What taxes should I pay if I make a profit from Crypto trading? Have you bought cryptocurrencies (Bitcoin, Solana, Ripple, Ethereum or other Crypto) and have made a profit? The next article is dedicated to you, we will explain what you need to do if you have to pay Crypto tax.
What tax should I pay on Crypto?
The Crypto tax at the moment is 10% . There were numerous news, proposals, debates, etc. about the exemption of taxes on Crypto. We have documented these news in the article " Cryptocurrency tax: What taxes do you have to pay if you make a profit from cryptocurrency? "
If you have never bought cryptocurrencies, you need support, you are a beginner or you do not know where to buy in Romania, then the Abarai is the perfect place where you can start. You can call anytime you have a concern or a question, at the same time for those who already have cryptocurrencies you can do instant swap using the special service destined .
When should I pay tax on Crypto?
If you have purchased cryptocurrency and later you converted them into fiduciary coins (Fiat money), and following this conversion you obtained a profit of more than 600 lei during a year. Then you have to pay 10% of the profit obtained, I will give you an example to understand very clearly what taxes you need to pay. Example: Ana bought Bitcoin at the price of $ 10,000, the quantity she bought is 5 BTC.
4 months later the price of Bitcoin reaches $ 15,000, then Ana decides to sell all the BTC cyanity.
The tax that Ana must pay is $ 2500 below in the image the way I calculated the tax due to the Romanian state.
What is the easiest way to sell cryptocurrencies? The Abarai platform is the easiest way to sell your cryptocurrencies, you can opt for multiple currencies (lei, USD, EUR, GBP, CHF etc ...) and for multiple payment methods (credit card, debit card, paypal, skrill, netseller, separate, etc)
When should I not pay cryptocurrency tax?
Those who have obtained profits from under 600 lei in a year, are exempt from paying the tax on cryptocurrency.
Which cryptocurrencies should I pay Crypto tax?
In Law 129 of 2019 the following definition is presented 1) Virtual currencies means a digital representation of the value that is not issued or guaranteed by a central bank or a public authority, it is not necessarily related to a legally established currency and does not have the legal status of currency or money, but it is accepted by natural or legal persons, and can be transferred to the means;
So any digital representation of values that produced profit, is considered the virtual currency. So if you have made profit from Bitcoin or a meme coin that no one knows you have to pay Crypto tax.
What is the procedure for paying the tax on digital currency (cryptocurrency)
Until May 26, 2025 you must complete form 212 .
After you have completed this form that represents the unique statement you have several variants:
- Online on the ANAF (SPV) E-Government Website
2. Physical to the registry of the fiscal body (ANAF institution you belong to) or by post (recommended with confirmation)
You can find instructions to complete the single statement here
What do I suffer if I do not pay the tax on cryptocurrency?
- Penalties, interest and increases of about 0.02% per day from the amount due. More details can be found in the document published by ANAF
- If you have high income from cryptocurrencies, the state can interpret that you do tax evasion. If the amount exceeds 1m of lei you can make prison between 2 and 7 years
I bought cryptocurrencies from binance or revolut, do I have to pay tax?
Yes you have to pay tax, no matter where you bought cryptocurrencies you have to pay tax if you have made a profit. In the case of custody exchanges (which offers you digital wallet) there is also a historian that proves very easily that you have made a profit. At the same time, these entities report to the state authorities ( ANAF ) the activity of the clients.
Key aspects to be remembered
- You have to pay 10% of the profit obtained from cryptocurrency trading, this is Crypto tax
- Profit means you bought cheaper and sold more expensive, see example from here
- If you have obtained under 600 lei profit in one year, you do not have to pay tax
- No matter what cryptocurrencies you have traded, you must pay tax
- Regardless of where you bought cryptocurrencies or where you sold you, you have to pay tax
