If necessary, Bybit allows you to download and check the calculated history of virtual currency transactions for tax purposes. If you make a profit, you are required to report it to the tax bureau as a tax return. Of course, if you do not file a tax return, you will be investigated by the tax bureau, which is a big disadvantage. Therefore, please be sure to report.
Profit and loss confirmation method
Is it possible to check profit and loss on Bybit? It’s possible. First, please log in to Bybit. If you have not yet opened an account, you can open a new account using the link below. Transaction history data can be downloaded by exporting it. On the selection screen, you can obtain data such as spot trading, leverage trading, mining, etc., and you can immediately obtain it as a CSV file. A detailed explanation and introduction is provided below.
Take a look at the management screen as shown in the image below. You can view each transaction history by clicking “Orders” at the top right of the home screen. Bybit allows you to easily operate the cryptocurrency exchange screen and search for information quickly. This transaction history data can also be used for tax returns. On each page of the menu, you can see a list of fees, contract details, asset management, funding fees, orders, staking, campaigns, handling stocks, etc.
The screen below is the order history displayed, and you can see all past transaction history in the same format. By specifying the period using the “date” listed, you can display the results for the past year without any problems, so please try it. Please note that there is a download button in the upper right corner, so you can save your transaction history as a file. You can select categories such as spot and derivatives from the top left.
Contact support
The above method is OK to check your transaction history, but if you don’t know how to do it, you can ask the support center staff to get it. To get the history, please contact support online chat or contact us email address. Please refer to the following article for details of the support center.
In case of no tax return
If you do not pay the tax correctly, various incidental taxes will be imposed as a penalty. This is common in any country. Please note that there are penalties such as:
overdue tax
Delinquency tax is levied when you do not pay the tax due by the court due date.
Additional tax for underreporting
Tax is levied when additional tax is incurred due to less declaration than actual and due to correction declaration etc.
additional tax for non-declaration
If you do not file your tax return by the due date, you will be taxed.
double tax
When additional tax is incurred, you will be taxed if you file a return that is not true or if you do not file a return.
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