I trade cryptocurrencies, how much taxes do I have to pay?

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Are cryptocurrencies taxable? In Belgium, there are three cases:

1- You are a "novice"

You invest in cryptocurrencies as a hobby or a test investment, then your investments are exempt from taxation. However, the conditions are that you take few risks and you make long-term investments (we’re talking about several years).

2- You are a private trader

You take risks with your investments in cryptocurrency and you buy and sell them regularly with the aim of making a short-term profit. You must declare your profits from buying and selling cryptocurrency in your tax return as diverse income and it will be subject to 33% tax.

3- You are a professional trader

Trading cryptocurrency is your main job. You must then apply the rules that apply to all self-employed people: you must declare your cryptocurrency income in your tax return and your net annual income will be subject to progressive income tax (between 25 and 50%).

Author - Valesca Wilms

As content marketing lead at Accountable Belgium, Valesca writes about freelancing, self-employment, and taxes based on her own experience as a freelancer.

Who is Valesca ?