in germany bitcoin gains are not to be taxed after 12 months !!

[600watt]

sorry for all this german crab here, but this is stunning:

http://www.welt.de/finanzen/geldanlage/article117493178/Bitcoin-Geschaefte-sind-nach-einem-Jahr-steuerfrei.html

german government decided that no taxes have to be paid on gains of bitcoin prize rising (speculation) if the bitcoins are held for a 12 months period. that is much softer as on stockmarket gains! the german government gives bitcoin speculators an edge over traditional stockmarket speculators.


edit:

the article says: speculative stock, bond or certificate gains are taxed 25 %. bitcoin ZERO %.   

[Crypt_Current]

+1 awesome find

[notme]

This feels big.

[meh32123]

Why sould tax be payed anyways, its not like the governments deserve it...

[notme]

Why sould tax be payed anyways, its not like the governments deserve it...

Because if you don't pay the thugs they will fuck up your day.

[meh32123]

Owh yeah because of the great system based of violence...

[notme]

Owh yeah because of the great system based of violence...

Yes.  Ignoring it doesn't stop it from hurting you or especially the ones you love.

[prophetx]

I wonder if this would spread to other eu countries?

I am considering moving to either berlin or barcelona  my last semester to finish my thesis and then continue work on start ups... this is huge

[Malawi]

Interesting. 

This rule might spread trough Europe as countries are wondering what to do with BTC and look to Germany since they have a rule in place.

Still, I'm wondering how one is to define that period. If a German sends off 20.000 DEM 10.000 EUR to MtGox and buys 125BTC, and transfers it to his private wallet there is no question. It's easy to tell from the blockchain.

But what if the same German puts in the same amount at MtGox, but trades a bit and ends up with 150BTC after a year. Can he then sell those 150BTC without tax, or 125BTC, or whatever amount that has always stayed in BTC (say 50BTC) -Or will he have to withtdraw them and keep them in cold storage for a year?

I am wondering as I would not be surprised if the rules become the same where I live.

BTW: The flip side is that no tax on surplus, means that you cannot deduct losses either.

[prophetx]

Interesting.  

This rule might spread trough Europe as countries are wondering what to do with BTC and look to Germany since they have a rule in place.

Still, I'm wondering how one is to define that period. If a German sends off 20.000 DEM 10.000 EUR to MtGox and buys 125BTC, and transfers it to his private wallet there is no question. It's easy to tell from the blockchain.

But what if the same German puts in the same amount at MtGox, but trades a bit and ends up with 150BTC after a year. Can he then sell those 150BTC without tax, or 125BTC, or whatever amount that has always stayed in BTC (say 50BTC) -Or will he have to withtdraw them and keep them in cold storage for a year?

I am wondering as I would not be surprised if the rules become the same where I live.

BTW: The flip side is that no tax on surplus, means that you cannot deduct losses either.

U probably need to show 365 days at the same address in the blockchain... but hey u can always buy some call/put options on certain exchanges

[bitcats]

sorry for all this german crab here, but this is stunning:

No problem! Sorry for all this English crab here 

[bernard75]

sounds delicious

[bernard75]

Still, I'm wondering how one is to define that period. If a German sends off 20.000 DEM 10.000 EUR to MtGox and buys 125BTC, and transfers it to his private wallet there is no question. It's easy to tell from the blockchain.

But what if the same German puts in the same amount at MtGox, but trades a bit and ends up with 150BTC after a year. Can he then sell those 150BTC without tax, or 125BTC, or whatever amount that has always stayed in BTC (say 50BTC) -Or will he have to withtdraw them and keep them in cold storage for a year?

I am wondering as I would not be surprised if the rules become the same where I live.

BTW: The flip side is that no tax on surplus, means that you cannot deduct losses either.

The tax exempt doesnt apply to day traders or even if you exchanged them once during the period.
Its another thing how the friendly tax collector can prove you traded.

[MarpleTrading]

Interesting.  

This rule might spread trough Europe as countries are wondering what to do with BTC and look to Germany since they have a rule in place.

In Holland our Minister of Finance just answered questions in Parliament stating that they see BTC more as a service than as a financial asset, hence it is not treated as an investment.

[mr_random]

Is there a similar situation in the UK? Please let it be so.