Topic: Germany Ministry of Finance Says Not to Tax Bitcoin Purchases (Read 141 times)
In my opinion, If Governments accept bitcoin and even if they tax bitcoin, it is a very good news. And this is a great news for the community.
Wow this is great news, really, one must realize that Germany is a country dominating the whole European Union, so probably this approach will be adopted in the whole Europe. And no tax on bitcoin purchases effectively means no VAT on bitcoin purchases, so we all have just saved 20-25 percent, depending on a country 
Well if the news is what to look at, it actually means that bitcoin users are on their own and no government intervention, no court issue would be attended to no regulation for the time being. To me, this might not really be a very good one. Although , it might bring in more money for hodlers since they won't be taxed.
Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
While a lot of people didnt bother to read the article before commenting, I can say that its the best news that can happen at this time for people engaging in crypto by looking at the various levels of involvement and taxing accordingly up to the point of tax exemption. It is however to note that in the article, not everybody is exempted and its all good.
Miners, you will pay tax only that the percentage of payment is what is not disclosed in the article which I fear might be a form of punishment for others that are excluded in the transfer cycle of crypto relationship.
For exchange sites, you are also sure to pay tax which in the case will fall down to the participants on the platforms to trade since we pay fees,it then means that the fees will be increased to accommodate the tax that they will pay which indirectly means that the end user is the one actually paying the tax. The rate the fees will increase will then be dependent on how much percentage of tax will they be paying.
germanies tax system is crazy anyway, raped of decades maybe even centurists by lobbyists, the germans have a huge opportunity getting rid of burcratic smog, and live a new way of live, through cryptoeconomics,
and i know what i am talking about, i live in germany
but i also think that they dont want to tax bitcoin because if they would tax bitcoin, they would have to shred and transact it through there billions of pots, and with bitcoins low speed and high tx fee, that would actually be impossible
Well this is good, I hope germany can be model in any other countries.
Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
While a lot of people didnt bother to read the article before commenting, I can say that its the best news that can happen at this time for people engaging in crypto by looking at the various levels of involvement and taxing accordingly up to the point of tax exemption. It is however to note that in the article, not everybody is exempted and its all good.
Miners, you will pay tax only that the percentage of payment is what is not disclosed in the article which I fear might be a form of punishment for others that are excluded in the transfer cycle of crypto relationship.
For exchange sites, you are also sure to pay tax which in the case will fall down to the participants on the platforms to trade since we pay fees,it then means that the fees will be increased to accommodate the tax that they will pay which indirectly means that the end user is the one actually paying the tax. The rate the fees will increase will then be dependent on how much percentage of tax will they be paying.
Wow, is it real? If it is then the time for bitcoin is coming!
That is good move by the German ministry of finance not to tax for bitcoin purchases , as they know the value of bitcoins and how it can help the people of the country thereby uplifting the economic conditions of the country, all other under developed and developing countries should try to follow or should learn from the super developed countries governing bodies on how to implement the cryptography network and look for ways on how to improve the living standards of the people which will definitely help to improve the socio economic and financial situations of those under developed countries.
Damn, if this is actually true this will be great for Bitcoin in Germany! A lot of more people should start using it there following these news.
I totally agree. Imagine: if you buy things with fiat, you pay (say) 20% of additional VAT. If you buy things with crypto, you don't pay VAT, but instead you pay say 10 euro of transaction fee (assuming it is really high!). A fee goes to the miners and the tax goes to the government, sure, but both are the money you pay on top of your net purchase. Immediately one can calculate that if a thing you are buying is more expensive than 50 euro net, it makes more sense to buy it with bitcoin even if you pay 10 euro fee on top of it! And with a fee of 1 euro or less, this is becoming 5 euro as a threshold.If this all is true, of course.
If it is really true that germany ministry of finance says not to tax any bitcoin transactions, well it is so good, and all bitcoin enthusiasts will be more benifited on that decision. Hopefully other countries also follow, but the statement here says all about good planning only and not totally being implemented, and we are hoping that the government of germany will truly approved as what they have been planned. Because as what the question says, only government of germany has said that they won't not tax, there is no mention above about the total implementation.
Your website is relatively good in my opinion but needs more sources in every article for verification purposes. I support those who is spreading good news to the community so I think this is a site to be visited. Goodluck to your project but just a suggestion limit some kind of promoting your sites over and over again as most Member would find it annoying and may rant to you on this.
i am overworked, i cant handle so much work developing an independent value sources development token,
i cant find motivate teammates,
Your website is relatively good in my opinion but needs more sources in every article for verification purposes. I support those who is spreading good news to the community so I think this is a site to be visited. Goodluck to your project but just a suggestion, limit some kind of promoting your sites over and over again as most Member would find it annoying and may rant to you on this.
Wow this is great news, really, one must realize that Germany is a country dominating the whole European Union, so probably this approach will be adopted in the whole Europe. And no tax on bitcoin purchases effectively means no VAT on bitcoin purchases, so we all have just saved 20-25 percent, depending on a country
Your claim is relative. Now we have little opportunity to make purchases for bitcoins. I do not believe that the tax authorities will be able to control such transactions now and in the future. But the main purchases we make after the exchange of bitcoins to Fiat. When you shop for a Fiat, you pay VAT. This tax inside any of the goods. Why impose additional VAT on foreign exchange transactions? Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
the german finance ministry and its regulation authority have actually good also most pressing reasons to soften their neofeudalist, neocommunist prison
can you please elaborate some more on what are those reasons and why do you think they are pressing? Is it somehow related to the wave (or rather: waves) of immigration? That would be really interesting to me to have some more insight, thanks.
jes immigrants are ending up in a prison that a rich elite of property owning germans own these people are comming out publicly as disgusting investmentpunks,
immigrants are then forced to deal with overcomplicated banking system that additionally sells of licenses to rich foreign corporations further abusing the people trapped in germanies bafinrun financial prison
spineless german banksters and media, think present these investmentpunks as a normatlity to the population publicly.
i am currently writing a blog article on that issue on my website https://www.cryptoproductivity.com/blog
Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
the german finance ministry and its regulation authority have actually good also most pressing reasons to soften their neofeudalist, neocommunist prison
can you please elaborate some more on what are those reasons and why do you think they are pressing? Is it somehow related to the wave (or rather: waves) of immigration? That would be really interesting to me to have some more insight, thanks.
Damn, if this is actually true this will be great for Bitcoin in Germany! A lot of more people should start using it there following these news.
Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
the german finance ministry and its regulation authority have actually good also most pressing reasons to soften their neofeudalist, neocommunist prison
Wow this is great news, really, one must realize that Germany is a country dominating the whole European Union, so probably this approach will be adopted in the whole Europe. And no tax on bitcoin purchases effectively means no VAT on bitcoin purchases, so we all have just saved 20-25 percent, depending on a country
Ministry of Finance, Germany has said that they won’t tax Bitcoin purchase users for consuming the cryptocurrency as a means of Payment.
Read more here:Germany Ministry of Finance
Jump to: