Entries by Dr. Steffen Rapp

The tax treatment of Libra: old wine in new barrels?

What is the Libra cryptocurrency? Libra is a cryptocurrency which, like other cryptocurrencies, is based on a blockchain technology which is limited to the participants (“permissioned blockchain”). Susanne has already described the structure of the Libra cryptocurrency. As a so-called stablecoin Libra is tied to a basket of currencies. For hedging purposes, investments are made […]

Update regarding payments in kind: Vouchers, prepaid cards etc. to remain exempt from payroll tax and social security contributions for employees?

The draft law in its current form On 8 May 2019, the German Federal Ministry of Finance (BMF) published a draft Act on the Further Tax Promotion of Electric Mobility and on the Amendment of Further Tax Regulations (the Draft Act). I have already described and explained the planned amendments in detail in my blog […]

Payments in kind: vouchers, prepaid and cash cards etc. proposed subject to payroll tax and social security contributions for employees?

On 8 May 2019, the German Federal Ministry of Finance (BMF) published a draft law that contains further tax incentives for electro mobility as well as amendments to other tax regulations. The draft law was sent to selected associations such as the Prepaid Verband Deutschland e.V. It contains a new definition to differentiate between income […]

Bitcoin and other cryptocurrencies (7): Bitcoin on the balance sheet and in the annual accounts

For businesses who voluntarily or as required by law (have to) prepare annual accounts, the question arises as to how Bitcoin and other cryptocurrencies (hereinafter collectively referred to as Bitcoin by way of example) need to be disclosed in the annual accounts, consisting of (commercial) balance sheet, profit and loss account and, if applicable, appendices. […]

Bitcoin and other cryptocurrencies (5): exchange of information

The example of US tax authorities and Coinbase, which I already mentioned in part 2 of my entry on Bitcoin and other cryptocurrencies shows that foreign tax authorities can also access your data. The exchange of information is regulated as follows. Exchange of information. Spontaneous? Automatically? Based on the International Convention on Mutual Administrative Assistance […]