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Cryptos in the Swiss tax declaration 2023

John Sulger Büel
25.01.2024
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#cryptocurrency #taxes

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John Sulger Büel
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We show you what you need to consider when declaring your cryptocurrency in the 2023 tax declaration.

Do you own cryptocurrency? Then you have to declare your digital "coins" as taxable assets in your tax return. The Federal Tax Administration (FTA) has also published the year-end prices of the most common cryptocurrencies in the "Cryptocurrencies" price list.

Year-end exchange rates for cryptocurrencies as of 31.12.2023 in CHF

The year-end rates are calculated at the end of each year at an average value of various trading platforms and prices and are used by the cantonal tax authorities for assessment purposes.

Cryptocurrency Exchange rate at 31.12.2023 (CHF)
BTC Bitcoin 35'541.630896
BCH Bitcoin Cash 219.587313
ETH Ethereum 1'948.008419
LTC Litecoin 63.513972
XRP Ripple 0.524777
Cryptocurrency Exchange rate at 31.12.2022 (CHF)
BTC Bitcoin 15'345.739085
BCH Bitcoin Cash 89.511182
ETH Ethereum 1'109.251223
LTC Litecoin 62.841485
XRP Ripple 0.316784

The pitfalls of cryptos and the impact on tax returns

Declaration in the tax return

  • To be listed in the "Securities and Credit Balances Form".
  • Declaration by evaluating the year-end holdings in the wallet.

Property tax

  • "Official" market value by the Federal Tax Administration and, if this is not determined, at the year-end price of the trading platform.
  • If there is no market value: declaration of the original purchase price in Swiss francs.

Income tax

  • Salary payments in cryptocurrencies as taxable income from employment.
  • Income from staking, validator, etc. as taxable investment income.
  • Self-employed persons: Profits from trading in cryptocurrencies must be declared as income from main/subsidiary occupation.
  • Mining and transaction fees received also result in taxable income.

Commercial trading in cryptocurrencies

  • Profits taxable, losses tax-deductible.
  • Application of the requirements of FTA Circular No. 36.

Pay tax bills directly with cryptocurrency

Since 2021, tax debt in the canton of Zug can easily be paid with cryptocurrency.

Do you need support in declaring your cryptocurrency?

Do you own cryptocurrency but are unsure about the declaration? Then get in touch with us. Our tax consulting team will be happy to advise you.

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