{"id":18044,"date":"2024-10-24T12:43:24","date_gmt":"2024-10-24T09:43:24","guid":{"rendered":"https:\/\/forklog.com\/en\/denmark-to-consider-42-tax-on-unrealized-cryptocurrency-gains\/"},"modified":"2024-10-24T12:43:24","modified_gmt":"2024-10-24T09:43:24","slug":"denmark-to-consider-42-tax-on-unrealized-cryptocurrency-gains","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/denmark-to-consider-42-tax-on-unrealized-cryptocurrency-gains\/","title":{"rendered":"Denmark to Consider 42% Tax on Unrealized Cryptocurrency Gains"},"content":{"rendered":"<p>In early 2025, Denmark&#8217;s Tax Law Council will <a href=\"https:\/\/skm.dk\/aktuelt\/presse-nyheder\/pressemeddelelser\/ny-rapport-fra-skattelovraadet-kryptoaktiver-boer-fremover-lagerbeskattes\">introduce a bill<\/a> to tax unrealized profits from cryptocurrencies.<\/p>\n<p>The proposal aligns with the <a href=\"https:\/\/www.investopedia.com\/terms\/m\/marktomarket.asp\">mark-to-market<\/a> principle, requiring annual payments to the state for positive revaluations, regardless of whether digital assets are sold.<\/p>\n<p>The bill is expected to include a requirement for crypto service providers to report their clients&#8217; transactions.<\/p>\n<p>The recommendations aim to &#8220;eliminate asymmetry in the taxation of profits and losses.&#8221;<\/p>\n<p>According to the Council, discussing the initiative posed certain challenges due to the nature of crypto assets, &#8220;which are not centrally regulated by organizations such as the government or central bank.&#8221;<\/p>\n<p>The legislative body recommended that the tax rules take effect no earlier than January 1, 2026.<\/p>\n<p>Mads Eberhardt from Steno Research predicted that the tax rate on unrealized capital gains would be 42%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Denmark becomes the first country in the world to tax unrealized capital gains on crypto, starting January 1, 2026. The tax on unrealized capital gains is 42%.<\/p>\n<p>This will affect not only crypto acquired from that date but also crypto obtained as far back as the genesis\u2026<\/p>\n<p>\u2014 Mads Eberhardt (@MadsEberhardt) <a href=\"https:\/\/twitter.com\/MadsEberhardt\/status\/1849151928401306059?ref_src=twsrc%5Etfw\">October 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;This will affect not only cryptocurrencies acquired from the current date but also coins obtained as far back as January 2009, when Bitcoin emerged. The gloves are off. This is a war on cryptocurrencies,&#8221;<\/em> commented the expert.<\/p>\n<\/blockquote>\n<p>Earlier in October, ForkLog reported on Italy&#8217;s plans to increase the capital gains tax on cryptocurrencies to 42%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In early 2025, Denmark&#8217;s Tax Law Council will introduce a bill to tax unrealized profits from cryptocurrencies. The proposal aligns with the mark-to-market principle, requiring annual payments to the state for positive revaluations, regardless of whether digital assets are sold. The bill is expected to include a requirement for crypto service providers to report their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1703,558],"class_list":["post-18044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-denmark","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"50","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18044"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18043"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}