Until now, crypto-asset transactions were taxed under the rules applicable to traditional assets. Now, crypto-assets can also be treated as financial assets, and the taxation of transactions involving them includes a number of specific nuances.
According to Aune Maria Marjapuu, leading specialist at the ETCB’s Income Tax Department, when investing in crypto-assets, it is important to know that only crypto-assets acquired through a platform with a MiCA (Markets in Crypto-Assets Regulation) authorisation qualify as financial assets that can be acquired through an investment account. "The crypto-asset platform itself does not qualify as an investment account. In the ordinary system, losses from transactions carried out through a crypto-asset platform can only be taken into account if the platform has a MiCA authorisation," she noted.
Before declaring transactions made with crypto-assets, make sure that the platform held a MiCA authorisation at the time of purchase. This can be verified via the MiCA website and the Estonian register of crypto asset service providers.
In order to verify the existence of an authorisation, the ETCB has added 141 MiCA-authorised foreign crypto-asset platforms with authorisation dates in 2025 to the drop-down menu in Table 8.2 of the income tax return. "This makes it possible to verify whether the platform and the crypto-asset meet the applicable requirements, i.e. whether the crypto-asset was purchased after the platform received its authorisation. This makes it easier than before to declare such transactions correctly," said Marjapuu.
- If you made transactions with crypto-assets on a platform without a MiCA authorisation, only declare profitable transactions in Table 6.3 or 8.3 of your income tax return.
- If you have made transactions with crypto-assets on a platform with a MiCA authorisation and use the ordinary system, declare both profitable and loss-making transactions in Table 6.1 or 8.2.
- If you have made transactions with crypto assets on a platform with a MiCA authorisation and use the investment account system, declare your investment account deposits and withdrawals in Table 6.5 of your income tax return.
To defer income tax liability, an investment account must be opened with a bank, payment institution, e-money institution, or investment firm. It is also important to remember that in order to use the investment account system, financial assets must be acquired with money from the investment account.
If a crypto-asset trader has made a large number of transactions on a platform without a MiCA authorisation, the transactions may be aggregated. "In the case of multiple transactions, the transactions to be entered in Table 6.3 or 8.3 may be aggregated and shown as a single line in the income tax return. Even when aggregating, losses may not be taken into account. It is important that the person filing the tax return has a transaction-based calculation in a readable form, which can be used to verify the total amount," said Marjapuu.
In Table 6.1 or 8.2, only transactions involving the same crypto-asset may be aggregated, provided that the assets were acquired exclusively through a MiCA-authorised platform and the investor applies the ordinary taxation system. The acquisition date to be indicated is the date of the first transaction included in the aggregation. In this case, it is also important that the person filing the tax return has a transaction-based calculation in a readable form available to prove the total amount.
Income earned from trading crypto-assets must always be declared. The taxation depends on whether the platform holds a MiCA authorisation and whether the ordinary system or the investment account system is used.
Taxable income received in the form of crypto-assets must also be declared on the income tax return of a natural person. "Such income includes, for example, rental income and interest received in cryptocurrency, but also business income. Crypto-assets are essentially a means of exchange used, for example, in the sale and purchase of goods or services. They are also used for investment purposes aimed at preserving or increasing value," said Marjapuu. Crypto-assets include, for example, Bitcoin, Ether, Litecoin, Tether, etc.
More information on the taxation of crypto-assets and the declaration of transactions can be found on the website of the ETCB.
Income earned in 2025 can be declared until April 30. Sign in to the e-services environment e-MTA only via the official website emta.ee. More information about filing the 2025 income tax return is available on the ETCB website.
