Currency exchange doubts
Hi,
due to my country's regulations (Italy), last year I had to close my Italian bank account and subsequently transfer all my savings (less then 150k SEK) to my Swedish bank account (transaction n.1). Later on I moved the same sum (transaction n.2) to another bank account (N26 bank), but since the N26 accounts are in EUR I lost a percentage of the sum in this process, due to the lower exchange rate EUR-SEK.
Scheme of the situation: I had x € (savings), I exchanged x € for y SEK and afterwards I sold y SEK for x-z €, where x-z<x.
My questions are:
- do I need to pay taxes for the transaction n.1?
- would I be entitled to a tax reduction of 30% of the loss of the transaction n.2?
Thank you very much.
Best regards,
Daniele
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Hi Daniele,
You don´t need to tax transaction n1.
You are entitled to a report a loss on transaction 2 and 70 percent of the loss is deductible and then you will get a tax reduction by 30 percent.
Kind regards
Daniel
Daniel Andersson är skattejurist hos Skattepunkten AB