When considering the tax treatment of transactions in crypto ETPs, several factors play an important role. Among other things, taxation depends on the type of transaction and the holding period of the crypto ETP.
If transactions in crypto ETPs are classified as private sales transactions (German: private Veräußerungsgeschäfte), any price gains realised after a holding period of more than one year are generally tax-free. When trading within the one-year speculation period, any price gains accrued must be taxed at the personal income tax rate. However, gains achieved with a holding period of less than one year also remain tax-free in accordance with Sec. 23 (3) S. 5 EStG if the sum of the gains achieved (total gain) from all private disposal transactions in the calendar year is less than 1,000€. Please note here: taxes are not payed on these products - regardless of the holding period. You must therefore declare taxable income independently in your tax return.
In the case of crypto ETPs, which are not classified as private sales transactions, any gains are subject - analogous to shares or ETFs and independent of the holding period - to capital gains tax of 25%, plus solidarity surcharge and church tax, if applicable. These are automatically paid to the tax office or offset against your exemption order. It is therefore also possible to offset losses against gains from other securities transactions. In the case of ETPs capital gains automatically taxed for you, an assessment basis for the capital gains tax to be paid is specified.
The tax classification of a product can be found in the securities statement of the corresponding sale. On the second page of the securities statement of a completed sale, you can see the tax base of your completed sale. Crypto ETPs which fall under the taxation according to §23 EStG are hereby marked as “Gewinne/Verluste AbgSt-freie Wertpapiere”. The corresponding acquisition transactions (including acquisition date) can also be found in the securities statement of the respective sale. Please note that Scalable Capital has no influence on the tax classification of a product and that this may change over time.
Please note that Scalable Capital does not provide tax advice. If you have any questions regarding your individual tax situation, please contact your tax advisor or your tax office.