Support for 'Deemed Acquisition Cost' for Finnish Tax Law
C
Celadon Falcon
Please add the possibility to utilise 'deemed acquisition cost' in a single transaction when determining the profits/losses of the given transaction. https://discuss.koinly.io/t/support-for-deemed-acquisition-cost-for-a-transaction-finnish-tax-law/8355
A
Aware Opossum
Wonder if this possibility is gonna come? Would help Finnish customers a lot
I
Increased Parakeet
Aware Opossum Absolutely! This feature is a must for Finnish tax calculations
I
Increased Parakeet
Also CoinTracking supports this out of the box. Speculative miners and other early adopters benefit from this calculation greatly when doing taxes, as if the price appreciates more than 5x it is economically better to use deemed acquisition cost instead of the real acquisition price.
A
Aware Opossum
Would be convinient. Divly has this possibility.
Y
Yellow sunshine Wren
Found this old question and there is also some thoughts about possible solution:
Y
Yellow sunshine Wren
Finnish users would like this. The Nordic competitor Divly has added this feature already.
P
Petur
Merged in a post:
Support for deemed acquisition cost for a transaction (Finnish tax law)
C
Cerise pink Possum
Please add the possibility to utilize “deemed acquisition cost” in a single transaction when determining the profits/losses of the given transaction.
As per Finnish tax law:
- The deemed acquisition cost can be used instead of the purchase price and the expenses incurred in making a profit. When calculating the amount of profit or loss, you can deduct the deemed acquisition cost from the selling price of the shares, instead of deducting the purchase price of the shares as well as the expenses incurred in making a profit or the taxable value of gift and inheritance tax.
- If you have owned the shares you sell for less than 10 years, the deemed acquisition cost is 20% of the selling price of the shares.
- If you have owned the shares you sell for at least 10 years, the deemed acquisition cost is 40% of the selling price of the shares.
source: www.vero.fi
G
Green Chickadee
Still nothing?
T
Thistle Otter
I cant recommend Koinly for anybody in Finland without this feature being implemented since this is a key part of crypto taxation in Finland. I think it is a bit misleading to even claim support with Finnish tax authorities without having this feature available.
Z
Zesty Penguin
This would be nice. I think this could be implemented so that it’s not even Finland specific.
S
Shamrock green Crocodile
This would be great! Currently it's not even possible to manually edit the cost or profit to make it correct.
"Deemed acquisition cost" can be always used if real cost is less than 20% of the selling price. So in a perfect world, Koinly would do this automatically if possible. But even a manual approach would work for starters.
Load More
→