Tax on crypto earnings in the Netherlands
The value on 01/01 is decisive!
The amount you have to declare in your tax return is the value on the 1st of January. Are you interested in crypto? Then, you probably know that the value of your portfolio can completely change in one day. Therefore, enter the value of your crypto assets on January 1, 00:00:00 of the year of the declaration.
What happens if you don’t declare your crypto?
As mentioned before, declaring your crypto assets is your own responsibility. Based on new EU guidelines, cryptocurrencies will soon be subject to the exchange of tax data. Therefore, in the future, it can be the case that the value of your crypto will be visible in the pre-completed declaration.
Sometimes, things can go wrong with the tax return. And this can be quite expensive. If you do not declare your crypto, the Dutch tax authorities see this as ‘undisguised capital’. You will probably receive a fine that can be substantial (up to three times the tax owed). In extreme cases, the tax authorities can even prosecute you.
We are happy to help!
Do you have questions about the tax on your assets? Or do you have other tax-related questions? We are happy to help! Please contact us using the details mentioned below.