Digital currency and tax in Austria
Digital currency and tax in Austria Digital currency and tax in Austria

Digital currency and tax in Austria

How cryptocurrencies are assessed in Austria

In Austria, cryptocurrencies are not recognized as legal tender. However, they are considered intangible assets. This classification has tax implications for the handling of cryptocurrencies such as Bitcoin, Ethereum, and other digital currencies.

Do I have to pay taxes when I sell my cryptocurrencies?

Yes, in Austria, any profits derived from the sale of cryptocurrencies within 1 year of purchase are subject to capital gains tax. This is set at a flat rate of 27,5% on any capital gains.

If the holding period of the cryptocurrency exceeds one year, the sale of these assets is exempt from capital gains tax. This is an essential consideration for long-term investors.

What impact does staking my cryptocurrencies have on taxes?

For staked cryptocurrencies, the same rule applies as for trading: if the assets are held for more than a year, any gains from their sale are tax-free. While the capital gains from the sale of the assets are tax-free if held for more than a year, rewards received from staking are considered regular income. These staking rewards are taxed according to your personal income tax rate at the time they are received, not at the flat rate for capital gains.

Tracking cryptocurrency transactions on Bitvavo

To manage and report your cryptocurrency taxes effectively in Austria, you can track all your transactions including trades, deposits, and withdrawals directly through Bitvavo. Your Transaction History on Bitvavo provides a comprehensive overview, and you can download this data as a CSV file to easily include it in your tax documentation.

Additionally, we have a great collaboration with Blockpit, where you can easily handle your tax return. Learn more about it through this link.

Need more information?

If you require further details or specific data for your tax return that is not included in your Transaction History, please reach out to us at support@bitvavo.com. We are here to assist you in managing your cryptocurrency tax obligations in Austria efficiently.

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