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Guide on individual tax reports



TL;DR:

CoinTracking offers tailored tax reports for 12 countries (Austria, Germany, UK, US, Italy, Belgium, New Zealand, India, Denmark, Finland, Spain, Canada) reflecting local crypto tax laws. Key differences include holding period exemptions, treatment of crypto-to-crypto trades, income categorization, and capital gains methods. For all other countries, the General Tax Report allows full customization of accounting methods and thresholds to meet local requirements.


Introduction

This guide outlines CoinTracking's individual tax reports tailored to various countries, as well as a general report for unsupported countries. These reports reflect each country's specific tax regulations to help ensure compliance and accurate reporting.


Customized Tax Reports Available for:

  • Austria

  • Germany

  • United Kingdom (UK)

  • United States (US)

  • Italy

  • Belgium

  • New Zealand

  • India

  • Denmark

  • Finland

  • Spain

  • Canada

More countries are being added over time.


Country-Specific Details

Austria

  • Post-March 2022: crypto-to-crypto trades tax-free.

  • Crypto-to-fiat and derivatives/futures: capital gains tax.

  • Pre-March 2022: 1-year tax-free holding rule applied.

Germany

  • Personal income tax applies to gains.

  • Tax exemption on holdings over one year.

  • Derivatives and futures taxed under capital gains.

  • All crypto income shown as "Other Income".

United Kingdom

  • Capital gains treatment under Sec. 21 TCGA.

  • Uses HMRC-specific accounting.

  • Crypto income treated as miscellaneous.

United States

  • Short-term vs. long-term capital gains depending on holding.

  • Income (e.g., staking, mining): reported as other income.

  • Futures and derivatives included in capital gains.

Italy

  • Pre-2023: tax applies if portfolio > €51,645.69 for 7+ days.

  • LIFO method used.

  • Post-2023: same-type asset trades tax-free (e.g., crypto-to-crypto).

Belgium

  • Fiat-based sales of crypto/NFTs taxed.

  • No clear rule for long-term holdings—advisor consultation needed.

  • Income taxed from 25% to 50%.

New Zealand

  • Tax applies to all crypto-related income.

  • Progressive rate: 10.5%–39%.

  • Losses offset taxable gains.

India

  • Governed by VDA rules.

  • 30% flat tax + cess; no expense deductions.

  • Losses only offset within the same asset type.

Denmark

  • Personal income tax up to 52%.

  • Crypto gains, swaps, and derivatives taxable.

  • 46,700 DKK allowance.

Finland

  • Gains taxed as capital gains.

  • Deemed acquisition deduction (20–40%) allowed.

  • Mining and crypto wages taxed under capital gains.

Spain

  • Capital gains taxed 19–26%.

  • Income taxed at individual rates.

  • Crypto gifts = taxable disposals.

  • Losses can be carried forward.

Canada

  • Crypto = commodity.

  • Investors taxed on 50%, traders on 100%.

  • ACB method and “superficial loss” rule apply.

  • Foreign holdings > CAD 100,000 must be reported via T1135.


For All Other Countries

Use the General Tax Report:

  • Select from FIFO, LIFO, ACB, AVCO, or HMRC methods.

  • Customize thresholds and holding periods.

  • Designed for flexibility where local regulations aren't yet covered.


Disclaimer: Please note that we are not tax advisors and are therefore not permitted to provide tax advice. The information contained in this FAQ is for general information and technical support in using the CoinTracking software only. It does not constitute tax or legal advice. Please contact a qualified tax advisor with any tax questions.


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