Selling Bitcoin Privately: What Tax Applies in Austria

Selling Bitcoin Privately: What Tax Applies to Direct Sales in Austria

Bitcoin does not have to be sold through a crypto exchange. Buyer and seller can also agree directly and move the coins from one private wallet to another.

For tax purposes in Austria, however, that generally makes no difference. Anyone who disposes of bitcoin for euros or another legal currency generally realises a taxable event, regardless of whether a crypto exchange sits in between.

The Gain Is Taxed, Not the Sale Price

What matters is the difference between the sale proceeds and the acquisition cost for tax purposes.

Example:

• bitcoin bought for 15,000 euros
• later sold directly to a private buyer for 30,000 euros
• taxable gain: 15,000 euros

For bitcoin acquired after February 28, 2021, the special tax rate of 27.5 percent generally applies. In the example, that would generally come to 4,125 euros in tax.

Cash Changes Nothing About the Bitcoin Tax

Payment in cash does not make the transaction tax-free either.

Whether the buyer:

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