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2020 tax return - wealth tax values for cryptocurrencies

The Swiss Federal Tax Administration (“SFTA”) has updated the 2020 exchange rate lists including several crypto assets.

The rates are a recommendation of the SFTA to the cantonal tax authorities. Most cantons accepts the values and thus, they are in principle binding for the declaration of wealth in the tax return.

However, due to the limited use for payment purposes as well as the volatility, technology and regulatory risk, a discount on the rates according to the list may be applied. In some cases, a flat-rate of 25% is accepted on similar alternative means of payment. Thus, a certain degree of caution should be exercised when using the exchange rates of the SFTA, especially in the case of material exchange rate fluctuations, also compared to the previous year’s exchange rate.

Here you can find the official exchange lists 2020 of the SFTA.

For any further questions or advice, please contact Cornelia Hager, Head of Private Tax Clients, hager@fineac.ch or Remo Merz, Head of Corporate Tax, merz@fineac.ch.

WHAT we do is not unique, but HOW we do it.

Remo Merz, 25 March 2021

Keywords: tax, tax return, crypto, crypto currency