Previously, cryptocurrencies were treated like gold or works of art and fell under speculative transactions. They were subject to income tax if resold within a year and were then subject to a tax rate of 55 percent.
With the new regulation, the retention period no longer applies to all crypto assets purchased after February 28, 2021. In the case of “old stock” that is held beyond the speculation period, on the other hand, profits from a sale do not have to be taxed.
What is also new is that in future taxes will only be incurred if the profits are removed from the cryptosphere, i.e. exchanged for euros, for example. Trading and exchanging between individual cryptocurrencies, on the other hand, is tax-free.
Furthermore, from 2023, domestic service providers will also be required to deduct capital gains tax (KESt), i.e. providers such as Bitpanda will have to deduct KESt for income from cryptocurrencies.
Source: Nachrichten
