14.12.2023
Thanks to updated law, Bitpanda offers to automatically deduct taxes from crypto in Austria
On December 6th, 2023, Bitpanda announced that from the 1st of January, 2024, it will start simplifying the reporting of taxes for its users.
Specifically, this means that Bitpanda will calculate, withhold and ultimately pay the newly introduced 27.5% tax rate on crypto gains and conversions from crypto to non-crypto assets of its users.
This change is not only possible because of Bitpanda's efforts, but also thanks to the changes that Austria has made to its tax laws. The crypto tax law responsible for this came into effect on March 1st, 2022 and applies to all crypto assets acquired since March 1st, 2021.
To be clear, this is a new regulation that must be enforced by every crypto platform in Austria. Bitpanda is just the popular example. For more information on all the details of this new mechanism, Austrian crypto tax expert Natalie Enzinger explains it for Coinfinity.
Source
On December 6th, 2023, Bitpanda announced that from the 1st of January, 2024, it will start simplifying the reporting of taxes for its users.
Specifically, this means that Bitpanda will calculate, withhold and ultimately pay the newly introduced 27.5% tax rate on crypto gains and conversions from crypto to non-crypto assets of its users.
This change is not only possible because of Bitpanda's efforts, but also thanks to the changes that Austria has made to its tax laws. The crypto tax law responsible for this came into effect on March 1st, 2022 and applies to all crypto assets acquired since March 1st, 2021.
To be clear, this is a new regulation that must be enforced by every crypto platform in Austria. Bitpanda is just the popular example. For more information on all the details of this new mechanism, Austrian crypto tax expert Natalie Enzinger explains it for Coinfinity.