What is a Tax API reporting tool?

The Tax API reporting tool allows users to transfer their read-only user transaction history and capital gain and loss records on Bybit to third-party tax vendor tools. By connecting Bybit users' API Secret Key and API Key to the third-party tax vendor tools, the "API Sync" function of the third-party platform will collect transaction history and records of more than one financial year for tax filing. Users can gain real-time visibility into their local tax responsibilities.

 

Is this Tax API tool available for all Bybit users?

No. The Tax API reporting service is not available for institutional users, but available for all other Bybit users.  

 

What are the benefits of the Tax Reporting tool?

• File your taxes easily
• Protect your financial data when requesting your transaction history, as your information is only accessible as read-only.
• Integrate Bybit’s reporting tools with your preferred third-party tax vendor tools

 

How do I know if I have to pay taxes when trading cryptocurrencies?

This depends on the tax requirements of the individual user's country. For more information, please refer to your respective country’s tax guidance and cryptocurrency updates.

 

How to use the Tax API Service on Bybit?

First, you need to create a Tax API key on Bybit, then head to the third-party tax vendor platform to connect them. For more information, please refer to How to Use Tax API Service on Bybit. 

 

I have created a Bybit Tax API key, how do I connect it with my tax vendor tools?

We recommend that users reach out to the customer support of their respective tax providers for enquiries.

 

Is there a discount code for each tax partner?

No, it depends on the partnership arrangement and business model between Bybit and the relevant third-party tax provider. When choosing a particular third-party tax vendor tool, Bybit will display any available or existing discount codes for use by Bybit users.

 

Can I choose a specific Tax partner beyond those displayed on the page?

Yes, you can choose beyond the third-party tax vendor tools displayed on the page. However, Bybit recommends using the solutions of third-party tax suppliers displayed, as they are partners that work closely with Bybit to ensure that the data is integrated and shared accurately.

 

Are there any costs associated with filing taxes via the third-party vendors through API?

Users may be required to pay a fee for using the third-party tax tool software. This depends on the report that users are requesting on the different third-party vendor platforms.

 

How long does it take to synchronize all data?

It may take from a few minutes to several hours, depending on the duration and volume of transaction data requested by a single user, and the number of API queries currently being processed by Bybit.

 

Can I get data without going through third-party tax vendor tools?

Yes, Bybit users can retrieve information by themselves. However, due to the complexity and volume of the data shared, the files and data are prepared by third-party tax vendors because they are equipped with the necessary know-how and tools. 

In addition, if Bybit users want to extract by themselves, they will need to perform API queries on their own and may need specialized tools to decompress the files distributed by Bybit.

 

Which platforms is this Tax API Reporting tool available on?

Currently, the Tax API Reporting tool is only available on our website. 

 

Will Bybit partner with or feature more new third-party tax vendor tools in the future?

Bybit will partner with more third-party tax vendor products in the future after evaluating their capabilities and coverage in light of customer needs progressively.

Disclaimer: Bybit is not responsible for ensuring the quality or accuracy of products or services provided by our tax partners. Bybit expressly disclaims any liabilities that may arise from products or services provided by our tax partners to Bybit users. Bybit users agree to engage our tax partners at their own risk.