Bitcoin Tax in All EU Countries (Capital Gains & Wealth Taxes)

If you’re a Bitcoin HODLer, this post might be not only relevant, but potentially life-changing for you.

Whether you plan to live off of $BTC or simply want to optimize your taxes while stacking, understanding the tax treatment of this asset is of utmost importance.

In this post, I’ll do a detailed breakdown of Bitcoin taxes in all EU countries.

Summary: Bitcoin Taxes Across Europe

As you can see, Bitcoin taxation usually boils down to the capital gains tax and the wealth tax of a country.

If you’re experienced, the table is probably sufficient.

But do read more for your country of interest in the details below.

Bitcoin Taxes in Austria

In Austria, profits from Bitcoin are taxed at the capital gains tax rate of 27.5%.

Bitcoin Taxes in Belgium

In Belgium, it’s possible to have a capital gains tax rate of 0% on when selling Bitcoin.

This rate is applicable if you’re considered a “prudent investor” (i.e. diligently investing his and his family’s money for the long-term).

For example, this rate is achievable by index investors that cost averaged during the years and now live off of his investments. The same rule should apply to bitcoiners that accumulated over time and didn’t trade.

For traders, speculators and any short-term positions, the capital gains tax rate is 33%.

Bitcoin Taxes in Bulgaria

The capital gains tax rate in Bulgaria is 10% and it’s applicable to profits from Bitcoin.

Bitcoin Taxes in Croatia

If you held Bitcoin for more than 2 years, the capital gains tax rate in Croatia is 0%.

Otherwise, it’s around 12%.

Bitcoin Taxes in Cyprus

Profits from Bitcoin are taxed at 12.5% in Cyprus.

However, foreigners that establish tax base in Cyprus can opt for the non-domiciled resident status and be taxed at 0%.

Bitcoin Taxes in Czech Republic

In the Czech Republic, profits from Bitcoin are taxed at the personal income tax rate.

This can vary between 15% and 23% based on the total income.

Bitcoin Taxes in Denmark

Denmark taxes Bitcoin profits at the personal income tax rate.

This means 27% up to ~€8k (total) income or 42% above it.

Bitcoin Taxes in Estonia

In Estonia, Bitcoin profits are taxed at the personal income tax rate of 20%.

The annual tax free exemption is ~€6k.

Bitcoin Taxes in Finland

In Finland, Bitcoin is taxed at the capital gains tax rate – 30% up to €30k, 34% above that.

Bitcoin Taxes in France

Bitcoin is taxed at the capital gains tax rate in France. This is between 30% and 35%, depending on the total income.

Not related to Bitcoin, but it’s worth mentioning that France also has wealth tax of 0.5-1.5% on worldwide real estate valued above ~€1.3m.

Bitcoin Taxes in Germany

In Germany, if you’ve held Bitcoin for more than a year, you can sell it at a 0% tax rate.

For short-term trades, the tax rate is around 47% (45% flat tax + “solidarity tax” + “church taxes”, where applicable).

Bitcoin Taxes in Greece

The capital gains tax rate for Bitcoin in Greece is 22%.

Bitcoin Taxes in Hungary

Bitcoin profits are taxed at the personal income tax rate of 15% in Hungary.

Semi-related, there’s something called a “TBSZ account” for Hungarian residents. Investments in this account are taxed at 0% after holding for 5 years. However, this is not a self-custodial solution and thus not recommended for bitcoiners.

Bitcoin Taxes in Iceland

Iceland has a capital gains tax rate of 22%, which is also applicable to Bitcoin profits.

Bitcoin Taxes in Ireland

Bitcoin profits are taxed at the Irish capital gains tax Rate of 33%.

The annual tax-free exemption is €1,300.

Bitcoin Taxes in Italy

In Italy, the capital gains tax rate applicable to Bitcoin is 26%.

There is also a wealth tax in Italy, with a separate rate for foreign real estate (around 0.8%) and movable assets (around 0.2%).

Bitcoin Taxes in Latvia

Bitcoin profits in Latvia are taxed at the capital gains tax rate of 20%.

Bitcoin Taxes in Liechtenstein

There are no capital gains taxes in Liechtenstein.

