How staking rewards, Additional YNG Tokens from vesting and YNG cashback are taxed
Under the administered regime, staking rewards, Additional YNG Tokens from the YNG Token Vesting Service, as well as YNG cashback, are also taxable transactions: we calculate the tax at the rate required by law and pay it to the State. Unlike a sale, however, there is no euro cash amount here from which to withhold the tax: for this reason, at the time of withholding, we calculate it on the equivalent value in euro at the market price and withhold it directly in kind in the same crypto-asset you receive.
Staking rewards
As long as the staking position is open, capital and rewards are locked and you do not pay tax. When you close the position and the crypto-assets become available again, we calculate the tax on the accrued rewards and withhold it in kind, that is, in the crypto-asset of the rewards. The capital you placed in staking is not taxed.
For example, assuming the closure of a position equal to 1 ETH of capital and 1 ETH of rewards, taxation is applied exclusively to the ETH reward: you receive 1 ETH of capital in full and the rewards already net of the withheld tax, with the summary available in the operation details.
Additional YNG Tokens from vesting
For Additional YNG Tokens from the Vesting Service, the same logic applies: when they accrue, the Additional YNG Tokens are automatically credited to your wallet, without the need to unlock them. At the time of crediting, we calculate the tax on the Additional YNG Tokens and withhold the corresponding portion in YNG. You therefore receive the tokens net of the portion withheld for taxes. The YNG you placed in vesting are not taxed.
YNG Cashback
The same applies to YNG cashback: we tax it at the time it is credited to you, which happens automatically in your wallet. The Club cashback percentages are gross: we withhold the tax in YNG and you receive the cashback net.
For example, with the Platinum Club the cashback is 3.6% gross: on a spend of €100 you are entitled to €3.60 in YNG. We withhold 33%, which is €1.19 in YNG, and in your wallet you receive €2.41 in YNG, equal to 2.41% net. The purchase price of the YNG you receive is their value at the time of crediting.
What you do not need to do
You do not need to pay anything in euros nor report these operations in your tax return: the withholding you see in the operation detail is the tax already paid for you. You can also find them in the capital gains and taxes summary under Taxes & Report.
If you are on the declarative regime, on the other hand, staking rewards, Additional YNG Tokens and YNG cashback must be reported by you in your tax return.