Austrian Taxman Cracks Down on Bitcoin ATM Sales

Austria's tax rules for selling Bitcoin at an ATM are complex and require careful consideration. According to the Austrian financial market authority, two-way machines can be used to sell Bitcoin in exchange for euros, which constitutes a taxable event.

The gain from selling Bitcoin at an ATM is taxed at 27.5 percent for coins acquired after February 28, 2021. The taxable figure is the difference between the sale proceeds and the tax acquisition costs of the coins sold, rather than the full cash amount handed over.

The ATM operator may not always withhold capital gains tax, so it's essential to understand the rules and report the gain yourself in your Austrian income tax return.