The Cryptocurrency Tax Tool For The European Region

(MENAFN– EIN Presswire)

BYDFi announces partnership with Divly to make crypto taxes easy.

The difficulty of tax declaration is that the regulations differ between countries., so there is a need to rely on professional tax tools to solve the problem.

SINGAPORE, February 6, 2023 / / — As more and more people trade cryptocurrencies on exchanges, government controls and restrictions on cryptocurrencies are increasing alongside increased levels of crypto-tax enforcement. In light of these developments, bydfi , the most accessible cryptocurrency platform for novice and professional traders, is proud to partner with the tax tool divly .

When tax season rolls around, cryptocurrency traders are left asking various questions. For example, are crypto-to-crypto trades taxed? How are staking rewards treated? Unfortunately, with countries adopting different tax laws and regulations for cryptocurrencies, the answers require specialized knowledge that is often not readily available.

There is a need to rely on professional tax tools to solve this problem. Otherwise, traders risk failing to comply with local tax regulations and potentially missing out on tax benefits. Divly simplifies the process by providing a seamless approach to calculating and declaring crypto taxes by local tax regulations. The advantage is that it is highly localized, simple, and fast.

Divly is a company registered in Sweden. Compared with other tax tools on the market, Divly has a deeper understanding of European laws and regulations. It supports more than ten countries or regions, including Sweden, Finland, Norway, Denmark, the Netherlands, and Germany.

‘The difficulty of tax declaration is that the regulations differ between countries. As an exchange that wants to provide users with a better experience, I think it will be an important part for users to complete tax declaration within our platform,’ said Michael Hung, Co-Founder and CMO of BYDFi. ‘We are honored to cooperate with Divly, a highly localized tax tool, which allows our European users to complete tax returns most conveniently.’

BYDFi’s customers can use Divly to track and calculate their taxes painlessly. After downloading transaction history files from BYDFi, they can drag and drop them into Divly and get a complete overview of their crypto portfolio and taxable gains. The customer then can purchase a localized tax report for their country at a special 20% discount available to BYDFi customers. The tax reports include the necessary tax information and practical guides on how to declare their crypto taxes to the local authority.

About Divly
Divly is a Swedish-registered company that simplifies the process of tracking and declaring crypto taxes in accordance with local tax regulations. Divly provides an automated solution that seamlessly supports 100+ exchanges & wallets, 7000+ cryptocurrencies, and specialized tax exports for 10+ countries.

About BYDFi
BYDFi is a one-stop cryptocurrency trading platform with the most professional services. BYDFi provides users with a trading solution through Spot, Contracts for Differences (CFDs), Inverse perpetual contracts, USDT perpetual contracts, Grid trading, and Copy-trading services.

Jeanne Hsieh

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