UPDATE 23/11/2018: On 23 November 2018, the German Federal Council voted in favour of the “Act on the Avoidance of Value Added Tax Losses in relation to the Trade in Goods on the Internet and on the Amendment of Further Tax Provisions”. The planned amendments I had described in my article have been incorporated into […]
A few days ago – on 21 June – the German Federal Ministry of Finance (BMF) published a draft of the German Annual Tax Act 2018 (JStG 2018). With this draft law, the legislator is tackling “hot topics” for the payment and FinTech industry, such as the value added tax (VAT) treatment of the distribution […]
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 […]
Status to date In my post ”Happy New Tax Year with Bitcoin and other cryptocurrencies (3)”, I presented the current status of the VAT treatment of Bitcoin and other cryptocurrencies among other things in regards to the gift tax. The Court of Justice of the EU (on 22/10/2015, C-264/14, DStR 2015, 2433) decided that the […]
In the first two parts of my series “Happy New Tax Year with Bitcoin and other cryptocurrencies” I talked about Bitcoin and the German income tax, including the tax implications of swapping Bitcoin into other cryptocurrencies, bets on Bitcoin and the tax implications of other cryptocurrencies. Part 3 now deals with Bitcoin and other cryptocurrencies […]
Still income tax As already mentioned in part 1 of my article on the Taxation of Bitcoin, there are numerous other aspects to consider. In this, part 2, I will consider the ramifications of changing bitcoins into other cryptocurrencies, betting on bitcoins, taxation of other cryptocurrencies, as well as taxation abroad and in Germany. Last but not […]
Part 1 – Bitcoin and the German income tax Incredible price gains, a low interest rate policy and high stock market values: everyone is talking more than ever about bitcoin and cryptocurrencies. If you are one of those people who invested at the right time: Congratulations! This means, however, that you are also probably someone […]