How to calculate your VALR taxes

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1 min read
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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with VALR that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your VALR account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

*Disclaimer: The information provided in this content does not endorse VALR. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.

What is VALR?

VALR is a South African based digital asset platform that enables customers to buy, sell, store and transfer cryptocurrencies. They also offer staking and futures trading.

Here's a breakdown of what VALR offers:

  • Cryptocurrency Trading: Allows users to trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and numerous altcoins.
  • Fiat Support: Supports deposits and withdrawals in South African Rand (ZAR), providing an on-ramp for local users.
  • Advanced Trading Features: Offers advanced trading tools and features, including real-time charting, order books, and market analysis.

How to automate your VALR crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your VALR account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.

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How are VALR Transactions Taxed?

Tax implications on your VALR transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on VALR:

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto for fiat
Earning staking rewards

Refer to our tax guides for a more detailed look at crypto tax rules.

Help Guides

Connecting your VALR account
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The Tax Screen
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The Tax Reports
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Automate your VALR tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

    Generate your tax report ready to self-file or share with your accountant

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FAQs

Do I have to pay tax on my VALR transactions?

Yes, you may need to pay tax on your VALR transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

Do the tax authorities know about my VALR transactions?

Tax authorities may become aware of your VALR transactions through various means, such as data-sharing agreements between crypto exchanges and tax authorities or during tax audits. It's essential to report your crypto transactions to avoid penalties accurately. Using a crypto tax software like Recap can help ensure your transactions are properly recorded and reported.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.