Luxembourg tax settings

Hi I am from Luxembourg and am currently trying your free plan to see if Koinly suits my needs. Therefore i have a few questions: After I uploaded all the CSV I saw that the amount of my crypto gains was too high. I found out that Koinly also sees cashback as capital gain even if unsold.

  • In Luxembourg cashback is only taxable if the received crypto has been sold or converted either in FIAT or in CRYPTO.

  • Another thing is that capital gains on crypto are only taxed if they have been sold or converted before 6 months have passed (but i do not see any mention of this rule on your app or foum).

Are there some settings that can be changed? Is the 6 month long term rule considered in the calculation of the tax?
Can we verify if the rules correspond to reality?
Thank you in advance.

Hi @Efes

Thanks for your message. :blush:

  1. Are you able to attach a screenshot of one of the cashback transactions? Cashback would be classed as a deposit and shouldn’t be taxable.

  2. Yes, the tax reports will note your transactions as being short term or long term and will be calculated accordingly. :+1:t2:

Hi Carl, you are correct. I miss read cashback are not taxed.

But I noticed something else which I think is an issue, the long term holding is not considered as long term. Notice that in Luxembourg all asset held more than 6 month is free from capital gain tax. But when I checked my transactions I found many where this rule didn’t apply.
Is there a way to check these rules and tweak them if they are incorrect?

Thank you

Hi @Efes

Apologies for the confusion.

We already have the long-term threshold for Luxembourg set as 6 months, so when generating your “Complete tax report”, you will have a breakdown of total long- and short-term gains.

Dear Aria,
the support ticket does not work and I cannot add the official communication on this post.
Please provide me with an email.
Thanks

Has this problem been resolved, I see the same problem?
I’m from Luxembourg too and crypto I have kept longer then 6 month but under a year is still considered short term.
Thanks

Hi @VirtualCk

There is no issue with the reports. Capital gains from assets that have a holding period of over 6 months are marked as Long Term gains on your Complete Tax report.

Hi Aria
Ok, so it’s just not working for the “tax optimization” and “maturity assets” but working for the tax report, right?
Thanks

Hi @VirtualCk

The Tax Optimization and Asset Maturity features both consider the 6-month holding period so they should be working.

Hello,

Does the calculation take into account conversion between different coins? Is it a trigger for a taxable event?