Bitcoin Abroad: The Tax Duty Austrian Investors Carry Themselves

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Sold bitcoin through a foreign platform? When Austrian investors have to declare gains themselves and account for the 27.5 percent tax rate.Bitcoin abroad: the tax duty Austrian users carry themselves Anyone who is tax-resident in Austria and sells bitcoin through a foreign crypto platform does not escape Austrian taxation by doing so. The decisive difference from many domestic providers lies rather in the fact that often no Austrian capital gains tax is withheld automatically. Taxable bitcoin gains must then, as a matter of principle, be recorded by the investor personally through the income tax assessment. For private crypto income the special tax rate of 27.5 percent continues to apply in principle. A foreign platform does not mean tax-free Austria taxes income from cryptocurrencies as income from capital assets. This covers both certain ongoing income and realized increases in value. A taxable sale exists in particular where bitcoin is disposed of for euros or another legal ...