Crypto taxation

Cryptocurrencies
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Crypto taxation is still a very unfamiliar topic for many, and that’s why I think it should be discussed more.

Only about one-tenth of taxpayers report crypto income. With the help of new regulations, however, the Tax Administration will receive much more information automatically about crypto investors’ activities from 2026 onwards. So now it is more important than ever to familiarize yourself with crypto taxation.

Crypto taxation in a nutshell

In Finland, profits from cryptocurrencies are mainly taxed as capital gains. In practice, a tax liability arises whenever crypto is used. For example, when crypto is sold for euros, exchanged for another crypto, or used for payments - in these cases, a capital gain is calculated (selling price minus purchase price). Capital gains tax is paid on the profit: 30% up to 30,000 euros and 34% for the portion exceeding that. Crypto rewards (e.g., mining or staking) are also taxable income. Small disposals may be tax-exempt if the total sum of all sales remains under 1,000 euros during the year - however, all assets are counted together for this limit (e.g., stocks and cryptos).

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  • ElmoX
  • Nordic Law
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A tax official called me regarding my tax return, and I took the opportunity to ask about cashback. I used the Crypto.com card as an example, where anyone gets a certain cashback percentage, and by staking, you get a higher percentage (nowadays also via a monthly fee). I asked if the taxable portion is only the difference between the universal cashback and the higher cashback, or the entire amount. The official couldn’t answer directly, so they consulted an expert and got back to me later.

The result: the entire cashback is taxable for a user who is staking.

Since this doesn’t feel entirely logical to me, I suggested they clarify their current guidelines, as they can easily be misunderstood at the moment. They said they would move the matter forward.

The current guideline states:

“There is, however, an exception to the taxation of cashback rewards. The reward is tax-free income if it is based on the purchase of goods and services with a payment card, and the cardholder is not required to hold or lock (stake) crypto assets to receive the cashback reward. For example, if a crypto asset service grants all its users a minimum reward (e.g., 1% on card purchases), this reward is tax-free income.”

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