If you have been trading, staking, or earning crypto on Mandala Exchange, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Mandala Exchange quick and easy by following these steps:
Create a free account and connect Mandala Exchange to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Mandala Exchange
Wait for Coinpanda to automatically calculate capital gains and income for your Mandala Exchange transactions
Download your Mandala Exchange tax report
File your Mandala Exchange taxes before the deadline
To calculate your taxes accurately, you must import all transactions from Mandala Exchange to Coinpanda. Coinpanda supports the following transactions from Mandala Exchange today:
CSV file upload
How to connect Mandala Exchange with API
We are only requesting view permissions. This does not give us access to your private keys or the ability to move your funds.
Follow these steps to add your Mandala Exchange account to Coinpanda with API:
Complete 2FA and email verification and click ‘Confirm’
Next, press ‘Edit permissions’ to uncheck the box ‘Enable Trades’ and press ‘Save’
Copy the API keys to Coinpanda.
Only deposits and withdrawals can be imported from the API at this time. You will need to upload a CSV file for your trade history. Please contact Mandala Exchange customer support if you have questions about this.
How to connect Mandala Exchange with CSV
Follow these steps to export your transactions from Mandala Exchange:
Select a time range that covers your entire history for all years of trading
Upload the CSV file to Coinpanda
How are Mandala Exchange transactions taxed?
The exact tax implications on Mandala Exchange transactions depend on which country you live in and the type of transactions you have made. In general, you must pay either capital gains tax or income tax on your cryptocurrency transactions on Mandala Exchange.
Capital gains tax: Whenever you sell a cryptocurrency for more than you purchased it for, you generate a capital gain. On the other hand, if you sell the cryptocurrency for less than you paid initially, you have a capital loss, which can offset other gains in most cases.
Income tax: Earned cryptocurrency on Mandala Exchange, such as staking, interest, bonuses, and referral rewards, is typically seen as taxable income from a tax perspective and must be reported in your tax return.
To learn more about how Mandala Exchange transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Mandala Exchange taxes?
First, you must calculate capital gains and income from all taxable transactions on Mandala Exchange. When you have this information ready, you can report capital gains and income together with other forms of income such as employment and dividends in your annual tax return.
To calculate your capital gains, you must first export a complete history of all transactions made on Mandala Exchange. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency (your cost basis) and the price at which you sold it (your proceeds). Luckily, Coinpanda can help you with this and generate ready-to-file tax forms quickly and easily.
After downloading your Mandala Exchange tax statements from Coinpanda, the last step is to report the capital gains and income on your tax return before the deadline. Most countries allow you to self-declare taxes online in 2023, but you can also get help from a professional tax accountant to file taxes for you.
Calculate your Mandala Exchange taxes
Sign up free today to calculate your Mandala Exchange taxes
How do I troubleshoot the imported Mandala Exchange transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Mandala Exchange to Coinpanda, it can happen that either not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:
Changes in the Mandala Exchange API
Updated CSV file format
Mandala Exchange does not provide a complete record of all transactions
To get the best help from Coinpanda support, you must first identify which transactions are missing or incorrectly imported. To do this, we recommend comparing your transaction history on Mandala Exchange with the transactions imported into your Coinpanda account. See also our help article with an overview of known exchange API limitations.
The quickest way to get help from our dedicated support team is to send a message in the Live Chat.
No, Mandala Exchange does not provide complete and ready-to-file tax documents. This is because Mandala Exchange does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Mandala Exchange tax documents?
The easiest way to get tax documents and reports is to connect your Mandala Exchange account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Mandala Exchange.
Does Mandala Exchange provide financial or end-of-year statements?
No, Mandala Exchange does not provide a complete financial or end-of-year statement for your crypto transactions. However, you can get this using a crypto tax calculator.
Do I have to pay taxes on Mandala Exchange?
Yes, all transactions on Mandala Exchange involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, interest, or referral rewards.
Is transferring to Mandala Exchange taxable?
No, transferring cryptocurrency to Mandala Exchange is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Mandala Exchange?
It is impossible to avoid paying taxes completely on Mandala Exchange legally if you live in a country that taxes cryptocurrency. However, there are several ways you can reduce your taxes, such as tax loss harvesting.
Can Mandala Exchange calculate my taxes?
Mandala Exchange cannot calculate your taxes since it does not have knowledge of your transactions made on other exchanges or platforms. However, if you have only interacted with crypto on Mandala Exchange your entire life, it could technically do so.
Is Mandala Exchange safe?
Mandala Exchange is generally considered to be a safe exchange. Although Mandala Exchange follows industry best practices for safety and to prevent malicious attacks, there is always a risk associated with keeping your crypto on centralized third-party exchanges including Mandala Exchange.