Denmark to tax crypto assets inventory

The Tax Law Council recommends inventory taxation for crypto assets like Bitcoin. Tax Minister Rasmus Stoklund supports this proposal and plans to introduce legislation in early 2025, as stated by the Ministry of Taxation. Inventory taxation means taxing gains regardless of whether the asset is sold. Current rules apply to only asset-based crypto assets, but the recommendation is to tax all crypto assets this way starting January 1, 2026. Lawyer Payam Samarghandi describes the proposed rules as ‘extremely far-reaching.’ The initiative follows The Tax Law Councils review of crypto taxation laws requested in summer 2021. In 2023, the Danish Tax Agency’s controls on cryptocurrency yielded tax claims of approximately 66 million kroner. Roughly 300,000 Danish citizens own crypto assets according to a survey.