As already anticipated in the presentation to the Council of Ministers on October 6, 2021, income related to cryptocurrencies will be taxed as income from capital assets in the future. In the course of the eco-social tax reform, all crypto-coins acquired after February 28, 2021 would no longer constitute speculative income, but would be taxed as capital assets pursuant to Section 27b income tax act. A distinction between current income (“fruits”; § 27b (2) income tax act) and realized appreciation (§ 27b (3) income tax act) is provided for. The taxation is generally carried out at the special tax rate of EUR 27.5% and is furthermore to be withheld and paid as capital gains tax by a domestic debtor / service provider.
The proposed regulation and subsumption of cryptocurrency income under income from capital assets seems to make sense in terms of administrative economy in view of the existing regulations and the technical usability according to the legislator. Furthermore, the loss compensation pursuant to Section 27 (8) of the Austrian Income Tax Act for income from capital assets is to be extended, so that in the case of income from cryptocurrencies, the offsetting of losses against other capital income to which the special tax rate is applicable (with the exception of interest on savings books and foundation grants) is possible.
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