Crypto Tax Information Sharing in Different Countries

Apologies in advance to the IOT team if this is not an appropriate topic or if it’s already somewhere (searched the forum, but didn’t a dedicated topic on this, only a US specific one, so I thought I’d create one).

Seeing as the majority (if not all) of us own some form of crypto, I thought it might be useful to exchange information on how Taxes work in different countries. Two main reasons:

  • Some (like myself) moved to a different country where the only information available is in the native language which, as much as you want to believe you speak, might be a bit tricky when it comes to tax lingo (my example, I live in Finland but I am unsure how this all works here).

  • Some might consider retiring somewhere (lucky you!) to a nice, cheap place but may not be aware what countries to consider.

I know Google is your friend (I personally fundamentally doubt it), but when it comes to taxes I rather be legit and at very least understand how it works.

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FINLAND

I believe you are taxed on capital gains depending on the amount:

  • Less than 10000 Eur profit = 30% of Total profit - Cost/Fees
  • 10000 Eur or more profit = 34% of Total profit - Cost/Fees

Had friends telling me if you make very small amount of profit 200Eur, 50 Eur, Tax office won’t really bother (seems fishy, especially in Finland - is this true?).

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FINLAND

What I don’t know is how it works if I exchange coins (e.g. exchange CRO to ADA / LINK) or how “fractional” selling works since all the example I could find in vero.fi were for integer type sales (ie., selling 1 ETH rather than for example 0.25 ETH).

Also how do you prove the cost and fees of an acquired coin? I have the emails and history of the exchange (I use Crypto . com) but would they trust that when I do my taxes?

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CROATIA

If you sell crypto for fiat and you made a profit, you must pay tax. (Unless you HODL for more than 2 years, then there is no taxation.) There is no taxation when making a profit from a crypto to crypto exchange, only if you sell for fiat or you buy a physical/virtual good using crypto.

Tax is 12% + city (usually between 0,5% to 1,5%)

Mining bitcoin or any other crypto is a taxable event.

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Hi, yes, thx for posting. We sure need more info on all this for other countries. I’m in Canada. But all new for now right. :slight_smile:

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