Six European countries where crypto taxes don’t exist in 2023

In 2023, the gains made from the rise in the value of the crypto are only exempt from taxation in six European countries. This is according to a study by insurance broker Hellosafe. Other states tax crypto gains in different proportions. In this article, we propose you to discover the different tax rates of crypto gains in the European states in 2023.

Six European countries do not tax crypto in 2023

In the European states, each new year necessarily gives rise to the adoption of a new budget. Who says new budget sometimes means new taxation for certain economic sectors. This was notably the case in Italy, where the tax on crypto gains was increased to 26%.

Although the majority of European Union member states tax crypto, some European countries are a tax haven for crypto investors. According to an analysis note from insurance broker Hellosafe, six countries do not levy any tax on crypto gains. These are Malta, Cyprus, Greece, Slovenia, Estonia and Germany.

European states that do not tax crypto gains
European states that do not tax crypto gains

High taxation in other European countries

Unlike the six countries mentioned above, the other 21 European Union states tax crypto gains. According to Hellosafe data, the average tax rate for crypto gains in the European Union is 15.4%. However, there are wide disparities in taxation of crypto gains between EU countries.

Some states tax up to half of the crypto gains obtained by the investor. This is particularly the case in Belgium (50%) and Denmark (52%). This is followed by Ireland (40%), Finland (34%), the Netherlands (31%), Sweden (30%) and France (30%), which have tax rates of 30% or higher.

Under the heading of tax rates between 10% and 30% are 10 European countries. These are Portugal (28%), Austria (27.5%), Italy (26%), Spain (26%), Slovakia (25%), Czech Republic (23%), Latvia (20%), Lithuania (20%), Poland (19%), Hungary (15%).

For their part, Croatia, Romania, Luxembourg, and Romania impose a rate of less than 10% for the taxation of crypto gains.

image 1 - Coinpri
Crypto Tax Map

Still, it should be noted that the tax rate on crypto gains mentioned above is subject to certain rules in different states. In France, for example, it is the crypto gains above €305 that are taxed at 30%. The same is true in Italy, where the 26% rate only applies to gains over €2,000. A more detailed look at the financial regulations of each state is therefore necessary.

If you are a crypto investor residing in Europe, you now know where to set up shop to avoid being “robbed by the taxman”.