Please find the Dutch version below.
[English] Not all people know that paying taxes on your crypto assets is mandatory. How taxable events are exactly organised, differs per country. To help you, we’ve highlighted the tax laws on digital assets per country in this blog below. If you need additional support, we would like to point you to the services of our trusted partner Blockpit. Bitvavo users get a fully compliant tax report within minutes and benefit from a 35% discount on all paid licenses.
Balance statement
We provide all our users with a yearly balance statement of their accounts. In the balance statement, you will find a snapshot of your Bitvavo account balance as of January 1st and December 31st at 00:00 CET. To access your balance statement, follow these steps:
1. Log in with the web browser on your computer and go to ‘Transaction history’.
2. Once in 'Transaction History', click on the 'Download Balance Statement' blue button on the top right of the page.
3. A PDF document will be downloaded to your computer.
Crypto taxes per country
There are no universal tax rules regarding crypto and every country taxes it differently. Below we’ve highlighted The Netherlands, Germany, Belgium, France, and Spain.*
The Netherlands
If you owned crypto at the beginning of the year, you will have to report it in Box 3 together with investments and savings. If you mine crypto, get paid in crypto or do day trading for example, you have to report your taxes in Box 1. For the tax year of 2022 it is calculated that if you own more than 50,650 euros you have to pay taxes. The Belastingdienst wants to know the value of your assets per the 1st of January, every year. Our Annual Balance statement can help you with this.
Do you also hold cryptos in your own wallets or at other exchanges? For a small fee, our trusted partner Blockpit makes crypto taxes easier for all your crypto holdings and activities. Moreover, you can use their tax report to generate proof of funds, when you need to cash out your cryptos.
Germany
In Germany, cryptocurrencies are classified as ‘other economic goods’ and sold as ‘a private sale’. Profits are taxed at the personal income tax rate. If you choose to hold your crypto assets for a year, you don't pay any tax - but beware, a trade from crypto to crypto is already counted as a taxable realization. There is an exemption limit of €256 per year for crypto income, such as from staking or lending. Doing your crypto taxes can be rather challenging in Germany, that’s why Blockpit can help you out with sorting your crypto taxes. Clients from Bitvavo receive a discount of 35% on their services.
Belgium
Crypto tax laws in Belgium can be difficult to navigate. For instance, gains from crypto-related transactions could be taxed as miscellaneous income for risky or speculative behaviour, as regular income from professional activities with a progressive income tax, or Tax-free under the “Bon père de familie” condition. Also, individuals who do not invest for the long term are considered traders. They are subject to capital gains tax, which is calculated based on the difference between the purchase price and the sale price of the digital currency. If the asset is less than 6 months in the portfolio of the holder, there is a capital gains tax of 33%. If the holder has the asset for a longer period than 6 months, a capital gain tax might be applied.
If you feel uncertain about your tax situation, you can reach out to our trusted partner Blockpit. They can help you with your crypto taxes for a small fee.
France
In France, you create a taxable event only when you convert your crypto to fiat currency and when you generate crypto profits from activities such as mining. You are not required to pay taxes when buying cryptos, trading them, or swapping them between wallets. Casual investors pay a flat tax rate of 30% on capital gains from crypto-assets. Capital gains of less than €305 per year are exempt from tax. You must declare each account held on a crypto platform located outside of France. If you would like more help with your crypto taxes, please check our partner Blockpit. They help customers of Bitvavo with a discount of 35% on their services.
Spain
Spain requires investors with foreign crypto in foreign exchanges to declare their holdings. When crypto is earned from selling, trading, or swapping an asset in exchange for crypto or fiat, it is considered a capital gain (or savings taxable income). Capital gains are taxed at a progressive rate that ranges from 19% to 26%. If the total value of your assets is greater than 700,000 EUR, you will also be subject to a wealth tax. Would you like help with your crypto taxes? Our partner Blockpit helps also Spanish taxpayers.
Start trading at Bitvavo
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*All crypto tax details originate from Blockpit.
[Dutch] Niet iedereen weet dat het betalen van belasting over crypto verplicht is. Daarnaast verschillen de specifieke belastingregels per land. Om u te helpen, hebben wij de Nederlandse en Belgische belastingregels voor crypto in het kort uiteengezet:
Nederland
Als u crypto bezit aan het begin van het jaar, geeft u dit aan in Box 3 samen met beleggingen en spaargeld. Als u geld verdient met bijvoorbeeld het minen van crypto, u betaald wordt in crypto of op dagbasis handelt, geeft u dit aan in Box 1. Voor het belastingjaar 2022 geldt dat wanneer u meer dan 50.650 euro bezit, u belasting over uw vermogen moet betalen. De Belastingdienst wilt de waarde van uw bezittingen weten per 1 januari, elk jaar. Ons jaaroverzicht kunt u daarbij helpen.
België
In België wordt u gezien als trader wanneer u voor de korte termijn investeert. U betaalt vermogenswinstbelasting dat berekend wordt op basis van het verschil tussen de aankoopprijs en de verkoopprijs. Wanneer u een asset minder dan zes maanden in uw portfolio houdt, wordt een belasting van 33% geheven. Houdt u de asset langer dan zes maanden? Dan betaalt u 16,5% belasting.
Bitvavo jaaroverzicht
Wij voorzien al onze gebruikers van een jaaroverzicht van hun accounts. Hierin vindt u een momentopname van uw tegoeden bij Bitvavo op 1 januari, 00:00 CET en op 31 december 2022, 23:59 CET. Om uw jaaroverzicht te downloaden, volgt u deze stappen:
1. Log in via de webbrower op uw computer en ga naar ‘Transactie geschiedenis’.
2. Wanneer u in uw 'Transactie geschiedenis' bent, klikt u op de blauwe knop 'Download jaaroverzicht' rechts bovenin.
3. Een PDF document wordt gedownload op uw computer.
Heeft u toch wat extra hulp nodig met uw belastingaangifte? Onze partner Blockpit genereert belastingrapporten binnen enkele minuten, klanten van Bitvavo ontvangen 35% korting op al hun betaalde licenties.