We at the Crypto App are excited to announce our new partnership with CoinTracking, one of the top crypto tax tools in the market, simplifying the tax experience of millions of crypto investors.
You can start your CoinTracking crypto tax journey today with a 10% discount!
What is CoinTracking?
CoinTracking has been helping crypto investors for over ten years, bringing to market one of the first tax software designed for the intricacies of digital assets.
With CoinTracking, investors can import their crypto trades from hundreds of options, from exchanges to blockchain and wallet addresses, determine capital gains/losses, and generate crypto tax reports.
That’s not all!
CoinTracking has 25+ advanced reporting features that help you track your crypto trades, from fees to gains/losses, and even show you which coins in your portfolio may be eligible for a reduced tax rate, depending on each country’s rules.
Ready to start saving on your crypto taxes? You can sign-up for CoinTracking with a 10% discount!
Why should you care about crypto taxes?
Crypto taxes across countries are becoming tight for investors, with increased requirements and norms to follow.
Most countries, even the ones that used to be crypto tax havens, have implemented clear rules and tax rates for crypto activities, from trading to crypto income and NFTs.
Let’s cover how each country taxes cryptocurrencies in a nutshell.
Crypto tax in the US and Canada
Trading cryptocurrencies, NFTs, or earning crypto income in the US are all taxable events.
Trading crypto will be taxed at a capital gains level, while earning any type of crypto, from staking rewards to airdrops and hard forks, will be taxed at an income level. Check out the ultimate guide for US crypto taxes.
In Canada, cryptocurrencies are taxed at the capital gains level but based on your personal income taxes if you’re an individual investor.
Crypto taxes in the UK
The UK also taxes cryptocurrencies, from trading to other earning activities, subject to capital gains taxes or income taxes, depending on the transaction. Here’s how the UK taxes crypto.
German and Austrian taxes on crypto
Germany taxes cryptocurrencies at the income level, including short-term capital gains (crypto held for less than 12 months before selling).
However, Germany offers a tax-free crypto tax rate for long-term transactions (crypto held for over 12 months).
Whereas, in Austria, crypto gains are taxed at a tax rate of 27.5%.
Australia’s taxation of cryptocurrencies
Australia taxes cryptocurrencies at a capital gains level, with rates depending on the income level brackets for individual investors.
Australia also offers benefits for long-term investors! Check the full guide for Australian crypto taxes.
Crypto taxation in major European economies, from Spain to Switzerland
Major European economies like Spain and France also tax cryptocurrencies, while Switzerland is one of the most crypto-friendly locations in the world, with the canton Zug being home to many crypto and Web3 companies.
Tax season is still underway in some of these countries, with CoinTracking being the best solution for investors to do their crypto axes!
Start today!
About CoinTracking
CoinTracking is the leading crypto portfolio and tax software, supporting hundreds of exchanges and blockchain importers, including the latest trends such as NFTs, DeFi, DAOs, etc.
Join 1.3M+ people in taking care of your crypto taxes with the best solution on the market.
About The Crypto App
The Crypto App is a market-leading, utility-focused mobile application (4.1+ million downloads and a 4.4/5 star rating or higher across Google Play and iOS App Store, backed by over 84,000 reviews) that features a comprehensive crypto-focused toolkit and content experience built for the needs of crypto enthusiasts, traders and investors everywhere.
