Guide on individual tax reports

TL;DR: CoinTracking offers tailored tax reports for 22 countries 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
• Australia
• Portugal
• Norway
• Sweden
• Switzerland
• Netherlands
• Poland
• Ireland
• France
• Czech Republic
• 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

• 26% Capital Gains Tax on crypto/NFT gains.
• Crypto-to-crypto and NFT-to-NFT trades generally not taxable; crypto-to-stablecoin swaps are taxable.
• Income (staking, mining, airdrops) taxed separately at 23-43%.
• LIFO is the commonly used accounting method.

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.

Ireland

• Crypto disposals subject to Capital Gains Tax (CGT) at 33%.
• No holding-period distinction (short-term vs. long-term).
• Annual CGT exemption: €1,270 per person, not carried forward.
• FIFO is the commonly used accounting method.
• Crypto income (staking, mining, DeFi, airdrops) taxed as Income Tax (20-40% + USC + PRSI) at receipt; later disposal separately subject to CGT.

Poland

• Flat 19% Capital Gains Tax on crypto disposals; effective rate up to 23% above PLN 1M income (solidarity surcharge).
• No holding-period exemption.
• Crypto-to-crypto trades are not taxable, only conversion to fiat or economic use triggers tax.
• Crypto income (staking, lending, DeFi, salary) is not taxed at receipt; tax applies only on later fiat conversion, with cost basis of 0.
• Fees are deductible; losses can be carried forward.

Australia

• Capital Gains Tax applies to disposals; long-term holdings (>12 months) qualify for a 50% CGT discount, investors only, not "sophisticated traders."
• Crypto-to-crypto trades, spending, and gifts are all taxable disposal events.
• Crypto income (staking, mining, airdrops) taxed as ordinary income up to 45%.
• Derivatives/margin/futures can be classified as either capital gains or other income depending on settings.
• FIFO is the commonly used accounting method.

Norway

• Crypto treated as a capital asset; all disposals (crypto-to-crypto, NFT-to-NFT, wrapped-token conversions, fiat sales, payments) are taxable.
• Flat 22% tax on both capital gains and crypto income.
• FIFO is the commonly used accounting method.

Portugal

• Crypto-to-fiat gains held under 12 months taxed at 28% Capital Gains Tax; gains held over 12 months are tax-free.
• Crypto-to-crypto and NFT-to-NFT trades are tax-exempt.
• Staking income taxed at a flat 28% (Category E); mining income taxed under progressive Category B rates.
• FIFO is the commonly used accounting method.

Sweden

• Flat 30% Capital Gains Tax on crypto/NFT trading, margin, derivatives, and futures.
• Crypto-to-crypto trades, fiat conversion, spending, and liquidity transactions are all taxable disposals.
• Interest-type income (lending, staking, LP rewards) reported separately from other crypto income.

Switzerland

• Private individuals generally pay no Capital Gains Tax on crypto disposals; crypto-to-crypto trades are tax-free for non-commercial investors. Instead, crypto holdings are subject to annual cantonal Wealth Tax, valued as of 31 December.
• Margin/derivatives/futures trading may be classified as commercial activity and taxed differently.
• FIFO is the commonly used accounting method.

Netherlands

• Crypto taxed under Box 3 (assumed return on total assets as of 1 January), not on realized capital gains.
• Private crypto trading is generally not taxed as capital gains; professional trading, mining, or certain lending can fall under Box 1 (regular income).
• NFTs treated as capital assets under Box 3.
• FIFO is the commonly used accounting method.

France

• Disposals of crypto-assets against fiat are taxed under Art. 150 VH bis CGI at a flat 31.4% (12.8% income tax + 18.6% social levies).
• No FIFO: France mandates a portfolio-wide proportional cost formula (FTM method), gain = disposal price - (total acquisition cost × disposal price ÷ overall portfolio value at time of sale).
• Crypto-to-crypto exchanges without a cash adjustment (incl. stablecoin swaps) are tax-deferred, not immediately taxable.
• €305 annual threshold applies to the sum of taxable disposal prices, not the gain, once exceeded, all disposals for the year become taxable.
• Crypto income (staking, mining, DeFi) generally falls under BNC, taxed at progressive rates up to 45%

Czech Republic

• Crypto gains are classified as "other income" under Section 10 of the Income Tax Act, taxed at a base rate of 15%, rising to 23%.
• 3-year holding exemption: gains from crypto held longer than 3 years are fully tax-exempt, capped at CZK 40 million per year (unlike securities, where this cap was abolished from 2026).
• CZK 100,000 annual exemption ("value test"): if total gross crypto sale proceeds for the year stay under CZK 100,000, the income is exempt and does not need to be declared at all.

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.