Denmark Compliance Report

Regulatory Overview

Regulatory Status

Active legislative/regulatory process underway

Primary Legislation

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Travel Rule

Not adopted

Tax Reporting

**Speculative Intent:** A cornerstone of Danish crypto tax is the assumption of "spekulationshensigt" (speculative intent). SKAT generally assumes that individuals acquire cryptocurrency with the intent to profit from price fluctuations. This means that gains from the sale or exchange of crypto are almost always taxable, and losses are generally deductible.. **FIFO (First-In, First-Out):** For individuals, SKAT *mandates* the FIFO principle for calculating cost basis when selling or exchanging cryptocurrencies. You cannot choose LIFO, average cost, or specific identification. This is a crucial detail.. **Documentation:** Meticulous record-keeping is paramount. Taxpayers must be able to document all transactions, including acquisition dates, prices, disposal dates, prices, and exchange rates.. Selling crypto for fiat currency.. Exchanging one cryptocurrency for another (e.g., Bitcoin for Ethereum).

Key Facts

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