Do young people pay tax on cryptocurrency?

Young people are always active and open to new things, and cryptocurrencies are no exception. About 20% of boys and girls aged 15 to 25 are already investing in cryptocurrencies, and among those young people who do not, 62% are planning to start such investments. At the same time, according to a study conducted on behalf of the tax authorities, 19% of young people are confident that they do not need to pay taxes on such investments, and about a quarter of the remaining do not know the answer to this question.

Tax authorities clarify the situation on your website. Cryptocurrencies belong to Box 3 tax return, investments and savings in this box are recorded on January 1 of the year for which the declaration is submitted. Their further change, for example, the rise or fall of the cryptocurrency rate, does not affect the tax, so you need to declare cryptocurrencies. Those who have reached the age of majority (18 years old) submit declarations themselves, and the cryptocurrency of minors is entered into Box 3 of one of the parents. 

Do you want to file your returns accurately, get the maximum refund, or legally pay the minimum possible taxes? Order filing a declaration from specialists!