Switzerland has always tried to stay at the forefront of cryptocurrency since its inception. It has been the first country in which companies have accepted cryptocurrency in local businesses. These innovations allowed Switzerland to establish itself as the most crypto-friendly country in the world. As part of this innovation, there has been a recent boom of crypto start-ups in Zug. As a result, it has been nicknamed «The Crypto Valley», the «Silicon Valley» of cryptocurrencies. To further strengthen «The Crypto Valley» in Zug even taxes can be paid in Bitcoin.
For BDO Switzerland it has always been important to adapt to new technologies and trends. BDO was facing a technical barrier to track and manage cryptocurrencies to adopt cryptocurrency advisory to our services.
Hence, BDO Switzerland recently partnered up with ACCOINTING.com, a crypto tax tool with a portfolio tracking app. The tool provides a reliable overview of the crypto asset portfolio of each user by connecting wallets, exchanges, and other crypto services and additionally - and this is the major reason for the partnership - a country-specific tax report.
The use of the tool is free of charge as long as no tax report is to be generated. We find that the freemium option is an excellent opportunity for newcomers to try the tool and test the usability.
The partnership’s main goal, between BDO and ACCOINTING.com, is to provide further direction on the crypto taxation guidelines in Switzerland. That is why we are convinced that a partnership between ACCOINTING.com and BDO will provide a huge benefit for all crypto owners in the future. BDO Switzerland has already been working closely together with ACCOINTING.com to improve the overall crypto tax experience.
ACCOINTING.com has managed to get more than 130,000 users in the last year, and it is currently together with BDO expanding throughout the globe.
BDO Switzerland believes in this long-term partnership with ACCOINTING.com. Creating educational content, advising cryptocurrency traders, and helping local accountants understand the difficulties of crypto taxation in Switzerland are only a few initiatives we are currently working on.
And that is why we are convinced that this partnership between ACCOINTING.com and BDO will provide a huge benefit for all crypto owners, and we are really looking forward to providing more valuable resources to Swiss citizens to simplify their crypto taxes.
We believe of the long-term establishment and acceptance of cryptocurrencies in our daily life and to prove our conviction BDO will allow Bitcoin and Ethereum as payment methods from January 1, 2022.