How Crypto is Taxed in Estonia

In Estonia, cryptocurrency held and traded via platforms like LBank is treated as property, not as a currency or security. For private individuals, profits from selling or exchanging crypto are taxed as income from the transfer of property and are subject to the standard personal income tax rate (22% in 2025). You must declare your crypto income each year in March/April for the previous calendar year, using the Estonian online tax portal. The portal typically opens around mid‑February, and the standard filing deadline is 30 April, though you should always confirm exact dates on the Estonian Tax and Customs Board (EMTA) website.

Taxable and Non‑Taxable Crypto Events

Many common actions on LBank can create taxable income when they result in a profit, including:

• Selling crypto for fiat, swapping one crypto for another, paying for goods/services with crypto, receiving staking rewards or interest, earning wages in crypto, and paying fees in crypto (because this is a disposal).

By contrast, buying crypto with fiat, moving assets between your own wallets or exchanges, donating crypto, or giving/receiving it as a gift are not taxable when they occur. However, these actions can affect future taxation through acquisition cost; for example, gifted or airdropped coins usually have an acquisition cost of 0 EUR, so the full sales price is taxable when you later dispose of them.

Calculating Gains and Handling Losses

To calculate your gain, subtract the acquisition cost (including eligible fiat fees) from the selling price or the market value of what you receive. EMTA allows you to use either FIFO or the Average Cost Method, but you must apply your chosen method consistently. In Estonia, crypto losses are not deductible, as crypto is not classified as a security. This means you only report and pay tax on profitable disposals; loss‑making trades on LBank are ignored for income tax purposes.

How Crypto is Declared in Estonia

In Estonia, you declare your crypto activity annually via the Estonian Tax and Customs Board (EMTA) e-services, usually from February. Once you have calculated your gains and income (including activity on LBank and other platforms), you must enter them in the appropriate parts of the resident income tax return.

Main Forms and Sections

Most individuals use Form A – Income Tax Return of a Resident Natural Person. If you mine crypto as a business, you also complete Form E – Business Income of a Resident Tax Person. On Form A, crypto is spread across several tables:

1. Tables 6.3 / 8.3 – Transfer of other property
2. Declare most taxable disposals here (selling crypto for fiat, trading crypto-to-crypto, using crypto to buy goods/services, derivatives and futures).
3. Estonian platforms → table 6.3
4. Foreign platforms (e.g., LBank) → table 8.3
5. You may group transactions by exchange if you keep an itemized list and supporting price data.
6. Tables 5.1 / 8.1 – Salary and other remuneration
7. Declare wages or other income paid in crypto on which tax has not been withheld, including staking rewards. Use part 2 of table 5.1 for Estonian payers and part 2 of table 8.1 for foreign payers. Staking rewards can be consolidated by platform; for grouped foreign income, you may use 31.12.20XX as the payment date.

Interest, Loans, Gifts, and Donations

1. Table 5.6 – Other taxable income: declare interest income from lending your crypto.
2. Tables 6.3 / 8.3: declare gains or losses when a crypto loan is repaid in fiat, or when you dispose of gifted crypto.
3. Table 9.4: declare donations of crypto to qualifying non‑profit organizations, foundations, or religious associations.

How to Track Your LBank Activity for Tax Reporting

Accurate tax reporting starts with having a complete record of your crypto activity. On LBank, this means exporting both trading data and funding-related transactions across spot, margin, and futures. Missing any of these can lead to incorrect calculations or issues later on.

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

This covers your actual buy and sell trades.

1. Sign in to your LBank account.
2. Open Trade and click Spot.
3. In the Spot interface, click the Order Center (clock icon).
4. Go to Transaction History and click Export trade record.
5. Set the date range so it covers all your trading activity.
6. Make sure all trading pairs are selected.
7. Click Generate Now.
8. When the status shows Generated, click Download.

This file is required to calculate capital gains and losses from spot trading.

Step 2: Download Your Funding-Related History

Trading data alone is not enough. You must also export deposits, withdrawals, transfers, and similar movements.

1. While logged in to LBank, stay in the same top navigation where you accessed Order Center.
2. Select Funding History.
3. Open the Spot History tab.
4. Set the date range to include all transactions.
5. For Type / Bill Type, select All.
6. Click Download.
7. Repeat for Margin History and Futures History if you use those products.

These funding files are essential to correctly track cost basis, transfers, and taxable income events associated with your LBank activity.

How to Use This Data for Your Tax Return

After downloading the files, you can use them to calculate your tax obligations with a crypto tax calculator designed for Estonia, such as Divly.

Divly helps you to:

1. easily import your data from the LBank platform,
2. calculate the income and expenses required for tax reporting,
3. generate a tax report that includes all the information you need to declare your crypto taxes to the Estonian Tax and Customs Board (EMTA).

This allows you to efficiently manage all your transactions and save time when declaring taxes on cryptocurrencies you have traded on the LBank platform.