Monday, March 20, 2023

This is how you tax Bitcoin and Co. correctly

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«Not declaring anything is illegal!»

This is how you tax Bitcoin and Co. correctly

Everyone has to fill them out, nobody really likes doing it: the tax return is due again. Blick answers the six most important questions about cryptocurrencies and their correct taxation.


Bitcoins and other cryptocurrencies must be declared for taxes.

The tax return must be completed by the end of March – at least for those who are not applying for an extension of the deadline. Countless taxpayers are facing a new challenge this year: they recently jumped on the crypto bandwagon and bought bitcoins or other tokens. Blick clarifies the most important questions about cryptocurrencies in the tax return.

Do you have to declare cryptocurrencies to the tax authorities?
Strictly speaking, anyone who does not declare bitcoins, ether and whatever they are called is committing tax evasion. “Crypto currencies are viewed by the tax authorities as assets,” says Markus Stoll (49). He is a fiduciary expert at VZ Rechts- und Steuerberatung AG. Cryptocurrencies must be stated as assets and taxed. “Not giving anything is illegal!” warns Stoll.

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