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Description

Easy to implement and global crypto tax APIs for your business or Web3 project. We have the right solution for you, whether you are a crypto trader or investor. Fyn (formerly BearTax), has been helping traders and investors calculate and report on Crypto taxes since 2018. With our APIs, we are now able to bring that ease in automation, accounting and reporting to Web3 businesses. Enjoy a mobile-friendly UX, support of multiple commercial models, global reach with our APIs. Fyn can help you scale and grow your Web3 investment and Web3 business.

Description

If you have engaged in the buying, selling, earning, receiving, or any other form of acquiring digital currencies within a particular tax year, it's highly likely that you must report any profits or losses on your tax return. If there's any uncertainty regarding your obligations, consulting with the Inland Revenue or your accountant is advisable. In New Zealand, the Inland Revenue classifies digital currencies as a category of property. Their guidelines for cryptocurrency taxation specify that profits or losses must be assessed using the First in First Out method, converting values into New Zealand Dollars at the time of each trade, even when the transactions are between different cryptocurrencies. This process can be quite complex and may require several days to sort through, even with just a few trades. If you've incurred a loss, it could potentially be deducted from your income tax, providing some relief. Our advanced algorithms simplify this process by automating the necessary currency conversions and calculating your trading and mining profits and losses in line with Inland Revenue's regulations. Simply provide us with your exchange exports and mining addresses, and we will handle the rest to ensure your compliance and accuracy. This way, you can focus on your investments without the tax-related stress.