Investments in cryptocurrencies, securities and tokenised assets can create complex tax obligations in Austria. Multiple wallets, foreign exchanges, missing transaction data or unclear acquisition costs can make the correct calculation and reporting of taxable income particularly challenging.
TPA supports individuals, entrepreneurs and companies with Austrian tax advice for cryptocurrencies and capital assets. We help you identify taxable transactions, calculate income and gains, prepare reliable documentation and address potential reporting gaps.
Austrian tax advice | For individuals and businesses | Support in German and English
When crypto and investment taxation becomes complex
Tax questions often arise long before an investment is sold. The tax treatment can depend on when an asset was acquired, how income was generated, whether assets are held privately or by a business and whether an Austrian service provider has already withheld tax.
Our specialists can support you if you
- use several wallets, exchanges or brokers;
- invest through foreign platforms;
- receive income from staking, lending or similar activities;
- hold cryptocurrencies acquired before March 2021;
- need to reconstruct acquisition costs and transaction histories;
- want to offset investment gains and losses correctly;
- plan to invest through a company or investment vehicle;
- are developing a tokenisation or blockchain-based business model; or
- need to correct previously incomplete tax returns.
Our tax services for investors and businesses
Tax advice for private investors and entrepreneurs
We support private investors and entrepreneurs with:
- reviewing the Austrian tax treatment of cryptocurrencies, securities, funds and other capital assets;
- calculating taxable income and realised gains from cryptocurrencies;
- calculating income from capital assets that has not been subject to final taxation;
- reconstructing and documenting transactions across wallets, exchanges and brokers;
- reviewing acquisition costs, transfers and taxable events;
- calculating loss offsets and, where legally available, loss carry-forwards;
- assessing the treatment of cryptocurrency holdings acquired before March 2021;
- preparing the relevant information for Austrian tax returns;
- reviewing Austrian capital gains tax and withholding tax deductions; and
- preparing voluntary disclosures relating to cryptocurrencies and capital assets.
Tax advice for companies, funds and token projects
We advise companies, founders, investment vehicles and funds on:
- the tax structuring of financial instruments and investment models;
- investments in cryptocurrencies held as business assets;
- the tax treatment of crypto treasury activities;
- the tokenisation of real estate, company interests and other assets;
- alternative investment funds involving cryptocurrencies or tokenised assets;
- Austrian and cross-border withholding tax matters;
- withholding tax relief and refund procedures;
- documentation requirements for blockchain-based transactions; and
- tax risks connected with new digital business models.
FAQ
What is income from capital assets?
Income from capital assets includes all earnings derived from the use of capital. This includes, for example, interest, dividends, income from investment funds, or gains and losses from the sale of securities. Since March 1, 2022, income from cryptocurrencies has also been classified as income from capital assets.
How are cryptocurrencies taxed in Austria?
Since 1 March 2022, income from cryptocurrencies acquired after 28 February 2021 is generally treated as income from capital assets.
For individual investors, current income and realised gains are generally subject to the special tax rate of 27.5%, provided that the activity does not constitute a commercial business. Different rules can apply to companies, professional traders, commercial mining activities and other business models.
Tax requirements, such as the documentation of transactions, play a crucial role in correctly calculating taxable income. If cryptocurrencies were acquired before March 1, 2021 (“existing cryptocurrency holdings”), their sale is no longer taxable after the one-year speculation period has expired.
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When does a taxable cryptocurrency transaction occur?
A taxable realisation generally occurs when cryptocurrency is exchanged for euros, another legally recognised currency, goods or services.
The exchange of one cryptocurrency for another cryptocurrency is generally not treated as a taxable disposal in Austria. Instead, the acquisition costs of the transferred cryptocurrency are carried over to the cryptocurrency received.
Is Austrian cryptocurrency tax withheld automatically?
Austrian debtors and qualifying cryptocurrency service providers have generally been required to withhold Austrian capital gains tax on relevant cryptocurrency income accrued after 31 December 2023.
However, tax may not be withheld when assets are held through foreign platforms or when the provider does not have sufficient information. Investors should therefore verify whether the deduction is complete and whether additional reporting is required.
Which records should cryptocurrency investors keep?
Investors should retain complete records of:
- purchase and disposal dates;
- the type and quantity of each asset;
- acquisition costs and transaction fees;
- transfers between personal wallets;
- exchanges between cryptocurrencies;
- payments for goods or services;
- staking, lending and other income; and
- tax already withheld by a service provider.
A complete transaction history is essential for calculating taxable income and demonstrating the result to the Austrian tax authorities.
Can cryptocurrency losses be offset against other investment income?
Losses from cryptocurrencies may be offset against certain positively taxed income from private capital assets within the same calendar year. Several statutory restrictions apply.
A general loss carry-forward is not available for private investment income. Different rules may apply to business assets and companies.
What is tokenization?
Tokenization describes the process by which real-world assets are converted into digital tokens on a blockchain. These tokens represent title to ownership or rights of use in an asset, such as real estate, works of art, or company shares. When structured optimally, tokenization enables greater liquidity compared to other investment instruments, as tokens are generally easier to trade via a blockchain. At the same time, however, it requires a thorough tax and legal review.
How are taxes levied on cryptocurrency trading?
In Austria, a tax liability arises for cryptocurrencies when they are exchanged for fiat currency or services. In this case, the difference between the acquisition cost and the sale price is used as the basis for calculating income tax. Exchanges between cryptocurrencies are not taxable in Austria.
Taxpayers must generally report their gains on their income tax return and pay taxes accordingly. Accurate calculation and documentation are essential to meet legal requirements. Since January 1, 2024, domestic brokers have been required to withhold capital gains tax (KESt) at a rate of 27.5% and remit it to the tax office. Provided that sufficient documentation of the cryptocurrencies is available, the remittance of the capital gains tax also results in final taxation for Austrian taxpayers.
What can I do if cryptocurrency income was not reported in previous years?
Previously unreported income should be reviewed as soon as possible. Depending on the circumstances, a complete and timely voluntary disclosure may help correct the tax position.
The requirements for an effective voluntary disclosure are strict. The relevant years, transactions, income and tax amounts must therefore be reconstructed carefully before the disclosure is submitted.
Get clarity on your Austrian tax obligations
Whether you are managing a personal crypto portfolio, investing through a company or developing a tokenised investment model, we help you understand the Austrian tax consequences and take the appropriate next steps.
