Denmark to Consider Unrealized Cryptocurrency Capital Gains Tax Next Year
The new bill is expected to be presented to the Danish Parliament in early 2025, with the country's Tax Law Council recommending that the rules should not be implemented before January 1, 2026, at the earliest.
- The Danish Ministry of Taxation recommends taxing unrealized gains and losses on cryptocurrency assets in the same way it taxes stocks and bonds. Their 93-page report recommends that all digital assets should be taxed under a uniform set of rules.
Danish Tax Minister Rasmus Stoklund stated that many Danish crypto investors have been unfairly taxed under the standard capital gains tax. He suggested that new tax rules should establish a 'simpler' method for taxing crypto assets.
- The recommendations do not guarantee that the laws will take effect. Some media outlets misinterpreted the report, suggesting incorrectly that the tax changes were definite.
- The Danish Tax Agency estimates that about 300,000 Danes own bitcoin and other cryptocurrency assets.
