The holding of cryptocurrencies is now widespread. In a tax sense, cryptocurrencies are also considered as assets, which is why it is important to declare them correctly in the tax return. Non-declaration or misdeclaration can have considerable consequences.
Wealth tax
Cryptocurrency assets are subject to wealth tax. Therefore, they must be declared indicating the name of the cryptocurrency held in the tax return. A portfolio hard copy at the end of the year is sufficient as proof. If the position of a cryptocurrency can no longer be displayed retroactively in the corresponding portal, a hard copy of the current status should be made as at 31st of December.
Valuation
For common cryptocurrencies such as bitcoin, the Federal Tax Administration publishes the price to be used at the end of the year. Other cryptocurrencies must be reported at the year-end rate of the most common exchange platform for that currency.
