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Since cryptocurrencies are a source of income for many, they are taxable and must be properly reported to the tax authorities. In this article, we\u2019ll discuss how to complete the Single Tax Declaration\/Form 212 for income earned from cryptocurrency trading.<\/p>\n
Declaratia Unica (Form 212) is a tax form that must be completed by all taxpayers who earn income from independent sources, including cryptocurrency trading. Gains become taxable when virtual currencies are exchanged for FIAT currency (RON, EUR, etc.).<\/p>\n The income tax is calculated by applying a 10% rate to the profit made, determined as the positive difference between the selling price and the purchase price, including any direct transaction costs.<\/p>\n Simply put, you subtract the price at which you bought the cryptocurrency and the transaction fees from the price at which you sold it. The resulting amount is your taxable gain.<\/p>\n If you received cryptocurrency as a donation or gift\u2014either from someone personally, through an airdrop, or via affiliate programs and savings services\u2014the purchase price is considered to be zero<\/strong>.<\/p>\n The gain must be reported in RON<\/strong> in the Declaratia Unica<\/strong>. Declaratia Unica must be filled out using the smart PDF format<\/strong>, which can be downloaded from the ANAF website<\/strong><\/a>. After downloading, right-click the file, choose „Open with”<\/strong>, and select Adobe Acrobat Reader<\/strong>.<\/p>\n In the video below, starting at minute 44:30<\/strong>, you can see a step-by-step guide<\/strong> on how to complete Declaratia Unica specifically for income from cryptocurrency trading.<\/p>\n
This form is used to calculate and pay the taxes owed to the state. For the 2024 fiscal year, the deadline for submitting Declaratia Unica is May 26, 2025<\/strong>.<\/p>\n2. What cryptocurrency income needs to be declared?<\/strong><\/h3>\n
\n\ud83d\udcb8<\/div>\nGains under 200 RON per transaction are not taxed, provided that the total gains in a fiscal year do not exceed 600 RON. However, if you have a single transaction with a gain exceeding 200 RON, that specific gain becomes taxable \u2014 even if your total annual gains are below 600 RON.<\/div>\n<\/div>\n
To convert your earnings into RON, you\u2019ll need to use the average annual exchange rate<\/strong> published by BNR (the National Bank of Romania)<\/strong> for the fiscal year in which the gains were made \u2014 in this case, 2024<\/strong>. For 2024, the average annual BNR exchange rate is 4.9746 RON for 1 EUR<\/strong><\/a>.<\/p>\n3. How to complete Declaratia Unica<\/strong><\/h3>\n