A Bitcoin trader must use a different method to calculate his capital gains for personal income tax purposes, Finland’s top administrative court confirmed in a decision published Friday.
The decision of the court, dated Nov. 14, dismisses an appeal by an unidentified trader against a 2023 lower-court decision. The trader had bought and sold Bitcoin on several occasions since 2013.
In the appeal, the trader insisted on using the cost-average method, which by way of averaging acquisition costs tends to result in a lower tax liability during periods of rising Bitcoin prices.
However, according to the court, the ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.