However, Liechtenstein levies wealth tax, which also includes Bitcoin. It’s calculated as an assumed growth of the total net-worth (4%) and then a personal income tax rate is applied on top of it. The income tax is relatively low in Liechtenstein (from 1% to 8%) and it depends on your total income/profits. The highest rate of 8% starts at CHF200k.

TLDR: you’ll end up paying around 0.2% of your total net-worth per year.

Bitcoin Taxes in Lithuania

Bitcoin profits are taxed at the personal income tax rates in Lithuania.

This means 15% until €238k, 20% on the amount above it.

Bitcoin Taxes in Luxembourg

Bitcoin profits are tax-free if Luxembourg if you’ve held it for more than 6 months before selling.

Bitcoin Taxes in the Netherlands

The Netherlands doesn’t have capital gains taxes.

Bitcoin is included in the wealth-based taxation. It’s calculated under the assumption that you’re realizing the stock market’s long-term returns (6%-8%) with your whole portfolio and then a 35%-36% rate is applied.

TLDR: you’ll end up paying between 1.5% and 2.5% of your total net-worth per year.

Bitcoin Taxes in Norway

In Norway, profits from Bitcoin are taxed at the capital gains tax rate of 37.84%.

Norway also levies wealth taxes of 1.1% on your net-worth exceeding NOK20M (~€1.7M).

Bitcoin Taxes in Malta

The capital gains tax rate in Malta is between 15% and 35%.

However, if you treat Bitcoin as a “store of value” (long-term positions, no trading, etc.), you can lower the tax rate to 0%.

Also, people that haven’t lived in Malta before can opt for the non-domiciled resident status and be taxed at 0%.

Bitcoin Taxes in Poland

In Poland, Bitcoin profits are taxed at the capital gains tax rate of 19%.

Bitcoin Taxes in Portugal

In Portugal, the capital gains tax rate for Bitcoin can be 0%.

This is applicable if you held it for more than a year. Otherwise, it’s 28%.

Directly unrelated to Bitcoin, note that Portugal has wealth tax applicable to real estate worth over €600k (0.7%) or €1M (1%).

Bitcoin Taxes in Romania

Bitcoin is taxed at the capital gains tax rate of 10% in Romania.

Bitcoin Taxes in Slovakia

In Slovakia, the capital gains tax rate for Bitcoin profits is 7% if held for more than a year and 21% if held for less than a year.

Bitcoin Taxes in Slovenia

Bitcoin profits currently aren’t taxed in Slovenia.

However, this is subject to change at any time.

For reference, profits from disposal of stocks are taxed at ~25%, which decreases every 5 years, ending at 0% after 15 years of holding.

Bitcoin Taxes in Spain

Bitcoin profits are taxed at the capital gains tax rates in Spain.

These range from 19% (until €6k) to 26% (above €200k).

Spain also levies wealth-based taxation between 0.3% and 3.5%.

As mentioned in my EU Investment Taxes post, it’s difficult to generalize the exact number as autonomous regions establish “tax reliefs” (deductions) for their tax payers, so it differs per location.

In general, individuals with net-worth between €3M and €10M will end up paying around 2%.

Bitcoin Taxes in Sweden

Bitcoin profits are taxed at the capital gains tax rate of 30% in Sweden.

Worth mentioning that Sweden offers something called an “ISK account” which effectively means opting for wealth tax treatment (of ~0.9%). Also, it means losing custody of your Bitcoin, so it’s not recommended.

Bitcoin Taxes in Switzerland

Switzerland doesn’t have capital gains taxes.

However, Switzerland applies wealth tax, but it’s quite different per canton, so it’s hard to generalize.

For example, in Zurich, the wealth tax rate starts at 0.05% from CHF77k and increases to 0.3% from CHF3.1M.

Afterword

There are quite a few places in Europe where you can sell and spend Bitcoin tax free.

Consider this post a starting point for your further research, without any guarantees for correctness or completeness.

Feel free to reach out for questions or comments. For more content like this, subscribe below.

Need a step-by-step guide to buying Bitcoin and securing it safely with a hardware wallet? Head to: The Self Custody Manual.

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