Fewer than 1 in 6 Finnish crypto traders declare dealings, tax office says
From next year, the tax authority will receive crypto trade data from Finnish brokers as well as from foreign platforms.
Only around one in six Finns who traded cryptocurrency reported their activities to the tax office last year, according to the Finnish Tax Administration. The administration estimates far more Finns were involved in the market, likely at least 100,000 people. Tax expert Juho Hasa revealed that just 15 percent of those obligated to declare crypto trades followed through.
Failing to do so can result in tax penalties, interest fees, or even criminal charges. In 2025 alone, investors declared crypto sales worth 3.3 billion euros. Antero Törhönen, head of the Finnish Bitcoin Association, posits that declaring crypto trades is complicated due to the challenge of compiling sales data, especially when coins are held across multiple wallets or exchanges.
He suggests that if investors hold their investments, they can avoid declaring them, as Finland has not had a wealth tax in 20 years. The tax authority must currently request data from brokers and exchanges, but next year, it will automatically receive such information from Finnish brokers. This change, coupled with data from foreign trading platforms via the Crypto-Asset Reporting Framework (CARF), will more than triple the number of crypto investors within the tax authority's reach.
Written by urgent.news from Yle News Finland's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
