How is my crypto taxed?

You may have to pay tax on trading or owning crypto. Coinmerce is not allowed to give you tax advice, but we want to inform you with this article on how to deal with crypto in your tax return.

Crypto and taxes for residents of the Netherlands.
If you have cryptocurrencies as an investment or for savings, they are allocated to Box 3. If you earn your income from crypto, they are allocated to Box 1. The value you have to declare is the value of your portfolio on January 1st of the tax year. You can find more information on the website of de Belastingdienst.

You don't have to have a full annual statement. As this tends towards tax advice, we can therefore not provide it. To determine what your holdings on Coinmerce were worth on January 1st, you can multiply the number of coins you had in your wallet on January 1st by the lowest value of the coin on January 1st.

On the orders page, you can download a CSV export file of your latest orders. This way, calculate your orders back to January 1st, so you know exactly how many coins you had in your wallet. You can then multiply this by the following values:

On 1 January 2023:
Bitcoin (BTC) 25,212
Ethereum ...
Litecoin ...

Tip: Take a screenshot of your wallet at 12:00 on January 1. That way you know exactly how much your assets were worth at that time.

Please note: that you always remain responsible for filing your tax return correctly, in accordance with the laws and regulations in place.