Support for 'Deemed Acquisition Cost' for Finnish Tax Law
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
Found this old question and there is also some thoughts about possible solution:
Finnish users would like this. The Nordic competitor Divly has added this feature already.
Merged in a post:
Support for deemed acquisition cost for a transaction (Finnish tax law)
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.
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.
This would be nice. I think this could be implemented so that it’s not even Finland specific.