Austria Taxes Bitcoin Gains from Foreign Platforms at 27.5 Percent

Austrian investors who sell Bitcoin through foreign crypto platforms are not exempt from Austrian taxation. The sale proceeds, minus acquisition costs, determine taxable gains. For private crypto income, a special tax rate of 27.5 percent applies.

The difference between using a domestic or foreign platform lies in the withholding of capital gains tax. With a foreign platform, investors must personally determine their taxable income through self-assessment. This includes calculating gains and losses, establishing acquisition costs, and documenting relevant transactions such as purchase dates, quantities, fees, and wallet transfers.

Losses realized on foreign platforms can be offset against other capital income, but this process is carried out through the income tax assessment. The investor must provide reliable transaction data to support loss claims.