Crypto.com Launches Tool to Simplify Crypto Taxes
The tax calculator is launching in Canada, but will later see a wider rollout.
Updated Sep 14, 2021 at 12:24 p.m. UTC
![calculator](https://www.coindesk.com/resizer/dGAMXKmJ3rlwXAhBAQNUUMKkSbs=/567x342/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4MCSHDDDFZDJ5DW4K3IHCDNQF4.jpg)
Crypto.com has launched a free service it says reduces the complexity of filing cryptocurrency tax returns.
- In a blog post Wednesday, the Hong Kong-headquartered exchange said its new tool provides "an estimation of taxable gains/losses on relevant crypto transactions," which can be downloaded for tax filing.
- Users can import transaction records from supported exchanges and wallets via CSV files or using API synchronization where supported.
- Initially, the service is only available in Canada but will later be rolled out to other jurisdictions.
- When that happens, the tool will use country-specific tax calculation formulas.
- “We worked with professional tax advisers to ensure that the calculation logic is consistent with available guidance and laws for filing crypto taxes in Canada,” said Crypto.com.