Latvia Tax Agency Updates Methodological Material on Individual Income Taxation of Gains From Crypto-Asset Sales

The Latvian State Revenue Service June 11 issued updated methodological material on the individual income taxation of gains from crypto-asset sales. Topics covered include: 1) the clarification that income from crypto-asset sales constitute capital gains subject to the 25.5 percent tax rate, from 2025; 2) the rules for determining the cost basis of crypto-assets; 3) the deadline to declare capital gains by the 15th of the following month if quarterly gains exceed 1,000 euros (US$1,157), or by Jan. 15 of the following year if quarterly gains don’t exceed 1,000 euros; 4) that capital gains tax must be paid by the ...