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Author Topic: German Ministry of Finance: Bitcoin IS A PAYMENT  (Read 3457 times)
grau
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October 12, 2013, 08:31:01 AM
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Clearing of claims with Bitcoin is a payment, not a delivery of a digital good, hence no implications to VAT.

Article in WELT: http://www.welt.de/finanzen/article120823372/Zahlungen-mit-Bitcoins-sind-umsatzsteuerfrei.html

Original of the Ministry: http://www.frank-schaeffler.de/wp-content/uploads/2013/10/2013_09_27-Antwort-Koschyk-Bitcoin3.pdf
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October 12, 2013, 08:50:40 AM
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Awesome, Germany is always at the forefront of accepting btc  Cheesy

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October 12, 2013, 08:52:17 AM
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Awesome, Germany is always at the forefront of accepting btc  Cheesy

Simple. Germans are rational and love sound money.
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October 19, 2013, 02:32:23 PM
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On a related note, income from mining is regular "other" income if done privately. That means tax free for up to 256€ worth of income per year, subject to normal tax rates if above.
On the bright side that also means mining expenses (hardware, electricity) are deductable.
Article on http://www.heise.de/newsticker/meldung/Einkuenfte-aus-Bitcoin-Mining-koennen-steuerpflichtig-sein-1981629.html.

All in all thats a pretty good sign. Bitcoin is no longer a gray area in Germany. Well possible to see increased adoption as a payment method.
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October 20, 2013, 10:02:02 AM
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This could mean, that at least in Europe, Germany will become a leader in bitcoin investments.

If there is one thing investors like, it is a potential for growth in an environment of legal predictability.

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