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Income from the use and mining of crypto assets is subject to tax. File the income on your tax return. You can also file the related expenses as deductions.
In these instructions, crypto assets refer to all types of virtual currencies and crypto assets, such as Ethereum, Tether, Litecoin and Bitcoin.
Income from the use or exchange of crypto assets is taxed as capital gain, which is capital income. Taxable income arises when:
For purposes of taxation, income from crypto asset mining (proof-of-work) is deemed to be earned income. Oppositely, income from locking up (staking) and lending crypto assets is deemed to be income from capital. The taxable value of the income is the euro exchange-rate value, at the point in time when you received the crypto asset (in other words, when the crypto asset arrives into your account, into your wallet of crypto assets or otherwise). For information on exchange rates between the euro and your cryptocurrency, use the services of a cryptocurrency exchange.
Attention begins.
Starting in tax year 2026, the Tax Administration will receive increasingly extensive information on trading in crypto assets. Information will be collected widely from both abroad and Finland, and international exchange of information will intensify. Read more about the obligation to provide information.
Attention ends
Calculate your gains or losses from crypto assets using the Tax Administration’s FIFO calculator. The calculator uses the FIFO principle (First In, First Out), according to which crypto assets are considered to have been spent in the order that they were acquired.
Enter all your purchases and sales in the calculator. Calculate the gain or loss separately for each sales transaction during the tax year, i.e. every time you have exchanged crypto assets for other crypto assets or spent them on purchases.
Selling, exchanging and spending
How to report income from crypto assets and virtual currencies in MyTax
Mining
If you submit the information on paper, make sure you use the correct form:
Report capital gains on Form 9 (Capital gain or capital loss)
Report earned income received from mining on Form 50A (Earned income and deductions)
You do not need to attach any documents regarding acquisitions, purchases or sales to your tax return. However, keep the receipts and other documents for a period of 6 years after the end of the tax year. The Tax Administration may ask to see them at a later stage.
You can report the income from crypto assets for your current year’s tax card or you can request prepayments. In both cases, you pay tax evenly throughout the year instead of paying the entire amount as back taxes.
In tax card requests, transfers of crypto assets will be reported differently from before: capital gains or capital losses will be reported separately depending on whether the gain or loss is generated through Finnish or foreign service providers.
Read the instructions: How to report income from crypto assets and virtual currencies in MyTax
When you exchange crypto assets for euros, dollars or other crypto assets, you generate either a capital gain or a capital loss.
To calculate the amount of gain or loss, deduct the following from the selling price of the crypto assets:
If you do not know the exact purchase price or purchase date of the crypto assets, capital gains will be calculated based on the deemed acquisition cost. In that case, the deemed acquisition cost – instead of the purchase price and the expenses – is deducted from the selling price of the crypto assets.
Even if you do not know the exact date of purchase, file the year of purchase on the tax return because it affects the deemed acquisition cost. Enter the first day of the acquisition year in the Acquisition date field in the calculation of capital gain tax, e.g. 1 January 2013, and leave all other fields blank.
Please note that if you use the deemed acquisition cost, you cannot deduct the purchase price and expenses from the selling price of the crypto assets.
Some time in the past, Sebastian bought 200 units of cryptocurrency A at €5 each. The acquisition price in total was thus €1,000. Sebastian buys goods for €1,000 in an online shop and pays for them in cryptocurrency A. At the time of payment, a unit of cryptocurrency A is valued at €10. Consequently, Sebastian exchanges 100 units of cryptocurrency A for goods.
The purchase of goods, i.e. the exchange of cryptocurrency for goods in an online shop, also means that the increase in the value of the cryptocurrency becomes taxable. In this example, Sebastian generates a taxable capital gain of €1,000 – €500 (= acquisition price of 100 units of cryptocurrency A) = €500, which will be taxed as capital income.
Sebastian files the capital gain from crypto assets on his tax return in the following way:
You can check the values at a well-known cryptocurrency exchange. Sebastian can also deduct expenses for the acquisition of property, such as broker’s fees.
