Entries by Dr. Steffen Rapp

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 […]

Happy New Tax Year – with Bitcoin and other cryptocurrencies (3). Gift tax and Co.

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 […]

Happy New Tax Year – with Bitcoin and other cryptocurrencies (2)

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 […]