The country's Tax Administration claims to have "different ways to combine information and identify people" who owe taxes from crypto profits, which are now "well over ten times higher than last year."
Most Finns Have Not Paid Taxes on Crypto Gains
Most Finns have not reported income to the country's tax department from the sale of cryptocurrencies in previous years, Kauppalehti newspaper reported last week. This year, "the profits made by Finns from cryptocurrencies were well over ten times higher than last year," the news outlet added.
Senior Adviser from the Tax Administration's Corporate Taxation Unit, Timo Puiro, detailed:
The majority of people have previously failed to report their bitcoin-related income, which we have found when we compare the information we collect to the tax information reported…The Tax Administration has extensive access to information, for example, to payment information, and we have different ways to combine information and identify people.