Topic: Germany Ministry of Finance Says Not to Tax Bitcoin Purchases (Read 128 times)
We are gradually seeing a change in stance towards Bitcoin country by country. It is a slow progression at the moment but as we reach a wider level of acceptance then its going to benefit the crypto market for sure.
In doing so, Bitcoin's development in Germany may exceed that of other Asian countries, because their government can do no restrictions on Bitcoin and will not participate in any of them.
I love this development from Germany, they are always very supportive of new and rising technology. Yes, I agree with that bitcoin usage will rise since its government that is very supportive. Next to this , we will witness more shops sprouting to accept bitcoin on their front display.
America will never follow Germany on this. If it does I will be very pleasantly surprised. The IRS has its hands on EVERYTHING
According to the article it is a taxable when crypto is exchanged into a fiat currency, While the exchanger will not put the tax. While transaction with bitcoin for purchasing something it might be taxed. I strongly support what has been done by the German government at least they do not banned bitcoin and crypto as has been done by several countries in asia.
In doing so, Bitcoin's development in Germany may exceed that of other Asian countries, because their government can do no restrictions on Bitcoin and will not participate in any of them.
I applaud the Germans for moving in this direction. Hopefully, the authorities in Canada and the US will follow suit.
Finally good news , this will probably lunch bitcoin into the sky.If such a country like Germany won't take tax on bitcoin ,we can expect soon that other country in Europe will do the same (atleast rich country like Switzerland, Finland).
That is a positive news coming from Germany and I also hard that the Isreali supreme court has ordered the banks to lift the ban place on customers account restricting them from purchasing bitcoin/cryptocurrencies using they bank account. And now Germany ministry of finance stating clear of not taxing bitcoin this will help in the general acceptability of bitcoin and other cryptocurrencies as their will now be view as a safe avenue to carry out financial transactions. I know is just a matter of time before bitcoin will be generally accepted not only by members of the societies but also by countries of the world due to bitcoin economic advantage.
According to the guidance, released Tuesday by the Ministry of Finance, Germany has said that they won’t tax Bitcoin users for consuming the cryptocurrency as a means of Payment.
Know more: Coinpedia
Know more: Coinpedia
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