest, with thousands of people protesting against the EU’s actions.

Germany’s elections, to be held next month, have already sparked discussions about the AfD’s success and Elon Musk’s open support for the party via X.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/europe/large-protests-after-annulled-presidential-election-romanians-have-chosen-their-president/

Europe

Large protests after annulled presidential election: “Romanians have chosen their president”

Published 14 January 2025
– By Editorial Staff
Photos from the protests in Bucharest.
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In recent days, large-scale demonstrations have taken place in the Romanian capital Bucharest and other major cities.

The protests, which gathered more than 100,000 participants in Bucharest, target the incumbent President Klaus Iohannis and the current government, which the demonstrators consider illegitimate.

The demonstrations began after Romania’s Constitutional Court annulled the results of the first round of the presidential election, in which Călin Georgescu won with 22.95% of the vote. A second round was to have been held on December 8, 2024 between Georgescu and reformist leader Elena Lasconi, but this was stopped by the court’s decision.

– We are more than a 100,000 Bucharest. Iohannis has to leave, shouted one of the protesters, adding: This usurper of a president, who has elected an illegitimate government, has to leave urgently!

Protesters demand that Călin Georgescu, who won the first round of the presidential elections, be recognized as the legitimate leader of the country.

– Romanians have chosen their president. We have to resume urgently round two of the elections and let the people decide who must lead Romania!

The court’s decision was motivated by suspicions of foreign influence, particularly via social media, which allegedly benefited Georgescu’s campaign. This has been met with strong condemnation from both Georgescu and Lasconi, who say the decision is a threat to democracy.

Parallel protests in Serbia

Meanwhile, demonstrations have taken place in Serbia, where discontent over the government’s handling of a collapsed train station in Novi Sad has led to widespread protests. Some protesters have shown symbolic solidarity with their Romanian neighbors by waving Romanian flags and tearing up EU flags, underlining a regional frustration with political abuse of power.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/europe/landslide-victory-for-eurosceptic-president-in-croatia/

Europe

Landslide victory for Eurosceptic president in Croatia

Published 14 January 2025
– By Editorial Staff
Zoran Milanović re-elected for another term as President of Croatia.
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Zoran Milanović has secured another term as President of Croatia after winning the election with an overwhelming majority. His re-election marks a continued Eurosceptic stance and a clear unwillingness to support Ukraine in its conflict with Russia.

Milanović, who often criticizes EU policies and Western support for Kiev, received a whopping 74.6% of the vote in the election, with his conservative opponent Dragan Primorac receiving only 25.3% support.

The victory reinforces Milanović’s position as one of the most outspoken and controversial leaders in the EU.

– It’s a plebiscite message from the Croatian people to all those who ought to hear it, and I ask that they listen, said Milanović in his victory speech.

During his first term, Milanović refused to allow Croatian participation in NATO’s training program for Ukrainian soldiers. He has also repeatedly criticized Western economic and military aid to Ukraine.

In his victory speech, he stressed that he intends to be “an equal participant in matters of foreign policy… In matters of defense and security, I will serve as the Commander-in-Chief – not as an equal, but as the highest-ranking authority – because that is what the Constitution stipulates“.

Tensions between President and Prime Minister

Tensions between Milanović and Croatian Prime Minister Andrej Plenković now risk deepening. Plenković, who leads the pro-EU conservative HDZ party, has not yet congratulated the president on his victory. Milanović, for his part, has announced talks with the government to discuss the country’s political direction.

The president’s role in Croatia is mainly ceremonial, but the office’s influence in defense and foreign policy gives him a central voice on issues related to the country’s relationship with the EU and NATO.

Milanović’s positions, which often reflect a somewhat broader trend of Euroscepticism in the region, can thus be said to place Croatia in the same camp as countries like Hungary and Slovakia.

He has repeatedly argued that Croatia should not be drawn into a “geopolitical game” that he believes mainly benefits great powers like the United States.

In a broader context, Milanović’s policies raise questions about the future of the EU and its common stance towards Ukraine. His re-election highlights a growing division within the Union, with several member states expressing dissatisfaction with continued support for Kiev.

Editorial Staff
editorial@nordictimes.com