The Complete Crypto Tax Guide For Finland in 2025

📌 Introduction

In Finland, cryptocurrencies are treated as virtual assets and are subject to taxation by the Finnish Tax Administration (Verohallinto). Crypto transactions can incur several different types of taxes, including the standard capital gains and income taxes.

This guide covers every type of tax crypto investors can expect to incur by investing, trading, and transacting in crypto. We’ll go over each type of taxable event, explain which type of tax it is subject to, when and how to file taxes, and strategies for reducing your total crypto tax bill each year.

📅 Reporting and Deadlines

• Tax Year Period: January 1 - December 31

• Filing Deadline: Reporting deadlines vary each year by profession/source of income. The 2025 deadlines are:

  • Entrepreneurs, Businesses, and Agricultural Operators: April 1

  • Wage and pension earners are assigned one of three deadlines: April 15, 22, or 29.

• Platforms and Forms: Reporting can be done through the MyTax online portal for Finland.

💼 Crypto Tax Basics

Taxable Transactions

• Selling or swapping crypto: Profits from selling or exchanging cryptocurrencies are taxable. Losses offset gains.

• Using crypto for payments: Taxable as capital gains, calculated as if the crypto was sold.

• Receiving crypto via work, mining, staking, or airdrops: Considered taxable income based on fair market value (FMV) upon receipt.

Non-Taxable Transactions

• Purchasing crypto with fiat: Not taxable.

• Transferring crypto between personal wallets: Not taxable.

• Small gifts: Gifts under €5,000 between individuals per year are tax-free.

Deducting Losses

• Capital losses: Can offset capital gains in the same tax year and the following five years.

• Carryforward: Unused losses can be carried forward for five years.

Key Allowances and Thresholds

• Tax-Free Income Threshold: Individuals with less than €1,000 in total sales of capital assets per year are generally tax-free.

  • If the amount exceeds €1,000, the entire amount is subject to tax.

💸 Income Tax Brackets

Finland employs a progressive income tax system with approximate marginal rates:

📈 Capital Gains Tax on Crypto

Cap Gains Tax Rate

• Two-tiered Progressive Tax Rate: The first €30,000 in capital gains are taxed at 30%. Total exceeding €30,000 is taxed at 34%.

Taxable Events

• Crypto sales or swaps: Profits are taxable regardless of the holding period.

• No distinction between short and long-term holdings.

Calculation Method

• Calculate net profits: Selling price minus purchase price and allowable expenses.

• No holding period discounts: All capital gains taxed equally.

• Tax rate: 

💰 Income Tax on Cryptocurrency

Several types of crypto transactions are subject to income tax in Finland, and are taxed at the taxpayer’s marginal tax rate (based on your income). Income taxes are calculated based on the fair market value of the tokens at time of receipt.

Taxable Income Sources

• Mining rewards, staking, lending, liquidity rewards

• Airdrops

• Crypto received for goods/services

Calculation Method

• Value crypto in EUR at receipt: Taxed as earned income.

• Subtract expenses directly related to earning crypto (business expenses, mining equipment, gas/transaction fees, etc.)

• Apply marginal income tax rates.

🔍 Other Tax Treatments

Lost or Stolen Crypto

• Losses from theft or loss are typically not deductible unless evidence of significant, uncontrollable circumstances can be provided.

Gifting and Inheritance

• Gifts: Tax-free up to €5,000 from the same donor in any 3-year period; higher amounts subject to gift tax. Gifts must be reported within 3 months of receipt.

• Inheritance: Subject to Finnish inheritance tax rules based on relationship and value.

🧾 Using Crypto Tax Software

Crypto tax software like Awaken Tax can significantly reduce the complexity of reporting taxes on your crypto transaction history. By compiling each of your wallets and accounts, syncing the transactions, and handling the calculations for you, we make it easy for you to find your total capital gains and income tax obligations.

Factors to consider before choosing the right crypto tax software for you include:

• Features: Transaction tracking, automatic classification, reporting capabilities.

• Compatibility: Check if compatible with OmaVero reporting standards.

• Support: Ensure robust customer support for Finland-specific queries.

💡 Reducing Crypto Taxes Legally

A few basic strategies can help Finnish taxpayers reduce their tax liability each year, including:

• Tax Loss Harvesting: Realizing losses when possible can help you offset taxable gains.

• Long-Term Holding: Limited benefit, as Finland doesn't differentiate by holding period. But you can reduce your tax impact this year by simply not selling and creating a taxable event.

• Deductible Expenses: Keep accurate records of all related expenses to reduce taxable income.

✅ Conclusion

Ensuring compliance and meticulous record-keeping is crucial for crypto taxpayers in Finland. Regular consultation with Finnish Tax Administration guidelines or tax professionals is also highly recommended.