It’s now even easier for German users to calculate crypto tax
We’re excited to share that Crypto.com Tax is now available to users in Germany, in addition to U.S., Canada, Australia and the U.K.
Crypto.com Tax makes it easy to calculate complicated crypto taxes at no cost. This tool enables users to quickly generate organised reports, including transaction history and records of capital gains and losses.
Users can import crypto transaction records from over 20 supported exchanges and wallets by uploading a CSV file, or using API synchronisation with major platforms like the Crypto.com App. Crypto.com Tax provides users with an estimation of taxable crypto gains/losses instantly based on the share-pooling calculation method on relevant crypto transactions, which can then be downloaded in a format of their choice.
Helpful Facts About Germany Tax Rules
2021 Tax Year: January 2021 – December 2021
Paper Returns Deadline: 31 July 2022
Germany Tax Cost basis method: FIFO
Remember to check out our Germany Tax Rules guide for more information.
For general information about Crypto.com Tax, please refer to the FAQ or reach out to us via the in-app chat. We’re here to help.
Notes:
Please note that the following is not legal advice and should only be regarded as a summary of the current tax circumstances regarding cryptocurrencies in Germany.
1. The individual user of the Services is assumed to be a German tax resident for the tax year in question.
2. The German tax treatment of cryptocurrency is complex and potentially subject to change. Therefore, individuals should take their own personal tax advice as required.
3. There are presently no specific tax rules in German tax law with regard to cryptocurrencies. The German Federal Ministry of Finance (BMF) published a draft circular on 17th June 2021 on direct tax implications of virtual cryptocurrencies and tokens. However, this BMF Draft Circular is still in draft form and may be subject to significant changes. The information provided to you is based on general German tax principles in force as at 30 December 2021 as well as the BMF Draft Circular.
4. This information is provided on the basis that the Services provided are intended exclusively for individuals who are not trading in crypto assets as a commercial activity. The German tax authorities determine whether crypto activities amount to business activities based on a number of factors and individual circumstances. We recommend that the individual consults a tax advisor in this regard if necessary.
