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Title: Germany wont’ tax cryptocurencies used to purchases Post by: VCX_Coin on March 03, 2018, 11:11:09 AM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Klovezio on March 03, 2018, 11:37:23 AM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Dluretic on March 03, 2018, 11:46:47 AM It is a big trend for the cryptocurrency market to be regulated, because there are still big problems in the current market, but excessive regulation and even banning the trading of bitcoin‘s countries are foolish.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: crimsongoth on March 03, 2018, 12:12:02 PM It started to got very good news as hearing such a positive developments about regulations and speech of goverment authorities. These will have efficient on prices of cryptocurrencies and ICO projects.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: RYXES on March 03, 2018, 12:14:46 PM Germany are pretty ahead of most countries and are pretty liberal, I understand their policy and have absolutely no qualms about it and it could of been a lot worse.
Good news! Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Marvell1 on March 03, 2018, 09:33:58 PM Germany are pretty ahead of most countries and are pretty liberal, I understand their policy and have absolutely no qualms about it and it could of been a lot worse. Good news! Yes, great news! I believe that such news will affect the growth of crypto very well. Maybe the price of bitcoin started to grow because of this news. I'm glad that more and more countries accept crypto. Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Victor Beckham on March 03, 2018, 09:39:32 PM That's the way! This is great news and I hope this will be the beginning on new era how governments accept crypto and how they can regulate it the smart way.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: cryptocrocs on March 03, 2018, 09:46:18 PM Good news again,this could be the start why most of the countries will start adopting the cryptocurrencies and the blockchain technology.Putin really is an influencer and he knows that if they dont act now they will be too late to the technology's benefits,this could be the reason why bitcoin's market would pump today,we should see some movements.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Robin,Hood on March 03, 2018, 09:46:57 PM Also no tax for crypto in Slovania or Portugal (taxed if a large sum) and Belarus.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: littlebill16 on March 03, 2018, 09:52:23 PM This is good news for cryptocurrencies as it's a lessening in tax obligations.
However I do disagree with it. I feel that on point of sale you are in essence converting your cryptocurrency in to fiat and should be taxed on any gains in the value of your holding. This greatly incentivzes people to spend their crypto instead of converting it to fiat and then spending. Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: dulari1 on March 03, 2018, 09:52:54 PM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) crypto is good and german governors understand this issue, it is like that u give me the cup and take me shoes. it is not need for tax in this trade. and their decision is very regard able but same germany chancellor angela merkel going to discuss on cryptocurrencies in G20 summit with Emmanuel Macron of France . decision of not to tax is good , but i hope they will only regulate ponzi schemes working behind cryptocurency mask . Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: cryptoprophecy on March 03, 2018, 09:59:08 PM Great news! A lot of countries would now think why they should study how these cryptocurrencies could revolutionize the fiat and the banking system.This news could make the bitcoin's price go pump today,hoping that more and more countries will start studying and later on adopting the cryptocurrencies and the blockchain technology.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: RonaldDuncan on March 03, 2018, 10:01:26 PM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: 7788bitcoin on March 03, 2018, 10:04:45 PM It is a welcoming news and hopefully this will be a trend coming out from Europe , i am not sure how accurate the things stated here are and what are the limits and leverages and how much tax they are going to take and on which aspect,i do know that they wont be taxing for small purchases,how about large purchases.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: patt0 on March 03, 2018, 10:26:35 PM Those are really good news, and I hope the US government will change they views on bitcoin, and adopt the same taxing rules as Germany. Right now taxing bitcoin as property results in heavy taxes, since they are paying bitcoin taxes plus "normal" taxes, and this would make it hard to consumers and merchants to use bitcoin to buy goods. The way Germany is doing is much better, and actually makes much more sense.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: FinbarAdley on March 03, 2018, 10:29:03 PM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: cryptopan on March 03, 2018, 10:31:33 PM Great i wonder how european countries will react to this news?should they be starting to study further the blockchain technology and look to the benefits of using cryptocurrencies? we should all hope that most of the countries in EUROPE would start adopting the cryptocurrencies so that we will have a massive adoption as early as this year.