Crypto taxes in Finland

How crypto is taxed in Finland

In Finland, the Tax Administration treats cryptocurrency as property, not as an official currency. This means taxation works a bit differently depending on how you received or used your crypto.

Capital income: sales, swaps, and investment returns

Most crypto-related events are taxed as capital income. Capital income tax rates are:

30% on capital income up to €30,000
34% on the portion exceeding €30,000

You typically generate capital income when you:

sell crypto for euros,
swap one cryptocurrency for another,
pay for purchases with crypto,
trade futures, margin, or other derivatives,
earn returns from staking or lending,
sell NFTs as an investment.

Simply buying crypto or transferring it between your own wallets is not a taxable event. You can offset capital losses against capital gains in the same year and for the following five years, provided you actually sold the crypto. If the value drops but you don’t sell, you cannot deduct the loss. This is regulated in Section 50 of the Income Tax Act (in Finnish).

You can also choose to use the deemed acquisition cost (hankintameno-olettama): 20% of the selling price (if held less than 10 years) or 40% (if held more than 10 years). In that case, you don’t need exact purchase prices, and the taxable gain is at most 80% or 60% of the selling price. Guidance is available in the Tax Administration’s capital income guide.

Earned income: salary, mining, and active rewards

Crypto is treated as earned income if you receive it for work or active engagement, for example:

salary or freelance compensation paid in crypto,
mining income,
rewards from tasks, referral programs, or games that require active participation.

Earned income is taxed progressively, meaning the tax rate increases as your income grows and can exceed 40%. The value is calculated in euros at the moment you receive the crypto, in the same way as with other types of earned income. Once you understand what counts as capital income and what counts as earned income, you are already well on your way with crypto taxation in Finland.

Declaring crypto in your Finnish tax return

When filing your tax return, you usually report your crypto in the Tax Administration’s OmaVero service. Most people file in the spring; your exact deadline is shown on your pre-completed tax return.

How to proceed in OmaVero

Log in to OmaVero. Go to: Personal income tax → Pre-completed tax return → Check pre-completed tax return → Correct the information on the pre-completed tax return. Then:

Capital gains and losses:
Go to Other income → Capital income → Capital gains.
Select Yes and add a new disposal → Virtual currencies.
Make two separate entries:
one for all gains
one for all losses
For both entries, report:
total selling price
total acquisition cost
any selling expenses
Mining, staking, and airdrops:
Mining income: Other earned income.
Staking and airdrop income: Other capital income.
Always use the fair market value at the moment you receive the crypto.
Deduct expenses in the same income category where the income is reported.

Attachments and PDF file

The Tax Administration also wants supporting documents. You must attach a PDF that includes:

transaction history
calculations of gains and losses

Upload the file in OmaVero under Attachments → Virtual currencies attachment. Once your figures and attachments are in order, reporting your crypto in your tax return is surprisingly straightforward.

How to track LBank transactions for taxes

To handle your crypto taxes correctly in Finland, you need a complete list of all your LBank transactions. It’s not enough to track only buys and sells – you also need to include deposits, withdrawals, transfers, and all markets (spot, margin, futures). Once you’ve downloaded all this data, you can later calculate your capital gains and losses and other taxable items accurately.

Step 1: Download Your Spot Trading History (Order Center)

In this step, you’ll export your actual buy and sell transactions.

Log in to your LBank account.
In the top menu, open Trade and click Spot.
In the Spot view, click Order Center (the clock icon).
Go to Transaction History and select Export trade record.
Set the time range so that it covers your entire trading history (not just the last month).
Make sure all trading pairs are included.
Click Generate Now.
When the status shows Generated, click Download and save the file to your device.

This file is what you’ll use to calculate capital gains and losses from spot trading for Finnish tax purposes.

Step 2: Download Funding and Transfer Activity (Funding History)

Trading data alone is not enough for taxes. You also need to export deposits, withdrawals, transfers, and other fund movements so you can clearly see where and when your crypto came from and where it went. Do the following:

Stay logged in to LBank and in the same top menu area where you found Order Center.
Select Funding History.
Open the Spot History tab.
Set the time range long enough to cover your entire usage history (ideally your whole time on LBank).
In Type / Bill Type, select All so that every transaction type is included.
Click Download and save the file.
If you have used margin or futures trading, repeat the same steps for the Margin History and Futures History tabs.

With these files, you can trace where your funds originally came from and how they’ve moved. This makes things much easier when filling in your tax return and checking your information against, for example, the Finnish Tax Administration’s crypto guidelines.

Using your transaction data to file taxes

Once you’ve downloaded your LBank transaction history, you can use this data to make filing your tax return easier. The simplest way is to use a crypto tax calculator tailored for Finland, such as Divly.

Divly helps you:

import your transactions from LBank as easily as possible
clearly calculate your capital gains and losses
generate a tax report that includes all the required information and attachments

This way, you get all your LBank trades compiled into one clear report, save time, and can file your crypto-related taxes with confidence.