Taxes on Bitcoins in Germany for personal exchange

abhinavsingla

newbie

Activity: 7

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Quote from: gentlemand on January 01, 2016, 06:22:19 PM

Ask a pro but you're just using it as a remittance service. Western Union isn't taxed in that way so I don't see why this should either. The German one year rule applies to capital gains taxes. As I assume you'll be converting them nearly instantly there won't be any capital gains.

Yup I will. I'll be converting them instantly or almost instantly. Thanks for replying the messages. I think I'll take chances with this. Anyhow the amount they send is not huge. They will be sending me around 1000 euros after every 3-4 months.

gentlemand

legendary

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Welt Am Draht

Ask a pro but you're just using it as a remittance service. Western Union isn't taxed in that way so I don't see why this should either. The German one year rule applies to capital gains taxes. As I assume you'll be converting them nearly instantly there won't be any capital gains.

Amph

legendary

Activity: 3248

Merit: 1070

for money that come abroad the limit under which you don't pay anything(but you need to declare anyway the capital gain) is much higher, here for example is 15k in italy, i dunno about germany

but i would not declare if the amount you're earning is very low, under 1k for example

Cryptology

legendary

Activity: 1008

Merit: 1001

In Cryptography We Trust

I think you should talk to a German tax advisor.

l8orre

legendary

Activity: 1181

Merit: 1018

my first impulse would be to say 'no', but it will probably better if you ask in the German section:

https://bitcointalk.org/index.php?board=62.0

abhinavsingla

newbie

Activity: 7

Merit: 0

Hi all,

I am a student and have come from Asia and my parents would like to support me through bitcoins as the conventional methods cost a lot of money. Will I be taxed if I get money from Asia through bitcoins as I'll not be able to hold them for 1 year. Currently, I do not pay taxes (except few cents I get as Zinsen from my saving account here in Germany). I do have a Steuer ID. I'll be really glad if someone can help me regarding this.

Topic: Taxes on Bitcoins in Germany for personal exchange (Read 1363 times)