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: cryptodagger on March 03, 2018, 10:39:40 PM This a very great news,especially for those people who are residing in germany,they can now really enjoy tha benefits of cryptocurrencies legally.If i would have the chance to go there i will use cryptocurrencie instead of fiat because it will be much easier for me to pay anything using cryptocurrencies lets hope that most of the countries in europe will follow this.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: mautenisis on March 03, 2018, 10:46:30 PM This very pleasant news,all of the people who uses cryptocurrencies especially bitcoin would love to hear this,might be the cause why bitcoin's price would pump today,i will start spreading the news thru social media lets hope that more and more countries in the world will start understand why cryptocurrencies arent that bad idea like what other people says.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: vrabac68 on March 03, 2018, 10:53:53 PM Amazing news to hear.Strange its not big but it will make other countries adapt faster.I can expect more good news in a coming months
Germany and Switzerland are the best Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: makishart on March 03, 2018, 11:02:11 PM Bitcoin users will not be taxed using this currency as a means of payment,said by The German Federal Ministry of Finances. The latest legal guidance document , published on Wednesday (Feb. 28), distinguish Germany from the US where The Internal Revenue Service treats Bitcoin like property for tax purpose, which means that if an American buys a cup of coffee with Bitcoin, it would be considered a property sale and a subject to capital gain tax. Instead, Germany would consider bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document published recently. The guidance from The Bundesministerium der Finanzen was based on a European Union Court of Justice ruling on value added taxes. The court ruling creates a precedent for European Union nation to tax bitcoin while providing exemptions for certain types of transactions. However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. Payment fee sent to digital wallet providers or other services can also be taxed. Other aspects of the digital currency ecosystem will not be taxed. Miners receiving block reward will not be taxed, as thier actions are considered to be voluntary. Similarly, exchange market operators that buy or sell bitcoin under their own name as intermediary will receive tax-exemption. Still, an exchange operating as technical partketplace will not receive any such exemption. VCXCoinTeam (https://vcxcoin.com/) Great i wonder how european countries will react to this news?should they be starting to study further the blockchain technology and look to the benefits of using cryptocurrencies? we should all hope that most of the countries in EUROPE would start adopting the cryptocurrencies so that we will have a massive adoption as early as this year. You may forget to read this pharagraph dude. Quote However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed. The correct thing is about i wonder to know how reach from those countries are banning bitcoin transaction to the fiat directly. US is against it. Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: modtakels on March 03, 2018, 11:09:08 PM Good news,how ever if there will still some restriction from coverting bitcoin or cryptocurrencies to fiat directly it will be too hard for most of the users there to cashout their cryptocurrencies?lets just hope that these european countries wont be to strict like the U.S so that we can enjoy our vacation there,generally this is a great news today.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: hiwainmoto on March 03, 2018, 11:14:31 PM However, from EU decision, converting bitcoin into a fiat currency or vice versa ia classified as “supply of service”, and therefore any party acting as an intermediary for the exchange will not be taxed.
What how would people cashout if there will be some restriction converting bitcoin to fiat and vice versa? am i missing out something? i wonder how people be able to convert their earnings into fiat,but generally this might be a start of massive adoption to the europearn countries,still positive for our community. Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Fippy on March 03, 2018, 11:14:51 PM Really amazing news from Germany, i think this news is very good for all European Union . Now all of them will do the same , hope so. This will means that world start to accept cryptocurency as money. This week was full of good news. Hope next week will be same. Spring already here.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: cryptomarijuana on March 03, 2018, 11:31:48 PM Wow european cryprocurrency enthusiast will enjoy the benefits of the cryptocurrencies without any hassle,this is really indeed a good thing but how these people will cash out when there will be some restriction to convert your bitcoin to fiat and vice versa? im sure most of the european countries will staart joining our community very good news indeed!
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Brothersav on March 04, 2018, 01:05:21 AM Time to jump ship and move to Germany I think ;D UAE plans to become to worlds first crypto friendly ecosystem. I look forward to being apart of a company is chasing UAE money and their clientele (Darico) nonetheless it's good to see Germany moving forward in the right direction.
Title: Re: Germany wont’ tax cryptocurencies used to purchases Post by: Grim149x on March 04, 2018, 08:17:23 AM That's definitely a good news and that's how it's supposed to be. I hope that more better news will come so crypto currency adoption will be more massive.
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