(Status: No reply = Source wins)
https://bitcointalksearch.org/topic/in-germany-bitcoin-gains-are-not-to-be-taxed-after-12-months-244524German government relieves capital gains tax on bitcoin positions
Published On June 27, 2013
Location: Germany
Abstract: Bitcoin transactions in Germany have been made exempt from capital gains tax after one year In Germany, assets such as stocks and bonds are subject to a 25% capital gains tax (plus a solidarity surcharge) and a state-dependant church tax. With the new decision, bitcoins having been held for more than a year will not be subject to these charges.
Source:
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Quoted from 600watt
sorry for all this german crab here, but this is stunning:
http://www.welt.de/finanzen/geldanlage/article117493178/Bitcoin-Geschaefte-sind-nach-einem-Jahr-steuerfrei.htmlgerman government decided that no taxes have to be paid on gains of bitcoin prize rising (speculation) if the bitcoins are held for a 12 months period. that is much softer as on stockmarket gains! the german government gives bitcoin speculators an edge over traditional stockmarket speculators.
edit:
the article says: speculative stock, bond or certificate gains are taxed 25 %. bitcoin ZERO %.
Additional Sourcing
http://bitcoinmagazine.com/a-recap-of-mega-corporate-and-government-attention-on-bitcoin-this-past-year/Bitcoins are a Unit of Value in Germany – Germany’s financial supervisory authority, Bafin, has published a report (translation of relevant text here) delineating their status under German law. The document has the following to state on the subject: “tokens of value meant to be used as a method of payment which are issued by barter-clubs, private exchange-rings or other payment systems in exchange for real economic goods or services or like for example Bitcoins, which are issued in computer networks without any service in return, are therefore exempt from the definition of e-money, even though they fulfill the same economic function as e-money and have the actual potential of privately issued currencies.” The legal concept of e-money in Germany applies only to instruments that ultimately derive from legal tender currencies, and so Bitcoin is effectively classified as a commodity. Incidentally, this is similar to the way more recent government decisions have treated Bitcoin donations – as an “in kind” donation of material but not monetary form, similar to donating food or supplies. Note that classification as a commodity does not exempt Bitcoin transactions from taxation; in most jurisdictions, barter income is taxable too.
https://bitcointalksearch.org/topic/m.952802http://www.cryptocoinsnews.com/2013/06/28/german-government-relieves-capital-gains-tax-on-bitcoin-positions/In online exchanges like bitcoin.de or mtgox.com, 100 bitcoins could be acquired in mid-2012 for about 550 euros. Today, the same amount is worth about 7600 euros. In the event of a sale after more than twelve months, where the gain is about 7000 euros, the flat tax would would come into effect at 1750 euros.
Legally, the purchase and sale of bitcoin is a private sale transaction under Section 23 paragraph 1 sentence 2 of the Income Tax Act, which (according to section 2, paragraph 1, sentence 1, No. 7 Income Tax Act) is classed as income tax. The legal requirement is to collect on these transactions only if the period “between buying and selling is no longer than one year.” Bitcoins are enjoying increasing popularity in the Internet community, but also as a playground for speculators. They allow for the payment of goods and services on the Internet without the need for a traditional bank account or a credit card. More than 2,000 companies and organizations worldwide accept the digital money now.
It is also worth noting that the German capital gains tax does not apply to mining bitcoins. It only applies to stocks, bonds, etc, that have been purchased with the intention of market speculation. Since mining bitcoins is essentially creating value, normal income tax would be applied.
Legal Note
No clarification from bernard75 was given regarding the accuracy as such argument considered moot
That said this reference link will be left
http://de.wikipedia.org/wiki/Privates_Ver%C3%A4u%C3%9Ferungsgesch%C3%A4ft)
