[2018-03-02] Germany Treads Lightly on Bitcoin Taxation

[Diced90]

Germany is taking a lead within European Union established economies, deciding upon slow regulation when it comes to the world’s most popular cryptocurrency, bitcoin. It will not tax the digital asset as a form of payment, miner rewards escape the sting as well, and even some exchanges will receive exemptions.
Germany Slows on Taxing Bitcoin
Bundesministerium der Finanzen, Germany’s Federal Ministry of Finance, issued a four page document outlining its tax regime regarding bitcoin, VAT treatment of Bitcoin and other so-called virtual currencies. Using a 2015 decision from the European Union Court of Justice on value added tax (VAT), the broader EU believes it can decide the fate of taxing bitcoin. Germany too is using it as a framework.

Though filled with legalisms, the document seems to imply bitcoin as legal tender when a means of payment, thus exempting it from a typical usage tax. Interpreting usage of bitcoin “free of VAT…[the] use of Bitcoin is the use of conventional means of payment if it serves no purpose other than a pure means of payment serve,” the document defines.
Read more https://news.bitcoin.com/bitpay-launches-bitcoin-cash-debit-card-top-ups

[bbc.reporter]

That is one of the more progressive forms of legislation made for bitcoin. I hope they do the same for some of the best altcoins like Monero.

In any case, I also almost don't want it to happen. Sometimes I wish the regulators left bitcoin and the cryptospace alone so that it could remain cool and rebellious. The establishment's welcoming acceptance of bitcoin is changing all that, and it's boring hehehe.

[Jiamaf]

That is one of the more progressive forms of legislation made for bitcoin. I hope they do the same for some of the best altcoins like Monero.

In any case, I also almost don't want it to happen. Sometimes I wish the regulators left bitcoin and the cryptospace alone so that it could remain cool and rebellious. The establishment's welcoming acceptance of bitcoin is changing all that, and it's boring hehehe.

If it can allow the tax payment with bitcoin, that is even better.

[RamonBTC]

For now, on some eu member country bitcoin has manifested a great adaptation and acceptance, no tax but until when? is the ultimate question. If this taxation issue and regulation be in a slow phase for now, in due time it means they’re is a plan of it that is being draft. As of now that the popularity is at minimal and slowing down due to low market price, but until the day investors be hook up then they will surely be implementing taxation.