Somebody from German: is there a some taxes on Bitcoin Income?

Azkabal

sr. member

Activity: 389

Merit: 251

Quote from: exstasie on February 03, 2020, 06:15:57 AM

Quote from: Azkabal on February 02, 2020, 12:06:42 PM

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

Do you mean earned income paid in BTC? Or capital gains income from selling BTC?

With capital gains, it depends how long you held the BTC. In Germany, there is zero capital gains tax when BTC is held for at least one year. When held for less than a year, there is a 600 euro annual tax exemption but after that, regular income tax rates apply.

https://cointelegraph.com/news/crypto-taxation-around-the-globe-what-do-regulations-look-like
https://www.nomoretax.eu/bitcoin-tax-haven-germany/

Thanks for valuable information Wink

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: Azkabal on February 02, 2020, 12:06:42 PM

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

Do you mean earned income paid in BTC? Or capital gains income from selling BTC?

With capital gains, it depends how long you held the BTC. In Germany, there is zero capital gains tax when BTC is held for at least one year. When held for less than a year, there is a 600 euro annual tax exemption but after that, regular income tax rates apply.

https://cointelegraph.com/news/crypto-taxation-around-the-globe-what-do-regulations-look-like
https://www.nomoretax.eu/bitcoin-tax-haven-germany/

Azkabal

sr. member

Activity: 389

Merit: 251

Hi all,

Theoretically: If I have an income in BTC transferred into EUR Bank account -> will I need to pay huge taxes in Germany?

Thanks for answers ;-)

Topic: Somebody from German: is there a some taxes on Bitcoin Income? (Read 173 times)