Somebody from German: is there a some taxes on Bitcoin Income?

[Azkabal]

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

[exstasie]

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

Do you mean earned income paid in BTC? Or capital gains income from selling BTC?

With capital gains, it depends how long you held the BTC. In Germany, there is zero capital gains tax when BTC is held for at least one year. When held for less than a year, there is a 600 euro annual tax exemption but after that, regular income tax rates apply.

https://cointelegraph.com/news/crypto-taxation-around-the-globe-what-do-regulations-look-like
https://www.nomoretax.eu/bitcoin-tax-haven-germany/

[Azkabal]

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

Do you mean earned income paid in BTC? Or capital gains income from selling BTC?

With capital gains, it depends how long you held the BTC. In Germany, there is zero capital gains tax when BTC is held for at least one year. When held for less than a year, there is a 600 euro annual tax exemption but after that, regular income tax rates apply.

https://cointelegraph.com/news/crypto-taxation-around-the-globe-what-do-regulations-look-like
https://www.nomoretax.eu/bitcoin-tax-haven-germany/

Thanks for valuable information