Taxes on Cryptocurrencies

Taxes are an important topic, but unfortunately, they are complex and differ in every country. Here is a simplified overview.

Important Legal Disclaimer

I am not a tax advisor. The information shared here is for general guidance only and does not constitute professional advice. Tax laws can change. For your individual situation and a correct tax return, **I strongly recommend consulting a tax advisor!**

🇩🇪 Germany

  • One-Year Holding Period: If you hold cryptocurrencies for more than one year, profits from their sale are completely tax-free.
  • Holding Period Under One Year: If you sell earlier, the profits are taxed at your personal income tax rate (note the exemption limit of €1,000 per year).
  • Staking/Lending: Income from these activities is taxable. Whether it extends the holding period to 10 years is a debated topic.

🇦🇹 Austria

  • Flat Tax of 27.5%: Profits from the sale of cryptocurrencies are subject to a flat tax of 27.5% (Capital Gains Tax). The one-year holding period is irrelevant for coins purchased after Feb 28, 2021.
  • Crypto-to-Crypto Swaps: Are tax-neutral. Tax is only due when swapping back to fiat money (e.g., Euro).
  • NFTs: Are generally not covered by the flat crypto tax. Profits are usually taxed as speculative income at your personal income tax rate if held for less than a year. The legal situation is particularly complex here.

🇨🇭 Switzerland

  • Capital Gains are Tax-Free: For private individuals, profits from the sale of cryptocurrencies and NFTs are generally tax-free.
  • Exception for "Professional Traders": If the tax authority classifies you as a "professional trader," all profits become subject to income tax.
  • Wealth Tax: You must declare the value of your crypto and NFT holdings at the end of the year (Dec 31) as part of your assets and pay the cantonal wealth tax on them.

Ready for your tax return?

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