Crypto Tax Filings Double in Finland

Finnish authorities have reported a significant increase in crypto tax filings since their heightened regulatory crackdown. The surge in filings is driven by Finland’s tax law, which demands 30% of crypto capital gains exceeding €1000. Finnish taxpayers have been declaring their crypto-income since this crackdown, with filings increasing from 3,400 to 150,000 two years later. 

In 2023, the Finnish Tax Administration discovered about €30 million in unreported crypto gains, causing the investors to pay a €10 million fine. Finland’s enforcement highlights its ongoing compliance efforts to bolster accurate tax reporting as the crypto landscape evolves. Finland is poised to implement the EU’s DAC8 directive. The law stipulates that crypto exchanges report user data to tax authorities before January 2026.