Penguin Finance taxes: How to do your tax declaration in 2025
With Blockpit, you can quickly and easily calculate your Penguin Finance taxes and correctly include them in your tax return!
Blockpit is a trusted cryptocurrency tax calculator used by hundreds of thousands of crypto investors worldwide to accurately track and optimize Penguin Finance transactions, and calculate gains, losses and income for tax purposes.
Simply sign up for free, import your transaction data and generate your fully compliant crypto tax report for Penguin Finance and more than 500,000 other crypto assets, exchanges and wallets in minutes!
Read on to learn everything you need to know about Penguin Finance and cryptocurrency taxation!
🤝 Penguin Finance is an official Blockpit partner.
#1 Penguin Finance Tax Calculator
🏆 Full Penguin Finance support
📈 Smart tax optimization and offsetting of losses
🏛️ Supports country-specific tax regulations
Do I have to pay taxes when using Penguin Finance?
Yes, generally, if you trade cryptocurrencies on Penguin Finance, you may have tax obligations. These vary depending on the country and its specific crypto tax regulations. Some jurisdictions may offer tax exemptions based on profit amounts or holding duration.
Read our crypto tax guides for more information.
Does Penguin Finance automatically deduct taxes?
No, as of 2025, Penguin Finance does not automatically deduct taxes for you.
Crypto exchanges only track your transactions on their own platform, not your transfers to other wallets or exchanges. This means crucial information for accurate tax calculations is missing – something only crypto tax tools like Blockpit can provide.
Warning: The tax office knows about your Penguin Finance gains!
Tax authorities are increasingly tracking Penguin Finance transactions through blockchain analysis and data requests from exchanges. We expect them to ramp up enforcement, sending notices and demanding back taxes from crypto users.
Starting in 2026, DAC8, an EU directive on tax transparency, will require crypto exchanges to automatically report your transactions to tax authorities. Failing to declare your crypto gains can lead to hefty back taxes and penalties.
Warning: The tax office knows about your Penguin Finance gains!
Penguin Finance transactions are publicly visible on the blockchain, and wallets and DeFi applications leave a clear trail. Tax authorities already use blockchain analysis to track transactions and can obtain additional data through mass inquiries. We expect them to increase enforcement, sending notices and demanding back taxes.
Failing to report your crypto gains on time can result in hefty tax bills and penalties.
Import Penguin Finance transactions into Blockpit
Blockpit offers advanced integrations to process Penguin Finance transaction data. Our guide explains how to add the Penguin Finance integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select "Penguin Finance"
Select Penguin Finance from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed Penguin Finance setup guide here: How to import Penguin Finance transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Penguin Finance integration in the meantime!
Import Penguin Finance transactions into Blockpit
Blockpit offers advanced integrations to process Penguin Finance transaction data. Our guide explains how to add the Penguin Finance integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select the corresponding blockchain
In the appearing integration creation dialog, select the corresponding blockchain from the list.
Step 4: Follow the on-screen instructions
You can find a detailed Penguin Finance setup guide here: How to import Penguin Finance transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Penguin Finance integration in the meantime!
Which Penguin Finance transactions are automatically imported into Blockpit?
Blockpit auto-labels Penguin Finance transaction data based on country-specific gain, loss, and income tax categories, then processes them in alignment with your national tax regulations. As a result, Blockpit can distinguish automatically among these asset classes and Penguin Finance transactions:
Assets
✅ Fiat (EUR, USD, CHF, etc.)
✅ Crypto (Coins & Token)
✅ NFTs (NFT Collections)
✅ Commodities (Gold, Silver, etc.)
✅ Derivatives (Tokenized Stocks, Tokenized Commodities, etc.)
Transactions
✅ All transactions provided by Penguin Finance
Review Penguin Finance transaction data in Blockpit
Blockpit seamlessly merges and organizes your Penguin Finance transaction data. Once all data is imported, the following features ensure clarity and assist in verifying data accuracy:
- Identifying unmerged transfers
- Flagging unlabeled transactions
- Highlighting mismatched balances
- Pinpointing potential issues
- Filtering of assets and transactions
- Access to help center guides
For an in-depth overview of Blockpit's review capabilities, refer to: Troubleshooting
What does the Penguin Finance tax report look like?
Blockpit's popular Crypto Tax Calculator creates the most comprehensive Penguin Finance tax report with pre-filled tax forms for your local tax authority in PDF format. Our tax reports also contain clear explanations in terms of legal interpretation for submission to tax authorities. So far, every tax report has been accepted by the tax office without a complaint.
The report provides information about all your balances, realized profits and losses and can be used as proof of origin with banks or tax advisors. It contains all relevant transactions of your account, always refers to the selected tax year and shows details such as time stamp, amount, asset, costs and fees of the individual transactions.
You can view some of our country specific crypto tax reports here: Blockpit Sample Tax Reports
Optimize Penguin Finance taxes with Blockpit's Crypto Tax Optimizer
Save an average of 2,395$ in crypto taxes with our tax-loss harvesting tool and unique sell simulator for your crypto portfolio.
With Blockpit’s Crypto Tax Optimizer, you can track unrealized gains, losses, and holding periods for your Penguin Finance assets.