Exit taxation for Austria (non-eu person)

[Aushaven]

I am a non EU person who came to work in Austria with a short term contract for 3 years.
- bring a crypto portfolio with me to Austria (from overseas)
- do some crypto investing/trading within Austria from the crypto portfolio, never used fiat to buy or sell any crypto
- tax filled and paid by employer (I dont have to do anything)
Now I would like to leave the country to go back to home country. Will I get taxed on my crypto portfolio?

 

[Martin Everson]

- bring a crypto portfolio with me to Austria (from overseas)

Is tax authority aware of your crypto holdings?

- do some crypto investing/trading within Austria from the crypto portfolio, never used fiat to buy or sell any crypto

If taxman is aware and unless you made a loss on every crypto to crypto trade then tax may be due on any gains.

https://www.bmf.gv.at/en/topics/taxation/Tax-treatment-of-crypto-assets.html

Now I would like to leave the country to go back to home country. Will I get taxed on my crypto portfolio?

How Exit Taxation works in Austria.

https://www.bmf.gv.at/en/topics/tax...-or-income-from-realised-value-increases.html
Then this example below from 2019. Which makes me think your ok unless rules have tightened. I would get tax advice if you declared your crypto in Austria.

https://www.lexology.com/library/detail.aspx?g=fa82d1c0-d4c4-494b-b886-842eec3fd566
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In a recently published ruling, the Austrian Ministry of Finance dealt with the question whether Austria had a right to levy exit tax on capital gains as a result of the relocation of a taxpayer from Austria to Canada (EAS 3412).

Generally, exit taxation within the meaning of sec. 27(6)(1) of the Austrian Income Tax Act (Einkommensteuergesetz) is triggered when, inter alia, a taxpayer, holding shares and bonds as a non-business asset (Privatvermögen), moves his or her residency from Austria to another country. The relocation normally restricts Austria's right of taxation and is therefore considered equivalent to a taxable sale of the respective assets.

The double taxation treaty concluded between Austria and Canada ("DTT"), however, contains some special rules in this respect: Art. 13(5) of the DTT generally allocates the right to tax profits from the sale of assets (including shares and bonds) to the state of residence of the seller (i.e., Canada in the case at hand). Art. 13(6) of the DTT, however, provides for the taxation right of Austria for a further period of five years after the move of residency, provided that the taxpayer concerned is an Austrian citizen or was resident in Austria for at least ten years prior to the sale of the assets.

In this respect, exit tax is only triggered after such five-year period. A sale of the assets during the five-year period would lead to the capital gains being taxable in Austria, with Austria retaining the taxation right under the DTT.

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[Aushaven]

Tax authority is not aware of my crypto; but I would prefer to play by the book to be safe (though I have minimal footprint in their system). My concern is that whatever profit/loss I make here on my crypto have to to be certified in order to withdraw back to bank account in my home country. I dont think (but I need to look further) I can withdraw crypto gains without a certificate of taxation from Austrian authority.

Recently Austria has reformed its crypto taxation law, and so crypto obtained before 01.03.2021 are called "old assets" and is subjected to old laws which make them tax free if holding >1y. New assets will have exit tax at 27.5% and crypto to crypto tax free (including usdt,usdc).

The case you mentioned is not very relevant as it concerns stocks. At most I can delay exit taxation but not avoid I think.

 

[TheCryptoAnt]

[...]
New assets will have exit tax at 27.5% and crypto to crypto tax free (including usdt,usdc)

https://www.bmf.gv.at/en/topics/taxation/Tax-treatment-of-crypto-assets.html
What Aushaven says is there:

Trading one cryptocurrency for another cryptocurrency does not constitute a disposal, and such trades are not taxed. In addition, any expenses associated with such trades (such as transaction costs) are not deemed significant for tax purposes, and are therefore not taxed at the time of the trade. In this situation, the acquisition costs of the transferred cryptocurrencies are carried over to the cryptocurrency acquired in the trade.

This is very interesting for crypto traders, always trade against stablecoin and exit to FIAT at 27.5% which yeah its not perfect but way better than being taxed per each transaction.
Additionally when your stack is big and you wanna exit just move to a 0% jurisdiction and exit to FIAT there.

 

[CyprusLawyer101]

A good option is to depart your crypto into a foreign company ( various options exists and depending on each case ).
Once the crypto is out of your ownership and to a tax favorable environment, you can then leave the country unobstracted. You still have to look into Austrian tax rules concerning foreing holdings of shares , but usually this is not much trouble.