Crypto is borderless, but crypto tax is not. On exactly the same gain, the tax you owe can swing from nothing to more than half — purely because of where you are tax-resident. We compared how a realized crypto gain is taxed in 19 countries in 2026, using the figures published in our country guides and each nation’s official tax authority.
The headline is stark: on a €10,000 crypto gain, you could owe €0 in Germany, Portugal, Luxembourg or Switzerland (under holding-period or private-investor conditions) — and up to roughly €5,200 in Denmark, where crypto profits are taxed as ordinary income.
From 0% to over 50% on the same gain
Germany, Portugal and Luxembourg reward holding — sell after 12 months, 365 days or 6 months respectively and the gain can be tax-free. Switzerland exempts private capital gains entirely (but levies a wealth tax on your holdings). At the other end, Denmark taxes crypto gains as personal income at rates that can approach 52%.
Illustrative tax on a €10,000 long-term gain
Illustrative only — the headline rate applied to a €10,000 gain, before personal allowances, brackets and individual circumstances. The Netherlands (wealth-based Box 3) and Belgium (regime-dependent) don’t fit a single bar and are covered in the table.
Crypto tax across 19 countries — the full comparison
| Country | Headline rate | Holding exemption | Crypto→crypto swap | Tax on €10k* |
|---|---|---|---|---|
| France | 31.4% flat tax (PFU) | No | Not taxable (since 2019) | ~€3,140 |
| Germany | Income rate within 12 months | Yes — 0% after 12 months | Taxable within 12 months | €0 (held >12 mo) |
| Portugal | 28% if held <365 days | Yes — 0% after 365 days | Not taxable | €0 (held >365 d) |
| Luxembourg | Income rate if held <6 months | Yes — 0% after 6 months | Taxable if within 6 months | €0 (held >6 mo) |
| Switzerland | 0% — private capital gains exempt | N/A | 0% (private) | €0 (+ wealth tax) |
| United Kingdom | 18% / 24% (since Oct 2024) | No | Taxable (disposal) | ~€1,800–2,400 |
| Ireland | 33% (CGT) | No (€1,270 exemption) | Taxable (disposal) | ~€2,900 |
| Austria | 27.5% (KESt) | No (pre-2021 grandfathered) | Exempt (except into stablecoins) | ~€2,750 |
| Spain | 19 → 28% (savings base) | No | Taxable | ~€2,000 |
| Italy | 26% (2025) — a 2026 rise is under legislation | No (€2,000 threshold removed from 2025) | Depends (same-type = not taxable) | ~€2,600 |
| Sweden | 30% (capital income) | No (losses 70% deductible) | Taxable | ~€3,000 |
| Denmark | Personal income (up to ~52%) | No (asymmetric gains/losses) | Taxable | up to ~€5,200 |
| Netherlands | Box 3 — taxes wealth, not the realized gain | N/A | No direct event | N/A (wealth model) |
| Belgium | Depends on regime (+10% solidarity >€10k since 2026) | Regime-dependent | Regime-dependent | Depends on regime |
| New Zealand | Marginal income 10.5 → 39% (no general CGT) | No | Taxable (disposal = income) | up to ~€3,900 |
| United States | Short-term = income; long-term 0/15/20% + NIIT 3.8% | Preferential rate after 1 year | Taxable (disposal) | ~€1,500–2,380 |
| Norway | ~22%* | No (+ wealth tax) | Taxable | ~€2,200* |
| Iceland | ~22%* | No | Taxable | ~€2,200* |
| Finland | 30 / 34%* (capital income) | No | Taxable | ~€3,000* |
* Illustrative application of the headline rate, individual situations vary. For Norway, Iceland and Finland the figure is the general capital-gains / capital-income rate; crypto-specific nuances are still being verified against each national authority.
What stands out
- The holding reward: Germany (12 months), Portugal (365 days) and Luxembourg (6 months) can take a long-term gain to 0%. France, Ireland and Spain do not reward holding.
- The swap trap: in most countries (UK, Ireland, Spain, the US…) trading BTC for ETH is a taxable disposal. In France and Portugal a crypto-to-crypto swap generally is not. Austria exempts swaps — except into stablecoins.
- The models apart: the Netherlands taxes your wealth (Box 3), not the realized gain; Switzerland exempts the gain but taxes the holding; Belgium depends entirely on whether you’re a normal manager, a speculator or a professional.
- The 2026 tightening: France (PFU raised from 30% to 31.4% — LFSS 2026, social levies up from 17.2% to 18.6%, applied retroactively to disposals from 1 January 2025), Italy (a rise toward 33% is under legislation), Belgium (a new 10% solidarity contribution above €10k), and the UK (18/24% since late 2024).
Why 2026 changes everything: DAC8, CARF, MiCA, 1099-DA
Automatic exchange of crypto information is going global. DAC8 (EU), CARF (OECD), MiCA (EU) and Form 1099-DA (US) mean tax authorities increasingly receive your exchange data directly — local and offshore. The tax gap above is now doubled by a compliance-risk gap for anyone who doesn’t declare.
Sources & method
- Figures are aggregated from the SafeTax country guides and each nation’s official tax authority (e.g. impots.gouv.fr, gov.uk, IRS, Bundeszentralamt für Steuern, Agencia Tributaria, IRD). No figure is invented.
- Amounts are illustrative applications of headline rates and exclude personal allowances, brackets, cantonal/state variation and individual circumstances.
- Dated or contested points are flagged in the table. Norway, Iceland and Finland are marked with an asterisk pending crypto-specific verification. This is educational information, not tax advice — always verify with your national tax authority.
Work out your own number
These are country averages. Your actual tax depends on your holding periods, your swaps and your cost basis. SafeTax imports your history from 500+ exchanges and wallets and produces a country-specific report you can file — one payment per report, no subscription. safetax.io.
Prefer to explore first? The free simulator lets you compare scenarios across countries before you commit. Open the simulator.
Frequently asked questions
Which country has the lowest crypto tax in 2026?
Germany, Portugal, Luxembourg and Switzerland can tax a long-term crypto gain at 0% — Germany after a 12-month hold, Portugal after 365 days, Luxembourg after 6 months, and Switzerland because private capital gains are exempt (though it levies a wealth tax on holdings).
Is swapping one crypto for another taxable?
In most countries yes — the UK, Ireland, Spain and the US treat a crypto-to-crypto swap as a taxable disposal. France and Portugal generally do not tax a crypto-to-crypto swap, and Austria exempts swaps except into stablecoins.
How much tax on a €10,000 crypto gain?
Illustratively, from €0 (Germany, Portugal, Luxembourg or Switzerland under holding/private-investor conditions) up to roughly €5,200 in Denmark, where crypto is taxed as personal income. France lands around €3,140 (31.4% since the 2025 tax year) and Sweden around €3,000 (30%).
Are these figures official?
They are aggregated from official tax authorities and the SafeTax country guides, and dated/contested points are flagged. They are illustrative and educational, not personal tax advice — verify with your national tax authority.
This study is general in nature and isn’t a substitute for personalised tax advice. Crypto tax treatment depends on your individual circumstances and rules change; figures are illustrative and should be verified with your national tax authority.