Cryptocurrencies are now equal (treated under certain circumstances) to legal tender. This is the statement of the German government in a new 27.02.2018 VAT law. I think this could be the way how G20 will handle cryptos for the whole EU.
Link to the PDF on the official website of the ministry of finance:
Summary taken from. https://twitter.com/Hofbraeuer/status/969135461452132352
- Converting crypto to fiat is VAT free
- Mining is VAT free
- in game currencies are not equal to fiat
- exchanges are VAT free now
- Cryptocurrencies are equal to fiat if they are used as payment
The part about legal tender is wording in the legal document. So, this doesn't mean you can go to the next supermarket and demand to them demand from them to be paid with Bitcoin, which is actually a good thing.
So here is the official paper of the Finanzministerium
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
danke dafür. Leider ist mein Vote quasi 0 Wert aber als Zeichen der Wertschätzung bekommst ihn trotzdem.
Mit freundlichen Grüßen
Der Andi
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Upvoted you, of course it would be helpful to link the original German version of the paper as well in my OP, if I'm posting it in "deutsch".
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If you want to, you can link my blogpost also
I wrote sth about this paper in German 👍
https://steemit.com/finanzen/@technotroll/fortschritt-in-der-crypto-steuer-diskussion
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Danke für diese Info ...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Converting crypto to fiat is VAT free
Mining is VAT free
in game currencies are not equal to fiat… twitter.com/i/web/status/9…
Disclaimer: I am just a bot trying to be helpful.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah, equal to fiat which means equal to the taxation of fiat. No more hiding your millions folks...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin was taxed before anyways. You just don't have to pay 19% VAT anymore, which means almost 1/5 less taxation (theft).
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It was meant to be taxed... It's why the US government are chasing info from exchanges. Most people aren't paying their taxes on crypto-earnings. I saw this announcement as a stepping stone to "well you're crypto is equal to fiat so whatever is in your wallet needs to be declared".
That was my theory anyway. I do wear a tin foil hat though hehe. Take care.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit