Topic: Germany gives tax exemption for bitcoin exchange operators - page 3. (Read 536 times)
It should be borne in mind that such a decision in Germany was made on the basis of the decision of the European Court of Human Rights of 2015. They announced it. All countries that signed the European Convention for the Protection of Human Rights and Fundamental Freedoms of 1950, and there are forty one states, are obliged to implement the specific decision of this court and be guided by it as a source of law, that is, to change their existing laws to a specific decision of the European Court of Human Rights if the domestic laws of the country are contrary to such a judicial decision. This means that all other forty states will have to follow the example of Germany. They simply do not have a choice.
This should be great news but it is with mixed feelings for me. For me, I don't see any reason why bitcoin operators should be exempted from paying tax. I believe every business should be made to pay tax. There should not be any sympathy for anybody, including we bitcoin fans. Business should be treated as business and emotions should not come in.
There is nothing weird in their decision, it is a good decision which accepts bitcoin as a legal tender and hope this rule will be used in all European countries and in my opinion the decision they made is the correct one, if you are converting the assets to fiat currency you will be paying your taxes and not for purchasing products with it. 
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This is an interesting news. Germans usually are some of the first ones willing to regulate whatever is still unregulated. Anything being unregulated is simply unbearable for them.
This should be great news but it is with mixed feelings for me. For me, I don't see any reason why bitcoin operators should be exempted from paying tax. I believe every business should be made to pay tax. There should not be any sympathy for anybody, including we bitcoin fans. Business should be treated as business and emotions should not come in.
yes iam from germany and we have even no regulation here in germany !
Our goverment is so low and allways behind everythink what happens in the internet
But still good to live her XD
regards
Our goverment is so low and allways behind everythink what happens in the internet
But still good to live her XD
regards
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This narrative and the title the thread are negating each other. The report is about how Germany is considering taking this course of action as against taking a position. In the process of decision making, a lot of promises are always made but when its time to take a stance on it, that's when several variables start to play an important roles. That is to say until it becomes an action backed by legislation, its nothing short of speculation.
Even though, the news talks about Ministry of Finance releasing The Guidance, its still not sufficient to take a position because guidance can be reviewed without stress and every hopes given to crypto enthusiasts goes bleak compared to a law which the process to amend alone takes more time to make a new one.
OP thanks for this. It's extremely interesting and encouraging.
Idea:
What I would do is the following: opening a small shop at the biggest airport's duty free zone in Germany and would sell jewellery or anything that's small in size but really expensive and I would advertise myself with the bitcoin acceptance.
Also I would offer a kind of compensation (paying e.g. 50% of the airplane ticket to home) for the customers if they just fly to Germany to buy jewellery at the airport with bitcoin.
I know this sounds weird now, but if it's legal somewhere to spend your bitcoins, it can make people to think about visiting that place.
What I would do is the following: opening a small shop at the biggest airport's duty free zone in Germany and would sell jewellery or anything that's small in size but really expensive and I would advertise myself with the bitcoin acceptance.
Also I would offer a kind of compensation (paying e.g. 50% of the airplane ticket to home) for the customers if they just fly to Germany to buy jewellery at the airport with bitcoin.
I know this sounds weird now, but if it's legal somewhere to spend your bitcoins, it can make people to think about visiting that place.
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
Wow, for me that is a great news and I wish I live in that country. This is prove that Bitcoin is a currency and not an asset. And I amaze because they cannot put taxes for the users of Bitcoin. Thumbs up, this is a beautiful news. This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
If you'll start to read the whole article there are some glitched on the news although overall this is still a very good news. A country that starts adopting bitcoin whether they tax it or not just the acceptance or adoption of it is already important. Giving equivalent as legal tender seems to get a very good support from the ministry of finance.
That's mean Germany accepted crypto currency.
Yes this is the most important part of the news.
I think this is a good news. If Germany will give tax exemption bitcoin exchange operators,That's mean Germany accepted crypto currency.
If bitcoin exchange and operators exempted or even people using bitcoin its a good Idea and good new in crypto world more people will encouraged to use bitcoin in real world. Hope it will happen and not only in Germany but the entire world.
#Taklimakan
#Taklimakan
Germany is the most powerful and developed country in Europe and if such a country recognizes bitcoin as a currency, then this is a huge success!
I think that other countries should follow Germany and they should make cryptocurrency taxes more clear and lower in order to encourage investors to stay in their mother country. I don't understand why other countries try to get rid of Bitcoin even though there are many others who would gladly accept investors from them. Are politicians that much ignorant? What a pity, it looks like crypto investors will have hard time in my country. Time to consider moving out.
Its a good news for bitcoin ecosystem, I hope all other countries are really supportive into bitcoins and other cryptocurrencies like this countries like Germany and Japan.
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
Germany really understands the nature of cryptocurrencies so their taxation was fair and just for these digital cryptocurrencies. Possibly they have seen cryptocurrencies as a currency and not as a property, stock or a commodity which is taxable. Taxing exchanges is the right way but the taxation is called the business and income tax. I salute Germany and this principle is also applied in the Philippines. Hope other parts of the world also uses this kind of fair taxation.
Germany is doing nothing more than applying what was ruled by the Court of Justice of the European Union in 2015. The interesting thing about this news is that Germany is, together with France, the most important country and leader within the European Union and its decisions can have an influence on the rest of the EU member countries. It's interesting that, unlike France, Germany adopts a more crypto-friendly approach, closer to the approach of countries such as Portugal or Malta.
This is great news for the residents of Germany, there are a lot of bitcoin holders in Germany , I believe that other States also need to follow the example of Germany
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.
This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
This is a great move by Germany, and I think other countries should also implement similar rules/law regarding this matter. Although there are still plenty of uses for Bitcoin as a currency or payment method, using Bitcoin as mode of payment should not be taxed because there are taxes (VAT) that people are already paying when purchasing goods, especially online products (but to be clear you will still be taxed on your gains in trading Bitcoin in Germany). While the US Internal Revenue Service is stupid to treat Bitcoin as property just to put tax on it. They should rethink the ruling that they are implementing to be fair with cryptocurrency users. This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.
Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
Germany levies bitcoin extraction. This is an advantage for bitcoin investors in Germany. Thus bitcoin participants will make a lot of money without being taxed. In addition, the conversion of virtual currency to real money or vice versa falls into the category of "other taxable services." As a result, intermediaries who carry out the transaction will not be taxed. Under this provision, entities that act as a trading floor are also subject to tax exemption "if the floor acts as an intermediary representing the parties to the sale of Bitcoin."
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