After his online purchases, Sebastian still has 100 units of cryptocurrency A, whose acquisition price was €500.
Income from mining is usually earned income (the Proof-of-Work protocol). It is your incomefor the year when the crypto assets or other consideration are transferred to your virtual wallet or crypto asset account.
The value of the crypto assets is determined according to their exchange rate in euros at the time of mining. In the case of income from mining, you can use the daily or monthly average rate if necessary. In valuation, use the same periodisation consistently, i.e. either the daily or monthly average rate or the values provided by the same exchange, throughout the year.
Expenses arising from mining can be deducted from the income earned from mining. For this reason, you cannot deduct the expenses from capital gain when you exchange or spend the crypto assets.
However, you can deduct increased electricity costs resulting from mining, for example, from your earned income (first establish the actual increase in electricity costs). You can also deduct the acquisition cost of the equipment used in mining.
You can deduct the following percentages from the equipment acquisition cost:
Note that, at request, you must be able to present proof of how often and for what purposes the equipment is used.
Kalle bought a computer at €1,800. He bought the computer for private use but also uses it in mining. Fifty percent of the purchase price, i.e. €900, is considered an expense deductible in tax assessment. Kalle can deduct the whole deductible acquisition cost of €900 on his tax return for the year in which the computer was bought.
You can also receive new crypto assets by locking up (staking) your existing crypto assets on a network to safeguard their value. The reward for this may be, for example, an additional 5% of crypto assets per year, paid on a daily basis, on top of your existing crypto asset income (the Proof-of-Stake protocol).
In tax assessment, the reward is regarded as income that is based on the crypto assets you have bought earlier, so the value of the additional crypto assets is taxed as capital income. Report this kind of income under Other capital income on the tax return and the related expenses under Other deductions from capital income.
Read more and see examples of the taxation on crypto assets in the Tax Administration’s detailed guidance on the taxation of virtual currencies
Report the information on your tax return as follows:
You can check the values of crypto assets at a well-known cryptocurrency exchange. When the capital gain is calculated, the acquisition price of the Bitcoins and the related expenses are deducted from the selling price.
Yes, you must pay tax. An increase in the value of crypto assets is taxed separately every time you exchange crypto assets for another currency. It makes no difference whether you leave the funds in a brokerage service’s account or transfer them to your own bank account.
Yes, you can. If you generate a loss from the use of crypto assets, the Tax Administration will primarily deduct it from your capital gains. If you do not have capital gains, the loss will be deducted from your capital income. If you have no capital income or if your capital income is less than the loss to be deducted, the deduction will be carried forward to the next 5 years.
If you have acquired crypto assets but have not spent them on purchases or exchanged them for another currency, you do not need to report the amount of crypto assets on your tax return. However, crypto assets created through mining must always be reported because they are earned income.
Note that CFDs are not crypto assets and their tax treatment is different from that of profits from crypto assets. The rules on capital gains tax are not applied to CFDs, and losses cannot be deducted from profits.
If you make a profit on a CFD, it will be taxed as capital income. The tax rate for capital income of up to €30,000 is 30%, and the tax rate for any income exceeding that is 34%.
Losses from CFDs are not taken into account in tax assessment in any way, not as capital losses nor as tax-deductible expenses.
Please note that in the taxation of CFDs, every transaction will be processed independently. This means that any profits made from trading CFDs will be taxed as capital income and that losses from trading CFDs cannot be deducted from profits. If you are trading CFDs, you can therefore lose the capital you have invested and still be liable to pay tax on the profits you make.
Add up the profits you have made on CFDs and report the amount on your pre-completed tax return in MyTax under Foreign income – Other foreign capital income. If you file on paper, use Form 16B Statement on foreign income (capital income).
Note that losses from or expenses for CFDs need not be filed on the tax return because they cannot be deducted from the profits.
The Tax Administration receives information on foreign-sourced income and supervises their tax filing.
Read more about the taxation of derivatives (in Finnish and Swedish, link to Finnish)
Read more about automated exchange of information (in Finnish and Swedish, link to Finnish)