Cryptocurrency new tax law

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The tax laws surrounding crypto earned via staking remain the. Cryptocurrencies received from select activities, however, are treated as income and therefore subject to income.

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calendar_month 15.11.2021

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Whether taxable income accrues, the types of income, the attribution of income to a taxpayer and the time of its accrual are all governed by the principles of the Austrian domestic tax laws. Even more concerning, special tax rules for cryptocurrency could exacerbate the already challenging problem of anonymity in crypto transactions, which makes it difficult to determine who owes tax; it could create opportunities for tax evasion, money laundering, terrorist financing, and other illegal activities. Caution Income from capital assets is only deemed to have been generated if the nature and scope of the activity does not extend beyond simple asset management work. These products are taxed according to general tax regulations, depending on nature of the tokens concerned.