The case

In Switzerland, owning cryptocurrencies as well as the realizing of some kind of capital gains of cryptocurrencies must be listed in the tax return. In order to declare them correctly, the value and the source must be declared. Tax treatment differs, depending on whether they stem from the private or the commercial wealth of the taxpayer. Each year the Federal Tax Administration (FTA) defines the tax value of the most common crypto-currencies as per December 31. Taxpayers are required to refer to this tax value in order to declare their virtual assets. If the FTA does not provide a value for a cryptocurrency, the holder is required to report the value as per December 31, which is defined by the platform on which the assets are held. If the platform does not determine the value of the virtual currency, the taxpayer is required to report the purchase value.

Source: rsm.global (highly abbreviated)

The commentary

In Switzerland, the capital gain from private wealth is exempt from income tax. This characteristic is also applicable to the capital gain realized on the cryptocurrency. Therefore, the capital gain realized as a result of the alienation of the cryptocurrency is not taxable.

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